TAGS: Environmentally Friendly Coatings
The green & bio-solvents market size is estimated to be USD 1.2 billion in 2021 and is projected reach USD 1.5 billion by 2026, at a CAGR of 4.5% between 2021 and 2026.
Solvents derived from biomass are referred to as green & bio-solvent. Green & bio-solvents are derived from the processing of bio-diesel, plant, or natural products as a more environmentally-friendly alternative to petrochemical solvents. Solvents are liquids that possess the ability to dissolve, dilute or extract other substances without modifying the chemical composition of the extracted substances or of the solvent itself.
Industrial & Domestic Cleaners is the largest application of the green & bio-solvents market. North America was the largest market for green & bio-solvents in 2020, in terms of both volume and value. Factors such as growing demand from pharmaceuticals industry, rapid industrialization in growing economies like China, India & Thailand and increasing stringent regulations will drive the green & bio-solvents market.
Methyl Soyate - Fastest-Growing Segment
Methyl soyate has become commercially successful as a viable green alternative industrial solvent on its own merits. Its market demand has increased exponentially over the past ten years. This is despite some perceived solvent property deficiencies. Beyond being an ingredient in cleaners and strippers to replace chlorinated or petroleum products, methyl soyate could find increased use as a carrier solvent. Methyl soyate is not limited to the replacement of regulated industrial cleaning solvents.
Due to its eco-friendly nature, methyl soyate can be used to clean up and recover petroleum products from shorelines and streams. The EPA has listed a methyl soyate bio-solvent on the National Contingency Plan product schedule for oil spills.
Industrial & Domestic Cleaners - Largest Application
Bio-solvents are used in the cleaning of high-precision mechanical parts such as ball bearings. For this application, perfect cleaning is necessary for the proper functioning of the mechanical piece (remaining dirt would damage the metal) and is critical to the safety of machines in the working process. The use of bio-solvents in household cleaners helps to clean the kitchens, showers, toilets, carpets, and other household items. For example, solvents used in dry cleaning machines help clean clothes by dispersing and dissolving dirt. Bio-solvents also help with disinfectant to get into all the nooks and crannies of the surface. They give products a longer shelf-life and also ensure product stability.
Source: MarketsandMarkets™