The global market for green solvents should grow from $4.2 billion in 2018 to $5.9 billion by 2023 at a compound annual growth rate (CAGR) of 7.0% for the period of 2018-2023.
The scope of this report is broad and covers the types of green solvents used for various application industries. The market is broken down by material type, region, country and application. Revenue and volume forecasts from 2018 to 2023 are given for each green solvent material, application, region and country.
The report also includes a discussion of the major players across different solvent materials. Furthermore, it explains the major drivers and regional dynamics of the green solvent market and current industry trends.
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- 183 data tables
- Brief overview and market intelligence on green solvents produced commercially and those that are in the development pipeline
- Analyses of global market trends with data from 2017 to 2018, and projections of compound annual growth rates (CAGRs) through 2023
- Coverage of various types of green solvents used in diverse industry applications
- Elaboration on the influence of government regulations, current technology, and the economic factors that are and will shape the marketplace
- Emphasis on the manufacturer landscape and includes detailed profiles of the major manufacturer’s in the green solvent market
- Profiles of major companies of the industry including, 3M, Akzo Nobel, Procter & Gamble Co., Roche and Solvay
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Governments and industries around the world are looking for ways to reduce carbon dioxide emissions as well as their dependence on oil-based products, and green solvent is seen as one way to accomplish these goals. In recent years, rising environmental concerns and support from manufacturers of paints and coatings, cosmetics and many others are putting real wind in the sails of green solvents.
Rising demand for green solvents results in increased supply. Many producers are pushing the use of bio-based materials as solvents in various industries. The personal care and cosmetics industry across the world has widely accepted bioethanol as an important solvent material. The paints and coatings industry is trying to reduce environmental impact by replacing conventional solvents with bio-based low volatile organic compounds (VOCs). In addition, manufacturers of printing inks, cleaning products, pharmaceuticals, foods, adhesives and other products also have increasing demands for various types of green solvents. All these factors will drive the global green solvents market to grow at a CAGR of
REDACTED over the next five years.
This report defines green solvents as biosolvents derived from biomass, including agricultural residues, sugarcane and corn. Today the solvent world is still dominated by fossil-derived products but biosolvents will have much faster growth.
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