Solvent Recovery and Recycling Market Report 2024

This Solvent Recovery and Recycling market report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.

The solvent recovery and recycling market size has grown strongly in recent years. It will grow from $1.03 billion in 2023 to $1.1 billion in 2024 at a compound annual growth rate (CAGR) of 6.8%. The growth observed during the historical period can be attributed to a heightened emphasis on environmental sustainability and strict regulations, an increase in solvent usage, rising public awareness regarding the effects of solvent waste, an intensified focus on sustainable practices and cost-effective manufacturing processes, and greater awareness of climate change.

The solvent recovery and recycling market size is expected to see strong growth in the next few years. It will grow to $1.44 billion in 2028 at a compound annual growth rate (CAGR) of 7%. The anticipated growth during the forecast period can be linked to the increasing adoption of circular economy principles, rapid industrialization, expansion in the chemicals industry, rising demand for green solvents, and the implementation of stricter waste management legislation. Key trends expected in this period include innovations in solvent recovery technologies, enhanced initiatives for eco-friendly practices, the development and adoption of green and bio-based solvents, the implementation of temperature-swing molecular imprinting technology, and a growing shift towards sustainable alternatives for solvent recovery and recycling.

The increasing awareness of environmental issues is anticipated to drive the growth of the solvent recovery and recycling market in the future. This heightened awareness stems from greater media coverage, educational initiatives, and advocacy efforts, which have led to a rise in public concern and understanding. Solvent recovery and recycling help tackle environmental challenges by minimizing hazardous waste, decreasing the use of virgin resources, and lowering greenhouse gas emissions. This sustainable approach aligns with regulatory standards and supports a circular economy, promoting responsible chemical management while reducing environmental impact. For example, a report from the Office for National Statistics, a UK government department, indicated in July 2023 that 86.5% of adults in Great Britain have made lifestyle changes to address environmental issues, with 73.6% reporting some changes and 12.8% making significant adjustments. Thus, the growing awareness of environmental concerns is fueling the growth of the solvent recovery and recycling market.

Key players in the solvent recovery and recycling market are concentrating on developing advanced solutions, such as on-site solvent recycling systems, to minimize waste generation and reduce operational costs. These on-site systems facilitate the collection, purification, and reuse of solvents within industrial processes. They help decrease the demand for new solvents, lower hazardous waste disposal expenses, and enhance environmental sustainability. For instance, Unified Technologies, a US-based technology firm, launched its SR Series batch-type solvent recyclers in July 2022. This product line includes SR30 solvent recyclers, larger batch solvent recyclers, and continuous flow solvent recyclers, providing a cost-effective solution for recycling solvents and hazardous chemicals from industrial operations. These systems are constructed from durable, corrosion-resistant stainless steel and are designed for minimal maintenance, requiring only a straightforward four-hour routine every 2,000 hours of operation. The SR Series recyclers are fully automated and controlled by a PLC with preset parameters and alarm signals, capable of completing a distillation cycle every six hours. Available in various tank capacities, these systems offer a quick return on investment (ROI), typically within 4 to 12 months of usage.

In October 2023, J.F. Lehman & Company, a private equity investment firm based in the US, acquired Heritage-Crystal Clean Inc. for an undisclosed sum. This acquisition aims to enhance J.F. Lehman’s environmental services portfolio by leveraging Crystal Clean’s strong market presence and reputation for delivering high-quality services. Heritage-Crystal Clean Inc. is a US provider of on-site solvent recycling services.

Major companies operating in the solvent recovery and recycling market are Veolia Environnement SA, GFL Environmental Inc., CLEAN HARBORS INC., Indaver NV, Hydrite Chemical Co. Inc., Tradebe, Gage Products Company, Maratek Environmental, Progressive Recovery Inc., Altiras, OFRU Recycling GmbH & Co. KG, CBG Biotech Ltd., Solvent Waste Management Inc., CleanPlanet Chemical Inc., CYCLESOLV LLC, Refine Americas Inc., Polaris Srl, Rufouz Hitek Engineers Pvt. Ltd., ECOVE Solvent Recycling Corporation, Banashankari Chemicals Pvt. Ltd., Tidychem Recycling Pte Ltd.

North America was the largest region in the solvent recovery and recycling market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the solvent recovery and recycling market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the solvent recovery and recycling market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Solvent recovery and recycling refer to the processes employed to reclaim and reuse solvents from industrial applications, which helps reduce waste and lessen environmental impact. This approach lowers costs by decreasing the need for new solvents, minimizes hazardous waste disposal, and promotes sustainability by conserving raw materials and reducing dependence on the production of virgin solvents.

The primary types of solvent recovery and recycling are on-site and off-site solvent recycling. On-site solvent recycling involves the installation of equipment at the user's facility to purify and reuse solvents, which reduces waste and costs while minimizing transportation and storage requirements. Various technologies are utilized in this process, including distillation, adsorption, crystallization, and membrane separation, with solvents such as alcohols, amides, esters, ketones, aromatic solvents, and chlorinated solvents. These practices are employed across several end-use industries, including paints and coatings, printing, chemicals, electronics, and pharmaceuticals.

The solvent recovery and recycling market research report is one of a series of new reports that provides solvent recovery and recycling market statistics, including solvent recovery and recycling industry global market size, regional shares, competitors with a solvent recovery and recycling market share, detailed solvent recovery and recycling market segments, market trends, and opportunities, and any further data you may need to thrive in the solvent recovery and recycling industry. This solvent recovery and recycling market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The solvent recovery and recycling market consists of revenues earned by entities by providing services such as solvent collection, waste minimization solutions, custom blending and repackaging, and regulatory compliance support. The market value includes the value of related goods sold by the service provider or included within the service offering. The solvent recovery and recycling market also includes sales of centrifuges, filtration systems, vacuum pumps, storage tanks, and solvent recyclers. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


This product will be delivered within 3-5 business days.