Volatility of Crude Oil Prices Encouraging End-user Segments to Adopt Green and Bio Solvents, Says Technavio
According to the latest research study released by Technavio,
the global green solvent and bio solvents market is expected to grow at
a CAGR of over 9% until 2020.
This research report titled ‘Global
Green Solvent and Bio Solvents Market 2016-2020’, provides an
in-depth analysis of market growth in terms of revenue and emerging
market trends. This market research report also includes up to date
analysis and forecasts for various market segments, including paintings
and coatings, printing inks, cleaning products, and adhesives and
sealants.
Request sample report: http://goo.gl/xYjhj7
“Chemicals used as reagents and solvents are components of crude oil.
Therefore, fluctuations in crude oil prices can affect the price of
conventional solvents. Plus, conventional solvents are hazardous to the
environment and human health. Volatility in crude oil prices has the
potential to result in additional cost implications for the producers of
these solvents,” said Chandrakumar Badala Jaganathan, one of Technavio’s
lead analysts for bio-chemicals
and bio-materials research.
“The healthcare industry, in particular, has generates large volumes of
data for record keeping, better patient care, and legislative
regulations. Technavio analysts note that most healthcare data is still
maintained in paper form, and this necessitates a need for rapid
digitization, keeping in mind the rapid rate of data proliferation in
modern healthcare. Electronic medical records, digital medical imaging,
and enhanced healthcare service delivery mechanisms such as telemedicine
will witness a heightened adoption of ITMaaS during forecast period,”
added Chandrakumar.
Global green and bio solvents market by type 2015
-
Paintings and coatings 42.18%
-
Printing inks 20.09%
-
Cleaning products 15.03%
-
Adhesives and sealants 10.89%
Source: Technavio research
Global green and bio solvents market in paints and coatings industry:
largest segment
The market for green and bio solvents in the paints and coatings
industry recorded a revenue of close to USD 2.75 billion in 2015. The
growing consumption of green and bio solvents in the paints and coatings
industry is because of increased environmental awareness. It has forced
paints and coatings manufacturers including powder coatings,
high-solids, and waterborne coatings to shift toward solvents that
contain less toxins and low VOC content. We expect the share of this
industry to increase significantly during the forecast period due to the
implementation of stringent restrictive coatings regulations that are
predicted to come into effect in the US and the EU during the forecast
period.
Global green and bio solvents market in printing inks industry
The market for green and bio solvents in the printing inks industry
reported a revenue of close to USD 1.31 billion in 2015. In the printing
inks industry, green and bio solvents are used to adjust the viscosity
of the inks. This also allows the ink to flow smoothly, without damaging
the printing rollers or sprayers. Several combinations of solvents are
selected for different types of ink based on printability, drying speed,
economy, and odor.
The global green and bio solvents market in the printing inks industry
will grow at a steady rate owing to the demand for printing inks across
the packaging industry, thereby increasing the overall consumption of
ink solvents.
Global green and bio solvents market in cleaning products industry
The market for green and bio solvents market in the cleaning products
industry was valued at around USD 980 million in 2015. Green and bio
solvents are used for industrial cleaning applications such as
mechanical cleaning of motor parts, cleaning bodywork or workpieces
before further surface treatment. These solvents are also used to remove
oily grease, metal swarf, dust, and other impurities and protect against
corrosion.
Green and bio solvents are necessary for cleaning high precision
mechanical parts such as ball bearings for proper functioning and
safety. The microelectronics industry uses electronic-grade solvents
(with very low levels of metal ions) to produce micro-circuitry and
clean sensitive components.
Global green and bio solvents market in adhesives and sealants
industry
The market for green and bio solvent in the adhesives and sealants
industry was valued at close to USD 710 million in 2015. Manufacturers
of bio-based products have to comply with different regulations mandated
by the EU and EPA to reduce greenhouse gas emissions. Vendors in regions
such as North America and Europe are therefore focusing on reducing VOC
emissions. VOC emissions can affect the quality and quantity of the
building material applied. Building materials when exposed to high
temperatures or high moisture levels emit high VOC. It has resulted in
the growing preference for hotmelts and water-based adhesives over
solvent-based products.
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About Technavio
Technavio
is a leading global technology research and advisory company. The
company develops over 2,000 pieces of research every year, covering more
than 500 technologies across 80 countries. Technavio has about 300
analysts globally who specialize in customized consulting and business
research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research
techniques to ascertain the size and vendor landscape in a range of
markets. Analysts obtain information using a combination of bottom-up
and top-down approaches, besides using in-house market modeling tools
and proprietary databases. They corroborate this data with the data
obtained from various market participants and stakeholders across the
value chain, including vendors, service providers, distributors,
re-sellers, and end-users.
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