February 08, 2019
WELLESLEY, Mass., Feb. 08, 2019 – Due to increasing demand from manufacturers of printing inks, cleaning products, pharmaceuticals, foods and adhesives, the global market for green solvents has exhibited impressive growth, especially in comparison to the fossil-derived solvents market.
In 2018, the global market for green solvents was worth $3.9 billion. BCC Research predicts that this market will increase to $5.9 billion by 2023, indicating a compound annual growth rate (CAGR) of 7.0%, according to the report “Green Solvents: Technologies, Emerging Opportunities and Markets.” In contrast, the global fossil-derived solvents market is forecast to see just a 1.2% CAGR over the forecast period.
Major players in the industry include: 3M (MMM), Akzo Nobel (AKZOD), Procter & Gamble Co. (PG), Roche (RHHBY) and Solvay (SOLVY).
“Rising concerns about the sustainability and chemical toxicity of solvents, as well as external regulatory pressures, are driving global demand for green solvents,” said BCC Research analyst and report author Jason Chen. “Currently, the main green solvent materials used in the market include bio-based alcohols/diols/triols, fatty acid methyl esters, lactate esters and d-limonene. Custom blends of the biosolvent materials are also often produced for industrial and domestic uses.”
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Green Solvents: Technologies, Emerging Opportunities and Markets( CHM087A )
Publish Date: Jan 2019
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