Global Bio-based Solvent Market Growth 2023-2029

Global Bio-based Solvent Market Growth 2023-2029

Green and bio-based solvents serve as an alternative to the conventional solvents in the market as they help in reducing the negative environmental impact caused from the use of solvents in chemical production. Green and bio-based solvents are produced from renewable resources; they are biodegradable, non-corrosive & non-carcinogenic in nature, recyclable and help prevent ozone depletion.

LPI (LP Information)' newest research report, the “Bio-based Solvent Industry Forecast” looks at past sales and reviews total world Bio-based Solvent sales in 2022, providing a comprehensive analysis by region and market sector of projected Bio-based Solvent sales for 2023 through 2029. With Bio-based Solvent sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Bio-based Solvent industry.

This Insight Report provides a comprehensive analysis of the global Bio-based Solvent landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Bio-based Solvent portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms' unique position in an accelerating global Bio-based Solvent market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Bio-based Solvent and breaks down the forecast by type, by application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Bio-based Solvent.

The global Bio-based Solvent market size is projected to grow from US$ million in 2022 to US$ million in 2029; it is expected to grow at a CAGR of % from 2023 to 2029.

Easy availability of biofuels, rising environmental awareness and increasing demand for sustainable products are main factors contributing to the growth of market. Rising environmental awareness has increased the preference for bio-based or green solvents over conventional solvents. As these solvents are VOC-free, consumers are not exposed to harmful chemicals. Biofuels are derived from plants or animals and these raw materials are easily available in the market. This offers significant opportunities for the production of biofuel. Moreover, the transportation of biofuels is also much easier than conventional fossil fuels. The rising demand from key application segments such as paints & coatings and adhesives is also expected to propel the market demand over the forecast period. The growing application scope of green & bio-based solvents in the afore mentioned segments can be attributed to the minimal environmental impacts caused by the products, mainly as they are derived from organic and renewable sources. North America would continue to dominate the market through 2020 due to intense awareness among the consumers for the adoption of green solvents and robust improvement in the U.S. & Mexican construction industry. However, Asia-Pacific will be the fastest growing market and is expected to grow at a CAGR of 6.2% during 2015-2020.

This report presents a comprehensive overview, market shares, and growth opportunities of Bio-based Solvent market by product type, application, key manufacturers and key regions and countries.

Market Segmentation:

Segmentation by type
Lactate Esters
Methyl Soyate
Alcohols
D-Limonene
Others

Segmentation by application
Adhesives & Sealants
Printing Ink
Industrial & Domestic Cleaners
Paints & Coatings

This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
Archer Daniels Midland Company
BASF
Cargill
The Dow Chemical Company

Key Questions Addressed in this Report

What is the 10-year outlook for the global Bio-based Solvent market?

What factors are driving Bio-based Solvent market growth, globally and by region?

Which technologies are poised for the fastest growth by market and region?

How do Bio-based Solvent market opportunities vary by end market size?

How does Bio-based Solvent break out type, application?

What are the influences of COVID-19 and Russia-Ukraine war?

Please note: The report will take approximately 2 business days to prepare and deliver.