Green solvents and bio-based solvents are manufactured from agricultural sources such as sugar, corn, beet root etc. The petroleum based solvents release high amounts of volatile organic compounds (VOC) which have great environmental implications. Bio-based solvents have properties like high boiling point, less odor, easy recyclability, and low toxicity. Rising regulatory pressure restricting use of chemical solvents and its eco–friendly nature are the prime reasons for manufacturers to shift towards this market. The green and bio-solvents market is witnessing a moderate to high growth in the recent years and is expected to continue so on in the near future. The global green solvents & bio solvents market is expected to have a CAGR of 8% during the forecast period 2016-2023.
The major factors that are driving the green & bio-solvents market are favorable environmental & governmental regulatory pressure designed to reduce the emissions of ODS, VOCs, and HAPs; improved competitiveness in petrochemical solvents and volatility in the crude oil prices. Various properties like low toxicity and easy recyclability of green and bio solvents have enabled their use in variety of applications like paints and coating, pharmaceuticals, commercial and domestic cleaning, printing inks, adhesives and sealants and cosmetics. This has increased extensive applications of green and bio solvents across various end user industries and are likely to spur the growth of the green and bio solvents market during the period. However, use of green and bio solvents results in an increase in cost of production hampering the market growth to certain extent. Also lack of supply chain model in feedstock and hence uncertainty about adequate supply of feedstock is major restraint for the global green and bio-based solvents market. Nevertheless, the expanding applications for green and bio-based solvents due to the environmental repercussion of their synthetic counterparts will offer various opportunities to this market in coming years. High cost and adoption of new technologies due to substantial capital requirement in R&D and scaling up production of bio solvents would be a major challenge for the market.
Source: OBRC Analysis
The global green solvents and bio-based solvents market is segmented on the basis of type and applications. On the basis of type the market is sub segmented into:
- Esters
- Bio-alcohols
- Bio glycols
- Bio diols
- D-limonene
- Methyl Soyate
On the basis of application segment, the market is sub segmented into:
- Paints & coatings
- Industrial & domestic cleaners
- Pharmaceuticals
- Cosmetics
- Personal care
- Others
The revenue for the above application segments is specific to the green solvent & bio solvents market. However, the total revenue of these application in general has been excluded from the scope of the report. Also, the total market revenue has been calculated by summing up type segment.Geographically, the global green solvents & bio solvents market is segmented into:
- North America (U.S. & Canada)
- Asia Pacific (China, India, Japan, RoAPAC)
- Europe (UK, France, Germany, RoE)
- Rest of World
Asia Pacific is expected to be one the fastest growing market in the green solvent and bio solvent market due to rising consumption level of green and bio solvent market of end-use industries. Latin America bio solvent and green solvent market is driven by factors such as increasing use in application such as personal care, paint and coatings and pharmaceuticals. North America is expected to dominate the market due to revival of the construction industry. Moreover, intense awareness of green solvents and robust improvement in the construction industries in the U.S. andMexico is dominating the North Americaregion in global green solvents & bio solvents market.
The global green solvents and bio-based solvents market is segmented on the basis of type and applications. On the basis of type the market is segmented as esters, bio-alcohols, bio glycols, bio diols, D-Limonene, methyl soyate etc. Furthermore, esters are segmented into methyl esters, lactate esters, & others. Product wise, alcohol-based bio solvent market is among the most attractive segment, both in terms of growth rate as well as market share.. The wide applications of alcohol based bio solvents in the pharmaceuticals and cosmetics industry and its less toxicity than their counterparts are major driver for the growth of the market. In 2016, approximately 27% of the total consumption accounted by lactate ester segment only. On the basis of different application the market is segmented as paints & coatings, industrial & domestic cleaners, pharmaceuticals, cosmetics, personal care and others. In the application segment, industrial and domestic cleaner is expected to have highest CAGR of around 7.8% percent, in terms of volume and paints and coatings segment is forecasted to be the largest revenue-generating segment with a share of more than 30% in 2014.
The major market players of the global green solvents & bio solvents market are:
- ARCHER DANIELS MIDLAND COMPANY
- BASF
- BIO-AMBER INC.
- CARGILL INC.
- CREMER OLEO GMBH & CO.
- OTHERS
Detailed analysis of these companies provided in this report comprises of overview, SCOT analysis, product portfolio, strategic initiative and strategic analysis.
These companies use various strategies such as merger & acquisition, collaboration, partnership and product launching. Example: DuPont merged with DOW Chemical in October 2016. With this merger, Dow Chemicals and DuPont came together to make a visionary venture to help them to increase their market in North America and take on rivals such as BASF and Bayer. Similarly, in August 2015, BioAmber Inc opened its BioAmber Sarnia Plant that was built in collaboration with Mitsui & Co Ltd. It is the world’s largest succinic acid plant with a capacity of approximately 30,000 tons per year.
Why to buy the report:
This report will:
- Provide you the business strategies adopted by market player such as expansion as in August 2015, BioAmber Inc opened its BioAmber Sarnia plant that was built in collaboration with Mitsui & Co Ltd
- Provide in detail the different segments such as type and application which affect the global green solvents & bio solvents market.
- Provide you the patent analysis of global green solvents & bio solvents market.
- Identify and understand the strengths, opportunities, challenges and threats of global green solvents & bio solvents market.
- Provide revenues of major players of the market such as BioAmber, Bayer. .
- Provide you various regulatory policies which affect the global green solvents & bio solvents market.
How we are different from others:
At Occams we provide an extensive portfolio which is comprehensive market analysis along with the market size, market share, and market segmentations. Our report on global green solvents & bio solvents market offers the longest chain of market segmentation covering major market segmentation based on application and type. The report tracks the major market trends in the globalgreen solvents & bio solvents market such as growing environmental concerns, government regulation and so on. For each market segments covered in global green solvents &bio solvents market report, we provide opportunity matrix, and DRO analysis, that enable the clear growth assessment across each market segment. The report discusses competitive landscape of the green solvents & bio solvents industry, with giving extensive strategy analysis of more than 15 companies. Moreover, the report discusses various models such as 360 degree analysis, See Saw analysis, and Porter five force model and so on. For the high level analysis in the report we provide a comparative analysis of historic and current year data.
Key findings of the global green solvents & bio solvents market:
- North America had the largest revenue share in 2016.
- Expansion and mergers are the key strategy adopted by the various market players of global green solvents &bio solvents market.
- Methyl soyate is the major segment of type.
