Sarasota, FL, Sept. 22, 2017 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Bio-Solvents Market (Alcohols, Glycols, Diols, Lactate Esters, D-Limonene, Methyl Soyate & Others) for Industrial & Domestic Cleaners, Paints & Coatings, Adhesives, Printing Inks & Other Applications - Global Industry Perspective, Comprehensive Analysis and Forecast, 2016 – 2022” . According to the report, global bio-solvents market was valued at USD 6.01 billion in 2016, is expected to reach USD 9.43 billion in 2022 and is anticipated to grow at a CAGR of 7.8% between 2017 and 2022.
Bio-Solvents are plant-based products used in a variety of industries and applications. The global bio-solvents market has been witnessing robust growth over the past few years. Eco-friendly nature, low volatile organic compound emission and high adoption rate and demand from end-user industries and strict environmental regulations are anticipated to boost the market in coming years. Furthermore, the pace of consumption of bio-solvents in industrial & the domestic cleaning industry is expected to be highest during the forecast period. This is due to increasing concerns of health and hygiene among consumers.
Browse through 23 Market Tables and 28 Figures spread through 110 Pages and in-depth TOC on "Global Bio-Solvents Market: By Industry Type, Application, Size, Growth Drivers, Segments and Forecast 2016 – 2022”.
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Bio-solvents are consumed across an extensive range of industries such as industrial & domestic cleaners, paints & coatings, adhesives, and printing inks among others. In 2016, the paints and coatings dominated the bio solvents market and accounted for around 40% of the market share. Paints and coatings application segment is expected to lead the global bio-solvents market within the forecast period. Rising concerns about the environment have forced paints and coatings manufacturers to shift toward solvents that contain low VOC content.
The bio-solvents market has been segmented by type as solvent alcohols, glycols, diols, lactate esters, d-limonene, methyl soyate & others. The consumption of lactate esters in the overall bio-solvents market is expected to be higher in the near future due to its wide application area, comparatively lower price than other bio-solvents and easy availability. Methyl soyate is another major type segment in the market, likely to witness significant revenue growth of around 11% within the forecast period. This growth can be attributed to the increasing demand for methyl soyate as the solvent for industrial equipment, automotive, engine applications and others.
Browse the full " Bio-Solvents Market (Alcohols, Glycols, Diols, Lactate Esters, D-Limonene, Methyl Soyate & Others) for Industrial & Domestic Cleaners, Paints & Coatings, Adhesives, Printing Inks & Other Applications - Global Industry Perspective, Comprehensive Analysis and Forecast, 2016 – 2022 " report at https://www.zionmarketresearch.com/report/bio...nts-market
Bio-solvents are gradually replacing conventional solvents owing to its unique properties like lower environmental impact, low toxicity, and low solubility in water, are easily biodegradable under environmental conditions and are easy to recycle. In 2016, North America contributed the largest revenue share in the global bio-solvents market. The region is mainly backed by the U.S. having a strong a penetration of bio-solvents. High level of awareness regarding health and environmental effects of conventional solvents plays a crucial role in the North American market. Moreover, increasing construction expenditure by the U.S. government to improve public infrastructure in the region is expected to fuel paints & coatings demand, which in turn is expected to have a positive impact on the bio-solvents market within the forecast period. However, recovery of the U.S. automotive industry after a recession is also expected to boost the bio-solvents market in this region.
Europe was one of the largest markets in the bio-solvents market. Stringent environmental regulations and improving the economic situation and construction industry lead to significant market share in the forecast period. Europe is expected to register a moderate growth in the forecast period.
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Asia Pacific is poised to register robust growth, offering significant investment and growth opportunities for manufacturers in the coming years. The market bio-solvent in the region is mainly driven by the perpetually growing demand from India and China. These emerging markets uphold huge growth potential given the government policies that promote the adoption of bio-solvents over conventional solvents. In addition, increasing disposable income, more consumer goods consumption, government initiatives and growing construction activities are expected to propel the market growth.
The market for bio-solvents in Latin America is expected to prosper on account of favorable government initiatives. The Middle East and Africa represent a region with a huge potential for bio-solvents in near future. Improving economic activity expected to boost the bio-solvents market in the region.
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The global bio-solvents market is very competitive and fragmented by the presence of many small and big players. Key players profiled in the report include Archer Daniels Midland Company, BASF SE, Bioamber Inc, Huntsman Corporation, Dupont, DOW Chemical Company, Vertec Biosolvents Inc, Florida Chemicals Company Inc , Cargill Inc, Solvay, LyondellBasell, Gevo, Galactic, Myriant, and Pinova Holdings INC among others.
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The report segments the global bio-solvents market as:
Global Bio-Solvents Market: Type Analysis
- Alcohols
- Glycols
- Diols
- Lactate Esters
- D-Limonene
- Methyl Soyate
- Others
Global Bio-Solvents Market: Application Analysis
- Industrial & Domestic Cleaners
- Paints & Coatings
- Adhesives
- Printing Inks
- Others
Global Bio-Solvents Market: Regional Analysis
- North America
- U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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