Bio-solvents Market Strategic Insights and Updates by 2031
The Bio-solvents Market is expected to register a CAGR of 6% from 2023 to 2031, with a market size expanding from US$ XX million in 2023 to US$ XX Million by 2031.
The report presents analysis based on product (ester, soy methyl este, alcohol, glycols, and others). The report is segmented by application (paints and coatings, adhesives and sealants, printing inks, and others). The global analysis is further broken-down at regional level and major countries. The market size and forecast at global, regional, and country levels for all the key market segments are covered under the scope. The report offers the value in USD for the above analysis and segments. The report provides key statistics on the market status of the key market players and offers market trends and opportunities.
Purpose of the ReportThe report Bio-solvents Market by The Insight Partners aims to describe the present landscape and future growth, top driving factors, challenges, and opportunities. This will provide insights to various business stakeholders, such as:
- Technology Providers/Manufacturers: To understand the evolving market dynamics and know the potential growth opportunities, enabling them to make informed strategic decisions.
- Investors: To conduct a comprehensive trend analysis regarding the market growth rate, market financial projections, and opportunities that exist across the value chain.
- Regulatory bodies: To regulate policies and police activities in the market with the aim of minimizing abuse, preserving investor trust and confidence, and upholding the integrity and stability of the market.
Bio-solvents Market Segmentation
Product- Ester
- Soy Methyl Este
- Alcohol
- Glycols
- Others
- Paints and Coatings
- Adhesives and sealants
- Printing Inks
- Others
Strategic Insights
Bio-solvents Market Growth Drivers- The Role of Bio-Solvents in Transforming the Paints and Coatings Industry: One of the primary factors propelling the growth of the paints and coatings industry is the rising use of bio-solvents in manufacturing. The conventional solvents, a lot of the time, include VOCs, which are harmful to users as well as the environment. On the other hand, the bio-solvents produced from natural sources easily comply with the very harsh solvent regulations that are available without compromising on the power of the solvents.
- Shifting Trends in the Adhesives Industry: The adhesives sector is also changing, where the need for environmentally friendly solutions is becoming more pronounced. In addition, bio-solvents are being used more often in adhesive formulations, allowing for the development of less toxic products that are more environmentally responsible by the manufacturers. This change occurs not only because consumers are seeking out greener alternatives but also to help businesses promote their sustainability goals and uphold laws.
- The Rise of Bio-Solvents in the Pharmaceutical Industry: The growth of the bio-solvent market can also be attributed to the pharmaceutical industry. The use of such bio-solvents in drug formulations has applications as a solution, carrier, or excipient and presents very low levels of contamination. The growing concern for environmental sustainability in the manufacture of medicines is facilitating the growth of bio-solvents, improving business prospects.
- The Growing Role of Bio-Solvents in Sustainable 3D Printing Practices: In addition, the adoption of bio-solvents in emerging industries such as 3D printing augurs well for future trends in the bio-solvents market. With the advancement of 3D printing technology, the need for sustainable materials is rising. Bio-solvents are used for cleaning and dissolving substances; therefore, they help in the transformation of the industry, which is going green.
- Bio-Solvents in Electronics Manufacturing and Cleaning: The bio-solvents market also finds opportunities from the increasing application of bio-solvents in cleaning and manufacturing of electronic devices. Conventional solvents are highly pollutant and detrimental to human health. Thus, the use of bio-solvents is a viable alternative. Their efficacy in operations while reducing the level of toxicity aids manufacturers in meeting environmental-friendly policies which encourages market expansion.
- Versatility of Bio-Solvents in 3D Printing and Electronics: Moreover, the integrated structure of bio-solvents allows for its use in a range of 3D printing and electronics formulations. Bio-solvents can be used From inks to coatings and still meet environmental constraints without losing product efficiency. Such wide application of bio-solvents makes it core in any creative production process.
- Advancements in Bio-Solvent Manufacturing: The enhancement of existing bio-solvent manufacturing methods is resulting in faster and better scalable production of bio solvents. New extraction and fermentation techniques are allowing manufacturers to reduce expenses connected with the production of bio-solvents. These improvements not only cut down on production costs but also enhance the quality and efficacy of the final products, fostering further use in a number of fields.
- Expanding Raw Material Sources for Bio-Solvents: Further opportunities for expansion are presented by the new demand for bio-solvents made from different biologically-sourced feedstocks. The use of materials such as agricultural waste and non-food plants ensures diversified raw material sourcing. These feedstocks ensure less consumption of crude oil-based sources, which is a global agenda and favors using bio solvents.
- Bio-Solvents and the Circular Economy: The same approach guides the transition to the circular economy. By using renewable resources and reducing waste, bio-solvent manufacturers can adopt a claim and an image of environmental friendliness. Such an idea is embraced by consumers and businesses, creating a pool of desire for products with these attributes.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Bio-solvents Market, providing a holistic landscape.
- Expert Analysis: The report is compiled based on the in-depth understanding of industry experts and analysts.
- Up-to-date Information: The report assures business relevance due to its coverage of recent information and data trends.
- Customization Options: This report can be customized to cater to specific client requirements and suit the business strategies aptly.
The research report on the Bio-solvents Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.
REGIONAL FRAMEWORK
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Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
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to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
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to country scope.
Frequently Asked Questions
The Bio-solvents Market is estimated to witness a CAGR of 6% from 2023 to 2031
The increasing use of bio-solvents in paints and coatings is driving the market growth.
BASF SE; Dow Chemical Company; Huntsman Corp; E.I. du Pont de Nemours and Co; Cargill Inc; LyondellBasell; BioAmber; Myriant Corp; Vertec Biosolvents; and Stepan Company are some of the key players operating in the bio-solvents market
Based on product, the ester segment is expected to witness the fastest growth during the forecast period
Based on geography, North America held the largest share of the bio-solvents market due to stringent environmental regulations and a strong emphasis on sustainability.
The adoption of bio-solvents in emerging industries like 3D printing is expected to be the key market trends.
1.INTRODUCTION
1.1.SCOPE OF THE STUDY
1.2.THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3.MARKET SEGMENTATION
1.3.1Bio-solvents Market - By Product
1.3.2Bio-solvents Market - By Application
1.3.3Bio-solvents Market - By Region
1.3.3.1By Country
2.KEY TAKEAWAYS
3.RESEARCH METHODOLOGY
4.BIO-SOLVENTS MARKET LANDSCAPE
4.1.OVERVIEW
4.2.PEST ANALYSIS
4.2.1North America - Pest Analysis
4.2.2Europe - Pest Analysis
4.2.3Asia-Pacific - Pest Analysis
4.2.4Middle East and Africa - Pest Analysis
4.2.5South and Central America - Pest Analysis
4.3.EXPERT OPINIONS
5.BIO-SOLVENTS MARKET - KEY MARKET DYNAMICS
5.1.KEY MARKET DRIVERS
5.2.KEY MARKET RESTRAINTS
5.3.KEY MARKET OPPORTUNITIES
5.4.FUTURE TRENDS
5.5.IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS
6.BIO-SOLVENTS MARKET - GLOBAL MARKET ANALYSIS
6.1.BIO-SOLVENTS - GLOBAL MARKET OVERVIEW
6.2.BIO-SOLVENTS - GLOBAL MARKET AND FORECAST TO 2028
6.3.MARKET POSITIONING/MARKET SHARE
7.BIO-SOLVENTS MARKET - REVENUE AND FORECASTS TO 2028 " PRODUCT
7.1.OVERVIEW
7.2.PRODUCT MARKET FORECASTS AND ANALYSIS
7.3.LACTATE ESTER
7.3.1.Overview
7.3.2.Lactate Ester Market Forecast and Analysis
7.4.SOY METHYL ESTER ALCOHOL
7.4.1.Overview
7.4.2.Soy Methyl Ester Alcohol Market Forecast and Analysis
7.5.GLYCOLS
7.5.1.Overview
7.5.2.Glycols Market Forecast and Analysis
7.6.OTHERS
7.6.1.Overview
7.6.2.Others Market Forecast and Analysis
8.BIO-SOLVENTS MARKET - REVENUE AND FORECASTS TO 2028 " APPLICATION
8.1.OVERVIEW
8.2.APPLICATION MARKET FORECASTS AND ANALYSIS
8.3.PAINTS AND COATINGS
8.3.1.Overview
8.3.2.Paints and Coatings Market Forecast and Analysis
8.4.ADHESIVES AND SEALANTS
8.4.1.Overview
8.4.2.Adhesives and Sealants Market Forecast and Analysis
8.5.PRINTING INKS
8.5.1.Overview
8.5.2.Printing Inks Market Forecast and Analysis
8.6.OTHERS
8.6.1.Overview
8.6.2.Others Market Forecast and Analysis
9.BIO-SOLVENTS MARKET REVENUE AND FORECASTS TO 2028 " GEOGRAPHICAL ANALYSIS
9.1.NORTH AMERICA
9.1.1North America Bio-solvents Market Overview
9.1.2North America Bio-solvents Market Forecasts and Analysis
9.1.3North America Bio-solvents Market Forecasts and Analysis - By Product
9.1.4North America Bio-solvents Market Forecasts and Analysis - By Application
9.1.5North America Bio-solvents Market Forecasts and Analysis - By Countries
9.1.5.1United States Bio-solvents Market
9.1.5.1.1United States Bio-solvents Market by Product
9.1.5.1.2United States Bio-solvents Market by Application
9.1.5.2Canada Bio-solvents Market
9.1.5.2.1Canada Bio-solvents Market by Product
9.1.5.2.2Canada Bio-solvents Market by Application
9.1.5.3Mexico Bio-solvents Market
9.1.5.3.1Mexico Bio-solvents Market by Product
9.1.5.3.2Mexico Bio-solvents Market by Application
9.2.EUROPE
9.2.1Europe Bio-solvents Market Overview
9.2.2Europe Bio-solvents Market Forecasts and Analysis
9.2.3Europe Bio-solvents Market Forecasts and Analysis - By Product
9.2.4Europe Bio-solvents Market Forecasts and Analysis - By Application
9.2.5Europe Bio-solvents Market Forecasts and Analysis - By Countries
9.2.5.1Germany Bio-solvents Market
9.2.5.1.1Germany Bio-solvents Market by Product
9.2.5.1.2Germany Bio-solvents Market by Application
9.2.5.2France Bio-solvents Market
9.2.5.2.1France Bio-solvents Market by Product
9.2.5.2.2France Bio-solvents Market by Application
9.2.5.3Italy Bio-solvents Market
9.2.5.3.1Italy Bio-solvents Market by Product
9.2.5.3.2Italy Bio-solvents Market by Application
9.2.5.4Spain Bio-solvents Market
9.2.5.4.1Spain Bio-solvents Market by Product
9.2.5.4.2Spain Bio-solvents Market by Application
9.2.5.5Russia Bio-solvents Market
9.2.5.5.1Russia Bio-solvents Market by Product
9.2.5.5.2Russia Bio-solvents Market by Application
9.2.5.6Rest of Europe Bio-solvents Market
9.2.5.6.1Rest of Europe Bio-solvents Market by Product
9.2.5.6.2Rest of Europe Bio-solvents Market by Application
9.3.ASIA-PACIFIC
9.3.1Asia-Pacific Bio-solvents Market Overview
9.3.2Asia-Pacific Bio-solvents Market Forecasts and Analysis
9.3.3Asia-Pacific Bio-solvents Market Forecasts and Analysis - By Product
9.3.4Asia-Pacific Bio-solvents Market Forecasts and Analysis - By Application
9.3.5Asia-Pacific Bio-solvents Market Forecasts and Analysis - By Countries
9.3.5.1Australia Bio-solvents Market
9.3.5.1.1Australia Bio-solvents Market by Product
9.3.5.1.2Australia Bio-solvents Market by Application
9.3.5.2China Bio-solvents Market
9.3.5.2.1China Bio-solvents Market by Product
9.3.5.2.2China Bio-solvents Market by Application
9.3.5.3India Bio-solvents Market
9.3.5.3.1India Bio-solvents Market by Product
9.3.5.3.2India Bio-solvents Market by Application
9.3.5.4Japan Bio-solvents Market
9.3.5.4.1Japan Bio-solvents Market by Product
9.3.5.4.2Japan Bio-solvents Market by Application
9.3.5.5South Korea Bio-solvents Market
9.3.5.5.1South Korea Bio-solvents Market by Product
9.3.5.5.2South Korea Bio-solvents Market by Application
9.3.5.6Rest of Asia-Pacific Bio-solvents Market
9.3.5.6.1Rest of Asia-Pacific Bio-solvents Market by Product
9.3.5.6.2Rest of Asia-Pacific Bio-solvents Market by Application
9.4.MIDDLE EAST AND AFRICA
9.4.1Middle East and Africa Bio-solvents Market Overview
9.4.2Middle East and Africa Bio-solvents Market Forecasts and Analysis
9.4.3Middle East and Africa Bio-solvents Market Forecasts and Analysis - By Product
9.4.4Middle East and Africa Bio-solvents Market Forecasts and Analysis - By Application
9.4.5Middle East and Africa Bio-solvents Market Forecasts and Analysis - By Countries
9.4.5.1South Africa Bio-solvents Market
9.4.5.1.1South Africa Bio-solvents Market by Product
9.4.5.1.2South Africa Bio-solvents Market by Application
9.4.5.2Saudi Arabia Bio-solvents Market
9.4.5.2.1Saudi Arabia Bio-solvents Market by Product
9.4.5.2.2Saudi Arabia Bio-solvents Market by Application
9.4.5.3U.A.E Bio-solvents Market
9.4.5.3.1U.A.E Bio-solvents Market by Product
9.4.5.3.2U.A.E Bio-solvents Market by Application
9.4.5.4Rest of Middle East and Africa Bio-solvents Market
9.4.5.4.1Rest of Middle East and Africa Bio-solvents Market by Product
9.4.5.4.2Rest of Middle East and Africa Bio-solvents Market by Application
9.5.SOUTH AND CENTRAL AMERICA
9.5.1South and Central America Bio-solvents Market Overview
9.5.2South and Central America Bio-solvents Market Forecasts and Analysis
9.5.3South and Central America Bio-solvents Market Forecasts and Analysis - By Product
9.5.4South and Central America Bio-solvents Market Forecasts and Analysis - By Application
9.5.5South and Central America Bio-solvents Market Forecasts and Analysis - By Countries
9.5.5.1Brazil Bio-solvents Market
9.5.5.1.1Brazil Bio-solvents Market by Product
9.5.5.1.2Brazil Bio-solvents Market by Application
9.5.5.2Argentina Bio-solvents Market
9.5.5.2.1Argentina Bio-solvents Market by Product
9.5.5.2.2Argentina Bio-solvents Market by Application
10.INDUSTRY LANDSCAPE
10.1.MERGERS AND ACQUISITIONS
10.2.AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
10.3.NEW PRODUCT LAUNCHES
10.4.EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
11.BIO-SOLVENTS MARKET, KEY COMPANY PROFILES
11.1.ARCHER DANIELS MIDLAND COMPANY
11.1.1.Key Facts
11.1.2.Business Description
11.1.3.Products and Services
11.1.4.Financial Overview
11.1.5.SWOT Analysis
11.1.6.Key Developments
11.2.BASF SE
11.2.1.Key Facts
11.2.2.Business Description
11.2.3.Products and Services
11.2.4.Financial Overview
11.2.5.SWOT Analysis
11.2.6.Key Developments
11.3.BIOAMBER INC.
11.3.1.Key Facts
11.3.2.Business Description
11.3.3.Products and Services
11.3.4.Financial Overview
11.3.5.SWOT Analysis
11.3.6.Key Developments
11.4.CARGILL, INCORPORATED.
11.4.1.Key Facts
11.4.2.Business Description
11.4.3.Products and Services
11.4.4.Financial Overview
11.4.5.SWOT Analysis
11.4.6.Key Developments
11.5.CORBION
11.5.1.Key Facts
11.5.2.Business Description
11.5.3.Products and Services
11.5.4.Financial Overview
11.5.5.SWOT Analysis
11.5.6.Key Developments
11.6.DOW CHEMICAL COMPANY
11.6.1.Key Facts
11.6.2.Business Description
11.6.3.Products and Services
11.6.4.Financial Overview
11.6.5.SWOT Analysis
11.6.6.Key Developments
11.7.FLORIDA CHEMICALS
11.7.1.Key Facts
11.7.2.Business Description
11.7.3.Products and Services
11.7.4.Financial Overview
11.7.5.SWOT Analysis
11.7.6.Key Developments
11.8.HUNTSMAN INTERNATIONAL LLC.
11.8.1.Key Facts
11.8.2.Business Description
11.8.3.Products and Services
11.8.4.Financial Overview
11.8.5.SWOT Analysis
11.8.6.Key Developments
11.9.SHENZHEN ESUNS INDUSTRIAL CO., LTD
11.9.1.Key Facts
11.9.2.Business Description
11.9.3.Products and Services
11.9.4.Financial Overview
11.9.5.SWOT Analysis
11.9.6.Key Developments
11.10.STEPAN COMPANY
11.10.1.Key Facts
11.10.2.Business Description
11.10.3.Products and Services
11.10.4.Financial Overview
11.10.5.SWOT Analysis
11.10.6.Key Developments
12.APPENDIX
12.1.ABOUT THE INSIGHT PARTNERS
12.2.GLOSSARY OF TERMS
1. Archer Daniels Midland Company
2. BASF SE
3. BioAmber Inc.
4. Cargill, Incorporated.
5. Corbion
6. Dow Chemical Company
7. Florida Chemicals
8. Huntsman International LLC.
9. Shenzhen Esuns Industrial Co., Ltd
10. Stepan Company
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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