According to the report the global green solvents market reached a value of USD 1.87 billion in 2022. Aided by the escalating demand for eco-friendly materials and the increasing applications of green solvents in various industries, the market is projected to further grow at a CAGR of 7.28% between 2023 and 2028 to reach a value of USD 2.8 billion by 2028.
Green solvents, often termed as bio-solvents, are environmentally friendly solvents derived from biomass, such as plants, trees, or fruits. These solvents are gaining popularity due to their low toxicity, low volatile organic compounds content, high biodegradability, and non-ozone depleting properties. Aside from their eco-friendly attributes, green solvents also offer excellent dissolving power, making them invaluable in numerous industrial applications, including paints and coatings, adhesives, pharmaceuticals, and cleaning products.
The growing consumer awareness towards environmental sustainability is a significant driver propelling the global green solvents market growth. Amid increasing concerns over air pollution and ozone layer depletion, there has been a paradigm shift towards eco-friendly alternatives, leading to a surge in demand for green solvents. Additionally, stringent governmental regulations and initiatives promoting the use of green materials have further spurred the popularity of green solvents.
The broadening applications of green solvents in various industries also play a pivotal role in boosting the green solvents market development. In the paints and coatings sector, green solvents are used for their excellent solvent properties and minimal environmental impact. The pharmaceutical sector employs green solvents due to their low toxicity, which is vital in drug formulation and development. The cleaning products sector values green solvents for their effective cleaning capabilities without harming the environment or the user's health.
Moreover, the burgeoning demand for bio-based products in various sectors has led to an increased emphasis on green solvents as a sustainable option. With the advent of the green revolution and the rising popularity of circular economy models, green solvents have surfaced as a key player in the formulation of bio-based paints, adhesives, cleaning agents, and more, thereby contributing to the green solvents market expansion.
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*The publisher always strives to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.
Green solvents, often termed as bio-solvents, are environmentally friendly solvents derived from biomass, such as plants, trees, or fruits. These solvents are gaining popularity due to their low toxicity, low volatile organic compounds content, high biodegradability, and non-ozone depleting properties. Aside from their eco-friendly attributes, green solvents also offer excellent dissolving power, making them invaluable in numerous industrial applications, including paints and coatings, adhesives, pharmaceuticals, and cleaning products.
The growing consumer awareness towards environmental sustainability is a significant driver propelling the global green solvents market growth. Amid increasing concerns over air pollution and ozone layer depletion, there has been a paradigm shift towards eco-friendly alternatives, leading to a surge in demand for green solvents. Additionally, stringent governmental regulations and initiatives promoting the use of green materials have further spurred the popularity of green solvents.
The broadening applications of green solvents in various industries also play a pivotal role in boosting the green solvents market development. In the paints and coatings sector, green solvents are used for their excellent solvent properties and minimal environmental impact. The pharmaceutical sector employs green solvents due to their low toxicity, which is vital in drug formulation and development. The cleaning products sector values green solvents for their effective cleaning capabilities without harming the environment or the user's health.
Moreover, the burgeoning demand for bio-based products in various sectors has led to an increased emphasis on green solvents as a sustainable option. With the advent of the green revolution and the rising popularity of circular economy models, green solvents have surfaced as a key player in the formulation of bio-based paints, adhesives, cleaning agents, and more, thereby contributing to the green solvents market expansion.
Market Segmentation
The market can be divided based on product, end use, and region.Market Breakup by Product
- Bio-Alcohols
- Bio-Glycols
- Lactate Esters
- D-Limonene
- Methyl Soyate
- Others
Market Breakup by End Use
- Chemical Intermediate
- Pharmaceuticals
- Printing Inks
- Paints and Coatings
- Cosmetics and Personal Care
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global green solvents companies. Some of the major key players explored in the report are as follows:- The Dow Chemical Company
- Cargill, Incorporated
- Clariant International Ltd.
- Bio Brands LLC
- Archer Daniels Midland Company
- Corbion NV
- CREMER OLEO GmbH & Co. KG
- Vertec BioSolvents Inc.
- Florachem Corp.
- Solvay S.A.
- Stepan Company
- Gemtek Products
- Others
About the Publisher
Acquire unparalleled access to critical industry insights with our comprehensive market research reports, meticulously prepared by a team of seasoned experts. These reports are designed to equip decision-makers with an in-depth understanding of prevailing market trends, competitive landscapes, and growth opportunities.Our high-quality, data-driven analyses provide the essential framework for organisations seeking to make informed and strategic decisions in an increasingly complex and rapidly evolving business environment. By investing in our market research reports, you can ensure your organisation remains agile, proactive, and poised for success in today's competitive market.
Don't miss the opportunity to elevate your business intelligence and fortify your strategic planning. Secure your organisation's future success by acquiring one of these reports today.
*The publisher always strives to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.
Table of Contents
1 Preface2 Report Coverage - Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Green Solvents Market Analysis
8.1 Key Industry Highlights
8.2 Global Green Solvents Historical Market (2018-2022)
8.3 Global Green Solvents Market Forecast (2023-2028)
8.4 Global Green Solvents Market by Product
8.4.1 Bio-Alcohols
8.4.1.1 Historical Trend (2018-2022)
8.4.1.2 Forecast Trend (2023-2028)
8.4.2 Bio-Glycols
8.4.2.1 Historical Trend (2018-2022)
8.4.2.2 Forecast Trend (2023-2028)
8.4.3 Lactate Esters
8.4.3.1 Historical Trend (2018-2022)
8.4.3.2 Forecast Trend (2023-2028)
8.4.4 D-Limonene
8.4.4.1 Historical Trend (2018-2022)
8.4.4.2 Forecast Trend (2023-2028)
8.4.5 Methyl Soyate
8.4.5.1 Historical Trend (2018-2022)
8.4.5.2 Forecast Trend (2023-2028)
8.4.6 Others
8.5 Global Green Solvents Market by End Use
8.5.1 Chemical Intermediate
8.5.1.1 Historical Trend (2018-2022)
8.5.1.2 Forecast Trend (2023-2028)
8.5.2 Pharmaceuticals
8.5.2.1 Historical Trend (2018-2022)
8.5.2.2 Forecast Trend (2023-2028)
8.5.3 Printing Inks
8.5.3.1 Historical Trend (2018-2022)
8.5.3.2 Forecast Trend (2023-2028)
8.5.4 Paints and Coatings
8.5.4.1 Historical Trend (2018-2022)
8.5.4.2 Forecast Trend (2023-2028)
8.5.5 Cosmetics and Personal Care
8.5.5.1 Historical Trend (2018-2022)
8.5.5.2 Forecast Trend (2023-2028)
8.5.6 Others
8.6 Global Green Solvents Market by Region
8.6.1 North America
8.6.1.1 Historical Trend (2018-2022)
8.6.1.2 Forecast Trend (2023-2028)
8.6.2 Europe
8.6.2.1 Historical Trend (2018-2022)
8.6.2.2 Forecast Trend (2023-2028)
8.6.3 Asia Pacific
8.6.3.1 Historical Trend (2018-2022)
8.6.3.2 Forecast Trend (2023-2028)
8.6.4 Latin America
8.6.4.1 Historical Trend (2018-2022)
8.6.4.2 Forecast Trend (2023-2028)
8.6.5 Middle East and Africa
8.6.5.1 Historical Trend (2018-2022)
8.6.5.2 Forecast Trend (2023-2028)
9 North America Green Solvents Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2022)
9.1.2 Forecast Trend (2023-2028)
9.2 Canada
9.2.1 Historical Trend (2018-2022)
9.2.2 Forecast Trend (2023-2028)
10 Europe Green Solvents Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2022)
10.1.2 Forecast Trend (2023-2028)
10.2 Germany
10.2.1 Historical Trend (2018-2022)
10.2.2 Forecast Trend (2023-2028)
10.3 France
10.3.1 Historical Trend (2018-2022)
10.3.2 Forecast Trend (2023-2028)
10.4 Italy
10.4.1 Historical Trend (2018-2022)
10.4.2 Forecast Trend (2023-2028)
10.5 Others
11 Asia Pacific Green Solvents Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2022)
11.1.2 Forecast Trend (2023-2028)
11.2 Japan
11.2.1 Historical Trend (2018-2022)
11.2.2 Forecast Trend (2023-2028)
11.3 India
11.3.1 Historical Trend (2018-2022)
11.3.2 Forecast Trend (2023-2028)
11.4 ASEAN
11.4.1 Historical Trend (2018-2022)
11.4.2 Forecast Trend (2023-2028)
11.5 Australia
11.5.1 Historical Trend (2018-2022)
11.5.2 Forecast Trend (2023-2028)
11.6 Others
12 Latin America Green Solvents Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2022)
12.1.2 Forecast Trend (2023-2028)
12.2 Argentina
12.2.1 Historical Trend (2018-2022)
12.2.2 Forecast Trend (2023-2028)
12.3 Mexico
12.3.1 Historical Trend (2018-2022)
12.3.2 Forecast Trend (2023-2028)
12.4 Others
13 Middle East and Africa Green Solvents Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2022)
13.1.2 Forecast Trend (2023-2028)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2022)
13.2.2 Forecast Trend (2023-2028)
13.3 Nigeria
13.3.1 Historical Trend (2018-2022)
13.3.2 Forecast Trend (2023-2028)
13.4 South Africa
13.4.1 Historical Trend (2018-2022)
13.4.2 Forecast Trend (2023-2028)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 The Dow Chemical Company
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Cargill, Incorporated
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 Clariant International Ltd.
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Bio Brands LLC
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 Archer Daniels Midland Company
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 Corbion NV
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 CREMER OLEO GmbH & Co. KG
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 Vertec BioSolvents Inc.
15.2.8.1 Company Overview
15.2.8.2 Product Portfolio
15.2.8.3 Demographic Reach and Achievements
15.2.8.4 Certifications
15.2.9 Florachem Corp.
15.2.9.1 Company Overview
15.2.9.2 Product Portfolio
15.2.9.3 Demographic Reach and Achievements
15.2.9.4 Certifications
15.2.10 Solvay S.A.
15.2.10.1 Company Overview
15.2.10.2 Product Portfolio
15.2.10.3 Demographic Reach and Achievements
15.2.10.4 Certifications
15.2.11 Stepan Company
15.2.11.1 Company Overview
15.2.11.2 Product Portfolio
15.2.11.3 Demographic Reach and Achievements
15.2.11.4 Certifications
15.2.12 Gemtek Products
15.2.12.1 Company Overview
15.2.12.2 Product Portfolio
15.2.12.3 Demographic Reach and Achievements
15.2.12.4 Certifications
15.2.13 Other
16 Key Trends and Developments in the Market
Companies Mentioned
- The Dow Chemical Company
- Cargill, Incorporated
- Clariant International Ltd.
- Bio Brands LLC
- Archer Daniels Midland Company
- Corbion NV
- CREMER OLEO GmbH & Co. KG
- Vertec BioSolvents Inc.
- Florachem Corp.
- Solvay S.A.
- Stepan Company
- Gemtek Products
Methodology
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