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Bio Solvents Market to Register Substantial Expansion by 2025

Bio Solvents Market to Register Substantial Expansion by 2025
Bio Solvents Market Will Generate New Growth Opportunities by 2025
Solvents are chemical substances that find commercial application across a diverse set of industries.
Solvents are ubiquitous in that several million tons of these are used annually across industries
ranging from paints & coatings, textiles, plastics & rubber, pharmaceuticals, oil & gas, construction,
chemical synthesis, among others. Global solvents market is characterized by dominance of
conventional petroleum feedstock based solvents across aforementioned industries. Such wide-scale
use of these petroleum based solvents is reported to have engendered significant environmental illeffects.
Thus, growing environmental concern, over the past decade, has prompted regulatory authorities to
implement stringent regulations directed towards addressing the menace of such harmful chemical
substances. Bio-based solvents or simply bio-solvents, unlike petroleum based solvents, are
produced using green, environmentally friendly feedstock and hence are carbon neutral, free from
volatile organic compounds (VOCs), non-toxic and sustainable alternatives for application across
industries. The commonly used feedstock for production of these bio-solvents include cellulose,
sugars, oils & fats, agricultural products, among others.
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Global bio-solvents market is expected to witness robust growth during forecast period. Over recent
past, there have been significant advances in development of sustainable bio-solvents that are
efficient and efficacious as compared to petroleum based solvents, moreover, such developments
are expected to gather momentum over the forecast period. This, coupled with increasing adoption
and penetration of these bio-solvents across key end use industries is expected to drive growth of
global bio-solvents market during forecast period.
Also, steady growth of key end use industries such as paints & coatings, industrial cleaning,
agrochemicals, textiles & printing inks, and adhesives & sealants, among others especially across
developing regions of the globe is expected to further propel the market for bio-solvents during
forecast period. However, concerns as regards the effectiveness of these alternative solvents vis-avis comparative grades of petroleum based solvents is one of the factors that is likely to impede the
growth of global bio-solvents market during initial part of forecast period. Also, relatively less
stringent or absence of regulations pertaining to use of sustainable alternatives coupled with lack of
awareness regarding such alternatives is likely to act as an impediment to growth of global biosolvents market during forecast period. Also, relatively higher prices is another factor that is likely
to affect the adoption of bio-solvents in certain parts of the globe during forecast period.
Global bio-solvents market can be divided into seven major segments including North America,
Eastern Europe, Asia Pacific, Japan, Latin America, Western Europe and Middle East and Africa.
Global Bio-solvents Market is dominated by North America and Europe owing, primarily, to
stringent regulations underlining the use of such products. APAC dominates supply of raw materials
used for production of bio-solvents. Adoption of bio-solvents in the region is relatively low,
however, it is expected to register relatively faster growth during forecast period, spearheaded by
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Competition landscape in global bio-solvents market is characterized by presence of companies that
are channelizing efforts towards application-development so also towards improving process
economics and efficiencies. Global Bio-solvents market is characterized by Some of the players
operating in global bio-solvents market include Dow Chemical Company, BASF SE, BioAmber
Inc., Cargill, Incorporated., Stepan Company, Archer Daniels Midland Company, Corbion, Vertec
Bio-solvents & Carbon Neutral, Shenzhen Esuns Industrial Co., Ltd, Huntsman International LLC.,
and Florida Chemical Company, among others.
The research report presents a comprehensive assessment of the market and contains thoughtful
insights, facts, historical data, and statistically supported and industry-validated market data. It also
contains projections using a suitable set of assumptions and methodologies. The research report
provides analysis and information according to categories such as market segments, geographies,
types and applications.
The report is a compilation of first-hand information, qualitative and quantitative assessment by
industry analysts, inputs from industry experts, and industry participants across the value chain. The
report provides an in-depth analysis of parent market trends, macroeconomic indicators and
governing factors, along with market attractiveness within the segments. The report also maps the
qualitative impact of various market factors on market segments and various geographies.
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