Biosolvents Market by Type, Application, Region, and Competition - Forecast and Opportunities to 2027

The global biosolvents market is anticipated to witness significant CAGR in the forecast period, 2023-2027. The rise in the environmental regulations imposed by the leading authorities of several countries, especially in Europe and North America region and the enhanced supply and availability of bio solvents in the market are the primary drivers for the growth of global biosolvents market. Also, the rise in the research and development activities to find novel solutions and the fluctuations in the oil prices can create numerous growth opportunities for the global biosolvents market in the next five years.

Favorable Government Policies Drives the Market Growth

High usage of chemicals across countries and the rise in environmental awareness have led the leading authorities to impose a number of regulations on the technologies used in paints and coatings manufacturing. Synthetic solvents are a major ingredient in manufacturing paints, and they pose a serious risk to the employee’s health. These can adversely impact the health of an individual by irritating skin, eyes, and nose. Also, conventional solvents release volatile organic compounds that are harmful to the environment. Leading authorities are keeping a close eye on waste disposal and emissions into the environment and are imposing strict regulations to limit the use of synthetic solvents. Regulations like Farm Security and Rural Investment Act of the Public Law 107-171 and Registration, Evaluation, Authorisation, and Restriction of Chemicals (REACH) have made it necessary for the manufacturers to make the use of bio-based materials for the manufacturing process. Also, to protect the employees, market players have to provide protective gear, air-tight goggles, safety gloves, protective clothing, and full-face respirators to lower the exposure from the use of synthetic solvents. The harmful threats posed by the use of synthetic solvents are expected to propel the global biosolvent market growth in the coming years.

Extensive Research and Development Activities Supports the Market Growth

The conventional solvents that are used in personal care products and other manufacturing processes can cause severe health problems such as irritation of the eye, skin, sore throat, hormone disruptions, asthma, and allergic contact dermatitis, among others. Also, the use of synthetic solvents in pharmaceutical applications can be toxic and carcinogenic. The launch of environment-friendly solvents due to the growing awareness about the negative effects of synthetic solvents is expected to influence the market growth in the coming years. Archer Daniels Midland Company acquired Florida Chemical Company (FCC), a division of Flotek Industries in November 2019 and Simialry, DuPont Tate & Lyle Bio Products, Corbion, INOLEX, and ACT Solutions are partnering together on the production of a range of personal care product formulations with 100% bio-based content. Market players are forming alliance and partnerships to support the growth of global biosolvents market. Market players are making significant amounts for research and development activities to manufacture cost-effective and quality biosolvents that are not harmful to the environment and are expected to fuel the global biosolvents market growth over the next five years, 2023-2027.

Market Segmentation

The global biosolvents market is segmented into type, application, regional distribution, and competitive landscape. Based on type, the global biosolvents market is divided into alcohols, diols & glycols, esters, and others. Based on application, the global biosolvents market is divided into industrial & domestic cleaners, paints & coatings, adhesives & sealants, printing inks, and others. To analyze the market based on the region, the global biosolvents market is studied in regions namely North America, Europe, Asia-pacific, South America, Middle East, and Africa. In terms of country, the United States is expected to be a lucrative market for the global biosolvents market due to the rapid replacement of petrochemical-based solvents with bio-solvents.

Market Players

Archer Daniels Midland Company, BASF SE, Solvay SA, CREMER OLEO GmbH & Co. KG, Vertec Biosolvents Inc., Cargill, Inc., Stephan Company, Corbion NV, Dow Inc., GF Biochemicals Limited, are the key market players operating in the global biosolvents market.

Report Scope

In this report, global biosolvents market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

Biosolvents Market, by Type:

• Alcohols
• Diols & Glycols
• Esters
• Others

Biosolvents Market, by Application:

• Industrial & Domestic Cleaners
• Paints & Coatings
• Adhesives & Sealants
• Printing Inks
• Others

Biosolvents Market, by Region:

• North America
• Europe
• Asia-Pacific
• South America
• Middle East & Africa

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in global biosolvents market.

Available Customizations

With the given market data, customizations are offered according to specific needs. The following customization options are available for the report:

• Detailed analysis and profiling of additional market players (up to five).