The Reports and Insights, a leading market research company, has recently releases report titled “Renewable Solvent Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032.” The study provides a detailed analysis of the industry, including the global Renewable Solvent Market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights:
How big is the Renewable Solvent Market?
The renewable solvent market size reached US$ 3.4 Billion in 2023. Looking forward, Reports and Insights expects the market to reach US$ 6.5 Billion by 2032, exhibiting a growth rate (CAGR) of 7.4% during 2024-2032.
What are Renewable Solvent?
Renewable solvents are eco-friendly alternatives derived from renewable sources like plants, biomass, or agricultural byproducts, aiming to replace conventional, potentially harmful petroleum-based solvents. They boast lower toxicity, biodegradability, and reduced greenhouse gas emissions, making them a sustainable choice for industries such as cleaning products, coatings, and pharmaceuticals.
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What are the growth prospects and trends in the Renewable Solvent industry?
The renewable solvent market growth is driven by various factors and trends. The renewable solvent market is expanding due to growing environmental consciousness and the increasing adoption of sustainable practices. Demand is rising for renewable solvents sourced from bio-based materials like plants, biomass, and agricultural byproducts. These solvents offer advantages such as lower toxicity, biodegradability, and reduced greenhouse gas emissions compared to traditional petroleum-based solvents, making them appealing to industries such as cleaning products, coatings, and pharmaceuticals. As regulations become more stringent and consumer awareness increases, the global renewable solvent market is expected to keep growing. Hence, all these factors contribute to renewable solvent market growth.
What is included in market segmentation?
The report has segmented the market into the following categories:
By Type:
- Bio-Alcohols
- Bio-Diols
- Methyl Soyate
- Ethyl Lactate
- Others
By Source:
- Agricultural Waste
- Forest Residues
- Industrial Waste
- Algae
- Others
By Application:
- Paints & Coatings
- Cleaning & Degreasing
- Adhesives & Sealants
- Printing Inks
- Pharmaceuticals
- Others
By End-Use Industry:
- Paints & Coatings
- Pharmaceuticals
- Personal Care & Cosmetics
- Agriculture
- Cleaning & Domestic
- Others
Segmentation By Region:
North America:
- United States
- Canada
Asia Pacific:
- China
- India
- Japan
- South Korea
- Australia & New Zealand
- Association of Southeast Asian Nations (ASEAN)
- Rest of Asia Pacific
Europe:
- Germany
- The U.K.
- France
- Spain
- Italy
- Russia
- Poland
- BENELUX (Belgium, the Netherlands, Luxembourg)
- NORDIC (Norway, Sweden, Finland, Denmark)
- Rest of Europe
Latin America:
- Brazil
- Mexico
- Argentina
- Rest of Latin America
The Middle East & Africa:
- Saudi Arabia
- United Arab Emirates
- South Africa
- Egypt
- Israel
- Rest of MEA (Middle East & Africa)
Who are the key players operating in the industry?
The report covers the major market players including:
- Archer Daniels Midland Company
- BASF SE
- BioAmber Inc.
- Cargill, Incorporated
- DuPont de Nemours, Inc.
- Elevance Renewable Sciences, Inc.
- Genomatica, Inc.
- Green Biologics Ltd.
- Huntsman Corporation
- LyondellBasell Industries N.V.
- Pinova Holdings, Inc.
- Solvay S.A.
- The Dow Chemical Company
- Vertec Biosolvents Inc.
View Full Report: https://www.reportsandinsights.com/report/Renewable Solvent-market
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