Global Solvent Recycling Market 2016-2020
About Global Solvent Recycling Market
The global solvent recycling market, although in existence for a while, has started to gain visible traction only in the past few years. The technology for improving the efficiency and viability of the entire process is still experiencing significant evolution and is expected to continue doing so in the foreseeable future. With these factors in hindsight, we are expecting the global solvent recycling market to witness remarkable growth in the forecast period, lasting till fiscal 2020.
Technavio’s analysts forecast the global solvent recycling market to grow at a CAGR of 16.65% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global solvent recycling market for 2016-2020. To calculate the market size, the report presents the vendor landscape and a corresponding detailed analysis of the top vendors operating in the market.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Solvent Recycling Market 2016-2020
Technavio recognizes the following companies as the key players in the global solvent recycling market: Clean Planet Chemical, IST Pure, Maratek Environmental, and Veolia.
Other Prominent Vendors in the market are: CBG Technologies, CycleSolv, and Tradebe.
Commenting on the report, an analyst from Technavio’s team said: “One of the major trends that is expected to sustain the global solvent recycling market is the implementation and reinforcement of stringent national and governmental laws, pertaining to the usage of environmentally harmful solvents. As with many developed nations, many developing nations have started shifting their focus toward the creation of an environmentally sustainable industrial framework.”
According to the report, one of the major drivers for the implementation of solvent recycling in the overall industrial or commercial value chain is the introduction of cost advantages in the processes. If we take a look at the major industrial and commercial processes around the globe, the use of solvents is majorly concentrated either for extraction or purification of streams. As the scale of operations increase, so does the need for the replenishment of solvent streams.
Further, the report states that high cost of specialized resources will be a challenge for the market. Although the basic fundamental of the solvent recycling process is the fractionation process, there are certain specifications that need to be considered to ensure the success of the solvent recycling process. The overall solvent recycling process involves the procurement and transportation of used solvent streams from industrial sites and further transportation to the recycling plants. These require special manpower and tankers for the safe transportation and the costs of spillage can be significant. The availability of manpower and equipment has limited the success of the solvent recycling industry in the past.
Clean Planet Chemical, IST Pure, Maratek Environmental, Veolia, CBG Technologies, CycleSolv, Tradebe.