About Bio Based Solvent
Bio-based solvents are defined as solvents produced from biomass sources like forest products, agricultural residue, aquatic biomass and others. Most bio-based solvents are made from sugar, corn, or beet. They are able to replace oil-based solvents and they are safe and effective like traditional solvents. Furthermore, bio based solvents does not release toxic by-products and volatile organic compounds (VOC) during their manufacturing process. They have unique features low toxicity, low miscibility, hence they are becoming more preferred solvents in the recent years. Bio based solvents are used for paints, coatings, printing inks, cosmetics, personal care products, sealants, pharmaceuticals, and others. Owing to their wide applicability, solvents suppliers see the demand for bio-based solvents growing fast. In addition, numerous manufacturers are looking to develop new water-based solvents. Consumers are also prefer eco-friendly solvents or over conventional products. Many industries are looking for sustainable eco-friendly product manufacturing owing to raised environmental awareness. North America secures high demand for bio based solvents owing to technological advancements in the production. However, the Asia Pacific region is expected to grow over the upcoming years. Countries such as China, India, Thailand, Japan and Malaysia are seeing a growing interest in eco-friendly agrochemical solutions, pharmaceuticals, cosmetics and other applications.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The market of Bio-based solvents is expected to grow with rising demand from end use industries such as cosmetics, pharmaceutical companies, and others. Market specifically witnessing huge demand from paintings industries. Though high cost and requirement of technically keen handling is creating burden on the market. Major players like Acme-Hardesty Company, DuPont and Cargill Incorporation in the industry are gaining attention from the market. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Acme-Hardesty Company (United States), Cargill Incorporated (United States), Vertec BioSolvents (United States), Dow Chemicals (United States), BASF SE (Germany), Du Pont (United States), Solvay (Belgium), BioAmber Inc.(Canada), PTT Global Chemical Public Company Limited (United States), Stora Enso (Finland), Arkema (France) and Sekab (Sweden) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Bio Based Solvent market by Type (Bio Based Alcohol, Bio based Ethanol, Furfuryl alcohol, Glycerol, Others, Bio Based Esters, Ionic Liquids, Sugar Based and Lipid Based) and Region.
On the basis of geography, the market of Bio Based Solvent has been segmented into
. If we see Market by Packaging Type, the sub-segment i.e. Bottles will boost the Bio Based Solvent market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End Use, the sub-segment i.e. Painting & Coatings will boost the Bio Based Solvent market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Biomass Source, the sub-segment i.e. Agricultural Residue will boost the Bio Based Solvent market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increased Inclination towards Eco-Friendly Solvents and Rising Environmental Awareness Has Impacted On the Bio Based Product Offerings of Industries in Positive Manner
Market Growth Drivers:
Increased Inclination towards Eco-Friendly Solvents and Rising Environmental Awareness Has Impacted On the Bio Based Product Offerings of Industries in Positive Manner
Challenges:
Uncertainty Regarding Availability of Raw Material
Restraints:
High Cost of Production
Opportunities:
Rising Investments for Adoption & Manufacturing of Bio Based Products Has Created Opportunity for the Market and Government Regulations for Environmental Preservation Has Created an Exponential Opportunity for the Development of Innovative Green Solutions
In April 2019, Braskem has launch renewable solvent HE-70S made from sugarcane ethanol. The new solvent is used mainly by the footwear, furniture and ceramics industries, as well as by ink and thinner manufacturers. As it is from the oxygenated solvents group, the solution features high solvency power and a high evaporation rate which offers advantages to lower environmental impacts., and In August 2019, Researchers of GREEN-CHEM has developed a new and safer bio-based solvent named Cyrene. It was produced from renewable cellulose of plantation softwood sawdust. The novel bio-based solvent Cyrene is well alternatives for certain hazardous solvents. Cyrene is completely biodegradable and nontoxic to any of the microorganisms in receiving waters or aerobic waste water treatment plants.
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.