Market Overview

The Green Solvent market is predicted to develop at a compound annual growth rate (CAGR) of 8.5% from 2024 to 2034, when it is projected to reach USD 4,374.83 Million in 2034, based on an average growth pattern. The market is estimated to reach a value of USD 1,953.27 Million in 2024.

SOURCE: We Market Research

A green solvent, also known as an eco-friendly solvent or sustainable solvent, is a type of chemical solvent that is designed and formulated to have minimal impact on the environment compared to traditional solvents. These solvents are typically derived from renewable resources such as biomass, agricultural products, or waste materials, or they may be synthesized using processes that minimize environmental harm.

The global green solvent market refers to the segment of the chemicals industry focused on environmentally friendly solvents that are derived from renewable resources or have minimal environmental impact compared to conventional solvents. These solvents are designed to reduce volatile organic compound (VOC) emissions, minimize toxicity, and contribute to sustainable practices across industries such as paints and coatings, adhesives, pharmaceuticals, and personal care products. The market encompasses the production, distribution, and adoption of green solvents driven by regulatory requirements, consumer demand for eco-friendly products, and advancements in green chemistry and technology.

Market Scope

Green Solvent Industry: Dynamics & Restrains

Market opportunity:

We Market Research: Green Solvent Dashboard

Our marketing platform offers a comprehensive dashboard that provides clients with valuable insights into market trends over the years. Included below is a sample image of our dashboard, and specific PDF logins will be furnished to grant access to this insightful tool.

Green Solvent Segmentation

Market- By Type Analysis

By Type, the Green Solvent market is categories into Bio-Alcohols, Bio-Glycols, Lactate Esters, D-Limonene, Methyl Soyate and Others. Bio-alcohols segments dominate the market with the largest share, accounting for over 32% of the market in 2023. Bio-alcohols are derived from renewable resources such as biomass feedstocks or agricultural residues. They are used as solvents in various applications including paints, coatings, and cleaning products.

The following segments are part of an in-depth analysis of the global Green Solvent market:

Green Solvent Industry: Regional Analysis

Europe Market Forecast

Europe dominates the global Green Solvent market, accounting for around 43% of the market share in 2023. Europe is a leading market for Green Solvents, characterized by robust regulatory frameworks promoting bio-based materials, sustainable manufacturing practices, and green chemistry innovations.

North America Market Statistics

North America holds a significant share in the global Green Solvent market, driven by stringent environmental regulations, advanced technology adoption, and strong demand from industries such as chemicals, coatings, and pharmaceuticals.

Asia Pacific Market Forecasts

Asia Pacific is the fastest-growing region for Green Solvents, driven by rapid industrialization, urbanization, and stringent environmental policies in countries like China, India, and Japan.

Middle East & Africa Market Statistics

MEA region shows moderate growth in the Green Solvent market, with increasing adoption in countries focusing on sustainable development and environmental conservation.

Key Market Players 

·       BASF SE

·       The Dow Chemical Company

·       Huntsman Corporation

·       Solvay S.A.

·       LyondellBasell Industries Holdings B.V.

·       Vertec BioSolvents Inc.

·       Cargill, Incorporated

·       BioAmber Inc.

·       Cremer Oleo GmbH & Co. KG

·       Gevo, Inc.

·       Other                                                                                               

1.      Global Green Solvent Market Introduction and Market Overview

1.1.    Objectives of the Study

1.2.    Global Green Solvent Market Scope and Market Estimation

1.2.1.Global Green Solvent Overall Market Size (US$ Bn) and Volume (Tons), Market CAGR (%), Market forecast (2024 - 2034)

1.2.2.Global Green Solvent Market Revenue Share (%) and Volume Share (%) and Growth Rate (Y-o-Y) from 2019 - 2034

1.3.    Market Segmentation

1.3.1.Type of Global Green Solvent Market

1.3.2.End-use of Global Green Solvent Market

1.3.3.Region of Global Green Solvent Market

2.      Executive Summary

2.1.    Demand Side Trends

2.2.    Key Market Trends

2.3.    Market Demand (US$ Bn) Analysis 2019 – 2023 and Forecast, 2024 – 2034

2.4.    Demand and Opportunity Assessment

2.5.    Market Dynamics

2.5.1.Drivers

2.5.2.Limitations

2.5.3.Opportunities

2.5.4.Impact Analysis of Drivers and Restraints

2.6.    Pricing Trends Analysis & Average Selling Prices (ASPs)

2.7.    Cost Tear Down Analysis

2.8.    Key Developments

2.9.    Porter’s Five Forces Analysis

2.9.1.Bargaining Power of Suppliers

2.9.2.Bargaining Power of Buyers

2.9.3.Threat of Substitutes

2.9.4.Threat of New Entrants

2.9.5.Competitive Rivalry

2.10. PEST Analysis

2.10.1.    Political Factors

2.10.2.    Economic Factors

2.10.3.    Social Factors

2.10.4.    Technology Factors

2.11. Value Chain / Ecosystem Analysis

2.12. Key Regulation

2.13. Production Process Overview

3.      Global Green Solvent Market Estimates & Historical Trend Analysis (2019 - 2023)

4.      Global Green Solvent Market Estimates & Forecast Trend Analysis, by Type

4.1.    Global Green Solvent Market Revenue (US$ Bn) and Volume (Tons) Estimates and Forecasts, by Type, 2019 - 2034

4.1.1.Bio-Alcohols

4.1.1.1.              Bio-Methanol

4.1.1.2.              Bio-Ethanol

4.1.1.3.              Others

4.1.2.Bio-Glycols

4.1.3.Lactate Esters

4.1.4.D-Limonene

4.1.5.Methyl Soyate

4.1.6.Others

5.      Global Green Solvent Market Estimates & Forecast Trend Analysis, by End-use

5.1.    Global Green Solvent Market Revenue (US$ Bn) and Volume (Tons) Estimates and Forecasts, by End-use, 2019 - 2034

5.1.1.Chemical Intermediate

5.1.2.Pharmaceuticals

5.1.3.Printing Inks

5.1.4.Paints & Coatings

5.1.5.Cosmetics & Personal Care

5.1.6.Other

6.      Global Green Solvent Market Estimates & Forecast Trend Analysis, by Region

6.1.    Global Green Solvent Market Revenue (US$ Bn) and Volume (Tons) Estimates and Forecasts, by Region, 2019 - 2034

6.1.1.North America

6.1.2.Western Europe

6.1.3.Eastern Europe

6.1.4.Asia Pacific

6.1.5.Middle East & Africa

6.1.6.Latin America

7.      North America Green Solvent Market: Estimates & Forecast Trend Analysis

7.1.    North America Green Solvent Market Assessments & Key Findings

7.1.1.North America Green Solvent Market Introduction

7.1.2.North America Green Solvent Market Size & Volume Estimates and Forecast (US$ Billion & Tons) (2019 - 2034)

7.1.2.1.   By Type

7.1.2.2.   By End-use

7.1.2.3.   By Country

7.1.2.3.1.     The U.S.

7.1.2.3.2.     Canada

7.1.2.3.3.     Mexico

8.      Western Europe Green Solvent Market: Estimates & Forecast Trend Analysis

8.1.    Western Europe Green Solvent Market Assessments & Key Findings

8.1.1.Western Europe Green Solvent Market Introduction

8.1.2.Western Europe Green Solvent Market Size & Volume Estimates and Forecast (US$ Billion & Tons) (2019 - 2034)

8.1.2.1.   By Type

8.1.2.2.   By End-use

8.1.2.3.        By Country

8.1.2.3.1.      Germany

8.1.2.3.2.      Italy

8.1.2.3.3.      U.K.

8.1.2.3.4.      France

8.1.2.3.5.      Spain

8.1.2.3.6.      Benelux

8.1.2.3.7.      Nordics

8.1.2.3.8.     Rest of W. Europe

9.      Eastern Europe Green Solvent Market: Estimates & Forecast Trend Analysis

9.1.    Eastern Europe Green Solvent Market Assessments & Key Findings

9.1.1.Eastern Europe Green Solvent Market Introduction

9.1.2.Eastern Europe Green Solvent Market Size & Volume Estimates and Forecast (US$ Billion & Tons) (2019 - 2034)

9.1.2.1.   By Type

9.1.2.2.   By End-use

9.1.2.3.        By Country

9.1.2.3.1.      Russia

9.1.2.3.2.      Hungary

9.1.2.3.3.      Poland

9.1.2.3.4.      Balkan & Baltics

9.1.2.3.5.     Rest of E. Europe

10.  Asia Pacific Green Solvent Market: Estimates & Forecast Trend Analysis

10.1. Asia Pacific Market Assessments & Key Findings

10.1.1.    Asia Pacific Green Solvent Market Introduction

10.1.2.    Asia Pacific Green Solvent Market Size & Volume Estimates and Forecast (US$ Billion & Tons) (2019 - 2034)

10.1.2.1.    By Type

10.1.2.2.    By End-use

10.1.2.3.    By Country

10.1.2.3.1. China

10.1.2.3.2. Japan

10.1.2.3.3. India

10.1.2.3.4. Australia & New Zealand

10.1.2.3.5. South Korea

10.1.2.3.6. ASEAN

10.1.2.3.7. Rest of Asia Pacific

11.  Middle East & Africa Green Solvent Market: Estimates & Forecast Trend Analysis

11.1. Middle East & Africa Market Assessments & Key Findings

11.1.1.   Middle East & Africa Green Solvent Market Introduction

11.1.2.   Middle East & Africa Green Solvent Market Size & Volume Estimates and Forecast (US$ Billion & Tons) (2019 - 2034)

11.1.2.1.    By Type

11.1.2.2.    By End-use

11.1.2.3.    By Country

11.1.2.3.1. UAE

11.1.2.3.2. Saudi Arabia

11.1.2.3.3. Turkey

11.1.2.3.4. South Africa

11.1.2.3.5. Rest of MEA

12.  Latin America Green Solvent Market: Estimates & Forecast Trend Analysis

12.1. Latin America Market Assessments & Key Findings

12.1.1.   Latin America Green Solvent Market Introduction

12.1.2.   Latin America Green Solvent Market Size & Volume Estimates and Forecast (US$ Billion & Tons) (2019 - 2034)

12.1.2.1.    By Type

12.1.2.2.    By End-use

12.1.2.3.    By Country

12.1.2.3.1. Brazil

12.1.2.3.2. Argentina

12.1.2.3.3. Colombia

12.1.2.3.4. Rest of LATAM

13.  Country Wise Market: Introduction

14.  Competition Landscape

14.1. Global Green Solvent Market Product Mapping

14.2. Global Green Solvent Market Concentration Analysis, by Leading Players / Innovators / Emerging Players / New Entrants

14.3. Global Green Solvent Market Tier Structure Analysis

14.4. Global Green Solvent Market Concentration & Company Market Shares (%) Analysis, 2023

15.  Company Profiles

15.1.      BASF SE

15.1.1.    Company Overview & Key Stats

15.1.2.    Financial Performance & KPIs

15.1.3.    Product Portfolio

15.1.4.    SWOT Analysis

15.1.5.    Business Strategy & Recent Developments

* Similar details would be provided for all the players mentioned below 

15.2.      The Dow Chemical Company

15.3.      Huntsman Corporation

15.4.      Solvay S.A.

15.5.      LyondellBasell Industries Holdings B.V.

15.6.      Vertec BioSolvents Inc.

15.7.      Cargill, Incorporated

15.8.      BioAmber Inc.

15.9.      Cremer Oleo GmbH & Co. KG

15.10.  Gevo, Inc.

15.11.  Others

16.  Research Methodology

16.1. External Transportations / Databases

16.2. Internal Proprietary Database

16.3. Primary Research

16.4. Secondary Research

16.5. Assumptions

16.6. Limitations

16.7. Report FAQs

17.  Research Findings & Conclusion