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 less toxic compared to petroleum-based conventional solvents. This is the primary reason for manufacturers to shift toward adopting green and bio solvents.
The report has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
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.