Green and Bio-Based Solvents Market Is Set to Reach $6.2 Billion by 2030, growing at a CAGR of 5.0% from 2021 to 2030

PORTLAND, OREGON, UNITED STATES, August 29, 2024 /EINPresswire.com/ -- Allied Market Research (AMR) has released a comprehensive new report revealing that the global green and bio-based solvents market was valued at $3.8 billion in 2020 and is projected to grow to $6.2 billion by 2030. This growth represents a compound annual growth rate (CAGR) of 5.0% from 2021 to 2030.

The detailed report provides an extensive analysis of the green and bio-based solvents market, breaking it down by type, application, and geography. The market's dynamic landscape includes a thorough examination of sales, revenue, growth rate, and market share for each segment, supported by detailed tables for both historical and forecast periods.

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Based on region, the North America region held the lion’s share in 2020, garnering more than one-third of the total market. The Asia-Pacific region, on the other hand, is predicted to cite the fastest CAGR of 6.5% during the forecast period.

Extensive use of green solvents as intermediates in manufacturing various products in industries such as inks, paints & coatings, detergents, cosmetics, adhesives, pharmaceutical, and others, significant surge in the demand for consumer goods across the globe, and the presence of rules and regulations laid by Eco-product Certification Scheme (ECS), European Commission for eco-friendly paints & coatings are expected to drive the growth of the global green and bio-based solvents market. On the other hand, extortionate production cost of green/bio-based solvents is expected to hinder the growth of the market to some extent. However, the growth of the packaging industry across the globe is expected to create ample opportunities for the industry.

Based on type, the esters solvents segment held the largest market share in 2020, garnering nearly two-thirds of the total market. The D-Limonene segment, on the other hand, is predicted to cite the fastest CAGR of 5.9% during the forecast period.

Based on application, the paints and coatings segment held the majority market share in 2020, holding more than two-fifths of the total market. The adhesives and sealants segment, on the other hand, is anticipated to exhibit the fastest CAGR of 5.3% during the forecast period.

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The key players analyzed in the global green and bio-based solvents market report include BASF SE, Cargill Inc., Clariant, DuPont, Huntsman Corp, LyondellBasell Industries Holdings B.V., OQ SAOC, Sasol, Solvay S.A and Vertec Biosolvents Inc.

Key benefits for stakeholders

Porter’s five forces analysis helps analyze the potential of buyers & suppliers and the competitive scenario of the industry for strategy building.
It outlines the current green/bio-based solvents market trends and future estimations from 2020 to 2030 to understand the prevailing opportunities and potential investment pockets.
The major countries in the region have been mapped according to their individual revenue contribution to the regional market.
The key drivers, restraints, and opportunities and their detailed impact analysis are explained in the study.
The profiles of key players and their key strategic developments are enlisted in the report.

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David Correa
Allied Market Research
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