Green & Bio-solvents Market worth $1.6 Billion by 2027 - Exclusive Report by MarketsandMarkets™
CHICAGO , May 30, 2022 /PRNewswire/ -- According to the report "Green & Bio-solvents Market by Type (Bioalcohols, Bio-Diols, Biogycols, Lactate Esters), Application (Industrial & Domestic Cleaners, Paints & Coatings, Adhesives, Printing Inks, Pharmaceuticals) and Region- Global Forecast to 2027", published by MarketsandMarkets™, the market will grow to USD 1.6 Billion by 2027, at a CAGR of 5.6% from USD 1.2 Billion in 2022.
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=755
Browse 340 market data Tables and 46 Figures spread through 253 Pages and in-depth TOC on "Green & Bio-solvents Market"
View Detailed Table of Content Here: https://www.marketsandmarkets.com/Market-Reports/green-bio-solvents-market-755.html
This growth is primarily triggered by the uncertainty about developments in oil prices. Solvent producers have concerns regarding the developments in oil prices in the future. For some green & bio-solvents, cost reductions have been achieved by using cheaper feedstocks, scaling up the production, or both. The two factors that are expected to have the greatest impact on the future growth trajectory of green & bio-solvents are oil prices and levels of government support. The impact of both factors is heavily dependent on energy prices and the cost of biomass feedstock inputs.
Bioalcohol is the largest green & bio-solvents type of green & bio-solvents market.
Bioalcohols led the green & bio-solvents market, in terms of both value and volume, in 2021. This is due to the increasing use of bioethanol, biomethanol, biobutanol, and biopropanol in various applications, such as cosmetics, pharmaceuticals, and industrial & domestic cleaners.
The market for all green & bio-solvents declined in 2020, except bioalcohols, in terms of both volume and value. This was due to COVID-19 and the low usage of green & bio-solvents in applications, such as paints & coatings, and cosmetics. The demand for bioalcohols, such as bioethanol and biopropanol, increased significantly due to their usage in industrial & domestic cleansers, hand sanitizers, and surface sanitizers, among other bio-solvents, which led to their growth in 2020, in terms of both volume and value.
Industrial & domestic Cleaners is projected to be the fastest growing application of the green & bio-solvents market in terms of value during the forecast period.
Bio-solvents are used in the cleaning of high-precision mechanical parts, for instance, such as ball bearings. For this application, perfect cleaning is necessary for the proper functioning of the mechanical piece (remaining dirt would damage the metal) and is critical to the safety of machines in the working process. The stringent regulatory environment existing in regions like Europe and North America to replace petrochemical-based solvents plays an important in the growth of the green & bio-solvents market. The increasing demand for green & bio-solvents from the industrial & domestic cleaners segment is driven by environmental & regulatory pressure to use greener solvents for cleaning applications
Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=755
Asia Pacific is estimated to be the fastest growing market for green & bio-solvents during the forecast period.
Asia Pacific is projected to be the fastest-growing market, in terms of value, during the forecast period. Asia Pacific has extensive biomass resources, feedstock, and access to markets. The ASEAN region is becoming an attractive hub for production as the global green & bio-solvents industry is slowly scaling to a commercial level, driven by corporate partnerships, private investments, government support & incentives, and innovative technologies. Asia Pacific has become a key region for the green & bio-solvents market and their precursors. This is due to various developments undertaken by companies such as Purac, PTT (Thailand), India Glycols Ltd. (India), Greencol Taiwan (Taiwan), Henan Jindan (China), Ecomann (Shenzen), and Kaneka, Teijin Ltd., (Japan).
The key market players profiled in the report include Archer Daniels Midland Company (US), BASF SE (Germany), Cremer Oleo (Germany), Solvay (Belgium), Stepan Company (US), Dow Inc. (US), and GF Biochemicals (Netherlands), among others.
Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=755
Related Reports:
Solvents Market by Type (Alcohols, Ketones, Esters, Glycol Ethers, Aromatic, Aliphatic), Application (Paints & Coatings, Polymer Manufacturing, Printing Inks), and Region- Global Forecast to 2025
https://www.marketsandmarkets.com/Market-Reports/solvent-market-1325.html
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: [email protected]
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/green-bio-solvents-market.asp
Visit Our Website: https://www.marketsandmarkets.com/
Content Source: https://www.marketsandmarkets.com/PressReleases/green-bio-solvents.asp
SOURCE MarketsandMarkets
WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?
Newsrooms &
Influencers
Digital Media
Outlets
Journalists
Opted In
Share this article