Green/Bio-based Solvents Market To Surge in Near Future Owing To Rapid Adoption Across Key Industries

  • SHARE

  • mailMail

Green/Bio-based Solvents Market To Su...

  • SHARE

  • mail

Commodity

Petrochemicals

Writer

Administrator

Petrochemicals · 03 April, 2022

Green/Bio-based Solvents Market To Surge in Near Future Owing To Rapid Adoption Across Key Industries

Green/Bio-Based Solvents Market Report, published by Allied Market Research, forecasts that the global market is expected to reach 6.2 billion by 2030, registering a CAGR of 5.0% during the period 2021-2030.

Commodity

Petrochemicals

Writer

Administrator

Green/Bio-Based Solvents Market Report, published by Allied Market Research, forecasts that the global market is expected to reach 6.2 billion by 2030, registering a CAGR of 5.0% during the period 2021-2030.


Paints and coatings application segment contributed 43.6% share of the overall green solvents market, and is expected to maintain this trend during the forecast period.


Green solvents are bio-based solvents that are derived from various agricultural sources, such as corn, sugarcane, lactic acid, refined glycerine, bio succinic acid, vegetable oils, among others. Volatility in the crude oil prices, lower content of volatile organic compounds (VOC) and environment-friendly attribute of green solvents are the major factors fostering the growth of this market across the globe. Furthermore, increasing adoption of green solvents among the end users, including paints and coatings, printing inks and others; spiralling construction activities, automobile and consumer goods industries across the globe would supplement the market growth. However, high production cost due to capital-intensive production techniques coupled with heavy R&D investments are the major factors that would hamper the market growth.



by. digitaljournal / 29th March 2022