Technavio’s solvent recycling market report has predicted that the market will grow steadily during the forecast period and based on the volume of solvents recycled, will post an impressive CAGR of almost 17% by 2020. According to the solvent recycling market research report, the economic benefits of solvent use will be one of the major factors that will have a positive impact on the growth of the solvent distillation market in the coming years. Solvents are mainly used by both industrial and commercial processes for the extraction or purification of streams. The increase in the scale of operations subsequently augments the need for solvents. In addition to several environmental, economic, and social benefits, recycling solvents also substantially reduces operational costs. This will lead to the constant demand for solvent recycling from the commercial and residential sectors in the next few years.
Solvent recycling helps in the removal of harmful contaminants and facilitates the re-use of solvent streams. The safe disposal of contaminants that might cause significant damage to the ecosystem is one of the major issues of the solvent recycling process. Since these contaminants contain significant quantities of hydrocarbons, the coming years will witness the procurement of these harmful products by the cement industry to combust the cement kilns and achieve relatively high temperatures that are required to carry out the cement manufacturing process. This will add to the economic benefits of the implementation of solvent recycling process and in turn, drive the demand for solvent recycling equipment.
What's your takeaway?
Technavio's industry research report on the global solvent recycling market 2016-2020 help you-
Identify latent opportunities and explorative solutions in the global solvent recycling market: research report
Identify your key competition, and what's making them tick?
Help you build a comprehensive marketing plan, applicable across 50+ countries
Owing to the presence of numerous vendors operating at multiple layers, the market appears to be highly fragmented. There are currently two distinct layers to the global solvent recycling market. The first layer consisting of vendors that cater to the residential and small-scale commercial establishments and the other segment that consists of vendors who cater to the needs of the large-scale commercial and industrial solvent users. The majority of the vendors in the market come under the first category and this segment appears to be far more fragmented than the other. Since all vendors equally compete to gain a considerable share of the market, the competitive environment in the market is quite intense.
The leading vendors in the market are -
Clean Planet Chemical
The other prominent vendors in the market are CBG Technologies, CycleSolv, and Tradebe.
Segmentation by facility type and analysis of the solvent recycling market
On-site solvent recycling
Off-site solvent recycling
Accounting for almost 52% of the total shares, the off-site solvent recycling market dominated the industry during 2015. This market segment mainly targets the residential and small-scale solvent consumers and the facility is set-up by the vendors without much collaboration with the waste solvent stream producers. Analysts estimate that the off-site solvent recovery process segment will grow steadily during the next four years at a CAGR of almost 22%.
Geographical segmentation and analysis of the solvent recycling market
According to this market study, the Americas will account for about 45% of the total share of the market by 2020 and also dominate the solvent recycling market throughout the forecasted period. Much of this region’s growth can be attributed to the strong focus of countries toward the creation of an environmentally sustainable industrial framework. Moreover, the focus of the Environmental Protection Agency towards the introduction of stringent solvent disposal methods will also drive the demand for solvent recycling machines in this region.
Key questions answered in the report include
What will the market size and the growth rate be in 2020?
What are the key factors driving the global solvent recycling market?
What are the key market trends impacting the growth of the global solvent recycling market?
What are the challenges to market growth?
Who are the key vendors in the global solvent recycling market?
What are the market opportunities and threats faced by the vendors in the global solvent recycling market?
Trending factors influencing the market shares of the Americas, APAC, and EMEA.
What are the key outcomes of the five forces analysis of the global solvent recycling market?
Technavio also offers customization on reports based on specific client requirement.