The global biosolvents market is anticipated to witness a significant CAGR in the forecast period, 2023-2027. The rise in the environmental regulations imposed by the leading authorities of several countries, especially in Europe and North America region and the enhanced supply and availability of bio solvents in the market are the primary drivers for the growth of the global biosolvents market. Also, the rise in the research and development activities to find novel solutions and the fluctuations in oil prices can create numerous growth opportunities for the global biosolvents market in the next five years.
Favorable Government Policies Drive the Market Growth
High usage of chemicals across countries and the rise in environmental awareness have led the leading authorities to impose a number of regulations on the technologies used in paints and coatings manufacturing. Synthetic solvents are a major ingredient in manufacturing paints, and they pose a serious risk to the employee’s health. These can adversely impact the health of an individual by irritating the skin, eyes, and nose. Also, conventional solvents release volatile organic compounds that are harmful to the environment. Leading authorities are keeping a close eye on waste disposal and emissions into the environment and are imposing strict regulations to limit the use of synthetic solvents. Regulations like the Farm Security and Rural Investment Act of Public Law 107-171 and Registration, Evaluation, Authorisation, and Restriction of Chemicals (REACH) have made it necessary for manufacturers to make use of bio-based materials for the manufacturing process. Also, to protect the employees, market players must provide protective gear, air-tight goggles, safety gloves, protective clothing, and full-face respirators to lower exposure to synthetic solvents. The harmful threats posed by synthetic solvents are expected to propel the global biosolvent market growth in the coming years.
Extensive Research and Development Activities Support the Market Growth
The conventional solvents that are used in personal care products and other manufacturing processes can cause severe health problems such as irritation of the eye, skin, sore throat, hormone disruptions, asthma, and allergic contact dermatitis, among others. Also, the use of synthetic solvents in pharmaceutical applications can be toxic and carcinogenic. The launch of environment-friendly solvents due to the growing awareness about the negative effects of synthetic solvents is expected to influence market growth in the coming years. Archer Daniels Midland Company acquired Florida Chemical Company (FCC), a division of Flotek Industries in November 2019 and Simialry, DuPont Tate & Lyle Bio Products, Corbion, INOLEX, and ACT Solutions are partnering together on the production of a range of personal care product formulations with 100% bio-based content. Market players are forming alliances and partnerships to support the growth of the global biosolvents market. Market players are making significant amounts for research and development activities to manufacture cost-effective and quality biosolvents that are not harmful to the environment and are expected to fuel the global biosolvents market growth over the next five years, 2023-2027.
Download Free sample Report @ https://www.techsciresearch.com/sample-report.aspx?cid=11742
Market Segmentation
The global biosolvents market is segmented into type, application, regional distribution, and competitive landscape. Based on type, the global biosolvents market is divided into alcohols, diols & glycols, esters, and others. Based on application, the global biosolvents market is divided into industrial & domestic cleaners, paints & coatings, adhesives & sealants, printing inks, and others. To analyze the market based on the region, the global biosolvents market is studied in regions namely North America, Europe, Asia-pacific, South America, Middle East, and Africa. In terms of country, the United States is expected to be a lucrative market for the global biosolvents market due to the rapid replacement of petrochemical-based solvents with bio-solvents.
Market Players
Archer Daniels Midland Company, BASF SE, Solvay SA, CREMER OLEO GmbH & Co. KG, Vertec Biosolvents Inc., Cargill, Inc., Stephan Company, Corbion NV, Dow Inc., GF Biochemicals Limited, are the key market players operating in the global biosolvents market.
| Attribute | Details |
| Base Year | 2021 |
| Historic Data | 2017 – 2020 |
| Estimated Year | 2022 |
| Forecast Period | 2023 – 2027 |
| Quantitative Units | Revenue in USD Million, and CAGR for 2017-2021 and 2022-2027 |
| Report coverage | Revenue forecast, company share, competitive landscape, growth factors, and trends |
| Segments covered | · Type· Application |
| Regional scope | North America; Europe; Asia Pacific; South America; Middle East & Africa |
| Country scope | United States, Mexico, Canada, France, United Kingdom, Italy, Germany, Spain, China, India, Japan, South Korea, Australia, Brazil, Argentina, Colombia, South Africa, UAE, Saudi Arabia |
| Key companies profiled | Archer Daniels Midland Company, BASF SE, Solvay SA, CREMER OLEO GmbH & Co. KG, Vertec Biosolvents Inc., Cargill, Inc., Stephan Company, Corbion NV, Dow Inc., GF Biochemicals Limited |
| Customization scope | 10% free report customization with purchase. Addition or alteration to country, regional & segment scope. |
| Pricing and purchase options | Avail customized purchase options to meet your exact research needs. Explore purchase options |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
Report Scope:
In this report, the global biosolvents market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:
- Biosolvents Market, By Type:
- Alcohols
- Diols & Glycols
- Esters
- Others
- Biosolvents Market, By Application:
- Industrial & Domestic Cleaners
- Paints & Coatings
- Adhesives & Sealants
- Printing Inks
- Others
- Biosolvents Market, By Region:
- North America
- United States
- Mexico
- Canada
- Europe
- France
- United Kingdom
- Italy
- Germany
- Spain
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Australia
- South America
- Brazil
- Argentina
- Colombia
- Middle East & Africa
- South Africa
- UAE
- Saudi Arabia
- North America
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in the global biosolvents market.
Related Reports
Acetaldehyde Market Analysis by Size Growth, Demand, Trends, Share & Overview
China Polypropylene Market Analysis by Size Growth, Demand, Trends, Share & Overview
Aerospace Composites Market Analysis by Size Growth, Demand, Trends, Share & Overview
Product Overview
- Research Methodology
- Executive Summary
- Impact of Russia-Ukraine War on the Global Biosolvents Market
- Voice of Customer
- Global Biosolvents Market Outlook
6.1. Market Size & Forecast
6.1.1. By Value
6.2. Market Share & Forecast
6.2.1. By Type (Alcohols, Diols & Glycols, Esters, Others)
6.2.2. By Application (Industrial & Domestic Cleaners, Paints & Coatings, Adhesives & Sealants, Printing Inks, Others)
6.2.3. By Company (2021)
6.2.4. By Region
6.3. Product Market Map
- North America Biosolvents Market Outlook
7.1. Market Size & Forecast
7.1.1. By Value
7.2. Market Share & Forecast
7.2.1. By Type
7.2.2. By Application
7.2.3. By Country
7.3. North America: Country Analysis
7.3.1. United States Biosolvents Market Outlook
7.3.1.1. Market Size & Forecast
7.3.1.1.1. By Value
7.3.1.2. Market Share & Forecast
7.3.1.2.1. By Type
7.3.1.2.2. By Application
7.3.2. Mexico Biosolvents Market Outlook
7.3.2.1. Market Size & Forecast
7.3.2.1.1. By Value
7.3.2.2. Market Share & Forecast
7.3.2.2.1. By Type
7.3.2.2.2. By Application
7.3.3. Canada Biosolvents Market Outlook
7.3.3.1. Market Size & Forecast
7.3.3.1.1. By Value
7.3.3.2. Market Share & Forecast
7.3.3.2.1. By Type
7.3.3.2.2. By Application