Bio-based solvents are environment-friendly and emit less volatile organic compounds (VOCs). These solvents are derived from agricultural sources such as sugarcane, corn, refined glycerine, lactic acid, soybean oil, bio-succinic acid, and other similar products. Compared with petroleum-based conventional solvents, bio-based solvents are less toxic and are thus increasingly preferred by end-users. The consumption rate of green and bio-based solvents in the domestic and industrial fields is likely to increase significantly during the forecast period. Paints and coatings, printing inks, adhesives and sealants, cleaning products, and other industries use green and bio-based solvents on a large scale. Rising environmental awareness and increasing emphasis on human health and hygiene have propelled the use of environment-friendly bio-based solvents.
Technavio’s analysts forecast the global bio-based solvent market to grow at a CAGR of 8.41% during the period 2017-2021.
Covered in this report The report covers the present scenario and the growth prospects of the global bio-based solvent market for 2017-2021. To calculate the market size, the report considers the revenue generated from the sales of bio-based solvent.
The market is divided into the following segments based on geography: • APAC • Europe • North America • ROW
Technavio’s report, Global Bio-based Solvent Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
Key vendors • Archer Daniels Midland Company • BASF • Cargill • The Dow Chemical Company • Huntsman
Other prominent vendors • CREMER OLEO • Gevo • Liberty Chemicals • Myriant Corporation • Solvay
Market driver • Increasing acceptance of bio-based solvents in various end-user industries • For a full, detailed list, view our report
Market challenge • High costs associated with the adoption of new technologies • For a full, detailed list, view our report
Market trend • Rising environmental awareness • For a full, detailed list, view our report
Key questions answered in this report • What will the market size be in 2021 and what will the growth rate be? • What are the key market trends? • What is driving this market? • What are the challenges to market growth? • Who are the key vendors in this market space?
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