Global Bio Based Solvents Market (Revenue) is Anticipated to Reach CAGR of 5.05% from 2023 – 2031

HOUSTON, TEXAS, UNITED STATES, July 13, 2023/EINPresswire.com/ -- Bio based solvents, also known as green solvents or sustainable solvents, are substances used to dissolve, suspend, or extract other materials without causing significant harm to human health or the environment. They are designed to replace traditional solvents that are often hazardous, toxic, or volatile organic compounds (VOCs). Bio based solvents aim to minimize the environmental impact associated with their production, use, and disposal while maintaining high performance and effectiveness. Various attempts are being undertaken to eliminate or greatly reduce waste formation in chemical processes as well as reduce the usage of hazardous compounds, notably volatile organic solvents (VOCs). Additionally, growing awareness about the environmental impact of traditional solvents has led to a shift towards more sustainable alternatives. Bio-based solvents, derived from renewable resources, offer a reduced carbon footprint and lower environmental impact compared to their petroleum-based counterparts.

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The very first and most widely utilised bio-based chemical solvent in industrial manufacturing is ethanol. Detergents, cosmetics, lotions, shampoos, soaps, and other consumer goods most frequently include it. In recent years, there has been an upsurge in demand for bio-glycerol. Glycerol hasn't been used much as a solvent, but a new study indicates that it has a large potential to replace many solvents. Additionally, bio-glycerol is made as a byproduct of biodiesel and is sold for a reasonable price. Bio-based solvents will turn out to be efficient in the near future, even after accounting for one-time conversion expenses, ongoing operational costs, and laws related to the use of a new solvent. Green solvents will undoubtedly contribute to ensuring a greener future, leading to the growth of the global bio based solvents market.

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Global Bio Based Solvents Market Applications
• Coatings and Paints: Bio based solvents are used in the formulation of paints, varnishes, and coatings. They help dissolve or disperse the resin and other ingredients, enhance flow and levelling, and contribute to the overall performance of the coating. Examples of bio-based solvents used in coatings include ethyl lactate, glycerol, and methyl soyate.
• Personal Care Products: Bio-based solvents are often utilized in the extraction of natural ingredients used in personal care products. They can effectively extract active compounds from botanicals, herbs, and other natural sources, preserving their beneficial properties. Certain bio-based solvents can be used as propellants in aerosol products, including hairsprays, deodorants, and shaving creams. These solvents offer a more sustainable option compared to petroleum-based propellants.
• Pharmaceuticals: Bio based solvents are employed in the pharmaceutical industry for various purposes, including the extraction of active pharmaceutical ingredients (APIs) from natural sources, formulation of liquid dosage forms, and as solvents in pharmaceutical processes. Ethanol, glycerol, and dimethyl carbonate (DMC) are examples of bio-based solvents used in pharmaceutical applications.
The production of bio based solvents is a global phenomenon, and several regions around the world are actively involved in its production. However, the prominence of bio based solvents production can vary depending on factors such as access to feedstocks, market demand, government policies, and industry development. The Asia-Pacific region, particularly countries like China, Japan, and India, have witnessed significant growth in the production and utilization of bio-based solvents. These countries have abundant agricultural resources, which serve as feedstocks for bio-based solvents. Additionally, increasing environmental concerns and efforts to reduce dependence on fossil fuels have driven the adoption of bio based solvents market in the region.

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Global Bio Based Solvents Market Participants
o Astrobio
o Bio Brands LLC.
o Cargill, Incorporated.
o Circa Group
o Comindex, S.A.
o Corbion
o LIBERTY CHEMICALS SRL
o LyondellBasell Industries Holdings B.V.
o NXTLEVVEL Biochem BV
o Pennakem, LLC
o Sigma Aldrich
o Solvay
o The Dow Chemical Company
o Vertec BioSolvents Inc.
o Other Market Participants

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Global Bio Based Solvents Market Segmentation
Absolute Markets Insights has segmented the global bio based solvents market on the basis of type, application, end users, region further across 29 countries:

Global Bio Based Solvents Market Type Outlook (Revenue & Volume, USD Million & Million Units, 2015 - 2031)
o Bio-alcohols
 Bio-ethanol
 Bio-methanol
 Bio-propanol
 Bio-butanol
o Bio-glycols
o Bio-diols
o Ethyl lactate
o D-limonene
o Methyl soyate
o Others
Global Bio Based Solvents Market Application Outlook (Revenue & Volume, USD Million & Million Units, 2015 - 2031)
o Printing Inks
o Cleaners and Degreasers
o Adhesives
o Crop Protection
o Lubricants
o Others
Global Bio Based Solvents Market End User Industry Outlook (Revenue & Volume, USD Million & Million Units, 2015 - 2031)
o Automotive
o Manufacturing
o Agriculture
o Paints & Coatings
o Pharmaceutical
o Cosmetics and Personal Care Products
o Others

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Global Bio Based Solvents Market Regional Outlook (Revenue & Volume, USD Million & Million Units, 2015 - 2031)
o North America (U.S., Canada, Mexico, Rest of North America)
o Europe (France, The UK, Spain, Germany, Italy, Nordic Countries (Denmark, Finland, Iceland, Sweden, Norway), Benelux Union (Belgium, The Netherlands, Luxembourg), Rest of Europe)
o Asia Pacific (China, Japan, India, New Zealand, Australia, South Korea, Southeast Asia (Indonesia, Thailand, Malaysia, Singapore, Rest of Southeast Asia), Rest of Asia Pacific)
o Middle East & Africa (Saudi Arabia, UAE, Egypt, Kuwait, South Africa, Rest of Middle East & Africa)
o Latin America (Brazil, Argentina, Rest of Latin America)

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