Global Bio-based Solvent Market 2017-2021

Overview of the global bio-based solvent market

Technavio's market research study has identified the easy availability of biofuels as one of the primary factors that will have a positive impact on the growth of the bio-based solvent market in the coming years. Biofuels are derived from plants or animals and these raw materials are easily available in the market. This offers significant opportunities for the production of biofuel. Moreover, the transportation of biofuels is also much easier than conventional fossil fuels. With the easy availability of biofuels, the demand for bio-based solvents will subsequently increase in the coming years. Moreover, regulations that demand the conversion of feedstock to bio-based solvents will also fuel this market's growth. Bioethanol and its derivatives and vegetable oil products such as biodiesel and glycerol are the major raw materials used as feedstocks for bio-based solvents. Our market research analysts estimate that this market will grow steadily at a CAGR of more than 8% by 2021.

Methyl soyate is a bio-based solvent and is used in numerous applications since they are easy substitutes to conventional chlorinated and hydrocarbon solvents that are hazardous and cause ozone depletion. Soy solvents offer several advantages such as high flash, low VOC, and low toxicity and are also less flammable, highly effective, and easily biodegradable. It is an efficient green solvent and can be used in a number of industrial applications. With the increasing awareness, the demand for soy solvents will considerably increase in the coming years. According to this market research report, the emerging opportunities for soy solvents will be one of the key trends that will gain traction in the bio-based solvent market during the next few years.

Competitive landscape and key vendors

The bio-based solvent market is moderately populated with the presence of several large established vendors and few regional vendors. Bio-based solvent vendors compete intensely based on factors such as operational costs, innovations, price, and product quality. Vendors are focusing extensively on integrating technological innovations and upgrading their financial resources to attain a competitive advantage over the other players in the bio solvents market. Technological innovations, changing consumer preferences, and volatility are the factors that positively impact the growth of the companies in this market.

The leading vendors in the market are

• Archer Daniels Midland Company
• BASF
• Cargill
• The Dow Chemical Company
• Huntsman

The other prominent vendors in the market are CREMER OLEO, Gevo, Liberty Chemicals, Myriant Corporation, and Solvay.

Segmentation by application and analysis of the bio-based solvent market

• Paints and coatings
• Printing inks
• Cleaning products
• Adhesives and sealants

Bio-based solvents are primarily used in paints and coatings and this mainly influenced by the high demand for paints and coatings in the construction and automotive industries. The increasing consumer awareness and environmental concerns is encouraging consumers to manufacture solvents that contain fewer toxins and volatile organic compounds (VOCs). This will in turn, fuel the growth of the bio-based solvents market in this segment.

Geographical segmentation and analysis of the bio-based solvent market

• APAC
• Central and South America
• Europe
• North America
• ROW

The growth of the construction industry will be a major factor fueling the growth of the bi-based solvent market in North America. Additionally, the rising demand for cleaning products, cosmetics, and toiletries and the introduction of regulations on the production and use of bio-based solvents, will offer opportunities for the growth of the bio solvents market in this region. Our research analysts predict that North America will be the major contributor to the bio-based solvent market throughout the next few years.

Key questions answered in the report include

• What will the market size and the growth rate be in 2021?
• What are the key factors driving the global bio-based solvent market?
• What are the key market trends impacting the growth of the global bio-based solvent market?
• What are the challenges to market growth?
• Who are the key vendors in the global bio-based solvent market?
• What are the market opportunities and threats faced by the vendors in the global bio-based solvent market?
• Trending factors influencing the market shares of APAC, Central and South America, Europe, North America, and ROW.
• What are the key outcomes of the five forces analysis of the global bio-based solvent market?

Technavio also offers customization on reports based on specific client requirement.

Technavio collates information across various parameters such as market size, growth rate, product features, and technological advancements from the chemicals and materials industry. The upcoming research report on the global bio-based solvent market provides an extensive analysis of the specialty chemicals sector by covering vendors such as BASF, Huntsman, The Dow Chemical, ADM, and Bioamber.

The research analysts at Technavio gather primary and secondary data from client surveys, research journals, and expert opinions to provide an accurate market landscape which can help the client get a thorough understanding of the market. The upcoming report on the global bio-based solvent market also covers North America, Europe, APAC, and ROW regions to provide a complete geographical segmentation.

The upcoming report on the global bio-based solvent market also considers the growth of related markets such as the emission control catalysts (ECCs) market and acrylonitrile market which are expected to grow at the rate of 10% and 3%, respectively, for the forecast period of 2017 to 2021. The increasing adoption of bio-based solvents due to their biodegradability and recyclability could be one of the reasons to contribute to the growth of this market.

The upcoming research report on the global bio-based solvent market also includes business intelligence parameters such as technological advancements, competition, product innovations, profits, competitive landscape, business users and opportunities and challenges faced by the industry. The report also provides information on the related sectors from chemicals and materials industry such as paints, coatings, and pigments, plastics, polymers, and elastomers, and bio-chemicals and bio-materials.

Our market research methodology for the global bio-based solvent market

Technavio also offers clients the option to customize every report to suit their specific requirements and offers attractive discounts on all upcoming reports and future purchases.