Global Green & Bio-based Solvents Market by Application (Paints & Coatings, Adhesives), by Product (Methyl Soyate, Lactate Esters) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Industry Insights

In 2015, the global green and bio-based solvents market was valued at USD 5.8 billion. This market is expected to grow significantly over the forecast period. This market is driven by growing demand from key segments like coatings, adhesives and pharmaceuticals. The growth of paints and coatings as well as adhesives can be attributed to the growing population and the resulting growth in other industries like real estate, public works and building and construction.

These products are in high demand in many industries, including paints and coatings, industrial cleaners, domestic cleaners, adhesives and printer inks pharmaceuticals, cosmetics, and healthcare. Another key driver of the market is the increase in R&D capabilities by manufacturers to develop additional feedstocks and manufacturing technologies that can be used for large-scale production.

The industry faces key challenges, including increasing demand for biobased raw materials in other industries, and misinformation among consumers about the cost and performance of biobased solvents. The availability of raw materials like soybean oil and cornstarch to generate biofuels could be affected by the rising demand.

Asia Pacific is estimated to witness the highest growth during the forecast period, owing to availability of raw materials, low cost of production, presence of a large number of manufacturers, and high demand for environmental-friendly solvent solutions for several end-use verticals. The region's growing middle class and increasing disposable income have resulted in a greater awareness of the environmental impact of high-VOC adhesives and paints.

Product Insights

The market for green and biobased solvents can be classified based on their product: bio-alcohols and bio-glycols and bio-diols. With a global revenue of more than USD 1.5 billion in 2015, lactate esters dominated this industry. The segment is expected to see the greatest growth due to its increasing use, availability of raw materials like lactic acid, as well as low production costs.

One of the most important product segments in the market is methyl soyate. This segment is expected to grow at a CAGR exceeding 11.0% over the forecast period. This is due to the rising demand for methyl soybean oil in automobile, industrial, and engine applications.

Application Insights

The market for green and bio-based solvents is divided by application. These include paints and coatings (industrial and domestic cleaners), adhesives printing inks, pharmaceuticals and cosmetics. As of 2015, the paints and coatings market accounted for more than USD 1.0 million in revenue. The growing environmental concerns about the use of industrial solvents that have high VOC levels in paints and coatings solutions is driving this application segment.

The highest revenue CAGR, at over 12.0%, is expected to be recorded by the adhesives segment during the forecast period. This rapid growth is due to the increasing demand from North America's automotive industry.

The awareness of the harmful effects of industrial solvents that are chemical-grade is growing around the world. This is driving demand for bio-based solutions in core applications like paints and coatings, as well as adhesives in end-use industries such as construction.

Regional Insights

The market is likely to see significant growth in Asia Pacific and Latin America over the next few years. This is due to technological advances, economic and industrial growth, as well as low production costs in countries like Japan, China, and Brazil. In addition, the growth of end-use industries like building and construction, as well as automobile, has been significant in recent years in these countries. This is mainly due to the rapidly growing construction and auto industries in the region.

Current growth in Europe's industry is moderate, mainly due to the changing political and economic dynamic of countries like Germany and U.K. Europe will see market growth if the construction and automotive sectors recover.

Green and Bio-based Solvents Market Share insights

Huntsman Corporation and BASF SE are key players in the global marketplace. In the face of fierce competition from Asian Pacific suppliers and manufacturers, these players are focusing their efforts on product development and partnerships to strengthen and sustain their position in the global marketplace.

Up Market Research published a new report titled “Green & Bio-based Solvents Market research report which is segmented by Application (Paints & Coatings, Adhesives), by Product (Methyl Soyate, Lactate Esters), By Players/Companies DuPont These players are focusing on new product developments and partnerships as key strategies for strengthening and sustaining their positions in the global market, Archer Daniels Midland Co, BASF SE, The Dow Chemical Co, amidst the intense competition from suppliers and manufacturers in Asia Pacific, Huntsman Corporation”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

Report Scope

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 Green & Bio-based Solvents Market Report Segments:

The market is segmented by Application (Paints & Coatings, Adhesives), by Product (Methyl Soyate, Lactate Esters).

Green & Bio-based 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 Green & Bio-based Solvents Market

Overview of the regional outlook of the Green & Bio-based 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 Green & Bio-based Solvents Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Green & Bio-based Solvents Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. Paints & Coatings

                2. Adhesives

                1. Methyl Soyate

                2. Lactate Esters

8. Market scenario by region, sub-region, and country.
9. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
10. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
11. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Green & Bio-based 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 Green & Bio-based 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.