About Green & Bio-solvents
Green solvents are derived from the agricultural sources, such as corn, sugarcane, lactic acid, refined glycerin, bio succinic acid, soybean oil and similar others. They are the solvents with lowest toxicity such as acetone, ethanol, methanol, 2-propanol, ethyl acetate, isopropyl acetate, methyl ethyl ketone, 1-butanol, tert-butanol, and others. They are used as intermediates in manufacturing various products in industries including detergents, cosmetics, paints & coatings, inks, adhesives & sealants, pharmaceutical, and others.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Competition among existing players is due to the Green & Bio-solvents market share occupied by leading players. The industry leader is engaged in offering innovative and superior quality products to cater to the ever-growing demand for Green & Bio-solvents Market. The companies are implementing strategic activities such as acquisitions and mergers along with collaboration with companies in other industries to aid them in improving sustenance and maintaining their competitive advantage. Analyst at AMA Research estimates that United States Manufacturers will contribute the maximum growth to Global Green & Bio-solvents market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
BASF SE (Germany), Cargill Inc. (United States), Clariant (Switzerland), DuPont (United States), BioAmber Inc. (Canada), Myriant Corporation (United States), Archer Daniel Midland Company (United States), Cremer Oleo GmbH & Co. (Germany), Huntsman Corp. (United States), LyondellBasell Industries Holdings B.V. (Netherland), Sasol (South Africa) and Gevo Inc. (United States) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are Florachem Corporation (United States), Vertec Biosolvents (United States) and Others.
Segmentation Overview
AMA Research has segmented the market of Global Green & Bio-solvents market by Type (Bio-Alcohols, Bio-Glycols, Bio-Diols, Ethyl Lactate, D-Limonene, Methyl Soyate and Others), Application (Domestic Cleaners, Paints & Coatings, Adhesives, Printing Inks, Pharmaceuticals, Cosmetics and Others) and Region.
On the basis of geography, the market of Green & Bio-solvents has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Feedstock, the sub-segment i.e. Sugarcane will boost the Green & Bio-solvents market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increasing paints and coatings are instrumental in fuelling the growth of green and bio solvents.
Market Growth Drivers:
Increase in the demand for bio-based solvents. and Increase demand of ethyl lactate for their effectiveness.
Challenges:
High production cost.
Restraints:
Inadequate supply of feedstocks.
Opportunities:
Expansion of product portfolio., Government support and incentive in green and bio solvents. and Technological advancement such as refining process.
Market Leaders and their expansionary development strategies
In October 2023, BASF expended its growing portfolio of 14C bio-based monomers with a proprietary process for production of 2-octyl acrylate (2-OA). The new product underlines BASF’s strong commitment to innovation for a sustainable future with 73% 14C-tracable bio-based content according to ISO 16620. Besides the regular 14C bio-based 2-OA, BASF also launched the new product as 2-OA BMB ISCC Plus. Here, the remaining carbon content is ISCC PLUS certified, and by applying BASF’s biomass balance approach, this variant offers a further reduced product carbon footprint.
In February 2022, Clariant has launched its new Vita 100% bio-based surfactants and polyethylene glycols (PEGs) to help directly address climate change by helping remove fossil carbon from the value chain. Clariant is committed to fostering the transition to a more sustainable bio-economy and has a growing share of bio-based products and processing aids in its portfolio.
Key Target Audience
Manufacturers Suppliers and Distributors, Venture Capitalists and Private Equity Firms, New Entrants/Investors, Strategic Business Planners, Government Regulatory, Research Organizations, End-Use Industries and Others
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.