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Global Green Solvents Market Size, Price, Trends, Forecast: By Product: Bio-Alcohols, Bio-Glycols, Lactate Esters, D-Limonene, Methyl Soyate, Others; By End Use: Chemical Intermediate, Pharmaceuticals, Printing Inks, Paints and Coatings, Cosmetics and Personal Care, Others; Regional Analysis; Competitive Landscape; 2024-2032
Global Green Solvents Market Outlook
The global green solvents market size reached approximately USD 2.00 billion in 2023. The market is further projected to grow at a CAGR of 7% between 2024 and 2032, reaching a value of USD 3.70 billion by 2032.
Key Trends in the Market
Green solvents, also known as biosolvents are obtained by processing agricultural crops. These solvents are significantly less toxic and hazardous as compared to traditional volatile organic compounds and are available in different types including supercritical fluids and ionic liquids, among others.
- Growing shift towards sustainable products due to rising environment consciousness is fuelling the green solvents market demand. Due to the environment friendly nature of green solvents, manufacturers are using them in their products, in order to make their products more appealing to the environmentally conscious population.
- Application of green solvents is rising across various end use sectors such as paints and coatings, cleaning products, personal care, adhesives, printing inks, and pharmaceutical owing to their versatility. Moreover, the solvents pose no risk to the health of the workers or the environment, making them suitable for a wide range of applications.
- The increased efforts of manufacturers towards development of cost efficient green solvent production methods is aiding the market expansion. Moreover, the production of green solvents with higher solvency power, better compatibility, and lower evaporation rates, among others, is also boosting the product demand.
Global Green Solvents Market Analysis
Based on product, the market is divided into bio-alcohols, bio glycols, lactate esters, D-limonene, and methyl soyate, among others. By end use, the market is categorised into chemical intermediate, pharmaceuticals, printing inks, paints and coatings, and cosmetics and personal care, among others. Based on region, the green solvents market segmentation includes North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.
- The Dow Chemical Company
- Cargill, Incorporated
- Clariant International Ltd.
- Bio Brands LLC
- Archer Daniels Midland Company
- Corbion NV
- CREMER OLEO GmbH & Co. KG
- Vertec BioSolvents Inc.
- Florachem Corp.
- Solvay S.A.
- Stepan Company
- Gemtek Products
- Others
Market Share by Product
Lactate esters account for a significant green solvents market share owing to the rising demand from pharmaceutical, personal care, and industrial solvent application sectors. The utilisation of lactate ester as an alternative to traditional petroleum-based solvents is a major factor supporting the segment growth. Rising demand from paints and coating industries due to the biodegradable, easy to recycle, non-ozone depleting, and non-corrosive nature of lactate ester is further boosting the product demand.
Market Share by Region
North America holds a significant share of the market owing to the growing requirement for eco-friendly alternatives to traditional petroleum-based solvents. Introduction of new government schemes to encourage the replacement and increase the awareness regarding the advantages of green solvents is supporting the green solvents market growth in North America. Presence of key market players such as Cargill Incorporated and Stepan Company, along with increased research and development activities are further aiding the market expansion.
Competitive Landscape
The Dow Chemical Company was founded in 1897 and is headquartered in Michigan, United States. The chemicals company delivers innovative and sustainable solutions for customers in infrastructure, customer care, and packaging industries.
Cargill Incorporated is a private food company that was founded in 1865 and is headquartered in Minnesota, United States. The company is known for processing beef, value-added egg and meats, and poultry products for various food service companies.
Clariant International Ltd. was established in 1995 and has its headquarters located in Liestal, Switzerland. The chemical manufacturing company deals with speciality chemicals, additives, functional minerals, home care, and petrochemicals, among others.
Other green solvents market key players include Bio Brands LLC, Archer Daniels Midland Company, Corbion NV, CREMER OLEO GmbH & Co. KG, Vertec BioSolvents Inc., Florachem Corp., Solvay S.A., Stepan Company, and Gemtek Products, among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Product |
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| Breakup by End Use |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Green Solvents Market Analysis
8.1 Key Industry Highlights
8.2 Global Green Solvents Historical Market (2018-2023)
8.3 Global Green Solvents Market Forecast (2024-2032)
8.4 Global Green Solvents Market by Product
8.4.1 Bio-Alcohols
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Bio-Glycols
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.4.3 Lactate Esters
8.4.3.1 Historical Trend (2018-2023)
8.4.3.2 Forecast Trend (2024-2032)
8.4.4 D-Limonene
8.4.4.1 Historical Trend (2018-2023)
8.4.4.2 Forecast Trend (2024-2032)
8.4.5 Methyl Soyate
8.4.5.1 Historical Trend (2018-2023)
8.4.5.2 Forecast Trend (2024-2032)
8.4.6 Others
8.5 Global Green Solvents Market by End Use
8.5.1 Chemical Intermediate
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Pharmaceuticals
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 Printing Inks
8.5.3.1 Historical Trend (2018-2023)
8.5.3.2 Forecast Trend (2024-2032)
8.5.4 Paints and Coatings
8.5.4.1 Historical Trend (2018-2023)
8.5.4.2 Forecast Trend (2024-2032)
8.5.5 Cosmetics and Personal Care
8.5.5.1 Historical Trend (2018-2023)
8.5.5.2 Forecast Trend (2024-2032)
8.5.6 Others
8.6 Global Green Solvents Market by Region
8.6.1 North America
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Europe
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 Asia Pacific
8.6.3.1 Historical Trend (2018-2023)
8.6.3.2 Forecast Trend (2024-2032)
8.6.4 Latin America
8.6.4.1 Historical Trend (2018-2023)
8.6.4.2 Forecast Trend (2024-2032)
8.6.5 Middle East and Africa
8.6.5.1 Historical Trend (2018-2023)
8.6.5.2 Forecast Trend (2024-2032)
9 North America Green Solvents Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Green Solvents Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Green Solvents Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Green Solvents Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Green Solvents Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 The Dow Chemical Company
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Cargill, Incorporated
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 Clariant International Ltd.
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Bio Brands LLC
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 Archer Daniels Midland Company
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 Corbion NV
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 CREMER OLEO GmbH & Co. KG
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 Vertec BioSolvents Inc.
15.2.8.1 Company Overview
15.2.8.2 Product Portfolio
15.2.8.3 Demographic Reach and Achievements
15.2.8.4 Certifications
15.2.9 Florachem Corp.
15.2.9.1 Company Overview
15.2.9.2 Product Portfolio
15.2.9.3 Demographic Reach and Achievements
15.2.9.4 Certifications
15.2.10 Solvay S.A.
15.2.10.1 Company Overview
15.2.10.2 Product Portfolio
15.2.10.3 Demographic Reach and Achievements
15.2.10.4 Certifications
15.2.11 Stepan Company
15.2.11.1 Company Overview
15.2.11.2 Product Portfolio
15.2.11.3 Demographic Reach and Achievements
15.2.11.4 Certifications
15.2.12 Gemtek Products
15.2.12.1 Company Overview
15.2.12.2 Product Portfolio
15.2.12.3 Demographic Reach and Achievements
15.2.12.4 Certifications
15.2.13 Other
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Green Solvents Market: Key Industry Highlights, 2018 and 2032
2. Global Green Solvents Historical Market: Breakup by Product (USD Billion), 2018-2023
3. Global Green Solvents Market Forecast: Breakup by Product (USD Billion), 2024-2032
4. Global Green Solvents Historical Market: Breakup by End Use (USD Billion), 2018-2023
5. Global Green Solvents Market Forecast: Breakup by End Use (USD Billion), 2024-2032
6. Global Green Solvents Historical Market: Breakup by Region (USD Billion), 2018-2023
7. Global Green Solvents Market Forecast: Breakup by Region (USD Billion), 2024-2032
8. North America Green Solvents Historical Market: Breakup by Country (USD Billion), 2018-2023
9. North America Green Solvents Market Forecast: Breakup by Country (USD Billion), 2024-2032
10. Europe Green Solvents Historical Market: Breakup by Country (USD Billion), 2018-2023
11. Europe Green Solvents Market Forecast: Breakup by Country (USD Billion), 2024-2032
12. Asia Pacific Green Solvents Historical Market: Breakup by Country (USD Billion), 2018-2023
13. Asia Pacific Green Solvents Market Forecast: Breakup by Country (USD Billion), 2024-2032
14. Latin America Green Solvents Historical Market: Breakup by Country (USD Billion), 2018-2023
15. Latin America Green Solvents Market Forecast: Breakup by Country (USD Billion), 2024-2032
16. Middle East and Africa Green Solvents Historical Market: Breakup by Country (USD Billion), 2018-2023
17. Middle East and Africa Green Solvents Market Forecast: Breakup by Country (USD Billion), 2024-2032
18. Global Green Solvents Market Structure
Key Questions Answered in the Report
The market reached a value of approximately USD 2.00 billion in 2023.
The market is projected to grow at a CAGR of 7% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 3.70 billion by 2032.
The major market drivers include development of cost-effective production methods and increasing government initiatives to boost the utilisation of product.
The key trends fuelling the growth of the market include rising applications in various end use industries and increased adoption of eco-friendly products due to growing environmental consciousness.
The major regions in the market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The significant products available in the market are bio-alcohols, bio-glycols, lactate esters, D-limonene, and methyl soyate, among others.
The key players in the market are The Dow Chemical Company, Cargill, Incorporated, Clariant International Ltd., Bio Brands LLC, Archer Daniels Midland Company, Corbion NV, CREMER OLEO GmbH & Co. KG, Vertec BioSolvents Inc., Florachem Corp., Solvay S.A., Stepan Company, and Gemtek Products, among others.
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