Green/Bio-Based Solvents Market overview was valued 2,600 kilo tons, and is expected to reach 3,321 kilo tons by 2020, supported by a CAGR of 4.3%. Green solvents are derived from the agricultural sources, such as corn, sugarcane, lactic acid, refined glycerin, bio succinic acid, soybean oil and similar others.
Green solvents are consumed across wide range of industries such as paints & coatings, printing inks, adhesives & sealants and industrial & domestic cleaning among others. Paints and coatings application segment would continue to lead the global green solvents market throughout the forecast period.
Increasing environmental concerns in conjunction with rising consumer awareness towards eco-friendly products fuels the adoption of green solvent in paints and coating industry.
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Green solvents market has been segmented by type as esters, alcohols, diols & glycols, D-limonene and others.
Furthermore, esters are segmented into lactate esters, methyl esters & others and alcohols, diols & glycols are segmented into solketal, isobutanol and others. The consumption of esters in the overall green solvents market will be highest during 2014-2020 due to its wide application area, comparatively lower price than other green solvents and easy availability.
Competitive Intelligence on prominent manufacturers of green solvents provide key insights in terms of strategies implemented to gain significant share in the green solvents market. Some of the leading manufacturers profiled in this report includes BASF SE, BioAmber Inc., Myriant Corporation, Dow Chemicals, Cargill Incorporated, Gevo Inc., Vertec Bio solvents Inc., Florida Chemicals, Lyondellbasell and E.I du Pont de Numerous and Company, Solvay S.A and Huntsman Corporation.
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In terms of geography, the green solvents market has been segmented into North America, Europe, and Asia Pacific & LAMEA. North America would continue to dominate the market through 2020, due to intense awareness among the consumers for the adoption of green solvents and robust improvement in the U.S.
& Mexican construction industry. However, Asia-Pacific will be the fastest growing market and is expected to grow at a CAGR of 6.2% during 2015-2020.
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