NORTH AMERICA GREEN SOLVENTS & BIO SOLVENTS MARKET FORECAST 2019-2027

NORTH AMERICA GREEN SOLVENTS & BIO SOLVENTS MARKET FORECAST 2019-2027

  • January 2019 •
  • 88 pages •
  • Report ID: 4622000
KEY FINDINGS
North America has the largest market share of green solvents market followed closely by Europe.A very high level of awareness about the environment, stringent environmental regulations and improving the economic situation and construction industry in the US and Mexico will lead to higher market share in the forecast period.

The North American green solvents market is expected to grow at a CAGR of 7.17% during 2019-2027. High adoption rate and demand from end-use industries and strict environmental regulations for the usage of these particular solvents will be responsible for the market growth.

MARKET INSIGHTS
Green solvents are solvents made from naturally occurring resources like plants, fruits, seeds and other.These are non-emitting VOCs (Volatile Organic Compounds) with very low toxicity level, low miscibility, easily biodegradable under environmental conditions.

Environmental concerns have led to industrial participants investing in developing cheaper and superior green solvents.The Federal and environmental agencies like the Environmental Protection Agency (EPA) and ECHA have executed numerous regulations assisting green solvents, thus aiding the global green solvents market.

Initiatives like the Montreal Protocol, which are laid down to protect the environment are expected to help the market further.Paint and coatings application segment has the highest market share for green solvents, and it is expected to be the fastest growing segment in the forecast period as well.

Huge installation cost, decreasing the price of oil and gas and slow reaction rate compared to alternative chemical solvents are going to restrain its adoption during the forecasting years.

COMPETITIVE INSIGHTS
DowDuPont, AkzoNobel, BASF SE, Huntsman Corporation, Merck & Co., Inc., Sasol Limited, Ashland Inc., Cargill Incorporated, PPG Industries Inc., Koninklijke DSM N.V., Solvay S.A. and Bayer AG are the competing companies in the market.

Companies mentioned
1. BASF SE
2. DOWDUPONT
3. KONINKLIJKE DSM N.V.
4. AKZONOBEL
5. HUNTSMAN CORPORATION
6. MERCK & CO., INC.
7. SASOL LIMITED
8. ASHLAND INC.
9. CARGILL INCORPORATED
10. PPG INDUSTRIES INC.
11. SOLVAY S.A.
12. BAYER AG