Global Green & Bio-based Solvents Market Growth, Share, Size, Trends and Forecast (2025 - 2031)

By Product;

Bio-based Methanol, Bio-based Ethanol, Bio-based Propanol, Bio-based Butanol, Bio-based Propylene Glycol, Ethyl Lactate, D-Limonene, Methyl Soyate and Others.

By Application;

Paints & Coatings, Printing Inks, Commercial & Domestic Cleaning, Adhesives & Sealants, Pharmaceutical, Cosmetics and Others.

By Geography;

North America, Europe, Asia Pacific, Middle East and Africa and Latin America - Report Timeline (2021 - 2031).
Report ID: Rn147866467 Published Date: January, 2025 Updated Date: February, 2025

Introduction

Global Green & Bio-based Solvents Market (USD Million), 2021 - 2031

In the year 2024, the Global Green & Bio-based Solvents Market was valued at USD 5,720.50 million. The size of this market is expected to increase to USD 8,432.54 million by the year 2031, while growing at a Compounded Annual Growth Rate (CAGR) of 5.7%.

The Global Green & Bio-based Solvents Market is experiencing significant growth as environmental regulations become stricter and demand for sustainable solutions increases. Green and bio-based solvents, derived from renewable resources such as plants and agricultural waste, offer a lower environmental impact compared to traditional petrochemical-based solvents. They are designed to reduce volatile organic compounds (VOCs) and other harmful emissions, aligning with global efforts to minimize pollution and enhance sustainability across various industries.

The market is driven by several factors, including heightened awareness about environmental issues, government incentives for adopting green technologies, and advancements in bio-based solvent formulations. Industries such as paints and coatings, adhesives, cleaning products, and pharmaceuticals are increasingly incorporating these solvents to meet regulatory requirements and consumer preferences for eco-friendly products. The transition towards green and bio-based solvents not only helps in reducing the carbon footprint but also enhances the overall safety of products used in industrial and consumer applications.

Geographically, the demand for green and bio-based solvents is witnessing notable growth in North America and Europe, where stringent environmental regulations and a strong focus on sustainability are prominent. In the Asia-Pacific region, rapid industrialization and increasing environmental concerns are also contributing to market expansion. Emerging economies in this region are adopting green technologies to address environmental challenges and improve their industrial practices, thereby creating new opportunities for market players.

Despite the positive outlook, the market faces challenges such as higher production costs and limited availability of raw materials for bio-based solvents. However, ongoing research and development efforts are aimed at overcoming these obstacles by improving the efficiency and cost-effectiveness of production processes. As technology advances and economies of scale are realized, the green and bio-based solvents market is expected to continue its growth trajectory, driving broader adoption and contributing to a more sustainable future.

  1. Introduction
    1. Research Objectives and Assumptions
    2. Research Methodology
    3. Abbreviations
  2. Market Definition & Study Scope
  3. Executive Summary
    1. Market Snapshot, By Product
    2. Market Snapshot, By Application
    3. Market Snapshot, By Region
  4. Global Green & Bio-based Solvents Market Dynamics
    1. Drivers, Restraints and Opportunities
      1. Drivers
        1. Environmental regulations boost demand
        2. Rising eco-conscious consumer preferences
        3. Growing green chemistry initiatives
        4. Innovations in bio-based formulations
        5. Government incentives and subsidies
      2. Restraints
        1. High production costs
        2. Limited raw material availability
        3. Regulatory compliance challenges
        4. Technological development gaps
        5. Market penetration barriers
      3. Opportunities
        1. Expanding industrial applications
        2. Increased R&D investments
        3. Emerging markets growth
        4. Sustainable packaging solutions
        5. Collaboration with green technology
    2. PEST Analysis
      1. Political Analysis
      2. Economic Analysis
      3. Social Analysis
      4. Technological Analysis
    3. Porter's Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of Substitutes
      4. Threat of New Entrants
      5. Competitive Rivalry
  5. Market Segmentation
    1. Global Green & Bio-based Solvents Market, By Product, 2021 - 2031 (USD Million)
      1. Bio-based Methanol
      2. Bio-based Ethanol
      3. Bio-based Propanol
      4. Bio-based Butanol
      5. Bio-based Propylene Glycol
      6. Ethyl Lactate
      7. D-Limonene
      8. Methyl Soyate
      9. Others
    2. Global Green & Bio-based Solvents Market, By Application,2021 - 2031 (USD Million)
      1. Paints & Coatings
      2. Printing Inks
      3. Commercial & Domestic Cleaning
      4. Adhesives & Sealants
      5. Pharmaceutical
      6. Cosmetics
      7. Others
    3. Global Green & Bio-based Solvents Market, By Geography, 2021 - 2031 (USD Million)
      1. North America
        1. United States
        2. Canada
      2. Europe
        1. Germany
        2. United Kingdom
        3. France
        4. Italy
        5. Spain
        6. Nordic
        7. Benelux
        8. Rest of Europe
      3. Asia Pacific
        1. Japan
        2. China
        3. India
        4. Australia & New Zealand
        5. South Korea
        6. ASEAN (Association of South East Asian Countries)
        7. Rest of Asia Pacific
      4. Middle East & Africa
        1. GCC
        2. Israel
        3. South Africa
        4. Rest of Middle East & Africa
      5. Latin America
        1. Brazil
        2. Mexico
        3. Argentina
        4. Rest of Latin America
  6. Competitive Landscape
    1. Company Profiles
      1. BASF SE
      2. Dow Chemical Company
      3. Clariant AG
      4. Evonik Industries AG
      5. Solvay S.A.
      6. Huntsman Corporation
      7. LyondellBasell Industries N.V.
      8. Eastman Chemical Company
      9. AkzoNobel N.V.
      10. Kao Corporation
  7. Analyst Views
  8. Future Outlook of the Market