Global bio-solvents market is expected to reach USD 9.43 billion in 2022 and is growing at a CAGR of 7.8% between 2017 and 2022.
The report covers forecast and analysis for the bio-solvents market on a global, regional level. The study provides historical information of 2014-2016 with a forecast from 2017 to 2022 based on both volume (Kilo Tons) and revenue (USD billion). The complete study covers the key drivers and restraints for the bio-solvents market. It also provides the impact of the market within the forecast period. Furthermore, the study also includes the opportunities accessible within the bio-solvents market on a global level.
In order to offer the users of this report, a comprehensive read on the bio-solvents market, we have enclosed the detailed value chain analysis. To know the competitive landscape within the market, an analysis of Porter’s Five Forces model for the bio-solvents market has additionally been enclosed within the study. The study encompasses a market attractiveness analysis, whereby all segments are benchmarked supported their market size, rate, and general attractiveness.
The study also includes the market share of the key participant’s operating in the bio-solvents market across the globe. Besides, the report covered the strategic development together with acquisitions & mergers, agreements, partnerships, collaborations and joint ventures and regional growth of key players within the market on a regional basis.
The study provides a crucial view on the bio-solvents market by segmenting the market based on its segmentation. The segmentation included type, application, and region. All the segments have been analyzed based on present and future trends and the market is estimated from 2016 to 2022. Based on the type, the global bio-solvents included in this study are alcohols, glycols, diols, lactate esters, d-limonene, methyl soyate & others. Additionally, the regional classification includes the key countries and regions such as Europe, North America, Latin America, Asia Pacific, and Middle East & Africa.
The study provides the exhaustive company profiles of the worldwide market along with the in-depth description of players. Some of the key manufacturers included in the study are Archer Daniels Midland Company , BASF SE , Bioamber Inc , Huntsman Corporation , Dupont , DOW Chemical Company , Vertec Biosolvents Inc , Florida Chemicals Company Inc , Cargill Inc , Solvay , LyondellBasell , Gevo , Galactic , Myriant , and Pinova Holdings INC among others.
The report segments the global bio-solvents market as
Global Bio-Solvents Market: Type Analysis
Global Bio-Solvents Market: Application Analysis
Global Bio-Solvents Market: Regional Analysis
This report is based on in-depth qualitative and quantitative analyses of the global Bio-Solvents market. Zion Research has collected and analyzed key data belong to the global Bio-Solvents market using a variety of methods. Quantitative analysis has been done following various projection and sampling techniques.
The qualitative analysis involved primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes were validated through experts' opinions. The market dynamics have been determined after conducting a detailed study of the micro and macroeconomic indicators of the market.
Various parameters have been taken into account, while estimating market size. The revenue generated by the leading industry participants in from the sales of Bio-Solvents across the world has been calculated through primary and secondary research.
Zion Research employs the combination of secondary research followed by extensive primary research. Under secondary research, we refer to prominent paid as well as open access data sources including product literature, company annual reports, government publications, press releases, industry association’s magazines and other relevant sources for data collection. Other prominent secondary sources include STATISTA, trade journals, trade associations, statistical data from government websites, etc.
For this study, Zion Research has conducted all-encompassing primary research with key industry participants to collect first had data. Moreover, in-depth interviews with key opinion leaders also assisted in validation of findings from secondary research and to understand key trends in the Bio-Solvents industry. Primary research makes up the major source of data collection and validation.
We conduct primary interviews with industry participants and commentators on an ongoing basis to validate data and analysis. A typical research interview fulfills the following functions:
Participants who typically participate in such a process include, but are not limited to:
Key opinion leaders specializing in different areas corresponding to different industry verticals
Secondary research sources that are typically referred to include, but are not limited to:
News articles, press releases and webcasts specific to companies operating in the market
Following a comprehensive secondary and primary research and insights thus gathered, analysts at Zion Research have provided an in-depth analysis of various aspects of the Bio-Solvents market.
Where no hard data is available, we use models and estimates to produce comprehensive data sets. A rigorous methodology is adopted, wherein the available hard data is cross-referenced with the following data types to produce estimates:
Bio-solvents are solvents made from naturally occurring resources such as plants, fruits, seeds and other. Bio-solvents are non-emitting VOCs (Volatile Organic Compounds), and their properties are low miscibility, low toxicity, and biodegradable. Bio-solvent products have been considered as an alternative to conventional solvents. As they bear a close resemblance to existing petroleum derived solvent products, bio-solvents can be readily absorbed into the fine chemical industries.
High demand for bio-solvents in different end user industries is expected to upsurge the bio-solvents market in the near future. Furthermore, eco-friendly nature and low volatile organic compound (VOC) content emission than conventional solvents are expected to boost the market within the forecast period. However, its high production cost may limit the market growth in near future. Nevertheless, shifting government rules and regulations for rising environmental awareness would give many significant opportunities for the growth of the bio-solvents market in coming years.
The bio-solvents market is segmented on the basis of type, application, and region. On the basis of type, segment market is classified into alcohols, glycols, diols, lactate esters, d-limonene, methyl soyate, and others. In 2016, lactate ester was a major type segment on account of the growing demand for printing inks, coatings, and industrial applications. The glycol solvents are expected to register the highest growth owing to its increasing penetration in ends user industries such as automotive coatings, industrial coatings, paints and printing inks. Moreover, it's slow evaporation rate and high blush resistance is driving its demand over other solvents. On the basis of application, the bio-solvents market is segmented as industrial & domestic cleaners, paints & coatings, adhesives, printing inks, others. Paints & coatings emerged as the largest application segment accounting for a major chunk of the global market in 2016.
In 2016, North America was the largest market for bio-solvents followed by Europe. High level of awareness regarding health and environmental effects of conventional solvents coupled with stringent environmental regulations lead to higher market share in the region. Furthermore, robust improvement in the U.S. & the Mexican construction industry is expected to further boost the market growth in the forecast period. Asia Pacific is expected to register a significant growth rate on account of growing automotive and construction industries. In addition, rapid industrialization in developing markets of India and China is expected to drive bio-solvents demand in the region.
The bio-solvents industry remains fragmented, with the presence of a large number of companies. Key players profiled in the report include Archer Daniels Midland Company , BASF SE , Bioamber Inc , Huntsman Corporation , Dupont , DOW Chemical Company , Vertec Biosolvents Inc , Florida Chemicals Company Inc , Cargill Inc , Solvay , LyondellBasell , Gevo , Galactic , Myriant , and Pinova Holdings INC among others. The key players are taking active measures to develop their product portfolio, and escalate the production capabilities to a strong position in the global market.