Portland, OR -- (SBWIRE) -- 02/20/2018 -- The leading players in the market have adopted expansion and partnership/collaboration as the most preferred developmental strategies to expand their respective market presence. The prominent players profiled in this report, include BASF SE, BioAmber, Inc., Myriant Corporation, Dow Chemicals, Cargill Incorporated, Gevo, Inc., Vertec Bio solvents, Inc., Florida Chemicals, Lyondellbasell and E.I. du Pont de Numerous and Company, Solvay S.A. and Huntsman Corporation.

Green/Bio-Based Solvents Market Report, published by Allied Market Research, forecasts that the global market is expected to reach 3,321 kilo tons by 2020, registering a CAGR of 4.3% during the period 2015-2020. Paints and coatings application segment contributed 43.6% share of the overall green solvents market, and is expected to maintain this trend during the forecast period.

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Green solvents are bio-based solvents that are derived from various agricultural sources, such as corn, sugarcane, lactic acid, refined glycerine, bio succinic acid, vegetable oils, among others. Volatility in the crude oil prices, lower content of volatile organic compounds (VOC) and environment-friendly attribute of green solvents are the major factors fostering the growth of this market across the globe. Furthermore, increasing adoption of green solvents among the end users, including paints and coatings, printing inks and others; spiralling construction activities, automobile and consumer goods industries across the globe would supplement the market growth. However, high production cost due to capital-intensive production techniques coupled with heavy R&D investments are the major factors that would hamper the market growth.

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Green/Bio-Based Solvents Market Key segments:
The market for global green solvents is segmented as

By Types
Esters
Lactate Esters
Methyl Esters
Others
Alcohols, diols & glycols
Solketal
Isobutanol
D-Limonene
Others