BASF SE along with BTC Europe GmbH and NXTLEVVEL Biochem signed an agreement regarding the distribution of biobased and biodegradable solvents across Europe that are derived from levulinic acid.
Cargill Inc. and Virent, Inc. are working together to produce low-carbon biofuels and bio-based products by evaluating the use of Cargill’s corn dextrose as a feedstock.
Author Credits: Smruti Ranjan, Rajrani Baghel
Report ID: 3256
Published Date: Apr 25, 2023
Report Format: PDF, PPT
Frequently Asked Questions (FAQ)
Increasing adoption of bio-based solvents and stringent regulations imposed on chemical-based industrial solvents are the key factors driving the market growth.
The market size of green & bio-solvents is anticipated to attain a CAGR of 6% over the forecast period, i.e., 2023-2035.
Huge investment costs to start production and slow reaction rate are estimated to be the growth hindering factors for the market expansion.
The market in the North American region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.
The major players in the market are BASF SE, Archer Daniels Midland Co., Dow Chemical Company, Cargill Inc, Cremer Oleo GmbH & Co, Florida Chemical Company, Inc., Vertec Biosolvents Inc., Botaneco Inc., Shenzen Esun Industrial Co Ltd, and others.
The company profiles are selected based on the revenues generated from the product segment, the geographical presence of the company which determines the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by type, product, end user, and by region.
The D-limonene segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.