IMARC Group, a leading market research company, has released a report titled “Green and Bio-Solvents Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“. offers a comprehensive analysis of the industry, which comprises insights on the global green and bio-solvents market share. The global market size reached US$ 12.0 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 19.4 Billion by 2028, exhibiting a growth rate (CAGR) of 8.1% during 2023-2028.

Green and bio-solvents are a vital component in various industries, offering environmentally friendly alternatives to traditional solvents. These solvents, primarily derived from renewable resources such as plant-based materials and agricultural by-products, are characterized by their low toxicity, reduced environmental impact, and sustainability. They play a pivotal role in sectors ranging from chemicals and pharmaceuticals to paints and coatings. Green and bio-solvents are engineered to replace conventional, often harmful solvents derived from petroleum or other non-renewable sources. These eco-conscious alternatives are gaining prominence due to their ability to address environmental concerns, comply with stringent regulations, and align with corporate sustainability goals.

For an in-depth analysis, you can refer sample copy of the report:

Green and Bio-Solvents Market Trends and Drivers:

The market is experiencing a significant upswing, driven by the growing awareness and commitment to sustainability across industries. Businesses, recognizing the need to reduce their carbon footprint and adhere to stringent environmental regulations, are shifting toward these eco-friendly solutions. This shift is merely driven by ethical considerations and also seen as a strategic move to secure a competitive edge in a world increasingly focused on sustainable practices. Moreover, the rising cost and volatility of petroleum-based solvents have made green and bio-solvents an economically viable alternative. Businesses are finding that investing in these sustainable solvents can lead to cost savings in the long run, as they reduce dependence on fossil fuels and minimize the risks associated with price fluctuations. This cost-effectiveness is appealing to companies seeking stable and predictable supply chains. Another noteworthy trend is the increasing focus on product innovation within the green and bio-solvents market. Research and development efforts are yielding solvents with improved performance characteristics, making them more versatile and attractive to a broader range of industries. This innovation includes enhancing the solvents’ compatibility with existing processes and materials, ensuring a seamless transition for businesses adopting these alternatives. Furthermore, government initiatives and regulations are playing a pivotal role in shaping the market landscape. Many governments around the world are enacting stringent environmental regulations, mandating the use of eco-friendly solvents in various applications. This regulatory push is creating a compelling business case for companies to invest in green and bio-solvents to ensure compliance and avoid potential penalties. Additionally, governments are offering incentives and support to businesses that embrace sustainable practices, further incentivizing the adoption of green and bio-solvents.

Report Segmentation:

The report has segmented the market into the following categories:

Breakup by Type:

  • Lactate Esters
  • Methyl Soyate Solvents
  • Bio-Alcohols, Bio-Diols and Bio-Glycols
  • D-Limonene
  • Others

Breakup by Application:

  • Paints and Coatings
  • Printing Inks
  • Cleaning Products
  • Adhesives and Sealants
  • Others

Market Breakup by Region:

  • North America (United States, Canada)
  • Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
  • Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
  • Latin America (Brazil, Mexico, Others)
  • Middle East and Africa

Competitive Landscape with Key Player:

  • Archer Daniels Midland Company
  • Cargill
  • Incorporated
  • Dow Inc.
  • Elevance Renewable Sciences Inc.
  • Florachem Corporation
  • Huntsman Corporation
  • LyondellBasell Industries N.V.
  • Vertec Biosolvents Inc.

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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