Green and Bio-Solvents Market 2022 | Demand, Share, Trends, Growth and Forecast 2027

According to the latest report by IMARC Group, titled “Green and Bio-Solvents Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” offers a comprehensive analysis of the industry, which comprises insights on the global green and bio-based solvents market share. The global green and bio-solvents market reached a value of US$ 11 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 18.1 Billion by 2027, exhibiting a CAGR of 8.3% during 2022-2027.

Green and bio-solvents are chemical substances derived from the processing of various crops, such as sugarcane, corn, and lactic acid, bio-succinic, refined glycerin, and soybean oil. They are eco-friendly and have a minimal odor, high boiling point, and lox miscibility. Consequently, they are widely used to manufacture cosmetics, pharmaceuticals, agrochemicals, and domestic cleaning products worldwide.

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Global Green and Bio-Solvents Market Trends:

There is currently a rise in the utilization of green and bio-based solvents for drug discovery and development across the globe. This, along with a significant increase in the demand for environment-friendly solvents, represents one of the key factors strengthening the market growth. As green solvents are nonozone-depleting, noncorrosive, and non-carcinogenic, they are extensively used as an alternative to synthetic solvents, such as acetone, xylene, and toluene. Moreover, the growing adoption of consumer products like perfumes is catalyzing the demand for these solvents. Furthermore, there is a rise in the utilization of green and bio-solvents in the agriculture sector to increase the yield, improve product quality, and reduce the overall cost. Leading market players are investing in research and development (R&D) activities, which is also acting as a growth-inducing factor. Besides this, the market is propelled by the expanding applications of these solvents in the manufacturing of paints and coatings.

Report Segmentation:

The report has segmented the market into the following categories:

Breakup by Type:

Lactate Esters
Methyl Soyate Solvents
Bio-Alcohols, Bio-Diols and Bio-Glycols
D-Limonene
Others

Breakup by Application:

Paints and Coatings
Printing Inks
Cleaning Products
Adhesives and Sealants
Others

Market Breakup by Region:

North America (United States, Canada)
Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
Latin America (Brazil, Mexico, Others)
Middle East and Africa

Competitive Landscape with Key Player:

Archer Daniels Midland Company
BASF SE
Cargill
Incorporated
CREMER OLEO GmbH & Co. KG
Dow Inc.
Elevance Renewable Sciences Inc.
Florachem Corporation
Huntsman Corporation
LyondellBasell Industries N.V.
Vertec Biosolvents Inc.

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