Green Solutions: First Ceresana Study on the European Market for Bio-Based Solvents

Sometimes, water is simply not enough: Stronger solvents are often needed to dilute paints, remove dirt, or extract active ingredients for medicines. Unfortunately, xylene, toluene, and other petrochemical products are not only highly effective but can also be highly toxic. In beauty and care products in particular, more environmentally friendly and healthier alternatives that are at least partially made from renewable raw materials are increasingly being used. For the first time, Ceresana has now specifically analyzed the European market for “green” solvents. The new bio-based solvents market report forecasts that European sales of these products will grow to more than EUR 2.2 billion by 2034.

Sustainable Solutions for the Bioeconomy

Solvents are among the most economically important chemicals. They are required in many industrial sectors and different application areas. Among other applications, bio-based solvents that are harmless and ideally also biodegradable are needed for bio-based cleaning agents or bio-based paints. The ingredients for natural and organic cosmetics, for example, should meet the international standard ISO 16128. The largest consumers also include manufacturers of printing inks, adhesives, and pharmaceutical products. The food industry uses solvents, for example, to decaffeinate coffee, to dilute flavors, or to degrease surfaces. Solvents are also used for chemical manufacturing processes, cooling circuits, and de-icing agents. The market growth of green solvents is driven by stricter environmental regulations and ESG requirements. In addition to data, analysis, and forecasts regarding the market size, the new bio-based solvents market report by Ceresana also contains background information on the regulatory framework in the EU as well as the general economic situation in the individual countries.

Focus on Sustainable Chemicals: Current Ceresana Study on the Global Market for Bio-Based Solvents

Bio and beauty go well together: Cosmetics are increasingly made using natural materials, from fragrances, colors, and emulsifiers to packaging made from bioplastics. Beauty and care products are one of the most important applications for bio-based solvents. The cosmetics, cleaning agents as well as the paints and coatings markets alone currently account for almost two thirds of sales of “green” solvents, which are at least partially produced from renewable raw materials. The latest bio-based solvents market report by Ceresana predicts that the global market for bio-based solvents will continue to grow and reach around USD 9.3 billion by 2034. For vegetable oils, alcohols such as bioethanol or biobutanol, and other organic solvents, the company’s market researchers expect average annual growth of 4.2% worldwide, and even more than 5.0% in Asia and Africa.

Research Nester Private Limited has published a research report providing a forecast assessment of the green/biosorbents market. It highlights several key market dynamics, including growth drivers, market opportunities, challenges, and threats in the green/biosorbents market.

Green/biosolvents are manufactured from renewable resources and are biodegradable and non-corrosive. Strict regulations on volatile organic compound (VOC) emissions and other harmful air pollutants are expected to increase demand for bio-based green solvents According to National Emissions Inventory (NEI) data, estimated VOC emissions from anthropogenic sources, decreased 47% over the past 20 years, from 23 million tons to 12.2 million tons. Most of the emission reductions were observed in industrial processes; such overwhelming reductions in VOC emissions are expected to boost demand for green and bio-based solvent markets.

Ask industry experts about this report @ https://www.researchnester.jp/reports/green-bio-solvents-market/3256

Increasing adoption of green/biosolvents across the globe owing to their biodegradability, corrosion resistance, and recyclability is projected to provide various opportunities for market growth. Environmentally friendly properties and lower emissions of volatile organic compounds than conventional petroleum-based solvents are estimated to be the main drivers of the shift to biosolvents over the years. The hazardous environmental impact of volatile organic compounds, the volatility of oil prices, the increasing adoption of biosorbents and growing environmental concerns, and growing consumer awareness of environmentally friendly products are expected to drive the adoption of biosorbents.

The green/biosolvent market has seen a significant increase in demand from hospitals and healthcare organizations worldwide for the manufacture of a variety of pharmaceuticals during COVID-19 The explosive wave of Covid-19 caseloads has led to increased demand for penicillin, aspirin, cough syrups, and a variety of other pharmaceuticals demand for a variety of other pharmaceuticals. This has created significant demand for bio-solvents. The market is expected to continue growing even after the coronavirus outbreak.

Green/Biosolvent Market Segmentation Insights

The report is segmented by type (bioalcohols, bioglycols, biodiols, ethyl lactate, D-limonene, and methylsoyate); and by application (paints and coatings, industrial and household cleaning, printing inks, adhesives and sealants, pharmaceuticals, cosmetics, agriculture, other The segmentation and detailed analysis of the sub-segments are further outlined by

Key Companies in the Green/Biosolvents Market

Industry leaders in the green/biosolvent market include BASF SE, Archer Daniels Midland Co, BioAmber Inc, Dow Chemical Company, Cargill Inc, Cremer Oleo GmbH & Co, Vertec Biosolvents Inc, Florida Chemical Company, Inc, Botaneco Inc, and Shenzen Esun Industrial Co Ltd. The report also presents a detailed analysis of several factors of the company, including all employees of the organization, key strategies, key matrices describing the company's financials, and mergers and acquisitions.

The market report also provides detailed information on regional analysis. The market is segmented into five major regions: North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

The North American market is projected to grow at the highest CAGR during the forecast period due to increased availability of raw materials and presence of major manufacturers in the region. Growth in the North American market can also be attributed to rising demand for bio-solvents due to increasing public awareness and continuous product innovation in terms of quality and application development. As shale gas production increases, North American ethylene producers are shifting away from petroleum-based naphtha to natural gas-based feedstocks, sugar, glycerol, and other plant-based products. This is estimated to boost market growth in the region.

The green/biosolvent market is further segmented on the basis of region.

Asia Pacific (China, India, Japan, Korea, Indonesia, Malaysia, Australia, New Zealand, Singapore, and Rest of Asia Pacific)

North America (U.S. and Canada)

Middle East and Africa (Israel, GCC [Saudi Arabia, United Arab Emirates, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, other Middle East and Africa)

Latin America (Brazil, Mexico, Argentina, other Latin American countries)

Europe (UK, Germany, France, Italy, Spain, Hungary, Belgium, Netherlands, Luxembourg, NORDIC, Poland, Turkey, Russia, Other Europe)

The research report further includes several prominent market analysis parameters such as industry growth drivers, constraints, demand and supply risks, market attractiveness, year-on-year (YOY) growth comparisons, market share comparisons, BPS analysis, SWOT analysis, and Porter's Five Forces Model. The report includes detailed forecasts by market value and volume, along with Y-o-Y growth rates for each segment.

Ask Industry Experts about this report @ https://www.researchnester.jp/reports/green-bio-solvents-market/3256

About Research Nestor

Research Nester is a leading strategic market research and consulting service provider. We aim to provide unbiased and unparalleled market insights and industry analysis to help industries, conglomerates, and executives make smart decisions about future marketing strategies, expansion, and investment. We believe that every business is expanding to new horizons and that the right guidance is available through strategic minds at the right time. Our out-of-the-box thinking helps clients make smart decisions to avoid future uncertainty.

[Contact. ]

Naomi Kosugi

Email: [email protected]