Green and Bio Solvents Market is expected to reach USD 1.6 billion by 2030 at a CAGR of 5.6% during the forecast period 2023-2030, Data By Contrive Datum Insights

According to a market study published by Contrive Datum Insights, Asia Pacific is expected to grow at the highest CAGR of 6.5% during the forecast period

Farmington, March 18, 2023 (GLOBE NEWSWIRE) — The global Green and biosolvent market Will grow from USD 1.2 billion in 2022 to USD 1.6 billion in 2030, at a CAGR of 5.6% during the forecast period 2022-2030. Green solvents come from things like corn, sugarcane, lactic acid, refined glycerin, biosuccinic acid, soybean oil, etc. that are grown on farms. Solvents such as acetone, ethanol, methanol, 2-propanol, ethyl acetate, isopropyl acetate, methyl ethyl ketone, 1-butanol, tert-butanol, etc. are among the least dangerous. They are used as building blocks to make other goods, such as cleaning agents, cosmetics, paints and coatings, inks, adhesives and sealants, and medicines.

Request sample copy of report “Green and Biological Solvents Market – Global Industry Analysis, Size, Share, Growth Opportunities, Future Trends, Covid-19 Impact, SWOT Analysis, Competition and Forecasts 2022 to 2030”, published by Contrive Datum Insights.

Green and biosolvent market Recent developments:

• In November 2019Archer Daniels Midland Company acquired Florida Chemical Company (FCC), a division of Flotek Industries (NYSE: FTK). The company produces D-limonene, a biodegradable solvent, and a degreaser derived from orange peel.

• In September 2019Corbion renewed its contract with Brenntag, a distributor of chemicals and ingredients in Europe and the Middle East.

• In May 2019DuPont Tate & Lyle Bio Products, Corbion, INOLEX and ACT Solutions collaborated to produce a range of personal care products with 100% bio-based ingredients.

• In February 2020, the company announced a joint venture with Towell Engineering Group (Oman) to produce levulinic acid-derived biochemical products. The partnership, called Nxtlevvel, is expected to produce 30,000 tonnes of biodegradable solvents and softeners per year for the cleaning, personal care, coatings and agricultural markets.

The story continues

Green and Biological Solvents Market Dynamics:

Driver:

Green and bio-solvents are in greater demand than traditional solvents. This is because there are more regulations on the environment, especially in Europe and North America, and more green and bio-solvents with better qualities and lower prices are made available by both new and old production plants. Green and bio-solvents are used to clean and protect plants, make irrigations and make biofluxes. Green and bio-solvents are used in more places because new products are constantly being made. This is the main thing that drives the market.

Restraint:

Raw materials must be easy to get hold of and always come in, so that the production of green and biosolvent can proceed smoothly. For production to run smoothly, the quality of the raw materials must be the same. Green and biosolvents are often profitable because they can be made from cheap, recyclable raw materials. If commodity prices rose or went through strong cycles in the future, production would no longer be profitable. Price hedging instruments and other similar tools are less likely to be used by SMEs to enter into long-term fixed price contracts than they are by larger companies.

Apartment:

Personal care products use common solvents such as diethanolamine, triethanolamine and polyethylene glycol. Solvents can disrupt your hormones, irritate your eyes, skin and respiratory system, give you a sore throat and make asthma and allergic contact dermatitis worse. Carbon tetrachloride and 1,2-dichloroethane are two other popular solvents used in toxic and carcinogenic pharmaceutical applications. Because of these things, research and development in green and biosolvents can be done in several ways.

Regional Outlook:

During the forecast period, the Asia Pacific Green/Bio-based Solvents market size is expected to grow at the highest CAGR of 6.5%, accounting for 21% of the Green/Bio-based Solvents market share in 2020. This is due to more demand for Asia Pacific markets such as paints and coatings, ink production, industrial, cosmetics, pharmaceuticals, etc. China’s paints and coatings market is growing rapidly, pushing market makers to produce high-quality green and bio-based solvents for mixing paint ingredients. Also, manufacturers around the world see the Asia-Pacific region as a good market because it has low costs for workers, setting up factories and selling goods. These things drive the market for green/bio-based chemicals in the area.

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Scope of the report:

Green and Biological Solvents Market Key Segments Covered:

Top market players:
Archer Daniels Midland Company, BASF SE, BioAmber Inc, Huntsman Corporation, EI Du Pont de Nemours & Co, The Dow Chemical Company, Vertec Biosolvents Inc., Florida Chemical Company, Cargill Incorporated, Galactic, Gevo, Pinova Holdings INC, Myriant, LyondellBasell , Solvay, Akzo Nobel. and other.

Green and Biological Solvents Market by Types:

• Bio-alcohols

• Bio-glycols and diols

• Lactate testers

• D-Limonene

• Methyl soyate

Green and Bio Solvents Market by Applications:

Regions and countries covered

• North America: (USA, Canada, Mexico, Rest of North America)

• Europe: (Germany, France, Italy, Spain, UK, Nordic countries, Benelux Union, Rest of Europe)

• Asia Pacific: (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia Pacific)

• Middle East and Africa: (Saudi Arabia, UAE, Egypt, South Africa, Rest of Middle East and Africa)

• Latin America: (Brazil, Argentina, Rest of Latin America)

• The rest of the world

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