New Ceresana market study "Bio-based solvents
In the new market study "Bio-based solvents", the market research institute Ceresana expects growth in the global market for bio-based solvents. The biggest consumers are manufacturers of paints and coatings and producers of printing inks and cleaning agents.
Water is the best solvent, but it cannot do everything. Strong chemicals are often needed. Increasingly, industrial solvents are no longer produced only from coal, crude oil or natural gas, but from renewable raw materials. To reduce the ecological footprint, biogenic components are also increasingly being added to conventional petrochemical solvents. Ceresana's new Biobased Solvents Market Report forecasts that the production volume of biosolvents will increase significantly: Analysts expect annual growth of 3.4% worldwide, and even more than 5.0% in Asia. Sales generated from biosolvents are expected to rise to around $8.9 billion worldwide by 2032. Solvents are used in many industries: The largest consumers are manufacturers of paints and coatings, producers of printing inks, cleaning agents, and pharmaceutical, care and cosmetic products. In addition, solvents are also needed for adhesives, chemical manufacturing processes, cooling circuits, degreasing agents, cleaning agents and de-icing agents. In the case of bio-based solvents, the three sales markets of paints and coatings, cosmetics and cleaning agents accounted for around two-thirds of global sales in 2022. The coatings industry can use D-limonene, for example, which can be obtained from the waste peels of orange juice production, as a solvent. Ethyl acetate, one of the most important solvents for plastics and adhesives, can be produced from whey, a waste product from milk processing.
Petrochemical solvents are highly toxic in some cases. Volatile organic compounds (VOCs) are particularly problematic. In contrast, sustainable solvents made from biomass, while often even more expensive, are ideally harmless and biodegradable. In the latest Ceresana market study, "Bio-based Solvents," Chapter 1 is devoted to a comprehensive analysis of the global market for bio-based solvents - including forecasts up to 2032. The development of consumption and sales is explained for the regions of Western and Eastern Europe, North and South America, Asia-Pacific, the Middle East and Africa. Biosolvents consumption and sales are also broken down for each application area. In Chapter 2, the 16 countries with the largest solvent sales are considered individually. In each case, consumption and sales of biosolvents are shown. In addition, consumption is broken down for applications such as paints and coatings, printing inks, cleaning agents or adhesives. Chapter 3 provides useful company profiles of the most important manufacturers of bio-based solvents, clearly arranged according to contact details, sales, profit, product range, production sites and brief profile. Detailed profiles are provided by the most important 37 manufacturers.