According to a new market report published by Market Research Store titled “Solvents & Bio Solvents Market Outlook - Global Trends, Forecast, and Opportunity Assessment (2014-2022)."
Deerfield Beach, FL -- (SBWIRE) -- 11/19/2015 -- Solvents & Bio Solvents Market Outlook - Global Trends, Forecast, and Opportunity Assessment (2014-2022)
The Global Green Solvents & Bio Solvents market is valued at $4.87 billion in 2014 and is expected to reach $9.56 billion by 2022 at a Compound Annual Growth Rate (CAGR) of 8.8%. The major driving factor for the market is increasing application of bio-based solvents in different industries, as these solvents improve labor safety with minimal disposal cost. But, the high viscosity of green solvents may be an issue with vital mass transformation for an application, which leads to slow reaction during the industrial processes, thus increasing the production time. This acts a major restraining factor for the market growth. The increasing safety regulatory framework is augmented to growing demand for bio and green solvents.
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The demand for Lactate Esters has increased as manufacturers included them in their products owing to their potential to replace several conventional and toxic solvents used in various applications. Within the end-users segment, cleaners application is estimated to show highest growth followed by printing inks. Agencies such as European Chemicals Agency (ECHA) and Environmental Protection Agency (EPA) have implemented various regulations supporting the global green solvents market. An initiative such as the Montreal Protocol to protect the environment is expected to further boost the market. R&D initiatives to reduce production costs and develop advanced products offer ample opportunities for the industry participants.
North America has the largest market followed by Europe and Asia Pacific. New innovations in manufacturing processes have led to enhanced product offerings to the customers in North America. The US is global hub for major green solvents and bio solvents manufacturers. The Asia-Pacific market is anticipated to grow rapidly in countries such as China, India, Thailand, and Japan. Globally, China holds a major market share with the largest consumption of bio and green solvents. The European market is growing comparatively slow due to the recent Eurozone crisis. Emerging markets such as South America and Asia Pacific promise abundant opportunities for the industry manufacturers led by the massive construction initiatives and rising consumer goods demand.
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The key players in the Green Solvents & Bio Solvents market include Cargill Incorporated, E.I. du Pont de Nemours & Co., Archer Daniels Midland Company, BASF SE, Gevo Incorporated, Akzo Nobel NV, Dow Chemical Company, Huntsman Corporation, Genomatica Inc., and Myriant Corporation.
Product types Covered:
- Lactate Esters
- Methyl Soyate Solvents
- Glycols & Diols Solvents
End Users Covered:
- Printing Inks
- Paints & Coatings
- Personal Care
- North America
- Asia Pacific
o New Zealand
o Rest of Asia
- Rest of the World
o Latin America
o Middle East
What our report offers:
- Market share assessments for the regional and country level segments
- Market share analysis of the top industry players
- Strategic recommendations for the new entrants
- Market forecasts for a minimum of 8 years of all the mentioned segments, sub segments and the regional markets
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements