Green and Bio Solvents Market by Application, Product, and Geography - Forecast and Analysis 2023-2027

Published: Feb 2023 Pages: 182 SKU: IRTNTR70950

Green and Bio Solvent Market Forecast 2024-2028

The green and bio solvent market size is forecast to increase by USD 7.29 billion, at a CAGR of 10.13% between 2023 and 2028. Market growth hinges on various factors, notably the rising adoption of green and bio solvents across multiple end-user industries. This trend is driven by increasing demand for environmentally friendly products, particularly in emerging economies. Moreover, favorable government regulations further stimulate the green & bio-based solvents market by incentivizing the use of green and bio solvents. These regulations encourage businesses to prioritize sustainability and environmental responsibility, thus boosting the demand for eco-friendly alternatives. As companies seek to align with these regulations and meet consumer preferences for greener products, the market for green and bio solvents is expected to experience continued growth in the foreseeable future. Our report examines historic data from 2018-2022, besides analyzing the current market scenario.

What will be the  Market Size During the Forecast Period?

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Market Definition 

Green and bio-solvents are derived from agricultural sources, including corn, sugar cane, refined glycerin, soybean oil, lactic acid, bio-succinic acid, and other similar products. These solvents release fewer VOCs, are environmentally friendly, and are less toxic than conventional petroleum-based solvents.

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Market Dynamics

The market is witnessing a surge in demand due to growing environmental concerns and stringent environmental regulations. These solvents, derived from vegetable-sourced and bio-based materials such as soybean oil and citrus feedstock, offer a sustainable alternative to traditional VOCs found in agrochemicals, medications, and cosmetics. They are extensively used in household cleaning products, sanitizers, and detergents. With a focus on environmental sustainability, manufacturers are investing in bio-alcohol and bio-based products to reduce reliance on mineral spirits and other petroleum-derived solvents. However, challenges persist due to the complex production process and raw material availability, albeit the market anticipates steady growth fueled by increasing adoption across industries like pharmaceuticals and the packaging industry. Our researchers analyzed the market research and growth data with 2023  as the base year, along with the key market growth analysis, trends, and challenges. A holistic analysis of drivers, trends, and challenges will help companies refine their marketing strategies to gain a competitive advantage. 

Key Market Driver

Increasing demand for environment-friendly products from emerging economies is the key factor driving the market. The market is experiencing robust growth in emerging economies like India, China, Brazil, Russia, and Indonesia. Manufacturers are relocating their production facilities to these countries due to factors such as land availability, cost-effective labor, reduced transportation expenses, and supportive government policies promoting bio-solvent usage. Rising disposable incomes and purchasing power in APAC, South America, and MEA are driving increased investments in automotive, food and beverage, textile, and packaging industries. 

Additionally, countries like India, Russia, China, Brazil, and Indonesia are expected to see further GDP growth, fueled by expansion in their manufacturing sectors. Further, green chemical manufacturers like Cargill Inc. can seize considerable opportunities in emerging markets such as India, Japan, South Africa, and Brazil. These economies exhibit heightened spending on pharmaceuticals, automobiles, electronics, and consumer goods, indicating significant growth potential for the market during the forecast period.

Significant Market Trends 

An increase in new product launches by companies is the primary trend shaping the market. The market is fragmented in nature, with various international and domestic companies operating in the green & bio-based solvents market. These market players offer green and bio-solvent products, backed by several new product launches and innovations in the market to attract more customers and increase their visibility in the market. For instance, in November 2022, Huntsman International LLC announced the launch of the ACOUSTIFLEX VEF BIO system, a bio-based viscoelastic foam technology, which contains up to 20% bio-based content derived from vegetable oils and is meant for molded acoustic applications in the automotive industry.

Similarly, in September 2023, BASF SE announced the launch of bio-based 2-Octyl Acrylate for adhesive formulations or coatings applications. The launch of the product is in line with the expansion of the company's sustainable portfolio. Thus, the increasing number of new product launches is expected to drive the growth of the market during the forecast period.

Major Challenge

The ongoing slowdown in the Chinese economy is the major challenge that affects market growth. China contributes significantly to the global demand due to the strong industrial manufacturing base and activities in the country. High economic growth in the recent past has made China one of the largest producers and markets for industrial cleaners, paints and coatings, adhesives, printing inks, and pharmaceuticals, among others. Thus, China is one of the major countries that account for the high demand in the above-mentioned applications.

However, the ongoing economic slowdown and the risk of a further slowdown in the Chinese economy can severely impact global demand during the forecast period. Moreover, China's manufacturing and industrial sector again observed a slowdown in May 2023. The slow growth in China's GDP is expected to decrease the demand for green and bio solvents among end-user industries, which, in turn, will negatively impact the growth of the market during the forecast period, as the country is a significant revenue contributor to the market.

Segmentation by Product, Application, and Geography 

The market is experiencing rapid growth driven by rising environmental awareness and regulations regarding VOCs (volatile organic compounds). Derived from vegetable-sourced solvents like refined glycerin, triethanolamine, and bio succinic acid, these solvents offer eco-friendly alternatives to conventional chemicals like diethanolamine and polyethylene glycols. With a focus on sustainability, industries, especially pharmaceutical, are increasingly adopting these raw materials. However, challenges persist in ensuring availability and scalability of bio-based solvents in the market.

Product Analysis 

The market share growth by the lactate esters segment will be significant during the forecast years. Lactate esters are premium solvents that can be used as bio-based and non-toxic replacements for potentially unsafe synthetic solvents. Moreover, green organic solvents such as lactate esters have broad industrial applications in paints, coatings, and adhesives, among others. There is an increased need as esters for painting and coating wood, polystyrene, and metals to provide a non-corrosive effect. Moreover, lactate esters act as a replacement for solvents such as toluene, acetone, and xylene, resulting in a much safer workplace in the paints and coatings industry.

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The lactate esters segment accounted for USD 3.48 billion in 2018. Furthermore, other applications of lactate esters include being an effective cleaner in the polyurethane industry, as they have high solvency power. It can be used to clean a variety of metal surfaces and remove greases, oils, adhesives, and solid fuels effectively. Such factors will increase demand for esters during the forecast period. Furthermore, the emphasis on reducing the use of petroleum-based products is positively propelling the growth of the lactate esters segment, which, in turn, will propel the growth of the market during the forecast period.

Application Analysis 

The paints and coatings?segment will account for the largest share of this segment.?Solvents derived from sugarcane and natural or synthetic polymers, are gaining traction as eco-friendly alternatives to petroleum-based products in the automotive industry. Ethyl lactate, with its low vapor pressure and high boiling point, is a preferred choice for painting metal and polystyrene surfaces. Bio-ketones like bio polyether ether ketone (PEEK) serve as lightweight substitutes for metals in automotive manufacturing, particularly in countries like China and India. Companies like BASF SE and Solvay SA are ramping up production to meet rising demand, thereby driving market growth during the forecast period. 

Region Analysis

North America is estimated to contribute 38% to the growth of the global market during the projection period.
Technavio's analysts have provided extensive insight into the market forecasting, detailing the regional trends and drivers influencing the market's trajectory throughout the projection period.

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With the increasing demand for eco-friendly paints and coating, adhesives, and sealants, the demand for green and bio solvents is rising in the region. Advances in technology in the bio-based solvent industry, along with significant investments by companies, will boost product sales in North America. As a result, the use of green and bio solvents in industries such as automotive, chemicals, and construction is increasing significantly, contributing to the rise in demand in North America during the forecast period.

Additionally, the US is a leading adopter in North America. Furthermore, various councils collaborate to introduce processes to decrease the harmful effects of synthetic chemicals on the environment. Also, the use of green and bio solvents is increasing in the production of intermediate chemicals. This will drive market growth during the forecast period in the US.

Key Companies

Companies are implementing various market growth and forecasting strategies by analyzing factors such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product or service launches, to enhance their presence in the market.

  • Archer Daniels Midland Co.: The company offers green and bio solvents thats are used in household cleaners, personal products and fragrances.

The report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including: 

alteqo bv, Astrobio, BASF SE, Braskem SA, Cargill Inc., Circa Group AS, Corbion NV, CREMER OLEO GmbH and Co. KG, DuPont de Nemours Inc., Gevo Inc., GFBio, Huntsman International LLC, India Glycols Ltd., Roquette Freres SA, SEKAB Biofuels and Chemicals AB, Solvay SA, Stepan Co., Vertec Biosolvents Inc., and Somaiya Group

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Segment Overview

The market report predicts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018-2028. 

  • Product Outlook 
    • Lactate esters
    • Methyl soyate solvents
    • Alcohols
    • D-limonene
    • Others
  • Application Outlook
    • Paints and coatings
    • Printing inks
    • Cleaning products
    • Adhesives and sealants
    • Others
  • Region Outlook 
    • North America
      • The U.S.
      • Canada
    • Europe
      • U.K.
      • Germany
      • France
      • Rest of Europe
    • APAC
      • China
      • India
    • South America
      • Chile
      • Argentina
      • Brazil
    • Middle East & Africa
      • Saudi Arabia
      • South Africa
      • Rest of the Middle East & Africa

Market Analyst Overview:

The green & bio-based solvents market is witnessing remarkable growth driven by a global push to decarbonize economy and reduce environmental impact. Key solvents like ethanol, methanol, and 2-propanol are gaining traction in various industries including pharmaceuticals, construction projects, and printing ink manufacturing. These solvents, derived from plant-based products and renewable sources such as sugars and glycerol, align with sustainability goals. Initiatives like the Eco-Product Certification Scheme (ECS) and programs like the SNAP program reinforce the shift towards eco-friendly alternatives. Additionally, their applications in industrial and domestic cleaners, personal hygiene, and drug formulations underscore their versatility and importance in creating a greener future.

Additionally, the market is witnessing rapid expansion, driven by a growing emphasis on sustainability and environmental consciousness. Ethyl acetate, isopropyl acetate, and methyl ethyl ketone are gaining prominence as eco-friendly alternatives to traditional solvents derived from petroleum and natural gas. Industries ranging from detergent and domestic cleaners to packaging and pharmaceuticals are increasingly adopting these bio-based solvents to reduce their carbon footprint. Moreover, 1-butanol and tert-butanol are emerging as viable options, offering improved performance without compromising environmental integrity. As the demand for green solutions rises, manufacturers in sectors like industrial cleaning agents and paints/coatings are embracing Glycol ethers and ester solvents to meet stringent environmental regulations and consumer preferences.

Market Scope

Report Coverage

Details

Page number

189

Base year

2023

Historic period

2018-2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 10.13%

Market Growth 2024-2028

USD 7.29 billion

Market structure

Fragmented

YoY growth 2023-2024(%)

9.61

Regional analysis

North America, Europe, APAC, South America, and Middle East and Africa

Performing market contribution

North America at 38%

Key countries

US, Canada, China, Germany, and UK

Competitive landscape

 Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks

Key companies profiled

alteqo bv, Archer Daniels Midland Co., Astrobio, BASF SE, Braskem SA, Cargill Inc., Circa Group AS, Corbion NV, CREMER OLEO GmbH and Co. KG, DuPont de Nemours Inc., Gevo Inc., GFBio, Huntsman International LLC, India Glycols Ltd., Roquette Freres SA, SEKAB Biofuels and Chemicals AB, Solvay SA, Stepan Co., Vertec Biosolvents Inc., and Somaiya Group

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Market Research Report?

  • CAGR of the market forecast during the forecast period
  • Detailed information on factors that will drive the growth of the market between 2024 and 2028
  • Precise estimation of the market size and its contribution to the market in focus on the parent market
  • Accurate predictions about upcoming trends and changes in consumer behavior
  • Growth of the market across North America, Europe, APAC, South America, and Middle East and Africa
  • Thorough market analysis and report of the market’s competitive landscape and detailed information about companies
  • Comprehensive analysis of factors that will challenge the growth of market companies

We can help! Our analysts can customize this market research report to meet your requirements. Get in touch

1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by Application
    • Exhibit 06: Executive Summary – Chart on Market Segmentation by Product
    • Exhibit 07: Executive Summary – Chart on Incremental Growth
    • Exhibit 08: Executive Summary – Data Table on Incremental Growth
    • Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 10: Parent market
    • Exhibit 11: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 12: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 13: Market segments
  • 3.3 Market size 2022
    • 3.4 Market outlook: Forecast for 2022-2027
      • Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
      • Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
      • Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
      • Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

    4 Historic Market Size

    • 4.1 Global green and bio solvents market 2017 - 2021
      • Exhibit 18: Historic Market Size – Data Table on Global green and bio solvents market 2017 - 2021 ($ million)
    • 4.2 Application Segment Analysis 2017 - 2021
      • Exhibit 19: Historic Market Size – Application Segment 2017 - 2021 ($ million)
    • 4.3 Product Segment Analysis 2017 - 2021
      • Exhibit 20: Historic Market Size – Product Segment 2017 - 2021 ($ million)
    • 4.4 Geography Segment Analysis 2017 - 2021
      • Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million)
    • 4.5 Country Segment Analysis 2017 - 2021
      • Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)

    5 Five Forces Analysis

    • 5.1 Five forces summary
      • Exhibit 23: Five forces analysis - Comparison between 2022 and 2027
    • 5.2 Bargaining power of buyers
      • Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027
    • 5.3 Bargaining power of suppliers
      • Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027
    • 5.4 Threat of new entrants
      • Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027
    • 5.5 Threat of substitutes
      • Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027
    • 5.6 Threat of rivalry
      • Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027
    • 5.7 Market condition
      • Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

    6 Market Segmentation by Application

    • 6.1 Market segments
      • Exhibit 30: Chart on Application - Market share 2022-2027 (%)
      • Exhibit 31: Data Table on Application - Market share 2022-2027 (%)
    • 6.2 Comparison by Application
      • Exhibit 32: Chart on Comparison by Application
      • Exhibit 33: Data Table on Comparison by Application
    • 6.3 Paints and coatings - Market size and forecast 2022-2027
      • Exhibit 34: Chart on Paints and coatings - Market size and forecast 2022-2027 ($ million)
      • Exhibit 35: Data Table on Paints and coatings - Market size and forecast 2022-2027 ($ million)
      • Exhibit 36: Chart on Paints and coatings - Year-over-year growth 2022-2027 (%)
      • Exhibit 37: Data Table on Paints and coatings - Year-over-year growth 2022-2027 (%)
    • 6.4 Printing inks - Market size and forecast 2022-2027
      • Exhibit 38: Chart on Printing inks - Market size and forecast 2022-2027 ($ million)
      • Exhibit 39: Data Table on Printing inks - Market size and forecast 2022-2027 ($ million)
      • Exhibit 40: Chart on Printing inks - Year-over-year growth 2022-2027 (%)
      • Exhibit 41: Data Table on Printing inks - Year-over-year growth 2022-2027 (%)
    • 6.5 Cleaning products - Market size and forecast 2022-2027
      • Exhibit 42: Chart on Cleaning products - Market size and forecast 2022-2027 ($ million)
      • Exhibit 43: Data Table on Cleaning products - Market size and forecast 2022-2027 ($ million)
      • Exhibit 44: Chart on Cleaning products - Year-over-year growth 2022-2027 (%)
      • Exhibit 45: Data Table on Cleaning products - Year-over-year growth 2022-2027 (%)
    • 6.6 Adhesives and sealants - Market size and forecast 2022-2027
      • Exhibit 46: Chart on Adhesives and sealants - Market size and forecast 2022-2027 ($ million)
      • Exhibit 47: Data Table on Adhesives and sealants - Market size and forecast 2022-2027 ($ million)
      • Exhibit 48: Chart on Adhesives and sealants - Year-over-year growth 2022-2027 (%)
      • Exhibit 49: Data Table on Adhesives and sealants - Year-over-year growth 2022-2027 (%)
    • 6.7 Others - Market size and forecast 2022-2027
      • Exhibit 50: Chart on Others - Market size and forecast 2022-2027 ($ million)
      • Exhibit 51: Data Table on Others - Market size and forecast 2022-2027 ($ million)
      • Exhibit 52: Chart on Others - Year-over-year growth 2022-2027 (%)
      • Exhibit 53: Data Table on Others - Year-over-year growth 2022-2027 (%)
    • 6.8 Market opportunity by Application
      • Exhibit 54: Market opportunity by Application ($ million)

    7 Market Segmentation by Product

    • 7.1 Market segments
      • Exhibit 55: Chart on Product - Market share 2022-2027 (%)
      • Exhibit 56: Data Table on Product - Market share 2022-2027 (%)
    • 7.2 Comparison by Product
      • Exhibit 57: Chart on Comparison by Product
      • Exhibit 58: Data Table on Comparison by Product
    • 7.3 Lactate esters - Market size and forecast 2022-2027
      • Exhibit 59: Chart on Lactate esters - Market size and forecast 2022-2027 ($ million)
      • Exhibit 60: Data Table on Lactate esters - Market size and forecast 2022-2027 ($ million)
      • Exhibit 61: Chart on Lactate esters - Year-over-year growth 2022-2027 (%)
      • Exhibit 62: Data Table on Lactate esters - Year-over-year growth 2022-2027 (%)
    • 7.4 Methyl soyate solvents - Market size and forecast 2022-2027
      • Exhibit 63: Chart on Methyl soyate solvents - Market size and forecast 2022-2027 ($ million)
      • Exhibit 64: Data Table on Methyl soyate solvents - Market size and forecast 2022-2027 ($ million)
      • Exhibit 65: Chart on Methyl soyate solvents - Year-over-year growth 2022-2027 (%)
      • Exhibit 66: Data Table on Methyl soyate solvents - Year-over-year growth 2022-2027 (%)
    • 7.5 Alcohols - Market size and forecast 2022-2027
      • Exhibit 67: Chart on Alcohols - Market size and forecast 2022-2027 ($ million)
      • Exhibit 68: Data Table on Alcohols - Market size and forecast 2022-2027 ($ million)
      • Exhibit 69: Chart on Alcohols - Year-over-year growth 2022-2027 (%)
      • Exhibit 70: Data Table on Alcohols - Year-over-year growth 2022-2027 (%)
    • 7.6 D-limonene - Market size and forecast 2022-2027
      • Exhibit 71: Chart on D-limonene - Market size and forecast 2022-2027 ($ million)
      • Exhibit 72: Data Table on D-limonene - Market size and forecast 2022-2027 ($ million)
      • Exhibit 73: Chart on D-limonene - Year-over-year growth 2022-2027 (%)
      • Exhibit 74: Data Table on D-limonene - Year-over-year growth 2022-2027 (%)
    • 7.7 Others - Market size and forecast 2022-2027
      • Exhibit 75: Chart on Others - Market size and forecast 2022-2027 ($ million)
      • Exhibit 76: Data Table on Others - Market size and forecast 2022-2027 ($ million)
      • Exhibit 77: Chart on Others - Year-over-year growth 2022-2027 (%)
      • Exhibit 78: Data Table on Others - Year-over-year growth 2022-2027 (%)
    • 7.8 Market opportunity by Product
      • Exhibit 79: Market opportunity by Product ($ million)

    8 Customer Landscape

    • 8.1 Customer landscape overview
      • Exhibit 80: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

    9 Geographic Landscape

    • 9.1 Geographic segmentation
      • Exhibit 81: Chart on Market share by geography 2022-2027 (%)
      • Exhibit 82: Data Table on Market share by geography 2022-2027 (%)
    • 9.2 Geographic comparison
      • Exhibit 83: Chart on Geographic comparison
      • Exhibit 84: Data Table on Geographic comparison
    • 9.3 North America - Market size and forecast 2022-2027
      • Exhibit 85: Chart on North America - Market size and forecast 2022-2027 ($ million)
      • Exhibit 86: Data Table on North America - Market size and forecast 2022-2027 ($ million)
      • Exhibit 87: Chart on North America - Year-over-year growth 2022-2027 (%)
      • Exhibit 88: Data Table on North America - Year-over-year growth 2022-2027 (%)
    • 9.4 Europe - Market size and forecast 2022-2027
      • Exhibit 89: Chart on Europe - Market size and forecast 2022-2027 ($ million)
      • Exhibit 90: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
      • Exhibit 91: Chart on Europe - Year-over-year growth 2022-2027 (%)
      • Exhibit 92: Data Table on Europe - Year-over-year growth 2022-2027 (%)
    • 9.5 APAC - Market size and forecast 2022-2027
      • Exhibit 93: Chart on APAC - Market size and forecast 2022-2027 ($ million)
      • Exhibit 94: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
      • Exhibit 95: Chart on APAC - Year-over-year growth 2022-2027 (%)
      • Exhibit 96: Data Table on APAC - Year-over-year growth 2022-2027 (%)
    • 9.6 South America - Market size and forecast 2022-2027
      • Exhibit 97: Chart on South America - Market size and forecast 2022-2027 ($ million)
      • Exhibit 98: Data Table on South America - Market size and forecast 2022-2027 ($ million)
      • Exhibit 99: Chart on South America - Year-over-year growth 2022-2027 (%)
      • Exhibit 100: Data Table on South America - Year-over-year growth 2022-2027 (%)
    • 9.7 Middle East and Africa - Market size and forecast 2022-2027
      • Exhibit 101: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
      • Exhibit 102: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
      • Exhibit 103: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
      • Exhibit 104: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)
    • 9.8 US - Market size and forecast 2022-2027
      • Exhibit 105: Chart on US - Market size and forecast 2022-2027 ($ million)
      • Exhibit 106: Data Table on US - Market size and forecast 2022-2027 ($ million)
      • Exhibit 107: Chart on US - Year-over-year growth 2022-2027 (%)
      • Exhibit 108: Data Table on US - Year-over-year growth 2022-2027 (%)
    • 9.9 China - Market size and forecast 2022-2027
      • Exhibit 109: Chart on China - Market size and forecast 2022-2027 ($ million)
      • Exhibit 110: Data Table on China - Market size and forecast 2022-2027 ($ million)
      • Exhibit 111: Chart on China - Year-over-year growth 2022-2027 (%)
      • Exhibit 112: Data Table on China - Year-over-year growth 2022-2027 (%)
    • 9.10 Germany - Market size and forecast 2022-2027
      • Exhibit 113: Chart on Germany - Market size and forecast 2022-2027 ($ million)
      • Exhibit 114: Data Table on Germany - Market size and forecast 2022-2027 ($ million)
      • Exhibit 115: Chart on Germany - Year-over-year growth 2022-2027 (%)
      • Exhibit 116: Data Table on Germany - Year-over-year growth 2022-2027 (%)
    • 9.11 UK - Market size and forecast 2022-2027
      • Exhibit 117: Chart on UK - Market size and forecast 2022-2027 ($ million)
      • Exhibit 118: Data Table on UK - Market size and forecast 2022-2027 ($ million)
      • Exhibit 119: Chart on UK - Year-over-year growth 2022-2027 (%)
      • Exhibit 120: Data Table on UK - Year-over-year growth 2022-2027 (%)
    • 9.12 Canada - Market size and forecast 2022-2027
      • Exhibit 121: Chart on Canada - Market size and forecast 2022-2027 ($ million)
      • Exhibit 122: Data Table on Canada - Market size and forecast 2022-2027 ($ million)
      • Exhibit 123: Chart on Canada - Year-over-year growth 2022-2027 (%)
      • Exhibit 124: Data Table on Canada - Year-over-year growth 2022-2027 (%)
    • 9.13 Market opportunity by geography
      • Exhibit 125: Market opportunity by geography ($ million)

    10 Drivers, Challenges, and Trends

    • 10.1 Market drivers
      • 10.2 Market challenges
        • 10.3 Impact of drivers and challenges
          • Exhibit 126: Impact of drivers and challenges in 2022 and 2027
        • 10.4 Market trends

          11 Vendor Landscape

          • 11.1 Overview
            • 11.2 Vendor landscape
              • Exhibit 127: Overview on Criticality of inputs and Factors of differentiation
            • 11.3 Landscape disruption
              • Exhibit 128: Overview on factors of disruption
            • 11.4 Industry risks
              • Exhibit 129: Impact of key risks on business

            12 Vendor Analysis

            • 12.1 Vendors covered
              • Exhibit 130: Vendors covered
            • 12.2 Market positioning of vendors
              • Exhibit 131: Matrix on vendor position and classification
            • 12.3 Archer Daniels Midland Co.
              • Exhibit 132: Archer Daniels Midland Co. - Overview
              • Exhibit 133: Archer Daniels Midland Co. - Business segments
              • Exhibit 134: Archer Daniels Midland Co. - Key offerings
              • Exhibit 135: Archer Daniels Midland Co. - Segment focus
            • 12.4 BASF SE
              • Exhibit 136: BASF SE - Overview
              • Exhibit 137: BASF SE - Business segments
              • Exhibit 138: BASF SE - Key news
              • Exhibit 139: BASF SE - Key offerings
              • Exhibit 140: BASF SE - Segment focus
            • 12.5 Braskem SA
              • Exhibit 141: Braskem SA - Overview
              • Exhibit 142: Braskem SA - Business segments
              • Exhibit 143: Braskem SA - Key offerings
              • Exhibit 144: Braskem SA - Segment focus
            • 12.6 Cargill Inc.
              • Exhibit 145: Cargill Inc. - Overview
              • Exhibit 146: Cargill Inc. - Product / Service
              • Exhibit 147: Cargill Inc. - Key news
              • Exhibit 148: Cargill Inc. - Key offerings
            • 12.7 Circa Group AS
              • Exhibit 149: Circa Group AS - Overview
              • Exhibit 150: Circa Group AS - Product / Service
              • Exhibit 151: Circa Group AS - Key offerings
            • 12.8 Comindex SA
              • Exhibit 152: Comindex SA - Overview
              • Exhibit 153: Comindex SA - Product / Service
              • Exhibit 154: Comindex SA - Key offerings
            • 12.9 CREMER OLEO GmbH and Co. KG
              • Exhibit 155: CREMER OLEO GmbH and Co. KG - Overview
              • Exhibit 156: CREMER OLEO GmbH and Co. KG - Product / Service
              • Exhibit 157: CREMER OLEO GmbH and Co. KG - Key offerings
            • 12.10 DuPont de Nemours Inc.
              • Exhibit 158: DuPont de Nemours Inc. - Overview
              • Exhibit 159: DuPont de Nemours Inc. - Business segments
              • Exhibit 160: DuPont de Nemours Inc. - Key news
              • Exhibit 161: DuPont de Nemours Inc. - Key offerings
              • Exhibit 162: DuPont de Nemours Inc. - Segment focus
            • 12.11 Elevance Renewable Sciences Inc.
              • Exhibit 163: Elevance Renewable Sciences Inc. - Overview
              • Exhibit 164: Elevance Renewable Sciences Inc. - Product / Service
              • Exhibit 165: Elevance Renewable Sciences Inc. - Key offerings
            • 12.12 GFBiochemicals Ltd.
              • Exhibit 166: GFBiochemicals Ltd. - Overview
              • Exhibit 167: GFBiochemicals Ltd. - Product / Service
              • Exhibit 168: GFBiochemicals Ltd. - Key offerings
            • 12.13 Huntsman Corp.
              • Exhibit 169: Huntsman Corp. - Overview
              • Exhibit 170: Huntsman Corp. - Business segments
              • Exhibit 171: Huntsman Corp. - Key news
              • Exhibit 172: Huntsman Corp. - Key offerings
              • Exhibit 173: Huntsman Corp. - Segment focus
            • 12.14 India Glycols Ltd.
              • Exhibit 174: India Glycols Ltd. - Overview
              • Exhibit 175: India Glycols Ltd. - Business segments
              • Exhibit 176: India Glycols Ltd. - Key offerings
              • Exhibit 177: India Glycols Ltd. - Segment focus
            • 12.15 Solvay SA
              • Exhibit 178: Solvay SA - Overview
              • Exhibit 179: Solvay SA - Business segments
              • Exhibit 180: Solvay SA - Key news
              • Exhibit 181: Solvay SA - Key offerings
              • Exhibit 182: Solvay SA - Segment focus
            • 12.16 Stepan Co.
              • Exhibit 183: Stepan Co. - Overview
              • Exhibit 184: Stepan Co. - Business segments
              • Exhibit 185: Stepan Co. - Key offerings
              • Exhibit 186: Stepan Co. - Segment focus
            • 12.17 Vertec Biosolvents Inc.
              • Exhibit 187: Vertec Biosolvents Inc. - Overview
              • Exhibit 188: Vertec Biosolvents Inc. - Product / Service
              • Exhibit 189: Vertec Biosolvents Inc. - Key offerings

            13 Appendix

            • 13.1 Scope of the report
              • 13.2 Inclusions and exclusions checklist
                • Exhibit 190: Inclusions checklist
                • Exhibit 191: Exclusions checklist
              • 13.3 Currency conversion rates for US$
                • Exhibit 192: Currency conversion rates for US$
              • 13.4 Research methodology
                • Exhibit 193: Research methodology
                • Exhibit 194: Validation techniques employed for market sizing
                • Exhibit 195: Information sources
              • 13.5 List of abbreviations
                • Exhibit 196: List of abbreviations
              • in crude oil prices: The volatility of crude oil prices is one of the key challenges in the global commodity chemicals market. The volatility of crude oil prices impacts the pricing strategies and margins of adhesives, sealants, lubricants, oilfield cleaners, polymers, as well as plastic additives. The margins of the commodity chemicals are inherently dependent on the global prices of crude oil, which is one of the key raw materials. Any volatility in the prices of crude oil causes uncertainty in end-use markets and eventually influences the margins of all the key stakeholders, including the vendors in the global commodity chemicals market. These fluctuations adversely affect the profitability, cost of sales, and the ability of vendors to effectively address the demands of consumers.

                Research Framework

                Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

                INFORMATION SOURCES

                Primary sources

                • Manufacturers and suppliers
                • Channel partners
                • Industry experts
                • Strategic decision makers

                Secondary sources

                • Industry journals and periodicals
                • Government data
                • Financial reports of key industry players
                • Historical data
                • Press releases

                DATA ANALYSIS

                Data Synthesis

                • Collation of data
                • Estimation of key figures
                • Analysis of derived insights

                Data Validation

                • Triangulation with data models
                • Reference against proprietary databases
                • Corroboration with industry experts

                REPORT WRITING

                Qualitative

                • Market drivers
                • Market challenges
                • Market trends
                • Five forces analysis

                Quantitative

                • Market size and forecast
                • Market segmentation
                • Geographical insights
                • Competitive landscape

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                Key Questions Answered

                • What are the key global market and the regional market share?
                • What are the revenue-generating key market segments?
                • What are the key factors driving and challenging this market’s growth?
                • Who are the key market vendors and their growth strategies?
                • What are the latest trends influencing the growth of this market?
                • What are the variables influencing the market growth in the primary regions?
                • What are the factors influencing the growth of the parent market?

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