Frequently asked questions
In 2022, the global Renewable Solvent Market is expected to be worth USD 3984.5 million.
The Renewable Solvent Market is estimated to increase at a CAGR of 5.30% between 2023 and 2030, reaching USD 6022.8 Million in 2030.
In 2022, ester-based solvents led the in the Renewable Solvent industry
In the Renewable Solvent Market, the plant-based sector controls market demand.
The construction sector held the largest and highest market share in 2022
In 2022, APAC will account for more than 40% of the Renewable Solvent Market
The top players include Neste, ASTROBIO, Nexant Inc., US Polychem, IHS Markit, InKemia Green Chemicals, Inc., Archer Daniels Midland Company
The primary drivers of the market include rising environmental consciousness and demand for sustainable solutions, stringent laws encouraging the use of eco-friendly solvents, and growing acceptance of renewable resources and bio-based products.
Price fluctuations and volatility in the market for renewable solvents, There is a scarcity of it, and it is more expensive than ordinary solvents. The main market obstacles are scaling up production and supply chain logistics.
The significant opportunities in the market are rising consumer awareness and demand for eco-friendly products, the expansion of renewable solvent uses in numerous industries, and government support and incentives for the development of renewable solvents.