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Bio Solvents Market Segments and Key Trends Overview by 2020

Volatile petrochemical prices coupled with growing concerns regarding VOC presence in conventional solvents is expected to remain a key driving factor for global bio solvents market. The Global Bio Solvents Market is expected to reach USD 9.31 billion by 2020, according to a new study by Grand View Research, Inc.
Bio solvents have been gaining acceptance across key end-use industries and are expected to replace most of the conventional solvents on account of its biodegradability and toxic free properties. Increasing demand for green paints & coatings is expected to further complement the market growth. Increasing market penetration in pharmaceutical and cosmetic industries is also expected to have a positive influence on the market growth.

Lactate ester emerged as the leading product segment and accounted for 30% of total market volume in 2013. Increasing penetration of lactate esters in coatings, printing inks and industrial cleaning applications is expected to drive its demand over the forecast period.

Growth of paints & coatings industry on account of increasing construction spending particularly in emerging markets of Asia Pacific and Latin America is expected to further drive its demand. Glycols are expected to be the fastest growing product segment at an estimated CAGR of 5.4% from 2014 to 2020. Positive outlook on global automotive industry is expected to fuel its demand over the next six years.

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Asia Pacific is expected to witness the highest growth rate over the forecast period. The region is expected to grow at an estimated CAGR of 5.5% from 2014 to 2020. Growth of major end-use industries particularly in China and India is expected to drive the regional market.

Top Players of Bio Solvents Market:

Major companies operating in the global market include BASF, DuPont, The Dow Chemical Company, Cargill, AkzoNobel, LyondellBasell, Gevo, BioAmber, Hunstman Corp., Myriant, Florida Chemicals and Vertec Biosolvents.

Market Segmentation of Bio Solvents Market:

The Global Bio Solvents Market on the basis of Product, Application and Region.

By Product:

Lactate Ester
Soy Methyl Ester
Alcohol
Glycols

By Application:

Paints & Coatings
Adhesives & Sealants
Printing Inks

By Region:

North America
Europe
Asia Pacific
RoW

Inquire about Bio Solvents Market with Our Experts @ https://www.grandviewresearch.com/inquiry/1004/ibb 
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