Asia-Pacific Green Solvent Market Analysis, 2024-2030

Green solvents are solvents made from naturally occurring resources like plants, fruits, and seeds. These are non-emitting VOCs, and they have either low or no toxicity, low miscibility and are readily biodegradable. They are becoming more popular and prevalent than conventional solvents as they are less toxic, easy to recycle and have a high boiling point. Green solvents are a result of the idea to minimize the environmental impact resulting from the use of solvents in chemical production.

The report on Asia-Pacific green solvents market presents the crux of over 200 hours of synergized efforts of analysts, industry experts, and academician to assess the present market scenario. The findings are substantiated by a thorough analysis of the green solvents industry value chain coupled with exhaustive secondary and primary research.

As per the report, the Asia-Pacific market is expected to witness its highest growing streak from 2017-2024. It is estimated to reach USD XXX.XX million by 2024 and it is predicted to grow from 2017 to 2024 approximately a CAGR of X.XX %.

The major drivers of the green & bio-solvents market is the environmental & regulatory pressure imposed by the governments to reduce the emissions of ODS, VOCs, and HAPs, the intentions of reduced dependency on petrochemical solvents, improved competitiveness from product differentiation and uncertainty about oil price development. There are many factors that will hamper the market growth. Some of the reasons are huge investment cost, decreasing the price of oil and gas and slow reaction rate compared to chemical solvents.

Paint and coatings industry is the highest consumer of green solvents, and it is expected to be the fastest growing segment in the predetermined period. Ester solvents have the highest market share due to the low price, good quality and easy availability.

Developing economies like China, India, Malaysia, and Thailand are predicted to show signs of great growth in this market. On the global view, countries such as China, the U.S., and Brazil are the major markets of green & bio-solvents.

Some of the key players in the green solvent market are Shenzhen Esun Industrial Co. Ltd, Gevo Inc., Vertec Biosolvents Inc., Florida Chemicals, LyondellBasell and Huntsman Corporation.

Our Approach

At Market Krystal, we believe in a systematic approach towards the problem at hand. The process begins with the identification of a challenge/opportunity, followed by an exhaustive brainstorming by in-house and consulting experts. Based on the outcomes, an in-depth research (primary & secondary) is carried out to collect industry insights. The data is then analysed by a gamut of techniques (Statistics, Machine Learning, Econometrics, and Analytics) to derive inter-disciplinary deductions that are executable and result in value creation.

Hence, the Asia-Pacific green solvents market is divided on the basis of the type and the application of the green solvent. Type-based categorization is alcohols, glycols, diols, lactate esters, d-limonene, methyl soyate and others. The application-based division is split into industrial & domestic cleaners, paints & coatings, adhesives, printing inks and others. All types of green solvents were studied for different applications in different countries within Asia-Pacific region. Findings were later integrated for a consolidated report.

Market Krystal ensured a holistic approach by involving experts from diverse functionalities and locations (Fig1). This allowed a 3600 view of the industry dynamic.

Figure 1 Primary research breakdown

Contents of the report:

• Insight on the current industry dynamics
• Estimation of the current market size in terms of value and volume
• Market breakup based on types, application and geography
• Substantiated market forecasting for the next five years
• Detailed analysis of the key companies operating across different nodes of green solvent industry value chain