SAN FRANCISCO, February 4, 2015 /PRNewswire/ --
New Market Research Reports Title 'Global Bio Solvents Market Analysis, Size And Segment Forecasts To 2020' has Been Added to GrandViewReseach.com Report Database
The global bio solvents market is expected to reach USD 9.31 billion by 2020, according to a new study by Grand View Research, Inc. Volatile petrochemical prices coupled with growing concerns regarding VOC presence in conventional solvents is expected to remain a key driving factor for global bio solvents market. Bio solvents have been gaining acceptance across key end-use industries and are expected to replace most of the conventional solvents on account of its biodegradability and toxic free properties. Increasing demand for green paints & coatings is expected to further complement the market growth. Increasing market penetration in pharmaceutical and cosmetic industries is also expected to have a positive influence on the market growth.
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For more information, tables and figures, visit - http://www.grandviewresearch.com/industry-analysis/bio-solvents-market
Lactate ester emerged as the leading product segment and accounted for 30% of total market volume in 2013. Increasing penetration of lactate esters in coatings, printing inks and industrial cleaning applications is expected to drive its demand over the forecast period. Growth of paints & coatings industry on account of increasing construction spending particularly in emerging markets of Asia Pacific and Latin America is expected to further drive its demand. Glycols are expected to be the fastest growing product segment at an estimated CAGR of 5.4% from 2014 to 2020. Positive outlook on global automotive industry is expected to fuel its demand over the next six years.
Further key findings from the study suggest:
Browse All Reports of This Category by Grand View Research @ http://www.grandviewresearch.com/industry/renewable-chemicals
For the purpose of this study, Grand View Research has segmented the bio solvents market on the basis of product, application and region:
Global Bio Solvents Product Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 - 2020)
Global Bio Solvents Applications Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 - 2020)
Global Bio Solvents Regional Outlook (Volume Kilo Tons; Revenue, USD Million, 2012 - 2020)
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