Green & Bio-Solvents Market Segmentation:
Type Segment Analysis
The D-limonene segment is estimated to gain the largest market share of about 28% in the year 2035. The growth of the segment can be attributed to the increasing use of flavoring agents in all types of drinks and foods. The rising food and beverages industry across the world is driving the market segment growth. The growing use in the health industry is estimated to propel the market segment growth. D-limonene reduces cholesterol, and gastric issues, and acts as an antioxidant for skin irritation and sensitivity. Upsurging preference for eco-friendly products is driving the growth of the market segment. Additionally, increasing fungal disorders and the number of people suffering from cholesterol are propelling the market segment’s growth.
Application Segment Analysis
The paints and coatings segment is expected to garner a significant green & bio-solvents market share of around 26% in the year 2035. The rising use of the construction sector across the world with high infrastructure developments and government initiatives is estimated to propel the market growth. The increasing utilization of bio-solvents in the paints to dissolve various components in the formulation of paint is estimated to give the desired consistency which is propelling the market segment growth in the coming years. The growing use of paints and coatings in the automotive sector to enhance the glossy look of vehicles is driving the market segment growth. The increasing production of indoor and outdoor paints with growing infrastructure development is estimated to hike the market segment growth.
Our in-depth analysis of the global market includes the following segments:
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