Green Solvents Market Report

Green Solvents Market Analysis, Market Size, Application, Analysis, Regional Outlook, Competitive Strategies and Forecasts, 2015 to 2022

Format: PDF  |  Report ID: GVR1958

High green solvents demand from the end-use industries is projected to positively influence the global market over the next seven years. Solvents are basically additives that are mixed along with other materials for producing a new material. Growing health and environmental concerns regarding conventional solvent usage are presumed to play a critical role in shaping the future of global green solvents market. Constant volatility in crude oil prices has negatively affected the conventional solvents market and is thus anticipated to drive the bio based solvents market. Growing green solvents acceptance across multiple industries over the past few years is expected to further compliment the global green solvents market development. Shifting consumer preferences in favor of bio-based solvents is a key driver for the overall green solvents market development. Concerns regarding high VOC content in the conventional solvents have resulted in such a shift in consumer preference. Industry participants have invested heavily in R&D initiatives to develop superior and cheaper green solvents. Governments and agencies such as the Environmental Protection Agency (EPA) and ECHA have implemented several regulations favoring green solvents, thereby aiding the global green solvents market. Initiatives to protect the environment such as the Montreal Protocol are expected to further compliment the market. Rebounding global economy in the recent years is presumed to assist green solvent end-use industries such as construction, coating, cleaning products, industrial applications, toiletries and cosmetics. Such robust demand from the end-use industries is slated to further compliment the global market. Environmental and health concerns have encouraged rapid green solvent acceptance in industries such as construction, paints and coatings, thus favoring the global market development. However, massive unconventional hydrocarbon production in North America has pushed oil and gas prices to extremely low levels. Such a downturn in oil and gas prices has resulted in higher conventional solvents production due to higher profit margins. Such shifting trend towards conventional solvent production is touted to hamper the global green solvents market growth. Green solvents have a slower reaction rate compared to conventional solvents, thus requiring more operational time. Such operational as well as technological difficulties are projected to hinder the global green solvents market growth. Gargantuan initial investments required for entering the green solvents market is anticipated to ward off new entrants. Higher cost owing to costly production techniques and R&D investments are projected to retard the global market to some extent. Emerging markets such as Asia Pacific and Central & South America promise ample opportunities for the industry participants owing to massive construction initiatives and growing consumer goods demand. R&D initiatives to develop superior products and reduce production costs offer abundant opportunities for both the existing as well as new industry entrants.

Asia Pacific has dominated the global green solvents market over the recent past ahead of North America. European market has witnessed sluggish growth over the last few years owing to severe euro zone crisis. Emerging economies such as India, China, Malaysia, Indonesia, Russia, Thailand and Brazil are estimated to witness brisk growth in the green solvents market. Such robust demand can be attributed to construction initiatives, rising disposable income leading to higher consumer goods consumption and government initiatives regarding health and environment.

Industry participants are taking strong measures to improve their product portfolio and increase production capacity to get a foothold in the growing emerging markets. Conventional solvent manufacturers are shifting their focus towards green solvents and forging partnerships with companies having access to raw materials and R&D capability. Prominent green solvents industry participants include Genomatica Inc., Archer Daniels Midland Company, Vertec Biosolvents, Akzo Nobel NV, The DOW Chemical Company, BASF SE, Sucrogen Bioethanol Pty Ltd., Bioamber Inc., Shenzen Esun Industrial Company Ltd., Cargill Incorporated, Pinova Holdings Inc., Cremer Oleo Gmbh & Company KG, Myriant Corporation, CSM NV, Lyondell Basell Industries NV, E.I. Du Pont de Nemours & Co., Hunstman Corporation, Finasucre S.A., Gevo Inc. and Florida Chemical Company Inc.

 

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