This market research report analyzes the key players in the solvent recycling market such as Clean Planet Chemical, IST Pure, Maratek Environmental, and Veolia. The report also presents a competitive analysis of the market by facility type (on-site solvent recycling and off-site solvent recycling) and by geography (the Americas, APAC, and EMEA).
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Global outlook of the solvent recycling market
Technavio’s market research analysts have predicted that the global solvent recycling market will grow steadily during the forecast period and based on the volume of solvents recycled, will post an impressive CAGR of almost 17% by 2020. According to this industry research report, the economic benefits of solvent use will be one of the major factors that will have a positive impact on the growth of the solvent distillation market in the coming years.
Solvents are mainly used by both industrial and commercial processes for the extraction or purification of streams. The increase in the scale of operations subsequently augments the need for solvents.
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Solvent recycling helps in the removal of harmful contaminants and facilitates the re-use of solvent streams. The safe disposal of contaminants that might cause significant damage to the ecosystem is one of the major issues of the solvent recycling process.
Since these contaminants contain significant quantities of hydrocarbons, the coming years will witness the procurement of these harmful products by the cement industry to combust the cement kilns and achieve relatively high temperatures that are required to carry out the cement manufacturing process. This will add to the economic benefits of the implementation of solvent recycling process and in turn, drive the demand for solvent recycling equipment.
Competitive landscape and key vendors
Owing to the presence of numerous vendors operating at multiple layers, the market appears to be highly fragmented. There are currently two distinct layers to the global solvent recycling market.
The first layer consisting of vendors that cater to the residential and small-scale commercial establishments and the other segment that consists of vendors who cater to the needs of the large-scale commercial and industrial solvent users. The majority of the vendors in the market come under the first category and this segment appears to be far more fragmented than the other.
Since all vendors equally compete to gain a considerable share of the market, the competitive environment in the market is quite intense.
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