The report "Green and Bio-Solvents Market by Type (Alcohols, Glycols, Diols, Lactate Esters, D-Limonene, Methyl Soyate & Others), & by Application (Industrial & Domestic Cleaners, Paints & Coatings, Adhesives, Printing Inks & Others) - Global Forecast to 2020", published by MarketsandMarkets, The Green & Bio-Solvents Market is projected to reach USD 8.17 billion by 2020, at a CAGR of 7.94% between 2015 and 2020.
Environmental & regulatory pressure to drive the green & bio-solvents market
The drivers identified for the green & bio-solvents market are environmental & regulatory pressure designed to reduce the emissions of ODS, VOCs, and HAPs; reduced dependency on petrochemical solvents and the exporting countries; improved competitiveness from product differentiation; and uncertainty about oil price development. Countries such as China, the U.S., and Brazil are the major markets of green & bio-solvents. The market in countries of Middle East and Africa are also growing. In developed countries such as the U.S., Spain, Germany, Japan, and Italy, the market is growing at a low-to-moderate rate.
North America to be the key market for Green & Bio-Solvents
North America is the largest market for green & bio-solvents, both in terms of volume and value, followed by Europe and Asia-Pacific. The key players in this market are Archer Daniels Midland Company (U.S.), BASF SE (Germany), BioAmber Inc. (U.S.), Huntsman Corporation (U.S.), E.I. Du Pont de Nemours & Co. (U.S.), The Dow Chemical Company (U.S.), Vertec Biosolvents Inc. (U.S.), Florida Chemical Company (U.S.), Cargill Incorporated (U.S.), and Cremer Oleo GmbH & Co. KG (Germany), among others.
The green & bio-solvents market, in terms of value and volume, is estimated by considering the current and future estimation according to the economic and industrial outlook. This analysis also covers important developments, expansions, partnerships & agreements, and mergers & acquisitions of the leading global companies.
The market size, in terms of value, of green & bio-solvents is estimated to be about USD 5.58 billion in 2015 and is projected to reach USD 8.17 billion by 2020, at a CAGR of 7.94% between 2015 and 2020.
Asphalt paving and roofing shingles to be the key application areas
The opportunities for the green & bio-solvents industry are asphalt paving and roofing shingles, extracting bitumen, and heavy oil from Canadian Tar Sands, and petroleum solvent replacement in key applications.
/www.marketsandmarkets.com
