Global Bio-Solvents Market was valued at USD 6.46 Bn in 2017, is expected to reach USD 9.43 billion in 2022 and is anticipated to grow at a CAGR of 7.31% during 2017 and 2026.
Increased environmental awareness, eco-friendly nature, low volatile organic compound emission drives the bio solvent market. Shifting consumer preference towards bio-based and greener products is accelerating the market growth. Rising concerns about the environment have forced paints and coatings manufacturers to shift toward solvents that contain low VOC content. However, high cost of production restrains the market.
The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.
Lactate ester arose as the leading product segment and accounting major share due to usage of lactate esters owing to its comparatively lower price, broad application area, and easy availability in contrast to other bio-solvents. Methyl Soyate is foreseen to rule the global bio-solvents market in the coming years. Methyl Soyate is likely to notify income development of above 10% in the foreseeable period.
Paints and coatings application segment will lead the global bio solvents market throughout the forecast period. Increasing environmental concerns coupled with rising consumer awareness towards eco-friendly products fuels the adoption of bio solvent in paints and coating industry. Industrial & domestic cleaning industry will grow at highest during the forecast period owing to increasing concern of health and hygiene among household consumers and institutional workers.
Asia Pacific is poised to register robust growth, offering significant investment and growth opportunities for manufacturers in the future years. Bio-solvent market in the Asia Pacific is mainly driven by the continuously growing demand from India and China. These emerging markets sustain huge growth potential given the government policies that promote the adoption of bio-solvents over conventional solvents. Bio-solvents market in Latin America is expected to flourish on account of favorable government initiatives. The Middle East and Africa signify a region with a huge potential for bio-solvents in future. Improving economic activity expected to boost the bio-solvents market in the Middle East and Africa.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding bio solvent market dynamics, structure by identifying and analyzing the market segments and project the market size. Further, the report also focuses on a competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER's analysis, SWOT analysis to address questions of shareholders to prioritizing the efforts and investment in the near future to the emerging segment in bio solvent market.
The scope of the Global Bio-Solvents Market
Global Bio-Solvents Market, by Product:
• Alcohols
• Glycols
• Diols
• Lactate Esters
• D-Limonene
• Methyl Soyate
• Others
Global Bio-Solvents Market, by Application:
• Industrial & Domestic Cleaners
• Paints & Coatings
• Adhesives
• Printing Inks
• Others
Global Bio solvent Market, by Region:
• North America
• Asia Pacific
• Europe
• Middle East & Africa
• South America
Key Player analyzed in the Report:
• 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
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