Green and Bio-Based Solvents Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 7.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Green and Bio-Based Solvents Market Analysis
The market for green and bio-based solvents is expected to grow at a CAGR of more than 7% during the forecast period. Major factors driving the market studied are stringent regulation on VOC emissions and other hazardous air pollutants and increasing market penetration of bio-based and green solvents in asia-pacific.
- The transition of petrochemical and fuel products toward renewable resources, and increasing government support for research of green and bio-based solvents to act as an opportunity to the market.
- Asia-Pacific dominated the market across the globe with the largest consumption in country such as China, India, etc.
Green and Bio-Based Solvents Market Trends
This section covers the major market trends shaping the Green & Bio-based Solvents Market according to our research experts:
Paints and Coatings Segment to Dominate the Market
- Paints and coatings segment holds the largest share of the global green and bio-based solvents market.
- Lactate esters solvents are commonly used green solvents in the paints and coatings industry and particularly ethyl lactate is a fascinating solvent for the coatings industry as it is successfully replaced solvents, like NMP, toluene, acetone, and xylene.
- Furthermore, the global paints and coatings market is growing at a healthy rate, majorly owing to the increasing housing construction activities in the region such as Asia-Pacific, North America, Middle East & Africa, among others.
- Furthermore, with the increasing housing construction, population, and income-levels in countries, such as India, China, Mexico and Brazil, the demand for paints and coatings is increasing at a healthy rate.
- The significantly growing paints and the coatings are instrumental in fuelling the growth of green and bio-based solvents in the coming future.
China to Dominate the Asia-Pacific Region
- Asia-Pacific represents the market with the highest growth owing to the immense demand from the paints & coatings, agrochemical solutions, pharmaceuticals, cosmetics and other applications in the countries, like China.
- China is one of the fastest-growing economies globally and almost all the end-user industries are growing, owing to the rising population, living standards, and per capita income. It is the most populated country in the world, with high availability of skilled labor. The country's geographical location provides easy access to the industrial goods markets, which makes it a major access point for manufacturers and suppliers.
- The majorly used feedstock for the production of bioethanol in China is cassava followed by corn. Apart from this, China also uses wheat, sorghum, and rice to produce bioethanol.
- Furthermore, the cosmetic sector of the country is growing at a rapid pace. The country's domestic cosmetics brands are performing very well as a result of their expansion into second- and third-tier markets. They have also been vigorously developing online sales and boosting advertising on new-media platforms, such as WeChat and Weibo, to raise brand recognition.
- Also, China has one of the largest healthcare sector across the globe. The major factors for the increasing investments are the growing demand for high-tech medical devices to formulate medicines to treat chronic and age-related diseases, and growing healthcare policy support.
- Additionally, the country's 13th Five-Year Plan prioritizes health and innovation, Construction which is expected to increase investments in the various sector in the country during the forecast period.
- Such factors are likely to increase the demand for the market.
Green and Bio-Based Solvents Industry Overview
The green and bio-based solvents market is partially fragmented. Some of the key players include Dow, LyondellBasell Industries Holdings BV, Florachem Corporation, Cargill Incorporated, Total Corbion PLA bv, among others
Green and Bio-Based Solvents Market Leaders
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LyondellBasell Industries Holdings B.V.
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Florachem Corporation
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Cargill Incorporated
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Dow
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Total Corbion PLA bv
*Disclaimer: Major Players sorted in no particular order
Green and Bio-Based Solvents Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
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4.1 Drivers
- 4.1.1 Stringent Regulation on VOC Emissions and Other Hazardous Air Pollutants
- 4.1.2 Increasing Market Penetration of Bio-based and Green Solvents in Asia-Pacific
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4.2 Restraints
- 4.2.1 Cost and Availability of New Technologies
- 4.2.2 High Production Cost and Uncertainty Regarding Feedstock Supplies
- 4.3 Industry Value-Chain Analysis
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4.4 Porter's Five Forces Analysis
- 4.4.1 Bargaining Power of Suppliers
- 4.4.2 Bargaining Power of Consumers
- 4.4.3 Threat of New Entrants
- 4.4.4 Threat of Substitute Products and Services
- 4.4.5 Degree of Competition
- 4.5 Technological Snapshot
- 4.6 Patent Analysis
5. MARKET SEGMENTATION
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5.1 Type
- 5.1.1 Bio-alcohols
- 5.1.1.1 Bio-ethanol
- 5.1.1.2 Bio-methanol
- 5.1.1.3 Bio-propanol
- 5.1.1.4 Bio-butanol
- 5.1.2 Bio-glycols
- 5.1.2.1 Bio-based Propylene Glycol
- 5.1.2.2 Bio-based Ethylene Glycol
- 5.1.3 Bio-diols
- 5.1.4 Ethyl Lactate
- 5.1.5 D-limonene
- 5.1.6 Methyl Soyate
- 5.1.7 Other Types
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5.2 Application
- 5.2.1 Paints and Coatings
- 5.2.2 Industrial and Domestic Cleaning
- 5.2.3 Printing Inks
- 5.2.4 Adhesives and Sealants
- 5.2.5 Pharmaceutical
- 5.2.6 Cosmetics
- 5.2.7 Agriculture
- 5.2.8 Other Applications
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5.3 Geography
- 5.3.1 Asia-Pacific
- 5.3.1.1 China
- 5.3.1.2 India
- 5.3.1.3 Japan
- 5.3.1.4 South Korea
- 5.3.1.5 Rest of Asia-Pacific
- 5.3.2 North America
- 5.3.2.1 United States
- 5.3.2.2 Canada
- 5.3.2.3 Mexico
- 5.3.3 Europe
- 5.3.3.1 Germany
- 5.3.3.2 United Kingdom
- 5.3.3.3 Italy
- 5.3.3.4 France
- 5.3.3.5 Rest of Europe
- 5.3.4 South America
- 5.3.4.1 Brazil
- 5.3.4.2 Argentina
- 5.3.4.3 Rest of South America
- 5.3.5 Middle-East and Africa
- 5.3.5.1 Saudi Arabia
- 5.3.5.2 South Africa
- 5.3.5.3 Rest of Middle-East and Africa
6. COMPETITIVE LANDSCAPE
- 6.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements
- 6.2 Market Share Analysis**
- 6.3 Strategies Adopted by Leading Players
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6.4 Company Profiles
- 6.4.1 Archer Daniels Midland Company (ADM)
- 6.4.2 Bio Brands LLC
- 6.4.3 BioAmber Inc
- 6.4.4 Cargill Incorporated
- 6.4.5 Corbion NV
- 6.4.6 Cremer Oleo GmbH & Co. Kg
- 6.4.7 Dow
- 6.4.8 Elevance Renewable Sciences Inc.
- 6.4.9 Florachem Corporation
- 6.4.10 Florida Chemical Company
- 6.4.11 Galactic
- 6.4.12 Gemtek Products
- 6.4.13 Gevo
- 6.4.14 LyondellBasell Industries Holdings BV
- 6.4.15 Vertec BioSolvents
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
- 7.1 Transition of Petrochemical and Fuel Products toward Renewable Resources
- 7.2 Increasing Government Support for Research of Green and Bio-based Solvents
Green and Bio-Based Solvents Industry Segmentation
The green and bio-based solvents market report includes:
| Type | Bio-alcohols | Bio-ethanol |
| Bio-methanol | ||
| Bio-propanol | ||
| Bio-butanol | ||
| Type | Bio-glycols | Bio-based Propylene Glycol |
| Bio-based Ethylene Glycol | ||
| Type | Bio-diols | |
| Ethyl Lactate | ||
| D-limonene | ||
| Methyl Soyate | ||
| Other Types | ||
| Application | Paints and Coatings | |
| Industrial and Domestic Cleaning | ||
| Printing Inks | ||
| Adhesives and Sealants | ||
| Pharmaceutical | ||
| Cosmetics | ||
| Agriculture | ||
| Other Applications | ||
| Geography | Asia-Pacific | China |
| India | ||
| Japan | ||
| South Korea | ||
| Rest of Asia-Pacific | ||
| Geography | North America | United States |
| Canada | ||
| Mexico | ||
| Geography | Europe | Germany |
| United Kingdom | ||
| Italy | ||
| France | ||
| Rest of Europe | ||
| Geography | South America | Brazil |
| Argentina | ||
| Rest of South America | ||
| Geography | Middle-East and Africa | Saudi Arabia |
| South Africa | ||
| Rest of Middle-East and Africa |
Green and Bio-Based Solvents Market Research FAQs
What is the current Green and Bio-based Solvents Market size?
The Green and Bio-based Solvents Market is projected to register a CAGR of greater than 7% during the forecast period (2024-2029)
Who are the key players in Green and Bio-based Solvents Market?
LyondellBasell Industries Holdings B.V. , Florachem Corporation, Cargill Incorporated, Dow and Total Corbion PLA bv are the major companies operating in the Green and Bio-based Solvents Market.
Which is the fastest growing region in Green and Bio-based Solvents Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Green and Bio-based Solvents Market?
In 2024, the North America accounts for the largest market share in Green and Bio-based Solvents Market.
What years does this Green and Bio-based Solvents Market cover?
The report covers the Green and Bio-based Solvents Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Green and Bio-based Solvents Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Green & Bio-Based Solvents Industry Report
Statistics for the 2024 Green & Bio-Based Solvents market share, size and revenue growth rate, created by Mordor Intelligenceā¢ Industry Reports. Green & Bio-Based Solvents analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
