Bio Solvents Market Demand Is Expected To Reach 3,569.6 Kilo Tons By 2020: Grand View Research, Inc.
Aug 23, 2016
According to report published by Grand View Research, Inc., global bio solvents market is expected to reach USD 9.31 billion, growing at a CAGR of 5.2% from 2014 to 2020. Bio solvents have been gaining acceptance across key end-use industries
San Francisco, California, United States - August 23, 2016 /MarketersMedia/ —
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. 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. 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.
Access full research report: http://www.grandviewresearch.com/industry-analysis/bio-solvents-market
Key findings
• Global bio solvents demand was 2,505.0 kilo tons in 2013 and is expected to reach 3,569.6 kilo tons by 2020, growing at a CAGR of 5.2% from 2014 to 2020.
• Paints & coatings emerged as the largest application segment and accounted for 44.2% of total market volume in 2013. Increasing construction spending in emerging markets of Brazil, China and India on account of increasing urbanization and industrialization rates is expected to remain a key driving factor for this segment.
• Adhesives & sealants is expected to be the fastest growing application segment at an estimated CAGR of 5.3% from 2014 to 2020. Growing demand for bio-based adhesives & sealants from various end-use industries such as automotive, construction and packaging is expected to remain a key driving factor for this segment.
• North America was the largest regional bio solvents market and accounted for 35% of total market volume in 2013. Favorable regulatory scenario coupled with increasing demand for sustainable chemicals particularly in developed economies of the U.S. and Canada is expected to drive the regional demand. Various initiatives taken by the U.S. government to improve public infrastructure is expected to drive paints & coatings and adhesives & sealants demand. This in turn is expected to have a positive impact on the regional bio solvents market.
• 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.
• Global bio solvents market is highly concentrated with top four companies accounting for over 60% of the total market in 2013. 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.
View more reports of this category by Grand View Research at: http://www.grandviewresearch.com/industry/renewable-chemicals
Market Segments:
Global Bio Solvents Product Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 - 2020)
• Lactate Ester
• Soy Methyl Ester
• Alcohol
• Glycols
• Others
Global Bio Solvents Applications Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 - 2020)
• Paints & Coatings
• Adhesives & Sealants
• Printing Inks
• Others
Global Bio Solvents Regional Outlook (Volume Kilo Tons; Revenue, USD Million, 2012 - 2020)
• North America
• Europe
• Asia Pacific
• RoW
Access press release of this research report: http://www.grandviewresearch.com/press-release/global-bio-solvents-market
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services.
For more information, please visit http://www.grandviewresearch.com/industry-analysis/bio-solvents-market
Contact Info:
Name: Sherry James
Email: [email protected]
Organization: Grand View Research, Inc.
Address: 28 2nd Street, Suite 3036, San Francisco, California, 94105
Phone: 1-415-349-0058
Release ID: 129112
More News
VP’s lawyers didn’t dispute authenticity of financial records – prosecution
MANILA, Philippines – The House prosecution panel over the weekend said Vice President Sara Z. Duterte’s lawyers failed to challenge the authenticity of key financial records during the impeachment trial, focusing instead on bank secrecy and confidentiality objections that the Senate impeachment court has largely rejected. House prosecution legal spokesperson and private prosecutor Benjamin Tolosa
Prosecution sees VP’s possible ‘I didn’t know’ defense on bank accounts
MANILA, Philippines – The House impeachment trial prosecution panel believes Vice President Sara Z. Duterte’s lawyers may argue that she was unaware of certain bank accounts and financial transactions linked to her and her husband, lawyer Manases Carpio, its legal spokesperson and. counsel Benjamin “Jay” Tolosa Jr. said over the weekend. Tolosa said questions raised
26 wanted persons nabbed in Caraga operations
SAN FRANCISCO, Agusan del Sur— The Caraga (Region 13) police arrested 26 wanted individuals in a series of coordinated operations on Saturday, November 7, highlighted by the capture of the region’s fourth most wanted person (MWP) in Esperanza, Agusan del Sur. Brig. Gen. Rolindo Suguilon, Police Regional Office-13 (PRO-13) director, said the one-day operations yielded
Cops probe into shooting of Leyte anti-mining advocate
TACLOBAN CITY — Police are continuing the probe into the shooting of a known anti-mining advocate at his residence in MacArthur, Leyte, on Nov. 6 as an environmental group condemned the attack and called for the immediate identification and arrest of those responsible. The victim, identified by police as Jesus Cabias, 53, a farmer and
Skating ban on Siargao’s ‘Skate Road’ met with opposition
SAN FRANCISCO, Agusan del Sur — Online protests and strong opposition from residents, community advocates, and tourism stakeholders met the imposed ban on skating, vendors and gatherings / activities on the iconic Malinao’s “Skate Road” in General Luna, Siargao Island, with critics warning that the shutdown is a “severe blow” to grassroots livelihoods and island
WALANG PASOK: Class suspensions on Monday, Nov. 9
MANILA, Philippines — Classes are suspended in some parts of the country on Monday, Nov. 9. Cavite City Classes at all levels (public and private schools) are suspended in Cavite City to allow for the disinfection of schools and buildings. Eastern Samar Meanwhile, Eastern Samar province declared Nov. 9 a special non-working day to celebrate
Cempaka intensifies into typhoon outside PAR
MANILA, Philippines — Severe Tropical Storm Cempaka intensified into a typhoon Sunday afternoon ahead of its expected entry into the Philippine area of responsibility (PAR), according to the state weather bureau. In the tropical cyclone formation outlook issued at 4 p.m., the Philippine Atmospheric, Geophysical, and Astronomical Services Administration (Pagasa) said that the tropical cyclone
MILF vows to work with gov’t to deliver Bangsamoro peace deal in full
COTABATO CITY — The Moro Islamic Liberation Front (MILF) has committed to work with the national government to fully deliver the promises of the Comprehensive Agreement on the Bangsamoro (CAB), saying it wants more than the formal conclusion of the peace process. “For its part, the MILF does not seek merely the formal conclusion of
Impeachment, budget: Senate lays out November-December 2026 schedule
The Senate issued an outline of its schedule for the two remaining months of the year, marking the dates for the impeachment trial of Vice President Sara Duterte and the budget hearings.
Family of nursing student found dead in Calapan seeks justice
CALAPAN CITY, Oriental Mindoro — The family of a 20-year-old nursing student found dead in a vacant lot in Barangay Sapul here is seeking justice, vowing to continue speaking out until the truth behind her death is uncovered and those responsible are held accountable. Police said the body of the victim, identified only as “Maru,”
Woman found dead in Calapan was 20-year-old college student
CALAPAN CITY, Oriental Mindoro — A 20-year-old college student from Bongabong, Oriental Mindoro, whose body was earlier found in a vacant lot in Barangay Sapul, Calapan City, is now being mourned by her school community as police intensify the investigation into her death. The Calapan City Police Station earlier reported that a woman’s body was
Act on environmental woes, learn from Yolanda catastrophe, says church
TACLOBAN CITY — The Roman Catholic Diocese of Borongan called on communities to take concrete action against environmental destruction and protect vulnerable populations, saying the lessons of Super Typhoon Yolanda (international name: Haiyan) should result in greater responsibility toward the environment. In a pastoral message issued on Sunday, coinciding with the 13th anniversary of Yolanda’s
YOUR NEWS, OUR NETWORK.
Do you have Great News you want to tell the world?
Be it updates about your business or your community, you can make sure that it’s heard by submitting your story to our network reaching hundreds of news sites across 6 verticals.