The global green and bio-based solvents market is expected to grow with advancements in organic manufacturing. The past decade has witnessed an uptick in the use of green and organic products. Several industries have shifted from the use of toxic chemicals and solvents to embrace biologically synthesised substances. Moreover, the performance of organic substances and materials is much better than any of their chemical counterparts. Leading industries have several reasons to believe that green and bio-based solvents are the most viable ingredient in manufacturing. In addition to this, the importance of these solvents in chemical analysis and research has also created ripples across the global green and bio-based solvents market.
The total volume of revenues within the global green and bio-based solvents market is set to increase by a noticeable chase. As this trend magnifies, vendors in the market are projected to focus on banking on their research skills and analytic abilities. The ability to offer new and improved products can fetch formidable revenues to the market players. Use of green and bio-based solvents spans into a multitude of industries, and this is an important dynamic of market growth. The vendors in this market can capitalise on multiple industries, creating fresh avenues for market growth and maturity. There is unprecedented need for organic solvents in leading industries, and this factor shall help manufacturers in making a strong footfall in the market.
Transparency Market Research (TMR), in this report preview, looks into several factors that have aided the growth of the global green and bio-based solvents market. The need for bio-based ethanol in several industries such as cosmetics and personal care products has given a thrust to market growth. Worldwide outrage against the use of chemical substances in leading industries has led industrial leaders to explore the potential of organic alternatives. Therefore, the global green and bio-based solvents market is under the radar of scrutiny from several global leaders.
Domestic Use of Organic Products to Gain Prominence
The industrial, commercial, and residential sectors are at the brink of advancement, and this is an important consideration for market growth and maturity. On the basis of application, the global green and bio-based solvents market can be segmented into paints and coatings, commercial and domestic cleaning, printing inks, pharmaceuticals, adhesives and sealants, and cosmetics. The pharmaceutical industry has emerged as a prominent consumer of bio-based solvents, and this is an important dynamic of market growth. Furthermore, the use of green solvents in the cosmetics industry has also given a thrust to market growth. Several cosmetic manufacturers have endorsed green manufacturing standards to make a statement about their corporate social responsibility. The sellers of green and bio-based solvents are set to attract fresh revenues in the times to follow.
North America to Witness Paced Growth in Recent Times
On the basis of geography, the global green and bio-based solvents market can be segmented into North America, Europe, South America, Middle East, and Asia Pacific. The growth of the pharmaceutical industry in the US and Canada has created ripples across the North America green and bio-based solvents market. Furthermore, use of adhesives, sealants, and cleaning agents made from biological products has also increase in the region. Europe is also a key regional segment that has contributed to the growth of the global green and bio-based solvents market. Advancements in printing technologies in the region has aided market maturity in recent times.
Some of the leading players operating in the global green and bio-based solvents market are BioAmber Inc., Galactic, Elevance Renewable Sciences, Inc., BioMCN, Corbion nv, Florida Chemical Company, Vertec Biosolvents Inc., and Archer Daniels Midland Company.
Strides in Green & Bio-based Solvents Market to Reduce Reliance on Non-renewable Sources
Oil-based solvents have come to be heavily criticized for their impact on environment. Over the last decade and especially around the mid of this decade, there has been vigorous debates on adopting chemistries that can dramatically reduce reliance on non-renewable raw materials. Conventional solvents have come under the scanner for their release of volatile organic compounds (VOC). Industries that utilize solvents profusely have fervently climbed on the bandwagon on green chemistries. The popularity of green and bio-based solvents has stemmed from this trend. These bio-based solvents are made commonly use beet, corn, and sugar as raw materials. The value chain of the green and bio-based solvents is being continuously enriched, with the advances in discovery, manufacturing, processing of biochemicals to meet the properties of solvents. Chemical companies are relentlessly aiming at improving the stability, biodegradability, and cost effective. Their efforts have borne fruit as is evident from growing array of products in the green and bio-based solvents market. Rising adoption of greener substitutes is a key driver for the growth prospects and revenue generation for players in the ecosystem. The landscape is bolstered by extensive research and development projects.
The outbreaks of Covid-19 pandemic in 2020 in several regions around the world and the underlying waves have wreaked nothing less than a havoc on economy and flow of money in firms. The humanitarian crisis has also severely hit the job market from unskilled workers and skilled crisis. The morbidity and mortality still continues across some of the major economies of the world, triggering worldwide attention to combat the crisis head-on. Civil societies, citizen’s group on the back of support by governments are looking to meet the needs of the affected population with alacrity. These efforts have no doubt shown results, especially in containing community-wide spread. On the other hand, various industry players have joined hands to address the mental and physical wellbeing of their employees affected by the pandemic in all possible ways. All these will impact the contours of the green and bio-based solvents market.
Chapter 1 Preface
Chapter 2 Executive Summary
Chapter 3 Green & Bio-based Solvents Market– Industry Analysis
Chapter 4 Porter’s Five Forces Analysis
Chapter 5 Raw Material and Price Trend Analysis
Chapter 6 Green & Bio-based Solvents Market – Product Analysis
Chapter 7 Green & Bio-based Solvents Market – Application Analysis
Chapter 8 Green & Bio-based Solvents Market - Regional Analysis
Chapter 9 Company Profiles
Chapter 10 List of Consumers of Green & Bio-based Solvents
Chapter 11 Primary Research – Key Findings