Global Green and Bio Solvents Market is expected to grow at a CAGR of 7.45% over the Forecast Period of 2018 – 2024
The growth in this market is primarily driven by factors
such as increased demand for green solvents across end use application areas
such as paints and coating and industrial cleaning applications among others.
The green/bio solvents are increasingly used in paints and coating across
construction, manufacturing, automotive, and marine among other applications.
Moreover, the environmental issues associated with synthetic solvents and favorable
government regulations for the use of green solvents across application
industries are likely to augment the growth in this market over the forecast
period. On the other hand, the high cost associated with the manufacturing of
these solvents is likely to restrain the growth in this market over the
forecast period. The fluctuations in the crude oil prices and instability in
the prices of synthetic solvents are likely to provide opportunities for the
companies operating in the green/bio solvents market over the forecast period. Moreover,
the global trend of shifting from synthetic chemicals to bio-based chemicals is
one of the crucial factors affecting the growth in this market. Regulations
such as REACH have affected the consumption of the chemicals that are harmful
to human health and to the environment; this in turn is likely to pave avenues
for the manufacturing of the green/bio solvents over the next six years.
The report on Global
Green and Bio Solvents Market covers segments such as type and
application. The report provides regional analysis covering geographies such as
North America, Europe, Asia-Pacific, and Rest of the world In this section, the
key trends and market size for each geography are provided over the period of
2016-2024. The report provides profiles of the companies in the global Archer
Daniels Midland Company, BASF SE, bioamber inc., huntsman corporation, E.I.
Dupont de nemours & co., The dow chemical company, vertec biosolvents inc.,
florida chemicals company inc, cargill inc. and cremer oleo gmbh & co..