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Green Solvent Market Current Trends, Industry Outlook, Regional Analysis and Growth Forecast by 2024

Author : Rahul Sankrityayan | Published Date : 2019-04-24 

An analysis of Green Solvent Market has been provided in the latest report introduced by Global Market Insights, Inc. that primarily focuses on the market trends, demand spectrum, and prospects of this industry over the forecast period. Furthermore, the report provides a detailed statistical overview in terms of trends outlining the geographical opportunities and contributions by prominent industry share contenders.

Green Solvent Market size is driven by strong application scope in paint& coatings, printing inks and adhesive industries. It is an environmentally friendly biosolvent derived from agricultural crops processing.

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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Increasing concern over VoC to reduce such emission is enhancing adhesive and sealant formulators, thereby influencing green solvent market growth. 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.

Green solvent based adhesive are replacing metal welding work for attaching trim items and external component such as bumper, head guard, handles and lights. They are easy to use, possess good sticking property and do not emit metal welding toxic gases. It is cost effective option and do not induce stress and affect mechanical property of joining parts.

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.

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Paints and coatings are ideally used to protect equipment and machines from corrosion and rusting. Rise in per capita disposable income along with growing automotive industry may stimulate green solvent market growth. Global paints & coatings market size should witness significant gains at over 5.5%.

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.

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.

Europe, green solvents market size, driven by UK, France, Italy, and Germany, may show significant gains.  Presence of major automotive industries in France and Germany should drive adhesives and sealants market in the region. 

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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.

Volatility in crude oil prices along with environmental effects of VoC may hinder the industry growth and affect green solvents market price trend. However, strict government guidelines by EPA regarding VoC emissions along with consumer awareness for eco-friendly products should drive green solvents market growth.

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.

About Author

Rahul Sankrityayan

Rahul Sankrityayan

Fortified with a post-graduate degree in Computer Applications, Rahul Sankrityan writes for Fractovia, where he pens down news and articles spanning across segments of technology industry that excite him on a day-to-day basis. Rahul comes with a rich experience in technical field as well as writing. He can be contacted at- [email protected] | https://twitter.com/sankritsays

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