Green Solvent Market share research by applications and regions for 2017-2024
The global Green Solvent Market share report provides numbers for applications and regional segments of the industry covering historical as well as forecast data for decision makers.
Green solvent is usually processed from lactic acid, sugarcane, soybean oil, corn, and refined glycerine. Increase in environmental awareness and supporting regulations should drive green solvents market growth.
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Adhesive and sealant industry is showing a robust growth due to positive application outlook in building & construction, shoe making, wood-working and product packaging. Global adhesive and sealant market is poised to exceed over USD 6.5 billion in 2024. Green solvent emit low VoC, thereby reduces smog formation and protects the environment.
Increase in standard of living and growing consumer health awareness has propelled domestic cleaner industry. Global domestic cleaner industry is poised to surpass USD 4 billion by 2024. Green solvent is less toxic and protects consumer from carcinogen diseases, dizziness, vomiting and nausea symptom without affecting cleaning property.
Global paints & coatings market size should witness significant gains at over 5.5%. In paints, solvents easily disperse or dissolve different components used in the paint formulation including resin and pigment, thereby making it suitable for the application. Green solvent based automotive paint is non-toxic in nature, owing to VoC free and sustaining paint durability.
Rising adoption of eco-friendly inks including UV cured inks and water based printing along with increase in R&D spending may favour printing inks market demand. It is used on metal sheets, paper, cardboards, flex and plastic sheets. Printing tonners are toxic in nature and prolonged exposure can cause dermatitis, skin burn and eye irritation.
North America, driven by Canada and the U.S. green solvent market size may witness strong growth owing to growing automotive sector along with strict government regulation regarding VoC emission may drive regional industry growth.
Asia Pacific led by Japan, India, and China green solvent market size may witness steady growth. Rapid industrialisation and rise in building & construction industry should favour regional industry growth. Increase in consumer health awareness has led to rise in domestic cleaning industry, thereby driving green solvent market growth.
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Global green solvent market share is competetive. Key market players operating in the industry include Huntsman, BASF, Solvay, Dow Chemical, Cargill, DuPont, Gevo, Vertec, Myriant, Lyondellbasell and Bio Amber. Companies are producing various products to be catered in end-use industries which may enhance product portfolio and expand regional presence.
Solvay produces and distributes series of green solvent including ADMA, Polarclean, RPDE, and IRIS under Rhodiasolv which are developed as the replacement for harmful solvent.
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