Rising concerns over VOCs (or Volatile Organic Compounds) and different emissions has inspired many adhesive formulators to recycle solvents. They are now seen cutting down the use of solvent and switching to an environment friendly solvents. Eco –friendly fitting “replacements” for traditional solvents are no longer a distant future as robust evolutionary route is developing to quench this thirst. One of the most affordable and safer solution to handle the conventional solvent, the green/bio-based solvents make good green cleaner with greater cleaning value. They have replaced traditional solvents including methyl, toluene, mineral spirits and more.
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Benefits of Using Green Solvents
Green solvents lower the harmful environmental impacts. Besides minimizing toxicity, greater biodegradability, less VOC’s are produced during the manufacturing process of a product. These solvent also increase business advantages. This means lower disposable cost, unrivaled employee safety and the competence to promote “green goods or services.”
Factors Driving the Demand for Bio- Based Solvents
Some of the factors responsible for driving the current bio –based solvent industry market includes:
· Limited availability and growing prices of fossil resources have contributed to the growth of the renewable bio –based products.
· Policy amendments, specifically weather change diminution, sustainable manufacturing and increasing consumption volume, industrial regulation and job opportunities have also increased the future prospects of the market.
· Ever-changing customer preference depending on the demand to make sure sustainable product manufacturing and consumption.
Green Solvents Follows Green Chemistry Principles
The principles of “Green Chemistry” applicable to bio-based solvents asses the harmful impact on our environment. These principles act as a guiding force when it comes to minimizing environmental hazards and ensure overall sustainability. These principles include prevention, atom economy, building safer chemicals, real time evaluation for preventing pollution, design for degradation and more.
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Green Solvent Market Is Growing Worldwide
In terms of demography, the future of green solvent market looks promising in regions including North America, LAMEA, Asia – Pacific and Europe. Industry experts confirm that while in North America the market for bio-solvent is favorable, Asia –Pacific region too has great momentum. Increasing awareness among buyers for adoption of green solvent has boosted its sales the United State and Mexico. A market research report claims that the sector would register a CAGR of 6.2 percent during the forecast period 2015 – 2020. Countries such as Germany, United Kingdom, Netherlands, India, China and Japan are few of the many growing market for green solvents.
The green solvent manufacturing enterprises and research organizations are rolling out huge investment to enhance the future developments and technology of these solvents. Besides this, these funds are majorly used to produce green solvents with similar accomplishment as compared to traditional solvents yet cause no harm to the environment. This is benefiting both the market and the end-customer. To conclude, prominent market players including The Dow Chemical Company, BASF, DuPont, Vertec BioSolvents and many others are adopting innovative market strategies to stay ahead in the highly competitive marketplace.