Extensive Funding Fuels Multiple Innovations in Bio-based Solvents, Finds Frost & Sullivan
Research activities focus on ensuring biodegradability, zero toxicity and recyclability of solvents
LONDON, Dec. 7, 2015 /PRNewswire/ -- Stringent regulations curbing volatile organic compound (VOC) emissions and increasing concerns over hazardous air pollutants from petrochemical-based solvents such as glycols and ethers are driving industries to shift to bio-based solvents. The increasing acceptance of these solvents, especially in the paints and coatings, printing inks and pharmaceutical sectors, is extending their scope of application to new industries.
New analysis from Frost & Sullivan, Bio-based Solvents–6-Dimensional Assessment, finds that the total market value of bio-based solvents is expected to reach $8.3 billion by 2020 at a compound annual growth rate of 7.6 percent from 2015 to 2020.
For complimentary access to more information on this research, please visit: http://ow.ly/VqkgG
The current lack of efficient technologies and optimised plant design for the large-scale processing of biomass is affecting the production of bio-based solutions. Further, the research fraternity is faced with the challenge of finding the right combination of criteria to select solvents for specific applications.
"Despite production issues, the increasing number of regulations dictating the need for environment-friendly alternatives to petroleum feedstock-based solvents will fuel advancements in cost-efficient biochemical production technologies," said TechVision Senior Research Analyst Isaac Premsingh. "Europe and North America will lead with regard to innovation, and technology transfer to Asia for cost-effective manufacturing will gather pace in the next five years."
These process developments will enable bio-based solutions to compete with traditional solvents in terms of performance, with significant value-adds such as low toxicity. Technology firms and research institutes have already started investing heavily in ensuring solvent biodegradability and zero discharge of environment and health hazards.
Developing recyclable paint formulations is another focus area among technology stakeholders. Research is particularly aimed at creating solvents that can act as coalescing agents for polyesters, polyacrylate and alkyds, which are the primary resin constituents of paints.
"Funding agencies are turning their attention to projects dedicated to formulating bio-based solvents for plastics, composites and green chemicals used in pharmaceuticals," stated Premsingh. "They are also allocating substantial investments for the discovery of renewable versions of traditional organic solvents."
This proliferation of research programs and the growing involvement of government and private institutions reflect the expanding footprint of bio-based solvents and the vast impact they will have on industrial operations in the long term.
Bio-based Solvents–6-Dimensional Assessment, a part of the TechVision subscription, evaluates bio-based solvents on the basis of market potential, IP intensity, funding, application potential, breadth of industries impacted and the impact on mega trends. The study classifies the various bio-based solvents and analyses their disruptive potential across various industries.
About Frost & Sullivan
Frost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today's market participants.
Our "Growth Partnership" supports clients by addressing these opportunities and incorporating two key elements driving visionary innovation: The Integrated Value Proposition and The Partnership Infrastructure.
- The Integrated Value Proposition provides support to our clients throughout all phases of their journey to visionary innovation including research, analysis, strategy, vision, innovation and implementation.
- The Partnership Infrastructure is unique as it constructs the foundation upon which visionary innovation becomes possible. This includes our 360 degree research, comprehensive industry coverage, career best practices as well as our global footprint of more than 40 offices.
For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community. Is your organisation prepared for the next profound wave of industry convergence, disruptive technologies, increasing competitive intensity, Mega Trends, breakthrough best practices, changing customer dynamics and emerging economies?
Contact Us: Start the discussion
Subscribe: Newsletter on "the next big thing"
Register: Gain access to visionary innovation
Bio-based Solvents–6-Dimensional Assessment
D6B6
Contact:
Julia Nikishkina
Corporate Communications – Europe
P: +7 (499) 213 0156
E: julia.nikishkina@frost.com
Twitter: @TechVision_FS
LinkedIn: www.frost.com/techvisionlinkedin
http://www.frost.com
http://www.frost.com/techvision
Share this article