Solvent Recovery & Recycling

Solvent Recovery & Recycling

Global Solvent Recovery & Recycling Market to Reach US$1.3 Billion by 2030

The global market for Solvent Recovery & Recycling estimated at US$1.1 Billion in the year 2023, is expected to reach US$1.3 Billion by 2030, growing at a CAGR of 3.3% over the analysis period 2023-2030. N-Methyl-2-Pyrrolidone (NMP) Solvent, one of the segments analyzed in the report, is expected to record a 4.3% CAGR and reach US$276.0 Million by the end of the analysis period. Growth in the Acetone Solvent segment is estimated at 4.1% CAGR over the analysis period.

The U.S. Market is Estimated at US$286.8 Million While China is Forecast to Grow at 6.5% CAGR

The Solvent Recovery & Recycling market in the U.S. is estimated at US$286.8 Million in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$274.7 Million by the year 2030 trailing a CAGR of 6.5% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 1.0% and 2.5% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 1.8% CAGR.

Global Solvent Recovery & Recycling Market - Key Trends and Drivers Summarized

Solvent recovery and recycling is a crucial process within various industrial sectors, involving the collection and purification of used solvents for reuse. This practice not only minimizes waste but also reduces the need for purchasing new solvents, thereby offering both environmental and economic benefits. The process typically involves distillation, filtration, and other separation techniques to remove contaminants and restore the solvent to its original quality. Industries such as pharmaceuticals, chemicals, paints, and coatings heavily rely on solvents, making solvent recovery and recycling an integral part of their operational efficiency and sustainability strategies.

The significance of solvent recovery and recycling has been underscored by increasing regulatory pressures and a growing emphasis on sustainable practices. Governments worldwide are enforcing stringent regulations on the disposal of hazardous waste, prompting industries to adopt more sustainable waste management practices. Additionally, the rising costs of raw materials and the volatility of solvent prices are compelling companies to seek cost-effective alternatives, such as recycling. Technological advancements have also played a pivotal role, with modern solvent recovery systems offering higher efficiency, better purity levels, and improved safety features. These innovations are not only reducing the environmental footprint of industrial operations but also enhancing their profitability by lowering waste disposal and raw material costs.

The growth in the solvent recovery and recycling market is driven by several factors. Firstly, the increased adoption of circular economy principles is pushing industries towards more sustainable and resource-efficient practices. This shift is particularly evident in regions with stringent environmental regulations, such as Europe and North America. Secondly, advancements in recovery technologies, including the development of automated and highly efficient systems, are making solvent recycling more feasible and attractive to a wider range of industries. Thirdly, the rising awareness among consumers and businesses about environmental sustainability is creating a demand for greener products and practices, encouraging industries to invest in solvent recovery solutions. Lastly, the economic benefits of reducing raw material costs and minimizing waste disposal fees are compelling more companies to integrate solvent recovery into their operations. These drivers collectively ensure that the solvent recovery and recycling market is poised for robust growth in the coming years.

 

Select Competitors (Total 86 Featured) -

• Börger GmbH
• CBG Biotech Ltd
• Clean Harbors, Inc.
• CleanPlanet Chemical
• Cyclesolv LLC
• Dalal Engineering Pvt. Ltd.
• Goel Scientific Glass Works Ltd.
• Grupo Tradebe Medioambiente, s.l.
• Indaver
• Jacobi Carbons AB (Sweden)
• Maratek Environmental
• Pragmatic Environmental Solutions Company
• Shinko Organic Chemical Industry Ltd.
• Veolia Environnement S.A.
• Vertec Biosolvents, Inc.;

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