Technavio’s market study report, Global Green and Bio Solvents Market, 2016\u20132020, presents a detailed segmentation of the global green and biobased solvents market by type (lactate esters, methyl soyate solvents, alcohols, and D-limonene), by application (paints and coatings, printing inks, cleaning products, and adhesives and sealants), and by geography (Asia Pacific, Central and South America, Europe, North America, and Rest of the World). The key vendors in the market are Archer Daniels Midland (ADM, Chicago, IL), BASF (Ludwigshafen, Germany), BioAmber (Plymouth, MN), Cargill (Wayzata, MN), Dow Chemical (Midland, MI), DuPont (Wilmington, DE), and Huntsman (Salt Lake City, UT).<\/p>\n
Extensive research carried out by the analysts at Technavio has shown that the global green and biobased solvents market will grow at an impressive compound annual growth rate (CAGR) of more than 8% during the forecast period. Growing acceptance among numerous end-user industries is driving the market for green and biobased solvents globally. The need for greener and sustainable chemicals has increased the research and development of renewable feedstock. Moreover, most companies prefer green and biobased solvents over conventional chemical solvents. Also, green solvents use renewable raw materials as feedstock and emit less volatile organic compounds (VOCs). The low toxicity of green solvents has enabled their use in a variety of applications such as painting and coatings, printing inks, cleaning products, adhesives and sealants, pharmaceuticals, and agriculture chemicals, among others. The extensive applications of green and biobased solvents across various industries are likely to propel the growth prospects of the green and biobased solvents market during the forecast period.<\/p>\n
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