Global Bio Solvents Market by Application (Adhesives & Sealants, Paints & Coatings, Printing Inks), by Product (Lactate Ester, Soy Methyl Ester, Alcohol, Glycols) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028
Industry Insights
Global bio solvents demand was 2,505.5 Kilotons in 2013. It is expected to grow at 5.2% CAGR from 2014 to 2020. The global market will continue to be driven by fluctuating petrochemical prices and growing health concerns from VOCs in conventional solvents. REACH, EPA and DEFRA have imposed strict regulations regarding the toxicity conventional solvents. This has led to a shift towards biosolvents. This trend is expected have a positive effect on global market growth.
Paints and coatings use solvents to dissolve various compounds. This makes it more suitable for the intended application. Solvent-based paints dry quicker than other types, while maintaining a higher production rate. The use of bio-solvents has been increasing due to increased health concerns and stringent government regulations about VOC emission. Bio solvents are becoming more popular due to their easy-to-use and eco-friendly nature.
Global market growth will be further driven by the increased penetration of bio solvents in paints, coatings and printing inks. Paints & coatings demand will be driven by the growth of the construction and automotive industries in emerging countries of Asia Pacific, Latin America and Latin America due to urbanization and industrialization. The market's growth is expected to be further boosted by a growing paints & coats market. The demand for bio solvents will continue to grow as people become more aware of the dangers of traditional solvents in personal and pharmaceutical products.
Market participants will be able to benefit from the widespread R&D that is being done to expand bio solvents' application in cosmetics and pharmaceutical applications. Market entrants have been hindered by high production costs for bio solvents. These challenges will be overcome by technological advances and product innovation over the forecast period.
Product Insights
The report segments bio solvent products into lactate esters, soy methyl esters, alcohol, and glycols among others such as d-limonene, diols, and polyhydroxyalkanoates. The market volume for lactate ester was 30.04% in 2013. The market is expected to grow due to the increasing demand for lactate ester solvents in coatings, printing and industrial applications.
Glycol solvents will experience the greatest growth due to its increased penetration in paints, automotive coatings and printing inks. Glycol solvents are preferred because of their slow evaporation and high resistance to blushing.
Application Insights
The market for bio solvents can be divided into three categories based on their application: paints & coatings adhesives & sealants and printing inks. There are also niche applications like pharmaceuticals and cosmetics. Paints & coatings demand will rise due to rising construction spending in emerging markets like Brazil, China and India. Bio solvents demand will be driven by a shift in the trends to use eco-friendly paints and a growing construction industry.
Paints and coatings was the most popular application segment, with 1,106.5 kilo tonnes of demand in 2013. The major driver of bio solvents demand has been the growing demand for paints and coatings in the construction and automotive industries. The fastest-growing segment of bio solvent applications is expected to be adhesives & sealants, growing at a CAGR of 5.3% between 2014 and 2020.
Regional Insights
North America was the largest bio solvent consumer, accounting for 34.97% in total market volume. This market is characterised by high awareness about the environmental and health effects of conventional solvents, as well as strict environmental regulations. The U.S. government is increasing spending on public infrastructure to increase paint & coatings consumption, which is expected to boost North American biosolvents market demand over the forecast period.
Due to the growing construction and automobile industries, Asia Pacific is expected to experience significant growth. The rapid industrialization of emerging markets like India and China is expected to increase adhesives and sealants demand. The Asia Pacific market is expected to grow due to this trend and growing concern about the degradation of conventional solvents.
Market Share in Bio Solvents
The global market is highly concentrated, with the top four companies holding more than 60% market share in 2014. The Dow Chemical Co. and AkzoNobel N.V. are major players in the global market. du Pont de Nemours & Co.; BASF SE. LyondellBasell BioAmber Huntsman Corp. Myriant Corp. Vertec Biosolvents, and Florida Chemicals.
Joint ventures and M&A are common in bio solvent product development and market positioning. The market will be more competitive due to the increasing number of small-scale producers in Europe, China and elsewhere. To improve production technology and expand application possibilities, companies are investing heavily in R&D.
Up Market Research published a new report titled “Bio Solvents Market research report which is segmented by Application (Adhesives & Sealants, Paints & Coatings, Printing Inks), by Product (Lactate Ester, Soy Methyl Ester, Alcohol, Glycols), By Players/Companies Myriant Corp, BioAmber, Huntsman Corp, AkzoNobel NV, The Dow Chemical Co, LyondellBasell, Vertec Biosolvents and Florida Chemicals, Cargill Inc, EI du Pont de Nemours & Co, BASF SE”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.
Report Scope
Report Attributes | Report Details |
Report Title | Bio Solvents Market Research Report |
By Application | Adhesives & Sealants, Paints & Coatings, Printing Inks |
By Product | Lactate Ester, Soy Methyl Ester, Alcohol, Glycols |
By Companies | Myriant Corp, BioAmber, Huntsman Corp, AkzoNobel NV, The Dow Chemical Co, LyondellBasell, Vertec Biosolvents and Florida Chemicals, Cargill Inc, EI du Pont de Nemours & Co, BASF SE |
Regions Covered | North America, Europe, APAC, Latin America, MEA |
Base Year | 2020 |
Historical Year | 2018 to 2019 (Data from 2010 can be provided as per availability) |
Forecast Year | 2028 |
Number of Pages | 218 |
Number of Tables & Figures | 153 |
Customization Available | Yes, the report can be customized as per your need. |
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
Global Bio Solvents Market Report Segments:
The market is segmented by Application (Adhesives & Sealants, Paints & Coatings, Printing Inks), by Product (Lactate Ester, Soy Methyl Ester, Alcohol, Glycols).
Bio Solvents Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.
Key Benefits for Industry Participants & Stakeholders:
- Industry drivers, restraints, and opportunities covered in the study
- Neutral perspective on the market performance
- Recent industry trends and developments
- Competitive landscape & strategies of key players
- Potential & niche segments and regions exhibiting promising growth covered
- Historical, current, and projected market size, in terms of value
- In-depth analysis of the Bio Solvents Market
Overview of the regional outlook of the Bio Solvents Market:
Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.
Highlights of The Bio Solvents Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of Bio Solvents Market.
- Historical data and forecast.
- Estimations for the forecast period 2028.
- Developments and trends in the market.
1. Adhesives & Sealants
2. Paints & Coatings
3. Printing Inks
7. By Product:1. Lactate Ester
2. Soy Methyl Ester
3. Alcohol
4. Glycols
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Bio Solvents Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
Reasons to Purchase the Bio Solvents Market Report:
- The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
- Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
- Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
- The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
- Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Bio Solvents Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Bio Solvents Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Bio Solvents Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Bio Solvents Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Bio Solvents Market Size & Forecast, 2018-2028
4.5.1 Bio Solvents Market Size and Y-o-Y Growth
4.5.2 Bio Solvents Market Absolute $ Opportunity
Chapter 5 Global Bio Solvents Market Analysis and Forecast by Application
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Application
5.1.2 Basis Point Share (BPS) Analysis by Application
5.1.3 Absolute $ Opportunity Assessment by Application
5.2 Bio Solvents Market Size Forecast by Application
5.2.1 Adhesives & Sealants
5.2.2 Paints & Coatings
5.2.3 Printing Inks
5.3 Market Attractiveness Analysis by Application
Chapter 6 Global Bio Solvents Market Analysis and Forecast by Product
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Product
6.1.2 Basis Point Share (BPS) Analysis by Product
6.1.3 Absolute $ Opportunity Assessment by Product
6.2 Bio Solvents Market Size Forecast by Product
6.2.1 Lactate Ester
6.2.2 Soy Methyl Ester
6.2.3 Alcohol
6.2.4 Glycols
6.3 Market Attractiveness Analysis by Product
Chapter 7 Global Bio Solvents Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Bio Solvents Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Bio Solvents Analysis and Forecast
9.1 Introduction
9.2 North America Bio Solvents Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Bio Solvents Market Size Forecast by Application
9.6.1 Adhesives & Sealants
9.6.2 Paints & Coatings
9.6.3 Printing Inks
9.7 Basis Point Share (BPS) Analysis by Application
9.8 Absolute $ Opportunity Assessment by Application
9.9 Market Attractiveness Analysis by Application
9.10 North America Bio Solvents Market Size Forecast by Product
9.10.1 Lactate Ester
9.10.2 Soy Methyl Ester
9.10.3 Alcohol
9.10.4 Glycols
9.11 Basis Point Share (BPS) Analysis by Product
9.12 Absolute $ Opportunity Assessment by Product
9.13 Market Attractiveness Analysis by Product
Chapter 10 Europe Bio Solvents Analysis and Forecast
10.1 Introduction
10.2 Europe Bio Solvents Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Bio Solvents Market Size Forecast by Application
10.6.1 Adhesives & Sealants
10.6.2 Paints & Coatings
10.6.3 Printing Inks
10.7 Basis Point Share (BPS) Analysis by Application
10.8 Absolute $ Opportunity Assessment by Application
10.9 Market Attractiveness Analysis by Application
10.10 Europe Bio Solvents Market Size Forecast by Product
10.10.1 Lactate Ester
10.10.2 Soy Methyl Ester
10.10.3 Alcohol
10.10.4 Glycols
10.11 Basis Point Share (BPS) Analysis by Product
10.12 Absolute $ Opportunity Assessment by Product
10.13 Market Attractiveness Analysis by Product
Chapter 11 Asia Pacific Bio Solvents Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Bio Solvents Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Bio Solvents Market Size Forecast by Application
11.6.1 Adhesives & Sealants
11.6.2 Paints & Coatings
11.6.3 Printing Inks
11.7 Basis Point Share (BPS) Analysis by Application
11.8 Absolute $ Opportunity Assessment by Application
11.9 Market Attractiveness Analysis by Application
11.10 Asia Pacific Bio Solvents Market Size Forecast by Product
11.10.1 Lactate Ester
11.10.2 Soy Methyl Ester
11.10.3 Alcohol
11.10.4 Glycols
11.11 Basis Point Share (BPS) Analysis by Product
11.12 Absolute $ Opportunity Assessment by Product
11.13 Market Attractiveness Analysis by Product
Chapter 12 Latin America Bio Solvents Analysis and Forecast
12.1 Introduction
12.2 Latin America Bio Solvents Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Bio Solvents Market Size Forecast by Application
12.6.1 Adhesives & Sealants
12.6.2 Paints & Coatings
12.6.3 Printing Inks
12.7 Basis Point Share (BPS) Analysis by Application
12.8 Absolute $ Opportunity Assessment by Application
12.9 Market Attractiveness Analysis by Application
12.10 Latin America Bio Solvents Market Size Forecast by Product
12.10.1 Lactate Ester
12.10.2 Soy Methyl Ester
12.10.3 Alcohol
12.10.4 Glycols
12.11 Basis Point Share (BPS) Analysis by Product
12.12 Absolute $ Opportunity Assessment by Product
12.13 Market Attractiveness Analysis by Product
Chapter 13 Middle East & Africa (MEA) Bio Solvents Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Bio Solvents Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Bio Solvents Market Size Forecast by Application
13.6.1 Adhesives & Sealants
13.6.2 Paints & Coatings
13.6.3 Printing Inks
13.7 Basis Point Share (BPS) Analysis by Application
13.8 Absolute $ Opportunity Assessment by Application
13.9 Market Attractiveness Analysis by Application
13.10 Middle East & Africa (MEA) Bio Solvents Market Size Forecast by Product
13.10.1 Lactate Ester
13.10.2 Soy Methyl Ester
13.10.3 Alcohol
13.10.4 Glycols
13.11 Basis Point Share (BPS) Analysis by Product
13.12 Absolute $ Opportunity Assessment by Product
13.13 Market Attractiveness Analysis by Product
Chapter 14 Competition Landscape
14.1 Bio Solvents Market: Competitive Dashboard
14.2 Global Bio Solvents Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Myriant Corp
14.3.2 BioAmber
14.3.3 Huntsman Corp
14.3.4 AkzoNobel NV
14.3.5 The Dow Chemical Co
14.3.6 LyondellBasell
14.3.7 Vertec Biosolvents and Florida Chemicals
14.3.8 Cargill Inc
14.3.9 EI du Pont de Nemours & Co
14.3.10 BASF SE