Green & Bio-Based Solvents Market – Analysis by Market Share

Description

Green & Bio-Based Solvents Market Synopsis

The Green & Bio-Based Solvents Market Size Was Valued at USD 5.42 Billion in 2024, and is Projected to Reach USD 8.77 Billion by 2032, Growing at a CAGR of 6.2% From 2025-2032.

Green & bio-based solvents are derived from vegetable oils, lactic acid, bio-succinic acid, beat, sugarcane, corn, and refined glycerin. These solvents are produced using a biorefinery facility that includes both the equipment and conversion of biomass which in turn yields fuel and power. They are also used as feedstock in the manufacture of chemical products including the bio-glycols as well as the bio-alcohols. In addition, their properties are eco-friendly and reusable; they do not promote the formation of cancer diseases, do not rust, and are biodegradable. The other unique factor with green & bio-based solvents is that these are poorly soluble, nontoxic and have a high boiling point; these attributes make green & bio-based solvents to be used as substitute products for crude oil-based solvents. Most of these solvents are used in paints & coatings, inks, cleaning agents, adhesives, pharmaceuticals, fragrances cosmetics, and printing.

In comparison to other solvent materials that are derived from crude oil through petrochemicals, they produce comparatively fewer VOCs during manufacture and use. Because of these properties, they are widely used in the synthesis of agrochemicals, paints, varnishes, printing inks, adhesives, sealants, pharmaceuticals, cosmetics, and home decoration products. Green and bio-solvents are described as chemical substances that are relatively innocuous to the environment and are extractive from agricultural products. Such chemicals are produced through cropping of crops like sugarcane, refined glycerin, soybean oil, corn lactic acid, and bio-succinic. Water and hydrocarbon option variations are some of the common types of green and bio-solvents in use today.

One of the significant factors that contributed to the market having an optimistic outlook is the rising demand for green solvents across various industries. Newborn solvents are synthetic organic compound solvents that do not pose carcinogenic, corrosive, and ozone layer depletion effects. They are quickly marked exchange artificial solvent, for example, dispersing agent, solvent or dissolver. Besides, they are used in the drug discovery and development processes to isolate and purify target molecules out of complex cocktails.

The market is mainly fuelled with the growing needs from major end use segments like paints & coatings, adhesives and more importantly the pharmaceuticals. The paints and coating industry, as well as the adhesive industry, has been growing as a direct result of population pressure and the consequent demand by industries such as buildings and construction, public works, etc.

The government and other regulatory bodies of different nations are increasingly adopting environmental policies that force organizations to take more environmentally friendly stances. Some of the legislation that has influenced the need for bio-based solvents include; REACH in Europe, the Toxic Substances Control Act in United states,Uses of safer chemicals preclude bio-based solvents. Such a regulation ensures compliance to the set environmental standards within enterprises hence encouraging the growth of green bio-based solvents.

Green & Bio Based Solvents Market Trend Analysis

Green & Bio Based Solvents Market Growth Driver- Consumer Demand for Sustainability Coupled With Industrial and application diversity

Consumers nowadays have a high rate of preferring products that are less damaging to the environment. This trend compels producers to seek green bio based solvents to use in production process. Eco-conscious consumers are willingness to pay a premium for green products and thus firms use bio-based solvents to meet these high expectations. This shift in consumer behavior has a huge impact on the commercial market.

Growing demand of bio-based solvents across various sectors like automotive, pharmaceuticals and personal care is paving the way for the bio-based solvent market growth. These solvents are thus used in cleaning agents, formulation and extraction procedures and are safer than the traditional ones to the environment. The global use of bio-based solvents is attractive in numerous industrial applications because it is diverse and adaptive. This has been seen to be pushing the adoption rate and growth of the market at the industrial level.

Green & Bio Based Solvents Market Expansion Opportunity- Technological advancements and R&D

Ongoing advancement in research and development has been realised in the improvement of bio-based solvents. These developments improve efficiency, economics, and applicability of bio-based solvents in various sectors. Enhanced attributes like higher solvency power and reduced toxicity make them more suitable to replace existing solvents. Another function of R&D activities is essential in expanding the market by catering for needs of various industries.

Green & Bio Based Solvents Market Segment Analysis:

Green & Bio Based Solvents Market Segmented based on Type, Application, and Region.

By Type, D-Limonene segment is expected to dominate the market during the forecast period

Segmented by Type, the market is classified into Bio-Alcohol, Bio-Diols, and D-Limonene. D-Limonene has a large market share in comparison with other bio solvents such as bioalcohols and biodiols because it is made from citrus peels which are renewable and quite easily available in the market. The relatively low toxicity of the substance helps users avoid certain risks associated with the use of regular solvents. In addition, its application in many markets is also due to the fact that D-Limonene acts as a solvent for various compounds including fats, oils, and greases.

By Application, paints and coatings segment held the largest share in 2024

With regards to Application, the market constitutes Industrial & Domestic Cleaners, Paints & Coatings, Adhesives, & Cosmetics. In 2022, paints and coatings industry constituted a major market share and is likely to continue to dominate the market throughout the analysis period. This can be attributed to factors like long term consistent economic triangular perfect together with rise in FDI inflow in building & construction sector, thus escalating the demand of green/bio-based solvents

Green & Bio Based Solvents Market Regional Insights:

North America is Expected to Dominate the Market Over the Forecast period

North America holds the largest share in the global green bio-based solvents market triggered by strict environmental laws and regulations that promote sustainable embracing of green products. Like the EPA and other regulatory bodies in the region, stringency and standards, on emission of volatile organic compounds, and use of environment-friendly chemicals have been tightened. The emergence of regulatory norms enhances the necessity to use green solvents in the market, thus contributing towards market growth.

The regulatory framework and solid industrial structure of the region, especially the pharmaceutical industry, cosmetics, and food processing sector, contribute to the increased consumption of bio-based solvents. These industries use solvents for the number of tasks and need high performance ones; thus, with the call for environmental responsibility, the use of bio based solutions is getting more and more alluring. In these industries, there has been an established infrastructure, and there have been advancements and improvements in the technologies which also push for the use of green solvents.

Consumers’ awareness and attitude towards eco-friendly products can shift the tides of a particular market significantly. Currently, labeled nets customers in North America are vouching for more environmentally friendly ways that organizations undertake their operations. Such a shift in consumer perception automatically forces producers to focus on and spend in bio based solvents in order to meet these expectations.

Active Key Players in the Green & Bio Based Solvents Market

Archer Daniels Midland Company

BASF SE

Cargill

Incorporated

CREMER OLEO GmbH & Co. KG

Dow Inc.

Elevance Renewable Sciences Inc.

Florachem Corporation

Huntsman Corporation

LyondellBasell Industries N.V.

Vertec Biosolvents Inc

Other Active Players