(MENAFN- GlobeNewsWire - Nasdaq) Dublin, Oct. 21, 2024 (GLOBE NEWSWIRE) -- The "Green Solvents: Technologies, Emerging Opportunities and Markets" report has been added to ResearchAndMarkets.com's offering.
The green solvents market was valued at USD 4.9 billion in 2024, and is expected to reach USD 7.7 billion by 2029, rising at a CAGR of 9.3%. The green and bio-based solvents market is expected to grow significantly in the coming years, driven by strict regulations on VOC emissions and other hazardous air pollutants and increasing adoption in the Asia-Pacific region.
The shift from petrochemical and fuel products to renewable resources, along with growing government support for research into green and bio-based solvents, presents significant opportunities for market growth. The demand for eco-friendly paints and coatings has risen due to favorable regulations from entities like the European Commission (EC) and the Eco-product Certification Scheme (ECS). These solvents are crucial in dispersing or dissolving compounds used in paint production. These regulations are designed to promote the use of sustainable materials in paint production. As these regulations become more prevalent, they catalyze the adoption of green solvents, essential for dispersing or dissolving compounds in paint. This regulatory push is one of the major forces propelling the growth of the green solvents market.
The packaging industry, which uses green solvent-based sealants and adhesives for bonding applications, has grown rapidly due to increased demand for consumer goods. These factors are expected to drive market expansion during the forecast period.
Among the various green solvents, lactate esters are expected to grow at a significant rate. This prominence is due to their widespread use in pharmaceuticals, industrial applications and personal care products. Lactate esters offer several advantages, making them attractive alternatives to traditional petroleum-based solvents. They are easily recyclable, non-corrosive, 100% biodegradable and do not contribute to ozone depletion. These properties, combined with the potential for cost reductions in their production, make lactate esters a compelling choice for a variety of applications, including paints and coatings.
ADM, Braskem, Cargill, Corbion, BASF, Dow, Solvay and LyondellBasell are some major green solvent producers. These companies engage in R&D to produce eco-friendly and sustainable products. They also focus on expanding their product portfolio and strengthening the supply chain network to capture market share.
In 2023, North America dominated the global market for green solvents. A few of the major factors propelling the regional market are the presence of several green solvents manufacturing companies in the region, technological advances and stringent regulation on the use of petroleum-based products.
Report Scope
This report analyzes the global market for green solvents by segmenting it based on material, application and region.
Based on material, the market is segmented into:
Bio-based alcohol, glycol, diols D-limonene Fatty acid methyl esters (FAME) Lactate esters Others
Bio-based alcohol, glycol and diols are further bifurcated into:
Bioethanol Biobutanol Bio-PG Bio-BDO Glycerol and derivatives Others
Based on application, the market is segmented into:
Paints and coatings Cosmetics Printing inks Cleaning products Adhesives and sealants Pharmaceuticals Others
The report includes:
72 data tables and 25 additional tables An analysis of trends, technologies and opportunities in the global market for green solvents Analyses of the industry structure, with market revenue data from 2023, estimates for 2024, forecasts for 2028, and projected CAGRs through 2029 Estimates of the market size and growth forecasts both in value and volumetric terms, and a corresponding market share analysis by material type, application, and region Facts and figures pertaining to the market dynamics, technology advances, regulatory landscape, and the impact of macroeconomic variables Overview of sustainability trends and ESG developments, with emphasis on consumer attitudes, ESG score analysis, and the ESG practices of leading companies Analysis of the competitive intelligence, including company shares, strategic alliances, M&A activity and venture fundings outlook Company profiles of market leaders in the green solvents market including ADM, Braskem, Cargill Inc., Corbion, and BASF
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 119 |
| Forecast Period | 2024 - 2029 |
| Estimated Market Value (USD) in 2024 | $4.9 Billion |
| Forecasted Market Value (USD) by 2029 | $7.7 Billion |
| Compound Annual Growth Rate | 9.3% |
| Regions Covered | Global |
Key Topics Covered:
Chapter 1 Executive Summary
Market Outlook Scope of Report Market Summary
Chapter 2 Market Overview
Green Solvents Traditional Solvents Vs. Green Solvents Applications of Green Solvents Supply Chain Analysis Feedstock Green Solvents Distribution and Logistics Consumers Porter's Five Forces Analysis
Chapter 3 Market Dynamics
Market Drivers Increasing Demand for Bio-based Coatings Stringent Environmental Regulations Increasing Use of Green Solvents by End Users
Market Opportunities Technological Advances in Green Chemistry Expansion in End-use Markets
Market Challenges The High Production Cost of Green Solvents Market Competition from Traditional Solvents
Chapter 4 Regulatory Landscape
Regulatory Analysis Environmental Regulations Safety and Health Regulations Industry-specific Regulations
Chapter 5 Emerging Technologies
Technological Advances Bio-based Feedstocks Innovation in Production Technologies Green Solvents Application Technological Challenges and Future Scope
Chapter 6 Market Segmentation Analysis
Market Analysis by Material Bio-based Alcohol, Glycol, Diols D-limonene Fatty Acid Methyl Esters (FAME) Lactate Esters Other Green Solvents
Market Analysis by Application Paints and Coatings Cosmetics Printing inks Cleaning Products Adhesives and Sealants Pharmaceuticals Other Applications
Market Analysis by Region
Chapter 7 Competitive Landscape
Market Competitiveness Market Player Positioning Company Revenue Product Portfolio Geographic Presence Market Player Positioning Analysis
Chapter 8 Sustainability in Green Solvents Industry: An ESG Perspective
Importance of ESG in the Green Solvents Industry ESG Practices in the Green Solvents Industry Emerging Sustainability Trends
Companies Profiled:
ADM Astrobio BASF Bio Brands Braskem Cargill Corbion Dow LyondellBasell Industries Solvay
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