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Bio Solvents Market - Global Industry Analysis, Forecast 2016 – 2024

The global bio solvents market is primarily driven by volatile petrochemical prices associated with growing health concerns due to VOC presence in conventional solvents. In addition, stringent regulations by DEFRA, EPA and REACH with respect to tox
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Bio Solvents Market - Global Industry
Analysis, Size, Share, Growth, Trends
and Forecast 2016 - 2024
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Transparency Market Research Reports incorporated a definite business overview and investigation inclines on “Bio Solvents
Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024” This report likewise
incorporates more illumination about fundamental review of the business including definitions, requisitions and worldwide
business sector industry structure.
Bio Solvents Market: Drivers and Trends Snapshot
The global bio solvents market is primarily driven by volatile petrochemical prices associated with growing health concerns due
to VOC presence in conventional solvents. In addition, stringent regulations by DEFRA, EPA and REACH with respect to toxicity
content in conventional solvents have fueled the growth of bio solvents. This trend is projected to have a positive impact on the
global market growth over the next six years. Further, increasing penetration of bio solvents in coatings, paints, sealants and
adhesives and printing inks is projected to have a positive impact on the growth of bio solvent market.
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Furthermore, increasing spending on construction coupled with positive outlook of the automotive industry specifically in
emerging markets of Asia Pacific and Latin America due to growing industrialization and urbanization rates are expected to drive
demand for paints and coatings. Growing demand for paints and coatings is expected to further boost the global bio solvents
market growth. In addition, increasing consciousness regarding harmful effects of conventional solvents in personal care and
pharmaceutical products is expected to further drive bio solvents demand in the respective applications.
Understanding the market demand, manufacturers are focusing on increasing investment on R&D to increase bio solvents
application scope in cosmetics and pharmaceutical applications. High production costs combined with bio solvents is expected
to remain a key challenge for industry participants. New product innovation and advancements in production technologies are
expected to counter such challenges during the forecast period.
Bio Solvents Market: Segmentation
Global bio solvents market is segmented into product type, application type and geography. Based on product type the market is
segmented into soy methyl esters, glycols, lactate esters, and alcohol among others such as polyhydroxyalkanoates, d-limonene
and diols. On the basis of application, bio solvents market is segmented into paints & coatings, printing inks, adhesives and
sealants among other niche applications such as cosmetics and pharmaceuticals. The major product segment lactate ester
accounted for just below one-third of total market in terms of volume in 2013. Increasing lactate ester solvents demand in
printing inks, coatings and industrial applications is projected to drive the market growth during the forecast period.
Furthermore, glycol solvents are expected to grow with highest growth rate due to its increasing penetration in paints and
printing inks, industrial coatings and automotive coatings industries. Its high blush resistance and slow evaporation rate are
driving its demand over other solvents in the respective applications. Apart from this, increasing spending on construction in
different emerging markets such as India, China, Brazil and Mexico on account of rapid urbanization and industrialization rates is
expected to remain a major driving factor for the application segment.
Changing trends towards using eco-friendly paints coupled with growing industries of construction is expected to drive bio
solvents demand. Paints & coatings application segment emerged as the largest segment accounting for a major chunk in the
global market. Growing paints & coatings demand in automotive and construction industries has been a key factor driving bio
solvents demand. Sealants and adhesives are expected to experience the highest growth rate during the forecast period.
Bio Solvents Market: Region-wise Insight
North America dominated the bio solvents market and accounted for over one-third of total market in terms of volume in 2013.
High level of consciousness regarding environmental and health effects due to usage of conventional solvents and stringent
environmental regulations have prompted the shift towards developing bio solvents. Asia Pacific is expected to register
significant growth rate due to growing automotive and construction industries. In addition, rapid industrialization in emerging
markets of India and China are expected to drive adhesives and sealants demand. Furthermore, growing concerns regarding
degradability of conventional solvents is expected to further drive the Asia Pacific market growth.
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Bio Solvents Market: Key Players
Some of the key players operating in the bio solvents market are The Dow Chemical Co., E.I. du Pont de Nemours &
Co.,AkzoNobel N.V., BASF SE, Cargill Inc., LyondellBasell, Vertec Biosolvents, BioAmber, Myriant Corp., Huntsman Corp., Florida
Chemical Company, Inc.
The report offers a comprehensive evaluation of the market. It does so via in-depth insights, understanding market evolution by
tracking historical developments, and analyzing the present scenario and future projections based on optimistic and likely
scenarios. Each research report serves as a repository of analysis and information for every facet of the market, including but
not limited to: Regional markets, technology developments, types, applications, and the competitive landscape.
The study is a source of reliable data on:
Key market segments and sub-segments
Evolving market trends and dynamics
Changing supply and demand scenarios
Quantifying market opportunities through market sizing and market forecasting
Tracking current trends/opportunities/challenges
Competitive insights
Opportunity mapping in terms of technological breakthroughs
The regional analysis covers:
North America (U.S. and Canada)
Latin America (Mexico, Brazil, Peru, Chile, and others)
Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, Luxembourg)
Eastern Europe (Poland, Russia)
Asia Pacific (China, India, Japan, ASEAN, Australia and New Zealand)
Middle East and Africa (GCC, Southern Africa, North Africa)
TMR estimates the market size of various sectors using a combination of available data on the number and revenue of
companies within each sub-sector and tiers of companies. The basic components used to determine market size and forecast for
a specific product area are not only limited to supply-side data, but are also related to demand, industry trends, and the
economic outlook. All the above data points are utilized to generate a statistical model targeting the sector marketplace. More
than 300 TMR analysts across the world integrate these elements into a framework to determine the subsector market size for a
base year and then forecast growth within each market.
TMR regularly interviews technology and business professionals as an ongoing effort to track the latest developments within
each sector. These continuous surveys are stratified by company size and industry segment and weighted to reflect the global
market place. All data are collected on an ongoing effort through a structured questionnaire rolled over the web or conducted
via telephones. This provides the TMR team opportunities to request for detailed question sets, complex skip patterns, and realtime calculations, which assists respondents in answering questions involving numbers and percentages. Respondents, who are
interviewed as experts, are screened and qualified based on certain criteria in addition to their decision-making authority and
the scope of activity within their organizations.
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