Research and Markets has announced the addition of the ‘Global Green and Bio-Solvents Market 2016 - 2020’ report to its offering.
The report forecasts the global green and bio-solvents market to grow at a CAGR of 8.47% during the period 2016 - 2020.
Green and bio-solvents are derived from agricultural sources, including corn, sugar cane, refined glycerin, soybean oil, lactic acid, bio-succinic acid, and other similar products. These solvents emit less volatile organic compounds (VOCs), are environmentally friendly, and are less toxic compared to petroleum-based conventional solvents. This is the primary reason for manufacturers to shift toward adopting green and bio-solvents.
According to the report, the need for greener and sustainable chemicals has increased the R&D of renewable feedstock. The processing of these feedstocks can help in obtaining platform molecules and down streaming end-products. Also, companies are increasingly preferring green and bio-solvents over conventional solvents.
Key players in the market include Archer Daniels Midland, BASF, BioAmber, Cargill, DuPont, Huntsman and Dow Chemical.
Adapted from press release by Rosalie Starling