Bio-Solvents Market Share

North American Market Forecast

North America industry is predicted to account for largest revenue share of 29% by 2037. The growth of the market can be attributed majorly to the growing investment in green chemistry as well as the rising development of renewable organic material along with the increasing consumption of biomass. As per research, the United States consumed around 4,835 trillion Btu (British thermal units) of energy derived from biomass in 2021. Further, the increasing demand for biofuels such as bioethanol and biodiesel as transportation fuels, and for heating and electricity generation is further assessed to boost the market growth. Biodiesel production in the United States accounted for 1.8 billion gallons in the year 2020, as per the United States Energy Information Administration.

APAC Market Statistics

The Asia Pacific bio-solvents market, amongst the market in all the other regions, is projected to hold the second largest share during the forecast period. The growth of the market can be attributed majorly to the prospering chemical paints & coatings, printing inks, pharmaceuticals, adhesives, cosmetics, and household care and other industries in the region as well as the increasing demand for green solvents from these end-use industries is projected to propel the demand for bio solvents in the region. The industrial growth in the region can be attributed to the economic growth in Asia and the Pacific region which bounced to 4.0% in 2022 and is expected to touch 4.3% in 2023.

Europe Market Forecast

Further, the market in Europe, amongst the market in all the other regions, is projected to hold a majority of the share by the end of 2037. The growth of the market can be attributed majorly to the rising societal as well as legislative initiatives for promoting the use of bio-based, biodegradable, products for eco-efficient processes in the region with the high acceptance for lighter bio-fuels, owing to the commitment to a greener economy is expected to boost the regional market growth.

Frequently Asked Questions (FAQ)

In the year 2025, the industry size of water-soluble polymer is evaluated at USD 2.32 billion.

The bio-solvents market size was over USD 2.23 billion in 2024 and is projected to reach USD 4.31 billion by 2037, growing at around 5.2% CAGR during the forecast period i.e., between 2025-2037. The growing demand for petrochemical replacement as well as the rising development of sustainable alternatives along with the rising concern about GHG emissions will drive the market growth.

North America industry is predicted to account for largest revenue share of 29% by 2037, propelled by growing investment in green chemistry as well as the rising development of renewable organic material along with increasing consumption of biomass.

The major players in the market are BASF SE, Marathon Petroleum Corporation, Archer Daniels Midland Company, Vertec Biosolvents Inc., Stepan Company, Solvay S.A., GF Biochemicals, The Dow Chemical Company, India Glycols Ltd., Liberty Chemicals srl, DuPont de Nemours, Inc.

Bio-Solvents Market Share