Green Solvents Market Size

Green Solvents Market size was over USD 5.57 billion in 2024 and is projected to exceed USD 10.71 billion by the end of 2037, witnessing over 5.3% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of green solvents is evaluated at USD 5.8 billion. The growth of the market can be attributed to their being biodegradable in nature, followed by the surging use of eco-friendly paints and coatings. As green solvents emit less volatile organic compounds (VOC) owing to which the major population these days prefers to use such solvents as of the rise in pollution. Such advantages are estimated to be the primary growth factor for the green solvents market in the forecast period. For instance, a recent estimate showed that emissions of VOCs decreased from 12,930 in 2018 to 11,880 tons in 2021 in the United States. In addition to this, the growing use of green solvents in various end-use industries such as automotive, pharmaceutical, industrial & domestic cleaners is another major factor that is estimated to propel the market growth over the projected time frame.

In addition to these, factors that are believed to fuel the market growth of green solvents include the rising trend of sustainability, along with increasing awareness in people for reducing carbon footprints. Since, traditional solvents highly impact the environment by creating air pollution and diseases such as lung infection, nausea, headache, and skin irritation. Therefore, the high level of air pollution and rising concern for environmental protection is anticipated to foster the demand for green solvents. The World Health Organization stated that in 2019, 99% of the world’s population was living in places where the WHO air quality guidelines levels were not met. Additionally, the growing promotion for adopting green products by various regulatory bodies is also predicted to present the potential for market expansion over the projected period.