Bio-solvents are renewable sources derived from plants, waste materials and crops. These renewable sources are sustainable and eco-friendly as compared to traditional solvents.
The chemical industry is widely increasing the adoption of bio-solvents to improve sustainability and reduce environmental impacts. These bio-solvents are widely used for paints, coatings, pharmaceuticals, cleaning products, adhesives, and sealants.
The bio-solvents are agricultural waste used to produce various techniques such as extraction, fermentation and distillation. Companies are raising the demand for bio-solvents to reduce toxicity and enhance biodegradability.
Pollution from various industries and factories is continuously increasing. Therefore, these industries are increasingly adopting these bio-solvents to reduce hazardous pollution. The key companies invest in research and development to enhance bio-solvents' capacity, performance and cost-effectiveness.
The bio-solvents not only protect the environment but also protect human life from harmful and toxic environments. The chemical industry can limit the risk by increasing the use of bio-solvents. Several companies restrict certain hazardous chemicals in human life, which surges the demand for bio-solvents.
Bio-solvents improve performance such as high solvency power, drying faster and reducing VOC emission. They increase product quality with zero chemicals and reduce costs. Due to these factors, consumers focus on eco-friendly alternatives compared to traditional ones.
Dow Chemical: Dow Chemical is a multinational company that produces a variety of bio-solvents for several industries. These industries are coatings, paints and adhesives. The company improve the quality of bio-solvents through their research activities. It helps them to reduce costs and enhance better performance.
Croda International: Another international company that develops bio-solvents for industries including cleaning products, personal care and industrial applications. The company develops bio-solvents from corn and sugar beat to limit environmental impact.
Clariant: The company produces bio-solvents for coating, cleaning and printing inks. The company promote sustainability to reduce carbon emission. They derived bio-solvents from corn, wheat and sugarcane wastes.
These are the few companies that improve sustainability and reduce carbon emissions for a safe and clean environment.
Bio-solvents, also known as green solvents, are widely used in a number of industries including paints & coatings, personal care products, pharmaceuticals, and other chemical industries. Conventional solvents have significant concentration of volatile organic compounds, which are also toxic in nature. Increasing concerns regarding emission of VOC is leading to considerable growth in consumption of bio-solvents across the globe. Majorly used bio-solvents include soy methyl esters, fatty acid esters, and PHA. Absence of VOC in bio-solvents makes them hazard-free and user-friendly. Bio-solvents find wide application in industrial and domestic cleaners, paints and coatings industries, and printing inks, personal care, and pharmaceuticals markets. Greater availability of biomass across the globe and known methods or processes of production technology support promising growth prospects for utilization of bio-solvents across the above-mentioned verticals. These solvents are available in the market at premium prices,due to some technical limitations such as increased production time compared to conventional solvents and high viscosity. However, due to growing preferences for utilization of bio-based products among manufacturers, the market is expected to grow between CAGR of 6% and 8% over the next five years.
The existing capacities of bio-based chemicals and their growing popularity among end-user segments are driving suppliers and manufacturers to opt for utilization of environment-friendly products in their processes. Many companies use the label ’bio-based’ for product differentiation. Advancements in technology, new product development initiatives, and shifting focus of companies from petroleum-based chemicals to bio-based chemicals are expected to drive growth in the market. DuPont, Vertec Biosolvents, BASF, the DOW Chemical Company, Gevo, and Myriant Corporation are some of the players in the market.