Renewable Solvent Market Size, Share to Reach USD 6022.8 Million by 2030 | Credence Research

NEW YORK - Jan. 15, 2024 - PRLog -- The latest market report published by Credence Research, Inc. The global demand for Renewable Solvent market was valued at USD 3984.5 million in 2022 and is expected to reach USD 6022.8 Million in 2030, growing at a CAGR of 5.30% between 2023 and 2030.

The renewable solvent market is experiencing a remarkable surge in recent years, driven by the global shift towards sustainable and environmentally friendly alternatives. These solvents play a pivotal role in various industries, including pharmaceuticals, cosmetics, paints and coatings, and more. As the world becomes increasingly aware of the need to reduce greenhouse gas emissions and minimize the use of fossil fuels, renewable solvents have emerged as a promising solution. In this article, we will explore the dynamics of the renewable solvent market and its positive impact on the environment and various industries.

The Rise of Renewable Solvents

Renewable solvents, also known as bio-based solvents, are derived from renewable resources such as agricultural crops, waste materials, and other bio-based feedstocks. Unlike traditional petroleum-based solvents, renewable solvents offer numerous advantages, including lower toxicity, reduced volatile organic compound (VOC) emissions, and a smaller carbon footprint. These attributes make them highly attractive to manufacturers and consumers alike.

Browse the Full Report: https://www.credenceresearch.com/report/renewable-solvent-market

Market Growth and Potential

The renewable solvent market has witnessed substantial growth in recent years, with a projected compound annual growth rate (CAGR) of over 7% from 2021 to 2026. This growth is attributed to several factors, including increasing environmental awareness, stricter regulations on emissions and VOCs, and the pursuit of sustainable sourcing in various industries. As consumers demand greener products, manufacturers are turning to renewable solvents to meet these expectations.

List of Companies Covered:

• Neste
• ASTROBIO
• Nexant Inc.
• US Polychem
• IHS Markit
• InKemia Green Chemicals, Inc.
• Archer Daniels Midland Company
• Braskem
• Vertec Biosolvents
• Cargill Incorporated
• Wilmar BioEthanol
• Cremer Oleo Gmbh & Company KG.

By Segmentation

By Type of Renewable Solvent:

• Bio-Based Solvents
• Green Solvents
• Natural Solvents
• Alcohol-Based Solvents
• Ester-Based Solvents
• Glycol-Based Solvents

By Application:

• Paints and Coatings
• Adhesives and Sealants
• Cleaning Products
• Printing Inks
• Chemical Processing
• Pharmaceuticals
• Personal Care and Cosmetics
• Others

By Feedstock Source:

• Plant-Based
• Waste-Based
• Algae-Based
• Cellulosic

By End-Use Industry:

• Manufacturing
• Construction
• Automotive
• Agriculture
• Healthcare
• Consumer Goods
• Others

By Certifications and Standards:

• Ecolabels
• Compliance with Regulations

By Region

• North America
• Europe
• Asia Pacific
• Rest of World