Green & Bio-Solvents Market worth $1.5 billion by 2026 - Exclusive Report by MarketsandMarkets

CHICAGO, April 29, 2021 /PRNewswire/ -- According to the new market research report "Green & Bio-Solvents Market by Type (bio-alcohols, bio-diols, bio-glycols, lactate esters), End-Use Industry (industrial & domestic cleaners, paints & coatings, adhesives, printing inks, pharmaceuticals) and Region - Global Forecast to 2026", published by MarketsandMarkets, 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.

PDF Download: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=755

Browse 179 market data Tables and 51 Figures spread through 214 Pages and in-depth TOC on "Green & Bio-Solvents Market"

View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/green-bio-solvents-market-755.html

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 is the fastest-growing segment by type for Green & Bio-Solvents Market during the forecast period

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.