DUBLIN--(BUSINESS WIRE)--The "Green & Bio-solvents Market by Type (Bioalcohols, Bio-Diols, Biogycols, Lactate Esters), Application (Industrial & Domestic Cleaners, Paints & Coatings, Adhesives, Printing Inks, Pharmaceuticals) and Region- Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The global green & bio-solvents market will grow to USD 1.6 Billion by 2027, at a CAGR of 5.6% from USD 1.2 Billion in 2022
Volatile organic compounds (VOCs) contain one or more carbon atoms that have high vapor pressures and, therefore, evaporate rapidly in the air. Conventional solvents are high in VOC content and are used in paints & coatings, adhesives, sealants, printing inks, and varnishes. VOCs contain smog which has an adverse impact on human and animal health.
They also have environmental effects and can lead to a reduction in agricultural crops and other commercial forest yields. The shift from solvent-based paints to water-based or other solvent-free paints has affected the demand for conventional solvents negatively and has driven the green & bio-solvents market.
Methyl Soyate is projected to be the fastest-growing type of green & bio-solvents market during the forecast period.
Methyl soyate is projected to be the fastest-growing green & bio-solvents type between 2022 and 2027. This is due to the presence of stringent regulations regarding the use of petrochemical-based solvents. Moreover, good organic solvency, low VOCs, high (safe) flashpoint, and low toxicity drive the growth of the methyl soyate solvent market in the region
Formulated consumer products ranging from hand cleaners to auto-care to personal care products that utilize methyl soyate are already being produced and marketed. Methyl soyate is proving to be a great alternative to petrochemical-based cleaners.
Industrial & domestic cleaners is estimated to be the largest application in green & bio-solvents market, in terms of value, in 2021
Industrial & domestic cleaners led the green & bio-solvents market, in terms of both value and volume, in 2021. This is due to the increased use of bioethanol and biopropanol in hand sanitizers, surface sanitizers, and disinfectants, among other product
The use of bio-solvents in household cleaners helps to clean the kitchens, showers, toilets, carpets, and other household items. This segment also includes surface sanitizers and hand sanitizers. Currently, there is increased demand for green & bio-solvents in this segment due to the outbreak of novel coronavirus.
Europe is estimated to be the second-largest green & bio-solvents market, in terms of value, in 2021
Europe was the second-largest market for green & bio-solvents, in terms of value, in 2021. The stringent regulatory environment in the region promotes the growth of green & bio-based products. The switch from petrochemical-based solvents to green & bio-solvents and the growing domestic demand for biodegradable and non-toxic products are estimated to drive the demand for green & bio-solvents in the region.
Competitive landscape
The key players profiled in the report include Archer Daniels Midland Company (US), BASF SE (Germany), Cremer Oleo (Germany), Solvay (Belgium), Stepan Company (US), Dow Inc. (US), and GF Biochemicals (Netherlands), among others.
Premium Insights
- Growing Demand from Furniture & Bedding, Construction, and Automotive to Boost Market
- North America to be Fastest-Growing Market During Forecast Period
- US Accounted for Largest Share of North American Green and Bio Polyols Market
- Market in US Projected to Witness Highest CAGR
Market Dynamics
Drivers
- Use of Bio-Based Polyols in Polyurethane Used in Automotive, Furniture, and Construction Industries
Restraints
- Developments in Different Regions to be a Restraint for Market
Opportunities
- Concerns Over Depletion of Non-Renewable Resources and Environment Along with Innovations
- Increasing Usage of Bio-Based Polyols in Construction and Other Industries
Challenges
- Availability of Raw Materials and Crude Oil, Higher Cost of Green and Bio-Based Polyols, and Imbalance Between Commercial and Food Crop
Industry Trends
Technology Analysis
- Bio-Based Polyurethane Advancements for Automotive Interior Coatings-Stahl
Case Study Analysis
- Lanxess Introduces a Bio-Based Prepolymer Line - Green Adiprene
- Objective
- Approach: Optical Modeling for Paper Analysis
- Result: Efficient Development and Optimization
Patent Analysis
- Total Number of Patents, 2011-2021
- Green and Bio Polyols Market: Granted Patents, Limited Patents, and Patent Applications
- Patent Publication Trends (2011-2021)
- Legal Status of Patents
- Top Companies/Applicants
- List of Patents by Covestro Deutschland Ag
- List of Patents by Dow Global Technologies LLC
- List of Patents by Basf Se
- Top 10 Patent Owners (Us) in Last 10 Years
Company Profiles
Major Players
- Cargill, Incorporated
- the Dow Chemical Company
- Basf Se
- Emery Oleochemicals
- Covestro Ag
- Stepan Company
- Biobased Technologies LLC
- Jayant Agro-Organics Limited
- Global Bio-Chem Technology Group Company Limited
- Huntsman International LLC
Other Players
- Novomer Inc.
- Roquette
- Mitsui Chemicals
- Koch Industries
- Arkema
- Johnson Controls
- Croda International plc
- Piedmont Chemical Industries
- Polylabs
- Itoh Chemicals
- Repsol S.A.
- Huntsman Ifs
- Xuchuan Chemical(Suzhou) Co. Ltd.
- Stahl Holdings Bv
- Shakun Industries
- Oleon Nv
- Huada Chemical Group Co. Ltd.
- Synthesia Technology
- Evonik
- Acme Hardesty
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