Research Insights on Global Green and Bio-Solvents Market

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Global Green and Bio-Solvents Market is Projected to Witness Substantial Growth by 2025

24 October 2018, The global Green and Bio-Solvents Market size is anticipated to showcase significant growth over the forecast period. Shift of industries towards green and bio-based products is projected to be one of the major market drivers. Rise in chemical pollution has forced governments from across the world to lay down stern regulations for protection of environment. Governments have formulated policies to reduce emission of Octadecylsilanized Silica (ODS), Volatile Organic Compound (VOC), and other hazardous air pollutants. This factor is expected to further stimulate market growth in the near future.

Conventional solvents use petrochemicals as raw materials. Green or bio-solvents, on the other hand, do not use traditional resources. Use of these products reduces over dependency on conventional petrochemical solvents and chemical exporting countries. Uncertainty over crude oil prices is expected to open new avenues for market players. Rising adoption of bio-based products over traditional alternatives is anticipated to facilitate market expansion in the years to come.

However, cost effective production is expected to pose a challenge for the growth of the green and bio-solvents market in the near future. There is a high cost difference between production process for traditional and bio-solvents, owing to limited availability of appropriate and advanced technologies. This is a key factor restraining the growth of the market.

Green and bio-solvents find applications in asphalt paving and roofing shingles. High VOC content in asphalt paving can harm environment. This factor is anticipated to bode well for global market expansion. Trends such as limited usage of VOC emitting products and encouragement for non-VOC products in several European countries are creating growth opportunities for the market. Applications in activities such as heavy oil and bitumen extraction from Canadian tar sands and replacement of petroleum solvents are anticipated to propel the market over the forecast period.

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