Green Solvents Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis

Analyst Perspective 

The global green solvents market is expected to register a CAGR of ~5%. The growing demand for eco-friendly products is a significant factor that drives the growth of the green solvents market. Stringent environmental regulations, technological advancements, and the rising cost of traditional solvents are major growth drivers for the green solvents market. Consumers are increasingly seeking sustainable options, a significant opportunity for the growth of the green solvent market. Higher initial costs, limited availability, and lack of awareness are significant challenges that may hamper green solvents market growth. New product development may offer lucrative growth opportunities in the forecasted period.

Market Overview

Green solvents are eco-friendly alternatives to traditional ones, causing less environmental harm. They are safer, with lower toxicity and flammability. These solvents are widely used in industries like paint, coating, cleaning, and pharmaceuticals, making them a sustainable choice for businesses. The packaging industry, spurred by increased consumer goods demand, boosts the green solvents market. Green solvent-based adhesives and sealants, known for their eco-friendly characteristics, are increasingly used in bonding applications, contributing to market growth. The bio-based segment of the green solvent market is up-and-coming due to its renewable and biodegradable nature. Investments in research and development of new green solvent technologies are crucial in driving cost reductions and performance improvements. Green solvents are generally more expensive than traditional ones, hindering widespread adoption. However, technological advancements and economies of scale are expected to bridge the gap in the future. The Asia-Pacific region is expected to lead the charge due to rapid industrialization and growing environmental awareness.

 

Market Drivers     

• Traditional solvents are always derived from petroleum and can harm the environment. On the other hand, green solvents are made from renewable resources and are biodegradable, making them a more sustainable option for businesses and consumers.
• Consumers are becoming more aware of the environmental impact of the products they purchase, which leads to a demand for products made with sustainable materials and processes. Green solvents can be used to make various products, from paints and coatings to cleaning products and cosmetics. 

 

Market Segmentation

The global green solvents market is segmented based on type and application. The global green solvents market is segmented based on type into bioalcohols, bioglycols, bio-diols, d-limonene, lactate esters, methyl solate, and others. The global green solvents market is segmented based on application into paints & coatings, printing inks, adhesives and sealants, cosmetics, pharmaceuticals, agriculture, cleaning products, and others.

Regional Analysis 

The report provides a detailed industry overview, which includes qualitative and quantitative information. It overviews and forecasts the global green solvents market based on several segments. It also provides market size and forecast estimates from 2021 to 2031 concerning five major regions: Europe, North America, Asia-Pacific (APAC), Middle East & Africa (MEA) and South & Central America. The green solvents market by region is also sub-segmented by respective countries and segments. The green solvents market report covers an analysis and forecast of eighteen countries globally and the prevailing trends and opportunities in the region.

The report analyses factors affecting the green solvents market from both the demand and supply side. Furthermore, it evaluates market dynamics during the forecast period, i.e., drivers, challenges, opportunities, and future trends. The report also provides an extensive Porter's Five Forces analysis highlighting factors affecting the green solvents market in these regions.

Key Players

The reports cover vital organic and inorganic growth strategy developments in the green solvents market. Various companies concentrate on organic growth strategies such as product launches, approvals, patents, and others. Inorganic growth strategies activities observed in the market were acquisitions, partnerships & collaborations. These activities have paved the way for the development of the business and customer base of market players. The market players in the green solvents market are expected to have lucrative growth opportunities with the rising demand for sustainable products in the global market.

The report includes key companies' profiles, SWOT analysis, and green solvents market strategies. The report also focuses on leading market players with information including components and services offered, company profiles, financial information for the last three years, and critical development in the past five years.

Below is a list of companies engaged in the green solvents market.

• Cargill inc
• LyondellBasell
• Dow
• Corbion
• Florachem
• Astrobio
• Vertec Biosolvents Inc
• GFBiochemicals Ltd.
• Braskem
• SoySolv Biosolvents, LLC

REGIONAL FRAMEWORK

Green Solvents Market Report Analysis

MARKET PLAYERS

Green Solvents Market Report Scope