#Renewable Solvent Market size

[businessindustry]

Renewable Solvent Market Survey Insights, Outlook and Forecast 2024-2032

The Reports and Insights, a leading market research company, has recently releases report titled “Renewable Solvent Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032.” The study provides a detailed analysis of the industry, including the global Renewable Solvent Market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Report Highlights:

How big is the Renewable Solvent Market?

The renewable solvent market size reached US$ 3.4 Billion in 2023. Looking forward, Reports and Insights expects the market to reach US$ 6.5 Billion by 2032, exhibiting a growth rate (CAGR) of 7.4% during 2024-2032.

What are Renewable Solvent?                                                                                                                                                                            

Renewable solvents are eco-friendly alternatives derived from renewable sources like plants, biomass, or agricultural byproducts, aiming to replace conventional, potentially harmful petroleum-based solvents. They boast lower toxicity, biodegradability, and reduced greenhouse gas emissions, making them a sustainable choice for industries such as cleaning products, coatings, and pharmaceuticals.

Request for a sample copy with detail analysis: https://www.reportsandinsights.com/sample-request/1727

What are the growth prospects and trends in the Renewable Solvent industry?

The renewable solvent market growth is driven by various factors and trends. The renewable solvent market is expanding due to growing environmental consciousness and the increasing adoption of sustainable practices. Demand is rising for renewable solvents sourced from bio-based materials like plants, biomass, and agricultural byproducts. These solvents offer advantages such as lower toxicity, biodegradability, and reduced greenhouse gas emissions compared to traditional petroleum-based solvents, making them appealing to industries such as cleaning products, coatings, and pharmaceuticals. As regulations become more stringent and consumer awareness increases, the global renewable solvent market is expected to keep growing. Hence, all these factors contribute to renewable solvent market growth.

What is included in market segmentation?

The report has segmented the market into the following categories:

By Type:

Bio-Alcohols

Bio-Diols

Methyl Soyate

Ethyl Lactate

Others

By Source:

Agricultural Waste

Forest Residues

Industrial Waste

Algae

Others

By Application:

Paints & Coatings

Cleaning & Degreasing

Adhesives & Sealants

Printing Inks

Pharmaceuticals

Others

By End-Use Industry:

Paints & Coatings

Pharmaceuticals

Personal Care & Cosmetics

Agriculture

Cleaning & Domestic

Others

Segmentation By Region:

North America:

United States

Canada

Asia Pacific:

China

India

Japan

South Korea

Australia & New Zealand

Association of Southeast Asian Nations (ASEAN)

Rest of Asia Pacific

Europe:

Germany

The U.K.

France

Spain

Italy

Russia

Poland

BENELUX (Belgium, the Netherlands, Luxembourg)

NORDIC (Norway, Sweden, Finland, Denmark)

Rest of Europe

Latin America:

Brazil

Mexico

Argentina

Rest of Latin America

The Middle East & Africa:

Saudi Arabia

United Arab Emirates

South Africa

Egypt

Israel

Rest of MEA (Middle East & Africa)

Who are the key players operating in the industry?

The report covers the major market players including:

Archer Daniels Midland Company

BASF SE

BioAmber Inc.

Cargill, Incorporated

DuPont de Nemours, Inc.

Elevance Renewable Sciences, Inc.

Genomatica, Inc.

Green Biologics Ltd.

Huntsman Corporation

LyondellBasell Industries N.V.

Pinova Holdings, Inc.

Solvay S.A.

The Dow Chemical Company

Vertec Biosolvents Inc.

View Full Report: https://www.reportsandinsights.com/report/Renewable Solvent-market

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[energyandpowertrends]

Ethanol Market: Role in Blending Mandates and Energy Security

The Ethanol Market size was valued at USD 99.68 billion in 2022 and is expected to grow to USD 150.67 billion by 2030 with a growing CAGR of 5.3% over the forecast period of 2023–2030.

Ethanol is an alcohol-based compound commonly used as a biofuel and in industrial, pharmaceutical, and consumer goods applications. With a key role in fuel blending, ethanol reduces emissions when mixed with gasoline, contributing to global sustainability goals. This market is witnessing growth from innovations in bioethanol production, including second-generation ethanol derived from non-food biomass, which increases feedstock flexibility and reduces environmental impact.

The ethanol market, segmented by type, source, purity, and application, is shaped by supportive government policies, advancements in biofuel technology, and growing demand for sustainable chemicals in everyday products.

Key Market Drivers

Rising Demand for Bioethanol: Bioethanol, derived from renewable sources, is increasingly used as a cleaner alternative to traditional fossil fuels.

Government Policies and Incentives: Policies supporting renewable energy and biofuel blending mandates are accelerating ethanol adoption.

Diverse Applications in Consumer Products: Ethanol’s uses in personal care, disinfectants, and industrial solvents fuel demand beyond the energy sector.

Technological Innovations: Advances in second-generation bioethanol from waste and non-food feedstocks are making production more sustainable.

Environmental Benefits: Ethanol’s role in reducing emissions and reliance on fossil fuels aligns with global sustainability objectives.

Market Segmentation

The ethanol market is segmented as follows:

By Type

Synthetic Ethanol: Produced from petrochemical processes, commonly used in industrial applications.

Bioethanol: Made from renewable biomass sources and widely used in fuel and eco-friendly applications.

By Source

Grain-Based: Primarily derived from corn and wheat, grain-based ethanol is a common form of bioethanol.

Second Generation: Produced from non-food biomass such as agricultural residues and waste, offering greater sustainability.

Sugar & Molasses-Based: Commonly produced in regions with high sugarcane production, such as Brazil.

By Purity

Denatured Ethanol: Ethanol treated with additives to make it unfit for consumption, primarily used as fuel and in industrial applications.

Undenatured Ethanol: Used in consumable products such as alcoholic beverages and certain pharmaceutical formulations.

By Application

Industrial Solvents: Ethanol’s solvent properties make it valuable for use in paints, coatings, and other industrial products.

Beverages: Ethanol is the active ingredient in alcoholic drinks and is carefully regulated for safe consumption.

Disinfectants and Personal Care: Ethanol’s antiseptic properties are widely used in sanitizers, cleaners, and personal care products.

Fuel & Fuel Additives: Ethanol is blended with gasoline to create cleaner-burning fuels that reduce carbon emissions.

Regional Analysis

North America: The U.S. leads in ethanol production, primarily from corn. Government mandates for ethanol blending in fuels and increasing biofuel adoption drive demand.

Europe: Ethanol’s role in achieving EU emissions reduction targets is vital, with strong demand for bioethanol in transportation and industry.

Asia-Pacific: With rapid urbanization and a growing focus on renewable energy, Asia-Pacific nations like China and India are expanding bioethanol production.

Latin America: Brazil is a major producer of sugarcane-based ethanol, and ethanol serves as a primary fuel source in the country’s transportation sector.

Middle East & Africa: While the market is nascent, the region is beginning to explore ethanol as a cleaner energy source.

Current Market Trends

Second-Generation Bioethanol Growth: With a focus on reducing reliance on food-based feedstocks, second-generation bioethanol production from waste biomass is increasing.

Increased Adoption in Personal Care: Ethanol’s antimicrobial properties are driving its use in sanitizers, personal care, and household products.

Government Support for Biofuel Blending: Global policies aimed at reducing carbon emissions are encouraging the use of ethanol in fuel.

Circular Economy Initiatives: Efforts to reduce waste are aligning with the growth of second-generation ethanol production, creating sustainable value chains.

R&D Investments in Sustainable Production: Continued investment in research for eco-friendly ethanol production technologies is a key trend shaping the market.

Conclusion

The global ethanol market is positioned for strong growth over the forecast period as it meets increasing demands for renewable energy, sustainable industrial solutions, and eco-friendly consumer products. With the advantages of reduced emissions and diverse applications, ethanol will continue to play a critical role in the energy transition and in supporting sustainable practices across industries.

Read Complete Report Details of Ethanol Market: https://www.snsinsider.com/reports/ethanol-market-2902

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[credenceresearchdotblog]

The Pelargonic Acid Market is projected to grow from USD 217.2 million in 2024 to an estimated USD 370.4 million by 2032, with a compound annual growth rate (CAGR) of 6.9% from 2024 to 2032.Pelargonic acid, also known as nonanoic acid, is a naturally occurring fatty acid with the chemical formula C9H18O2. It is a saturated fatty acid found in many plants and animal oils. As a bio-based, biodegradable, and environmentally friendly chemical, pelargonic acid has gained significant attention in recent years due to its versatile applications across various industries such as agriculture, cosmetics, pharmaceuticals, and industrial cleaning.

Browse the full report https://www.credenceresearch.com/report/pelargonic-acid-market

Market Growth Drivers

1. Agricultural Applications

One of the primary growth drivers for the pelargonic acid market is its use in agriculture as a bioherbicide and plant growth regulator. Pelargonic acid’s ability to inhibit weed growth without affecting soil quality has made it an attractive alternative to synthetic herbicides. With increasing awareness about the harmful effects of chemical herbicides on the environment, many countries have started adopting bio-based herbicides like pelargonic acid, boosting demand for the product in agriculture.

As the global demand for organic and sustainable farming practices continues to rise, the agricultural segment remains a crucial contributor to the pelargonic acid market. Organic farming and the reduced use of synthetic chemicals are gaining popularity, particularly in Europe and North America, further driving the demand for bio-based inputs like pelargonic acid.

2. Cosmetics and Personal Care Industry

The cosmetics and personal care industry is another significant growth area for the pelargonic acid market. Its use as an emollient, cleansing agent, and pH adjuster in skincare, haircare, and other cosmetic formulations has become widespread. Pelargonic acid’s ability to act as a mild surfactant makes it a preferred ingredient in natural and organic cosmetic products, which have seen an upswing in demand.

Consumers today are increasingly seeking products with natural ingredients, and companies are reformulating their offerings to cater to this trend. As the "clean beauty" movement continues to gain momentum, pelargonic acid is poised to play a larger role in the formulation of eco-friendly personal care products.

3. Industrial Applications

Pelargonic acid is used in a variety of industrial applications, including lubricants, coatings, and solvents. Its biodegradability and low toxicity make it an ideal ingredient for industries that require environmentally safe solutions. The demand for green chemicals is rising across various sectors as companies seek to reduce their environmental footprint and comply with stricter regulations on chemical use and emissions.

Additionally, pelargonic acid is utilized in the manufacturing of corrosion inhibitors, metalworking fluids, and plasticizers. Its growing use in these industrial applications is contributing to the expansion of the global market.

Challenges in the Pelargonic Acid Market

Despite the promising growth prospects, the pelargonic acid market faces several challenges. One of the primary obstacles is the relatively high production cost of bio-based pelargonic acid compared to its synthetic counterparts. This can limit its competitiveness in certain price-sensitive markets.

Moreover, the availability of raw materials for pelargonic acid production is another constraint. The acid is primarily derived from renewable sources like castor oil and sunflower oil, which are subject to fluctuations in supply and pricing due to weather conditions, geopolitical factors, and agricultural yield variability.

Another challenge is the limited consumer awareness of pelargonic acid and its benefits, particularly in regions where bio-based products are still gaining market penetration. Increasing consumer education and marketing efforts will be essential for broader adoption of pelargonic acid-based products.

Regional Outlook

The pelargonic acid market is geographically diverse, with North America and Europe being the largest regions in terms of demand. These regions have stringent environmental regulations and a strong emphasis on sustainability, driving the adoption of bio-based chemicals like pelargonic acid. Asia-Pacific is also emerging as a significant market, driven by the growth of the agriculture and personal care industries in countries like China and India.

Future Prospects

The future of the pelargonic acid market looks promising, with several trends likely to shape its growth trajectory. Increased research and development efforts to reduce production costs and enhance the performance of pelargonic acid-based products are expected to create new opportunities. Additionally, as governments worldwide continue to promote sustainable agriculture and greener industrial practices, the demand for pelargonic acid will likely rise.

The growing focus on circular economy models and bio-based chemicals will further propel the market, making pelargonic acid an integral part of the sustainable chemical industry. Companies that invest in innovation and sustainability will be well-positioned to capitalize on the market’s growth potential.

Key Player Analysis:

Central Drug House

Croda International Plc

Emery Oleochemical

Glentham Life Sciences Limited

Haihang Industry

Kunshan Odowell Co., Ltd

Matrica S.p.A

OQ Chemicals GmbH

Tokyo Chemical Industry Co., Ltd.

Zhengzhou Yibang Industry & Commerce Co., Ltd

Segmentation:

 By Type

PA 90 Content

PA 95 Content

PA Blends

By Grade

Natural

Synthetic

By Application

Herbicides and Pesticides

Food Additives

Pharmaceuticals

Cosmetics

Industrial Cleaning

Others (Fragrances, Plasticizers)

By Region

North America

US

Canada

Mexico

Europe

Germany

France

UK

Italy

Spain

Rest of Europe

Asia Pacific

China

Japan

India

South Korea

South-east Asia

Rest of Asia Pacific

Latin America

Brazil

Argentina

Rest of Latin America

Middle East & Africa

GCC Countries

South Africa

Browse the full report https://www.credenceresearch.com/report/pelargonic-acid-market

Contact:

Credence Research

Please contact us at +91 6232 49 3207

Email: sales@credenceresearch.com

Website: www.credenceresearch.com

[amrutatbrc1]

Dimethyl Carbonate Market : By Industry Trends, Leading Players, Size, Share, Growth, Opportunity And Forecast 2024-2033

The dimethyl carbonate global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.

Dimethyl Carbonate Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.

Market Size - The dimethyl carbonate market size has grown strongly in recent years. It will grow from <b>$1.08 billion in 2023 to $1.15 billion in 2024 at a compound annual growth rate (CAGR) of 6.3%. </b> The growth in the historic period can be attributed to demand for sustainable solvents, focus on renewable chemicals, biomedical research applications, specialty chemicals demand, shift towards green chemistry.

The dimethyl carbonate market size is expected to see strong growth in the next few years. It will grow to <b>$1.46 billion in 2028 at a compound annual growth rate (CAGR) of 6.2%. </b> The growth in the forecast period can be attributed to demand for battery electrolytes, automotive sector integration, advancements in biomedical applications, energy storage solutions demand. Major trends in the forecast period include regional market expansion, growing environmental awareness, shift towards green chemistry, stringent environmental regulations,substitute for harmful solvents.

Order your report now for swift delivery @ https://www.thebusinessresearchcompany.com/report/dimethyl-carbonate-global-market-report

The Business Research Company's reports encompass a wide range of information, including:

1. Market Size (Historic and Forecast): Analysis of the market's historical performance and projections for future growth.

2. Drivers: Examination of the key factors propelling market growth.

3. Trends: Identification of emerging trends and patterns shaping the market landscape.

4. Key Segments: Breakdown of the market into its primary segments and their respective performance.

5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.

6. Macro Economic Factors: Assessment of broader economic elements impacting the market.

Market Drivers - The increased demand for lithium-ion batteries is expected to propel the growth of the dimethyl carbonate market. The lithium-ion (Li-ion) battery is a modern technology that relies on lithium ions in its electrochemistry. Dimethyl carbonate is used as an electrolyte in lithium batteries to increase the octane number instead of MTBE (Methyl tart-butyl ether). For instance, in July 2021, according to an article published by the United Nations Department of Economic and Social Affairs, the Li-ion battery demand increased from 285 GWh in 2019 to 400 GWh in 2022. It is expected to reach 2,000 GWh in 2030, which is about 8% of the global energy supply. Therefore, increased demand for lithium-ion batteries is driving the growth of dimethyl carbonate.

Market Trends - Product innovation is a key trend gaining popularity in the dimethyl carbonate market. Major players in the dimethyl carbonate market are channelling their resources to develop innovative products to remain competitive in the market. For instance, in July 2021, Asahi Kasei, a Japan-based chemicals company, completed its first licensing deal for a technology package to produce high-purity ethylene carbonate (EC) and high-purity dimethyl carbonate (DMC), utilizing CO2 as one of the primary feedstocks. This license will aid in meeting the growing demand for high-purity EC and DMC, which are used as components of the electrolyte solution of lithium-ion batteries (LIBs) utilized in smartphones and electric cars.

The dimethyl carbonate market covered in this report is segmented –

1) By Grade: Industry Grade (>99.0 weight %) , Pharmaceutical Grade (>99.5 weight %) , Battery Grade (>99.9 weight %) 2) By Application: Polycarbonate Synthesis, Battery Electrolyte, Solvents, Reagents, Other Applications (Fuel Additives, Electrolyte for Supercapacitors, Electrolyte for Dye-synthesized Solar Cells) 3) By End-Use Industry: Plastics, Paints and Coating, Pharmaceutical, Battery, Agrochemicals, Other End-Use Industries (Adhesives & Sealants, Ink, Food & Beverages, and Energy)

Get an inside scoop of the dimethyl carbonate market, Request now for Sample Report @ https://www.thebusinessresearchcompany.com/sample.aspx?id=8355&type=smp

Regional Insights - Asia-Pacific was the largest region in the dimethyl carbonate market in 2023. The regions covered in the dimethyl carbonate market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Key Companies - Major companies operating in the dimethyl carbonate market report are Shandong Haike Chemical Industry Group Co. Ltd., Kowa American Corp., Shandong Wells Chemicals Co. Ltd., Qingdao Aspirit Chemical Co. Ltd., Shandong Feiyang Chemical Co. Ltd., Haike Chemical Group, Kindun Chemical Co.Limited, Hefei TNJ Chemical Industry Co.Ltd., Arrow Chemical Group Corp., Dongying City Longxing Chemical Co. Ltd., Hebei New Chaoyang Chemical Stock Co.Ltd., Shandong Depu Chemical Industry Science & Technology Co. Ltd., Dongying Hi-tech Spring Chemical Industry Co. Ltd, Aarsha Chemicals Private Limited, Tongling Jintai Chemical Industrial, UBE Industries, Tangshan Chaoyang Chemical Co. Ltd., Mitsubishi Chemical Corporation, Tokyo Chemical Industry Co. Ltd., Merck KGaA, Linyi Evergreen Chemical Co. Ltd., Akzo Nobel N.V., Alfa Aesar, Taizhou Lingyu Chemical Co. Ltd., Sigma-Aldrich Co. LLC, Dongying Jintan Chemical Co. Ltd., Luxi Chemical Group Co.Ltd., Dongying Xinyuan Chemical Co. Ltd., Dongying City Shuangma Chemical Co. Ltd., Dongying Dafeng Chemical Co. Ltd.

Table of Contents 1. Executive Summary 2. Dimethyl Carbonate Market Report Structure 3. Dimethyl Carbonate Market Trends And Strategies 4. Dimethyl Carbonate Market – Macro Economic Scenario 5. Dimethyl Carbonate Market Size And Growth ….. 27. Dimethyl Carbonate Market Competitor Landscape And Company Profiles 28. Key Mergers And Acquisitions 29. Future Outlook and Potential Analysis 30. Appendix

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[dh5ryxhgbctgr]

Water Based Zinc Vanadate Lithium Battery Market Trends and Future Growth Expectations 2024 - 2032

The transition towards renewable energy and sustainable technologies has spurred innovations in battery chemistry, including the development of water-based zinc vanadate lithium batteries. This article provides an in-depth analysis of the water-based zinc vanadate lithium battery market, discussing its definition, advantages, applications, market dynamics, challenges, and future trends.

Understanding Water-Based Zinc Vanadate Lithium Batteries

What are Water-Based Zinc Vanadate Lithium Batteries?

The water-based zinc vanadate lithium battery market is poised for substantial growth, driven by increasing demand for safe, efficient, and sustainable energy storage solutions. Water-based zinc vanadate lithium batteries are a type of rechargeable battery that utilizes zinc and vanadium compounds as active materials, combined with a lithium-ion framework. These batteries operate using an aqueous electrolyte, which reduces the risk of flammability compared to traditional lithium-ion batteries that use organic solvents. This innovative chemistry aims to enhance safety, sustainability, and efficiency in energy storage solutions.

Key Features of Water-Based Zinc Vanadate Lithium Batteries

Safety: The use of water-based electrolytes significantly lowers the risk of fire and thermal runaway, making these batteries a safer alternative to conventional lithium-ion batteries.

Environmental Sustainability: Zinc and vanadium are more abundant and environmentally friendly compared to other materials used in battery production, reducing the overall ecological footprint.

Cost-Effectiveness: The use of inexpensive raw materials and water as an electrolyte can lead to lower production costs, making these batteries more economically viable.

Market Overview

Market Size and Growth

The water-based zinc vanadate lithium battery market is poised for significant growth as the demand for safe, efficient, and sustainable energy storage solutions rises. Factors such as increased adoption of renewable energy sources, electric vehicles (EVs), and portable electronic devices are driving this market forward. Analysts project a robust compound annual growth rate (CAGR) over the next several years.

Key Market Drivers

Rising Demand for Renewable Energy Storage: The growing reliance on solar and wind energy necessitates efficient energy storage solutions, boosting the demand for advanced battery technologies.

Electric Vehicle Market Expansion: The shift towards electric vehicles and the need for safe and efficient battery systems in this sector is propelling the growth of zinc vanadate lithium batteries.

Government Initiatives: Many governments are implementing policies and incentives to promote the use of sustainable energy storage solutions, further driving the market.

Applications of Water-Based Zinc Vanadate Lithium Batteries

Key Applications

Electric Vehicles (EVs): These batteries are ideal for EV applications due to their safety and efficiency, offering a promising alternative to conventional lithium-ion batteries.

Renewable Energy Storage Systems: Water-based zinc vanadate lithium batteries can effectively store energy generated from renewable sources, providing a stable energy supply.

Portable Electronics: Their lightweight and efficient design make these batteries suitable for use in smartphones, laptops, and other portable electronic devices.

Grid Energy Storage: These batteries can support grid stabilization efforts by storing excess energy during low demand and releasing it during peak demand periods.

Competitive Landscape

Major Players

The water-based zinc vanadate lithium battery market features several key players, including:

Sion Power: A leader in advanced battery technology, Sion Power focuses on developing high-energy-density batteries, including zinc-based systems.

American Battery Technology Company (ABTC): ABTC is dedicated to developing sustainable battery technologies, including water-based zinc vanadate lithium batteries.

BASF: Known for its chemical innovations, BASF is exploring water-based battery technologies to enhance energy storage solutions.

Market Challenges

Despite the positive outlook, the water-based zinc vanadate lithium battery market faces several challenges:

Performance Limitations: While water-based batteries offer several advantages, they may have lower energy density compared to traditional lithium-ion batteries, which could limit their applications.

Material Availability: The sourcing of zinc and vanadium can be impacted by market fluctuations and supply chain issues, affecting production scalability.

Technological Development: Ongoing research is necessary to optimize the performance and lifespan of water-based zinc vanadate lithium batteries, requiring significant investment.

Future Trends

Innovations and Developments

The water-based zinc vanadate lithium battery market is expected to witness several emerging trends:

Advancements in Battery Chemistry: Research into improving the energy density and efficiency of zinc vanadate lithium batteries will likely lead to better performance metrics.

Integration with Renewable Energy Systems: As renewable energy adoption grows, the integration of water-based zinc vanadate lithium batteries with solar and wind energy systems will become more common.

Focus on Recycling and Sustainability: The development of efficient recycling processes for zinc and vanadium will enhance the sustainability profile of these batteries, making them more appealing to environmentally conscious consumers.

Collaborations and Partnerships: Increased collaboration between research institutions, governments, and industry players will accelerate innovation in water-based battery technologies.

Conclusion

While challenges such as performance limitations and material availability exist, ongoing innovations and a focus on sustainability present significant opportunities for market expansion. As the world transitions to renewable energy and electric vehicles, water-based zinc vanadate lithium batteries are set to play a crucial role in shaping the future of energy storage technology.

[rakshasns]

Pine-Derived Chemicals Market 2030 Segments, Trends and Analysis

Pine-Derived Chemicals to Reach USD 7.65 Billion by 2030, Growing at a CAGR of 4.62%

Global Pine-Derived Chemicals Size, Share, and Forecast Report 2023-2030

Introduction

The Pine-Derived Chemicals Market Size is projected to experience steady growth over the next decade, driven by increasing demand from diverse industries such as paints and coatings, adhesives, sealants, and more. Valued at USD 5.33 billion in 2022, the is expected to grow at a compound annual growth rate (CAGR) of 4.62%, reaching USD 7.65 billion by 2030. Pine-derived chemicals, which include products such as tall oil fatty acids (TOFA), tall oil rosin (TOR), gum turpentine, gum rosin, pitch, and sterols, are gaining attention for their environmentally friendly attributes and diverse industrial applications.

This press release provides an overview of the key factors driving growth, trends shaping the industry, segmentation by type and application, and regional insights as the pine-derived chemicals expands globally.

 Drivers and Growth Factors

Several factors are contributing to the rising demand for pine-derived chemicals worldwide:

Growing Demand for Sustainable and Eco-friendly Products: Pine-derived chemicals, obtained from pine trees as by-products of the pulp and paper industry, are recognized for their sustainable and renewable nature. As companies and consumers increasingly shift towards environmentally friendly solutions, the demand for pine-based chemicals is growing across multiple industries.

Expanding Applications Across Industries: Pine-derived chemicals are used in a variety of industrial applications, including paints and coatings, adhesives, sealants, surfactants, and printing inks. The versatility of these chemicals, combined with their biodegradability, has made them a preferred choice for manufacturers seeking sustainable raw materials.

Increasing Use in Adhesives and Sealants: Pine-derived chemicals such as gum rosin and TOFA are widely used as raw materials in the production of adhesives and sealants. The construction, packaging, and automotive industries are seeing growing demand for bio-based adhesives, which is further driving the use of pine-derived chemicals.

Rising Popularity of Bio-based Surfactants: Surfactants, widely used in detergents, personal care products, and industrial cleaning agents, are seeing a shift towards bio-based alternatives. Pine-derived chemicals, particularly tall oil derivatives, are being utilized to create eco-friendly surfactants, contributing to the ’s growth.

Innovation in Extraction and Processing Technologies: Continuous advancements in extraction and refining processes are enabling more efficient production of pine-derived chemicals. As the technology to extract valuable chemicals from pine trees improves, the availability and quality of pine-based products are also expected to rise.

 Segmentation

The global pine-derived chemicals can be segmented by type, application, source, process, and region.

By Type:

Tall Oil Fatty Acids (TOFA): TOFA is one of the most widely used pine-derived chemicals and is primarily used in the production of alkyd resins, adhesives, and surfactants. Its demand is growing in industries looking for bio-based alternatives to petrochemicals.

Tall Oil Rosin (TOR): TOR is a versatile product used in various applications such as adhesives, coatings, and inks due to its excellent film-forming properties and high adhesive strength.

Gum Turpentine: Derived from the distillation of resin, gum turpentine is used as a solvent in paints, varnishes, and chemical intermediates. It is also widely used in the fragrance and flavor industries.

Gum Rosin: Gum rosin, another major pine-derived chemical, is commonly used in adhesives, rubber, and printing inks. Its sticky and water-resistant properties make it essential for various industrial applications.

Pitch: Pitch is primarily used in heavy-duty industrial applications such as road surfacing, waterproofing, and as a binder in briquettes.

Sterols: Pine sterols, extracted from tall oil, are increasingly used in pharmaceuticals, cosmetics, and food supplements due to their health benefits, including cholesterol reduction.

By Application:

Paints & Coatings: Pine-derived chemicals are widely used in the formulation of eco-friendly paints and coatings, particularly in the construction and automotive sectors. The demand for sustainable paints with lower volatile organic compounds (VOCs) is driving the growth of pine-based resins and solvents.

Adhesives & Sealants: Gum rosin and TOFA are essential components in the production of adhesives and sealants, particularly in the packaging, construction, and automotive industries. The growing demand for sustainable and high-performance adhesives is bolstering expansion.

Surfactants: The use of pine-derived chemicals in surfactants is rising as industries shift towards biodegradable and bio-based cleaning agents, detergents, and personal care products.

Printing Inks: Pine-based resins, particularly gum rosin, are used in the production of printing inks, offering excellent adhesion and gloss. The growing demand for sustainable packaging and printing solutions is supporting the ’s growth.

By Source:

Pine Trees: Pine-derived chemicals are extracted from different parts of the pine tree, including resin, wood, and needles. The chemical composition varies depending on the part of the tree used, but the majority of commercial products are derived from resin.

By-products of Pulp and Paper Industry: Tall oil, one of the main sources of pine-derived chemicals, is a by-product of the kraft pulping process. The recovery and processing of these by-products are gaining traction as an important part of sustainable chemical production.

By Process:

Distillation: Distillation is one of the most common processes used to extract and refine pine-derived chemicals, particularly gum rosin, turpentine, and tall oil. This method ensures high-quality products with minimal impurities.

Fractionation: Fractionation is a refining process used to separate different components from tall oil, enabling the production of specialized products such as TOFA, sterols, and pitch.

Regional Outlook

North America: North America holds a significant share of the global pine-derived chemicals , driven by the region’s large forestry industry and increasing demand for bio-based products in sectors such as construction, automotive, and packaging. The U.S. and Canada are key producers of pine-derived chemicals, benefiting from advancements in refining processes and a strong focus on sustainability.

Europe: Europe is the second-largest for pine-derived chemicals, with countries like Sweden, Finland, and Germany leading the way. The European is driven by stringent regulations on environmental sustainability and the growing demand for eco-friendly alternatives in various industries, including paints, adhesives, and personal care.

Asia-Pacific: The Asia-Pacific region is expected to witness the fastest growth during the forecast period. The rising demand for pine-derived chemicals in rapidly developing industries such as construction, automotive, and packaging, particularly in China and India, is fueling expansion. Increasing investments in sustainable production practices are also contributing to the region's growth.

Latin America and Middle East & Africa: These regions are emerging s for pine-derived chemicals, with growing awareness of sustainable solutions and an increasing demand for bio-based products across various industrial sectors.

Trends Shaping the Future of the Pine-Derived Chemicals

Rising Demand for Bio-based Chemicals: As industries seek to reduce their reliance on petrochemicals, the demand for bio-based alternatives, such as pine-derived chemicals, is expected to grow. This trend is particularly pronounced in industries such as packaging, adhesives, and personal care.

Technological Advancements in Extraction and Refining: Innovations in extraction and refining processes are helping manufacturers produce higher-quality pine-derived chemicals at lower costs. These advancements are expected to drive growth by improving the efficiency and sustainability of production.

Shift Towards Sustainable and Eco-friendly Products: Consumers and industries alike are increasingly favoring products that are biodegradable, renewable, and environmentally friendly. This trend is driving the adoption of pine-derived chemicals across a variety of industries.

Key Players

Several key players are driving the growth of the pine-derived chemicals , including:

Kraton Corporation

Eastman Chemical Company

Harima Chemicals Group

Georgia-Pacific Chemicals

Ingevity Corporation

These companies are investing in research and development, product innovation, and sustainable practices to expand their presence and meet the growing demand for eco-friendly pine-derived chemicals.

Conclusion

The global pine-derived chemicals is poised for steady growth over the next decade, driven by increasing demand for bio-based products, expanding applications across various industries, and advancements in extraction and refining technologies. With a projected CAGR of 4.62% from 2023 to 2030, the is expected to reach USD 7.65 billion by 2030, offering ample opportunities for innovation and expansion.

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Foam Tape Market — Forecast(2024–2030)

Foam Tape market size is forecast to reach $18.6 billion by 2030, after growing at a CAGR of 6.3% during the forecast period from 2024–2030.

The prime driver for the growth of foam tape market is increasing usage of foam tape in various industries including transportations, electrical and electronics, and building and construction; increased demand from developing nations of APAC region especially in China and India; and wide applications of acrylic based foam tapes. The report covers Foam Tape Market size by type and Technology, Foam Tape Market share by top 5 companies and also the market share by start-ups during the forecast period.

Foam tape serves as a versatile solution for sealing and bonding requirements across diverse industries, thanks to its exceptional dampening, cushioning, and gasketing properties. It provides effective protection against solvents, ultraviolet rays, and moisture. Additionally, double-coated foam tapes, featuring adhesive on both sides, are employed for mounting applications.

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For years, adhesive tape has been a staple in packaging and labeling. Yet, as environmental concerns mount, traditional plastic tapes face scrutiny for their ecological impact. In response, eco-conscious adhesive tape has emerged as a viable alternative, gaining momentum in the packaging sector. Crafted from renewable sources or recycled materials, these tapes offer a sustainable solution. 

They can be easily recycled or biodegraded post-use, presenting a host of advantages, from shrinking carbon footprints to curbing plastic waste. Embracing these eco-tapes allows businesses to showcase their dedication to environmental stewardship while meeting consumer demand for eco-friendly packaging. Among the most favored variants is biodegradable tape, fashioned from plant-derived elements like cornstarch, bamboo, or hemp. These tapes boast compostable properties, aligning with eco-goals, and perform comparably to traditional plastic counterparts.

Type of Adhesives — Segment Analysis

Acrylic segment held the largest share in the foam tape market in 2023 due to huge internal strength and good flexibility reducing peeling stress. eco-friendly concept, shock absorption capability, and good anti-aging properties, good anti-vibration properties, long-term holding power, excellent resistance to moistures & solvents, and excellent conformity are some of the factors driving the demand of acrylic foam tape market.

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Product Type — Segment Analysis

Double sided foam tapes segment held the largest share in the foam tape market in 2023. Double sided foam tapes are more preferable over single sided due to its excellent properties including high-strength, long-term adhesion for both indoor and outdoor applications, design gap compensation, and excellent dampening properties.

End Use Industry — Segment Analysis

Transportation sector has been the primary market for foam tape market with market share of more than 37% in 2023. Growing automotive vehicle demand especially in APAC region is expected to drive the foam tape demand in automotive sector.

China is APAC’s largest consumer of foam tapes due to widening applications in automotive and building & construction. China has the largest automotive industry in the world and one of the largest civilian aircraft markets. According to OICA, China held 33 percent share in global passenger cars sales in 2022. India also has excellent potential for automotive industry growth in the future. The country’s automotive industry produces 25.9 million vehicles in April 2022-March 2023, which is 3 million more than the previous period. With more than 283 million vehicles registered in the U.S., which is 19% of the total vehicles in the world, there will be tremendous demand for foam tapes in the automotive application.

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Geography — Segment Analysis

APAC dominated the foam tapes market with a share of more than 40% in 2023, followed by North America and Europe. The economy of APAC is mainly influenced by the economic dynamics of countries such as China and India, but with growing foreign direct investment for economic development of South East Asia, the current scenario is changing. Countries in South East Asia are witnessing high growth in the aviation and automotive industries. According to OICA, automotive production in Malaysia, Indonesia and India witnessed a growth of 48%, 31% and 24% respectively in 2022, with South East Asian countries having huge potential to grow.

Foam Tape Market Drivers

Increasing penetration of foam tapes in various industries including automotive, building & construction, and electrical & electronics

Automotive is the major end use industries where foam tapes are using for numerous applications including sound dampening, insulating, gasketing, cushioning/padding, and sealing. Thus, the growth in automotive sector is expected to fuel the demand of foam tapes in coming years. Further, building & construction and electrical & electronic industry offers good growth potential for foam tapes. APAC region is the major market for automotive, building & construction, and electrical & electronics industries; which growing with above average growth and offers plenty of opportunity for foam tape market.

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Green & Bio-solvents Market Size to Expand Significantly by the End of 2030

As the world turns its focus towards sustainability and environmental consciousness, the chemical industry is experiencing a paradigm shift. One of the most promising developments in this space is the rise of the Green & Bio-solvents Market. Green solvents, often derived from renewable resources like plant materials, and bio-solvents, designed to reduce environmental impact, are redefining how industries approach solvent use. This shift is not only vital for minimizing pollution but also offers significant opportunities for businesses to adopt eco-friendly alternatives.

What are Green and Bio-solvents?

Green solvents are environmentally friendly alternatives to traditional solvents, which are often derived from petroleum-based resources and can be harmful to both human health and the environment. Bio-solvents are a subset of green solvents and are typically derived from renewable biological sources, such as corn, sugarcane, or other agricultural by-products. These solvents are designed to break down more easily in the environment, reducing toxic residues and harmful emissions.

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Common types of green and bio-solvents include:

Bioethanol

Lactic Acid

Ethyl Lactate

D-Limonene

Glycerol

Market Overview and Growth Drivers

The global green & bio-solvents market is growing at a rapid pace, driven by a combination of regulatory pressures, consumer demand, and corporate sustainability initiatives. Several factors contribute to the expanding market:

Stringent Environmental Regulations: Governments and regulatory bodies worldwide are implementing stricter environmental regulations, pushing industries to move away from traditional solvents that are volatile organic compounds (VOCs) and contributors to pollution.

Rising Demand for Eco-friendly Products: Industries such as pharmaceuticals, agriculture, paints and coatings, and food processing are adopting green solvents to meet consumer demands for sustainable and environmentally friendly products.

Technological Innovations: Advances in biotechnology and green chemistry are leading to the development of more efficient and cost-effective bio-solvents, making them more competitive with traditional solvents.

Growing Awareness of Health and Environmental Hazards: Traditional solvents are often associated with negative health effects, such as respiratory problems, skin irritation, and long-term toxicity. Bio-solvents offer a safer alternative for workers and the environment.

Key Industry Applications

Paints & Coatings: One of the largest markets for bio-solvents, these are used as replacements for petroleum-based solvents in paints, inks, and varnishes. Bio-based solvents help reduce harmful emissions of VOCs, making the production and application processes safer.

Pharmaceuticals & Cosmetics: The pharmaceutical industry benefits from bio-solvents in drug manufacturing, where purity and safety are critical. Bio-solvents are also increasingly popular in cosmetics, where consumers prefer natural, chemical-free products.

Agrochemicals: Bio-solvents are used in pesticide formulations to reduce the toxic load on the environment. They help in making agrochemical production greener and more sustainable.

Cleaning & Degreasing Products: Green and bio-solvents are key ingredients in biodegradable cleaning products. They offer effective cleaning without the negative environmental impacts of traditional chemical solvents.

Regional Insights

The green and bio-solvents market is growing worldwide, but some regions stand out:

North America: The U.S. and Canada are leading in terms of innovation and adoption, with stringent environmental policies driving the shift towards green chemicals. The presence of major bio-solvent producers is also boosting the market.

Europe: Europe, especially countries like Germany and France, is at the forefront of adopting sustainable solutions. The European Union's strong environmental regulations and consumer preference for eco-friendly products contribute to the growth in this region.

Asia-Pacific: The APAC region, particularly China and India, is experiencing a surge in demand for bio-solvents due to their large industrial sectors. Government initiatives promoting sustainability are fostering the growth of this market.

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Challenges Facing the Market

Despite its promising future, the green & bio-solvents market faces several challenges:

High Production Costs: Bio-solvents are often more expensive to produce than traditional solvents, making them less attractive to cost-sensitive industries.

Limited Awareness: In some regions, the benefits of green and bio-solvents are not widely understood, which can limit market penetration.

Performance Gaps: While bio-solvents are improving, they may not always match the performance of traditional solvents, particularly in specialized industrial applications.

The Road Ahead

The future of the green & bio-solvents market is promising, with continued growth expected as industries, governments, and consumers push for more sustainable practices. Ongoing research and development will likely lead to further innovations that improve the efficiency, cost-effectiveness, and performance of bio-solvents.

As the world continues to grapple with environmental challenges, the shift toward green chemistry and the broader adoption of bio-solvents represent a crucial step in reducing our chemical footprint. In an era where sustainability is no longer optional but essential, the green & bio-solvents market is set to play a pivotal role in shaping the future of multiple industries.

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Ethanol Market Growth Projections: Industry to Reach US$ 166.6 Billion by 2034

The ethanol industry, valued at US$ 94.6 billion in 2023, is projected to grow at a CAGR of 5.3% from 2024 to 2034, reaching US$ 166.6 billion by 2034.

The global ethanol market is set for significant growth between 2024 and 2034, driven by the rising demand for biofuels and sustainable alternatives to fossil fuels. Ethanol, commonly derived from biomass like corn and sugarcane, plays a crucial role in reducing greenhouse gas emissions in the transport sector. Its use as a renewable fuel additive in gasoline, along with applications in the beverage, pharmaceutical, and industrial sectors, positions ethanol as a key component of the green energy transition.

Increase in use of ethanol as biofuel and rise in demand for alcoholic beverages are propelling the ethanol market size. Ethanol is a colorless, flammable liquid used in multiple industries, including cosmetics, fuel, beverages, and industrial solvents.

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Market Segmentation

By Service Type:

Fuel Ethanol

Industrial Ethanol

Beverage Ethanol

Pharmaceutical Ethanol

By Sourcing Type:

Conventional Ethanol (corn, sugarcane)

Cellulosic Ethanol (biomass, crop waste)

By Application:

Automotive (biofuels)

Alcoholic Beverages

Pharmaceuticals

Chemicals and Industrial Uses

By Industry Vertical:

Energy and Transportation

Food and Beverage

Healthcare

Chemicals

By Region:

North America

Europe

Asia-Pacific

Latin America

Middle East & Africa

Regional Analysis

North America: The region, particularly the United States, dominates ethanol production, accounting for a significant portion of the global market. Favorable government mandates, such as the Renewable Fuel Standard (RFS), and abundant feedstocks like corn have supported strong growth. Canada also presents increasing opportunities due to its climate change policies.

Europe: Stringent environmental regulations aimed at reducing carbon emissions have driven the adoption of ethanol as a biofuel. Countries like Germany, France, and the UK are focusing on blending ethanol with conventional fuels, boosting demand.

Asia-Pacific: The region represents a rapidly expanding market, led by countries like China, India, and Thailand. The push for energy independence, coupled with growing environmental awareness, has fueled ethanol production and consumption. Significant investments in ethanol infrastructure and blending programs support future growth.

Latin America: Brazil remains a dominant player, with ethanol derived from sugarcane contributing substantially to its energy matrix. Ethanol is a primary transportation fuel in Brazil, and the region’s expertise in biofuel production is a key market driver.

Middle East & Africa: While a smaller market, the region is increasingly exploring ethanol production and importation to meet sustainable energy targets.

Market Drivers and Challenges

Drivers:

Government Policies: Incentives for biofuels and renewable energy, especially in North America and Europe.

Environmental Concerns: Growing awareness of climate change and carbon emissions reduction targets are pushing demand for ethanol as a sustainable alternative.

Technological Innovations: Advances in ethanol production, such as cellulosic ethanol from non-food biomass, offer greater sustainability and resource efficiency.

Challenges:

Feedstock Availability: Dependence on crops like corn and sugarcane can cause price volatility due to competition with food production.

Infrastructure: Inadequate infrastructure for ethanol storage and distribution, especially in emerging markets, could hinder growth.

Environmental Impact: Ethanol production still requires water and energy, and land-use concerns may arise with large-scale biomass farming.

Market Trends

Biofuel Blending Policies: Governments are setting higher ethanol blending mandates to reduce carbon footprints, especially in transportation.

Growth in Cellulosic Ethanol: This form of ethanol, made from non-food sources like crop residues and grasses, is gaining traction as a more sustainable option.

Electrification Competition: While ethanol is a key player in the biofuel market, the rise of electric vehicles poses competition in the automotive sector.

Sustainability Focus: Consumers and industries are seeking greener production methods and lower carbon footprints, driving the demand for ethanol made from waste materials and non-food crops.

Future Outlook

Over the next decade, the ethanol market is set to expand significantly, fueled by the demand for cleaner energy alternatives. Innovations in feedstock and production methods will make ethanol an increasingly attractive option in the global effort to curb carbon emissions. Growth in developing economies, particularly in Asia-Pacific and Latin America, will further contribute to market expansion. However, challenges such as feedstock competition and infrastructure development must be addressed to ensure sustained growth.

Key Market Study Points

Understanding regional production dynamics, with the U.S. and Brazil being dominant players.

Evaluating technological advancements, especially in cellulosic ethanol production.

Assessing the impact of government policies and environmental regulations.

Monitoring competition from electric vehicles in the automotive sector.

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Competitive Landscape

The ethanol market is highly competitive, with key players focusing on expanding production capacities and investing in research and development for sustainable production methods. Leading companies include:

Archer Daniels Midland Company (ADM)

POET LLC

Valero Energy Corporation

Green Plains Inc.

BP Plc

Petrobras

Royal Dutch Shell Plc

Tereos Group

These companies are leveraging partnerships, technological advancements, and mergers to gain market share and address challenges in feedstock availability and production efficiency.

Recent Developments

2023: POET announced the expansion of its cellulosic ethanol production capabilities, utilizing agricultural waste for more sustainable fuel production.

2024: Green Plains Inc. entered into a strategic partnership with a leading biotech firm to enhance ethanol production efficiency using enzyme technology.

2025: The European Union announced new biofuel blending regulations, mandating a minimum of 10% ethanol in gasoline across member states by 2030.

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Microcrystalline Cellulose Market To Reach $1,805.06 Million By 2030

The global microcrystalline cellulose market size is anticipated to reach USD 1,805.06 million by 2030, registering a CAGR of 6.3% during the forecast period, according to a new report by Grand View Research, Inc. microcrystalline cellulose (MCC) is valued for its properties, such as being a versatile excipient in pharmaceuticals, a stabilizer & thickener in personal care & cosmetics, and an effective binder & filler in food & beverages. In addition, as the popularity of natural and sustainable ingredients grows, MCC derived from renewable resources like wood pulp is preferred over synthetic alternatives, further driving the market.

Microcrystalline cellulose is typically produced through controlled hydrolysis of cellulose, which can be sourced from various natural sources such as wood pulp, cotton, or other plant fibers. The process involves treating cellulose with mineral acids or enzymes to break down with cellulose fibers into crystalline particles. Enzymatic hydrolysis, advanced processing, green solvents, and nanotechnology are some of the technological advancements in the current market scenario.

The increasing usage of the product in the personal care & cosmetics sector is one of the major driving factors for the consumption of MCC over the coming years. MCC is utilized in the personal care & cosmetics industry in products, such as toothpaste, skin cream, and makeup formulations as viscosity modifiers, emulsion stabilizers, and texture enhancers. The expanding personal care & cosmetics sector, driven by increasing consumer awareness of skincare and grooming, contributes to the increasing application of the product.

On the other hand, fluctuations in the prices of raw materials such as cellulose pulp can impact the production and prices of final microcrystalline cellulose. Additionally, competition from other cellulose-based products or synthetic alternatives may influence pricing dynamics, potentially restricting market growth.

 Request a free sample copy or view report summary: Microcrystalline Cellulose Market Report

Microcrystalline Cellulose Market Report Highlights

The non-wood-based sources segment is anticipated to grow at the highest CAGR over the forecasted period. Non-wood-based sources like agricultural residue, such as corn stover, wheat straw, and rice husks, offer more sustainable alternatives than wood-based sources, reducing pressure on forests, and promoting circular economy principles.

The liquid MCC segment is expected to witness the highest CAGR over the coming years on account of its properties, such as improved stability, viscosity control, and suspension properties, making it more desirable for formulations requiring these properties

The food & beverages industry is anticipated to witness the highest growth rate over the next years, owing to the rising penetration of the product in food & beverage production on account of its beneficial properties

Asia Pacific is expected to witness the fastest growth over the forecasted period owing to rapid technological advancements, the presence of large pharmaceutical and food & beverages industries, changing consumer preferences & trends, and the presence of some of the key manufacturing companies

In November 2023, International Flavors & Fragrances, Inc., and BASF Pharma Solutions collaborated on the virtual pharma assistant platform ZoomLab. In the first phase of the collaboration, IFF’s Avicel microcrystalline cellulose and super disintegrant Ac-Di-Sol became available on the platform

Microcrystalline Cellulose Market Segmentation

Grand View Research has segmented the global microcrystalline cellulose market on the basis of source, form, application, and region:

Microcrystalline Cellulose (MCC) Source Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

Wood-based

Non-wood-based

Microcrystalline Cellulose (MCC) Form Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

Powdered

Liquid

Microcrystalline Cellulose (MCC) Application Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

Pharmaceutical

Food & Beverages

Personal Care & Cosmetics

Paints & Coatings

Other Applications

Microcrystalline Cellulose (MCC) Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

North America

U.S.

Canada

Mexico

Europe

Germany

UK

France

Italy

Spain

Asia Pacific

China

India

Japan

South Korea

Central & South America

Brazil

Argentina

Middle East & Africa

South Africa

Saudi Arabia

List of Key Players in the Microcrystalline Cellulose Market

Roquette Frères

JRS PHARMA

Asahi Kasei Corporation

Apollo Scientific Ltd

SEPPIC

Ankit Pulps

GODAVARI BIOREFINERIES LTD.

International Flavors & Fragrances Inc.

DFE Pharma

Fengchen Group Co., Ltd.

Foodchem International Corporation

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The global demand for Renewable Solvent was valued at USD 3984.5 million in 2022 and is expected to reach USD 6022.8 Million in 2030, growing at a CAGR of 5.30% between 2023 and 2030.The global demand for sustainable and environmentally friendly products is driving significant growth in the renewable solvent market. Renewable solvents, derived from natural and sustainable resources such as agricultural crops, biomass, and other bio-based materials, are increasingly being adopted across various industries. These solvents offer a green alternative to traditional petrochemical-based solvents, which are often associated with environmental and health concerns. This article delves into the factors contributing to the rise of the renewable solvent market, the key applications, and the future prospects.

Browse the full report at https://www.credenceresearch.com/report/renewable-solvent-market

Market Drivers and Growth Factors

One of the primary drivers of the renewable solvent market is the increasing awareness and demand for eco-friendly products. Governments and regulatory bodies around the world are implementing stringent environmental regulations aimed at reducing carbon footprints and minimizing the release of volatile organic compounds (VOCs). Traditional solvents, which are primarily derived from petrochemicals, are known to emit significant amounts of VOCs, contributing to air pollution and posing health risks. In contrast, renewable solvents are derived from natural sources, making them biodegradable and less harmful to both the environment and human health.

The shift towards a circular economy is another factor bolstering the renewable solvent market. In a circular economy, the focus is on minimizing waste and making the most of available resources. Renewable solvents, produced from agricultural and industrial waste, fit seamlessly into this model by utilizing by-products that would otherwise be discarded. This not only helps in reducing waste but also adds value to the by-products, providing economic benefits to the producers.

Moreover, the rising costs and depleting reserves of fossil fuels are pushing industries to seek alternatives. Renewable solvents, which are derived from abundant natural resources, present a sustainable and cost-effective solution. As a result, industries are increasingly investing in research and development to improve the efficiency and scalability of renewable solvent production.

Key Applications of Renewable Solvents

Renewable solvents find applications across a wide range of industries, including pharmaceuticals, paints and coatings, adhesives, cleaning products, and personal care.

In the pharmaceutical industry, renewable solvents are used in drug formulation and manufacturing processes. The demand for greener pharmaceuticals is growing, driven by both regulatory pressure and consumer preferences for eco-friendly products. Renewable solvents, being non-toxic and biodegradable, are ideal for use in pharmaceutical applications where safety and sustainability are paramount.

The paints and coatings industry is another major consumer of renewable solvents. Traditional solvents used in paints and coatings are notorious for emitting VOCs, contributing to air pollution and smog formation. Renewable solvents, on the other hand, offer a low-VOC alternative, making them an attractive option for manufacturers seeking to produce eco-friendly products. Additionally, renewable solvents can improve the performance and durability of paints and coatings, further driving their adoption in the industry.

In the cleaning products sector, renewable solvents are gaining popularity as consumers become more conscious of the environmental impact of the products they use. Renewable solvents, derived from natural sources, are biodegradable and non-toxic, making them ideal for use in household and industrial cleaning products.

Challenges and Future Prospects

Despite the growing demand, the renewable solvent market faces several challenges. One of the main hurdles is the high cost of production compared to traditional solvents. While the cost of renewable solvents is expected to decrease as production processes become more efficient and scalable, the current price disparity remains a barrier to widespread adoption.

Another challenge is the limited availability of raw materials for renewable solvent production. The reliance on agricultural crops and biomass raises concerns about the sustainability of the supply chain, especially in regions where land and resources are scarce. To address this issue, researchers are exploring alternative feedstocks, such as algae and waste materials, to diversify the raw material base.

Looking ahead, the renewable solvent market is poised for significant growth, driven by increasing environmental awareness, regulatory support, and technological advancements. As industries continue to prioritize sustainability and seek alternatives to petrochemical-based products, the demand for renewable solvents is expected to rise. Innovations in production techniques and the development of new applications will further propel the market, making renewable solvents an integral part of the global shift towards a more sustainable future.

Key Players

Neste

ASTROBIO

Nexant Inc.

US Polychem

IHS Markit

InKemia Green Chemicals, Inc.

Archer Daniels Midland Company

Braskem

Vertec Biosolvents

Cargill Incorporated

Wilmar BioEthanol

Cremer Oleo Gmbh & Company KG.

Segmentation

By Type of Renewable Solvent:

Bio-Based Solvents

Green Solvents

Natural Solvents

Alcohol-Based Solvents

Ester-Based Solvents

Glycol-Based Solvents

By Application:

Paints and Coatings

Adhesives and Sealants

Cleaning Products

Printing Inks

Chemical Processing

Pharmaceuticals

Personal Care and Cosmetics

Others

By Feedstock Source:

Plant-Based

Waste-Based

Algae-Based

Cellulosic

By End-Use Industry:

Manufacturing

Construction

Automotive

Agriculture

Healthcare

Consumer Goods

Others

By Certifications and Standards:

Ecolabels

Compliance with Regulations

By Region

North America

U.S

Canada

Mexico

Europe

Germany

France

U.K.

Italy

Spain

Rest of Europe

Asia Pacific

China

Japan

India

South Korea

South-east Asia

Rest of Asia Pacific

Latin America

Brazil

Argentina

Rest of Latin America

Middle East & Africa

GCC Countries

South Africa

Rest of Middle East and Africa

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New Trends of Ethyl Lactate Market with Industry Analysis by 2024 – 2030

Ethyl Lactate Industry Overview

The global ethyl lactate market size was estimated at USD 66,484 thousand in 2023 and is projected to grow at a CAGR of 3.7% from 2024 to 2030. The demand for the product is set to witness substantial growth owing to its increasing consumption in the cosmetic & personal care industry due to its low cost and flexible nature. Ethyl lactate is a less toxic and carcinogenic substance, which makes it a desirable product in the cosmetics & personal care industry. It is 100% biodegradable and can be recycled easily, which makes the product a popular choice across many industries.

A primary objective of the climate goal agreed by the United Nations Climate Change Conference in Glasgow (COP28) was ensuring a safe and environmentally sustainable environment through aligning industries using technology to produce clean, green products. Solvents have originally been major pollutants to the environment. Hence, ethyl lactate is the most feasible substitute for solvents in applications such as industrial coatings that help industries achieve sustainability goals. Coatings provide an enhanced visual appearance and protection against corrosion. The growth in the industrial coatings industry has been attributed to infrastructural development, the growing automotive industry, and sustained construction activity worldwide.

Gather more insights about the market drivers, restrains and growth of the Ethyl Lactate Market

Ethyl lactate is an ideal substitute for acetone and ethyl acetate, both harsher on the skin. Hence, it is used as an additive in cosmetics and perfumes, and its growing global demand is expected to boost perfume consumption. The increased consumer preference for environmentally safe, biodegradable beauty products has been resulting in the usage of sustainable compounds such as ethyl lactate to be increasingly used in the personal care & cosmetics industry. Hence, a number of brands have announced geographic expansion to cater to the growing number of users across the world. For instance, in December 2023, Coty, a fragrance and beauty care brand announced its expansion plans for the Indian market to cater to the country’s booming beauty industry.

Lactic acid is a key raw material used to produce ethyl lactate. In the past few years, climate change has resulted in irregular rainfall, adversely impacting cultivation and crop yield worldwide. This has resulted in increased prices of lactic acid, which is expected to increase in the coming years owing to increased energy and logistics costs. This is expected to place a key restraint on the growth of the ethyl lactate market. Moreover, the increase in input cost has resulted in a decline in profitability in the industry.

Browse through Grand View Research's Renewable Chemicals Industry Research Reports.

The global aspartic acid market size was valued at USD 107.7 million in 2023 and is expected to grow at a CAGR of 6.7% from 2024 to 2030. 

The global pine-derived chemicals market size was estimated at USD 5.82 billion in 2023 and is projected to grow at a CAGR of 4.4% from 2024 to 2030.

Key Ethyl Lactate Company Insights

Some of the key players operating in the market include Corbion N.V., ADM, Stepan, and Galactic among others.

Corbion N.V. produces and distributes biochemical, biomedical, bioplastic, and food ingredient solutions. Its product line includes lactic acid and its derivatives, emulsifiers, functional enzyme mixes, minerals, vitamins, and algal components. The company provides food solutions to numerous industries, including bakery, poultry, oils, meat, dairy, seafood, drinks, fruits, vegetables, refrigerated foods, and emulsifiers. The company offers biochemical solutions to agrochemicals, animal health and nutrition, pharmaceuticals, chemicals, home care, and personal care applications.

Archer Daniels Midland Co (ADM) produces, processes, transports, stores, and markets agricultural products, commodities, and ingredients. The company manufactures food & beverage ingredients and other products from corn, wheat oilseeds, and other agricultural commodities.

Aurochemicals, Henan Kangyuan, Musashino Chemical Laboratory, Ltd. are some of the emerging market participants in the Ethyl Lactate market.

Aurochemicals specializes in the research, production, and quality assurance of flavor and aroma ingredients. The company offers its products to various industries, such as food & beverages, pharmaceuticals, and cosmetics. The company serves its customers on five continents, including client corporations such as Givaudan and Firmenich.

Henan Kangyuan is engaged in the manufacturing and sales of food additives, edible essences, and fine chemical products. Its main products for production and sales include food additives (ethyl caproate, ethyl lactate, ethyl octanoate, propyl acetate, phenylethanol, 2,3 butanedione, ethyl propionate, ethyl isobutyrate, ethyl butyrate, isoamyl acetate, glacial acetic acid (low-pressure carbonylation method), acetal, glycerol, allyl hexanoate, allyl heptanate), ethyl acetate, ethyl heptanate, lactic acid, caproic acid, butyric acid, and propionic acid.

Key Ethyl Lactate Companies:

The following are the leading companies in the ethyl lactate market. These companies collectively hold the largest market share and dictate industry trends.

Corbion N.V.

ADM

Stepan

Musashino Chemical Laboratory

Vertec Biosolvents

Galactic

Henan Kangyuan

Godavari Biorefineries Ltd

Aurochemicals

Recent Developments

In September 2022, Stepan announced the acquisition of the surfactant business and associated assets of PerformanX Specialty Chemicals, LLC. Headquartered in Westerville, Ohio. PerformanX includes ethoxylates, disinfectants, lubricant additives, and a variety of specialty products for markets that range from the paints and coatings, cleaning & detergents to oil and gas, personal care, and pulp and paper industries. 

In July 2021, Corbion NV announced the acquisition of a Mexico-based provider of functional blends, Granolife. The company plans to expand its market reach in the Mexican bakery and fortification industries. By expanding Granolife's presence, expertise, blending capabilities and application laboratories, Corbion NV pans to make a significant difference in the Mexican market.

 Order a free sample PDF of the Ethyl Lactate Market Study, published by Grand View Research.

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Ink Market Size, Share | Industry Report, Forecast 2032

The latest report published by IMARC Group, titled “Ink Market Report by Technology (Lithographic, Flexographic, Gravure, Digital, Letterpress, and Others), Ink Type (Oil Based, Solvent Based, Water Based), Application (Label & Packaging, Commercial Printing, Publications, and Others), and Region 2024-2032”, offers a comprehensive analysis of the industry, which comprises insights on the market share. The report also includes competitor and regional analysis, and contemporary advancements in the market. This report can serve as an excellent guide for investors, researchers, consultants, marketing strategists and all those who are planning to foray into the market in any form.

How big is the global ink market?

The global ink market size reached US$ 20.4 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 26.6 Billion by 2032, exhibiting a growth rate (CAGR) of 2.9% during 2024-2032.

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Global Ink Market Trends:

The expansion of the packaging industry, driven by e-commerce and increasing consumer goods consumption, has significantly boosted the demand for ink used in printing labels, packaging materials, and product information. Additionally, the digital printing revolution has led to a surge in ink consumption, as businesses increasingly adopt digital printing technology for its efficiency and flexibility. Furthermore, environmental concerns have driven the development and adoption of eco-friendly, sustainable ink formulations, meeting the growing demand for environmentally responsible products. These factors, combined with continuous advancements in ink technology, are propelling the ink market forward, making it a dynamic and thriving sector within the printing and packaging industry.

Factors Affecting the Growth of the Ink Industry:

Technological Advancements:

Technological advancements play a pivotal role in shaping the ink industry. With the continuous evolution of printing technologies, there is a significant demand for inks that are compatible with the latest printers and printing techniques. Innovations such as UV-curable inks, eco-solvent inks, and digital inks have revolutionized the market. These technologies offer advantages like faster drying times, enhanced color quality, and greater environmental sustainability. Furthermore, advancements in nanotechnology and biotechnology are leading to the development of more efficient and environmentally friendly ink formulations. The growing adoption of digital printing in various sectors such as packaging, advertising, and textiles is also driving the demand for specialized inks.

Environmental Regulations and Sustainability Concerns:

The global ink market is increasingly influenced by environmental regulations and sustainability concerns. Governments and environmental agencies are implementing stricter regulations regarding the use of volatile organic compounds (VOCs) and hazardous materials in inks. This regulatory pressure is pushing ink manufacturers to develop and promote eco-friendly inks that are low in VOC content and utilize renewable resources. The market is witnessing a shift towards water-based inks, soy-based inks, and vegetable oil-based inks as they are less harmful to the environment. Additionally, the rising awareness among consumers about sustainable practices is encouraging companies to adopt green printing methods and biodegradable inks, which is further shaping the market dynamics.

Market Demand and Consumer Trends:

The ink market is significantly influenced by changing market demands and consumer trends. The growing packaging industry, especially in emerging economies, is a major driver for the ink market. The increasing use of ink in packaging for branding and labeling purposes is fueling the demand for high-quality inks. Additionally, the rising popularity of online shopping has led to an increased demand for packaging materials, subsequently boosting the ink market. The trends in the advertising and media industry, such as the use of high-quality graphics and customized printing, also contribute to the growth of the ink market. Furthermore, consumer preferences for eco-friendly and sustainable products are leading to innovations in ink formulations and printing methods.

Speak to An Analyst: https://www.imarcgroup.com/request?type=report&id=569&flag=C

Ink Market Report Segmentation:

By Technology:

Lithographic

Flexographic

Gravure

Digital

Letterpress

Others

Lithographic ink is the largest segment due to its widespread use in the printing industry for high-quality and mass production.

By Ink Type:

Oil Based

Solvent Based

Water Based

Oil-based inks dominate as they offer durability and versatility for various printing applications.

By Application:

Label & Packaging

Commercial Printing

Publications

Others

Label & packaging is the largest segment owing to the growing demand for product branding and packaging materials.

Regional Insights:

Asia Pacific

North America

Europe

Others

Asia Pacific leads due to its robust manufacturing and industrial activities, driving ink demand.

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.

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Ethyl Acetate Market to Garner USD 8.8 billion by 2031

The global ethyl acetate market was estimated at a value of US$ 5.5 billion in 2022. It is anticipated to register a 5.9% CAGR from 2023 to 2031 and by 2031, the market is likely to attain US$ 8.8 billion by 2031.

The demand for solvent-based paints and coatings, in particular, is anticipated to impede the growth of the ethyl acetate market due to growing environmental concerns and strict restrictions. Throughout the projection period, there will likely be a sharp increase in demand for ethyl acetate due to the manufacturing vertical's propensity to spend more on flexible packaging in order to achieve distinction.

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Key Findings of Market Report

Laminated adhesives and high-resolution printing inks are made with ethyl acetate as a solvent.

These are used in a variety of plastic films and flexible packaging materials.

Flexible packaging is more affordable, recyclable, and comes in a range of sizes. It also has a higher durability.

A wide range of sectors have a significant demand for flexible packaging.

Polymer resins that are used to generate excellent coating solutions can be dissolved and dispersed by ethyl acetate.

This improves the packaging's durability and barrier qualities.

The industrial sector's growing preference for flexible packaging is anticipated to have a beneficial effect on the growth of the ethyl acetate market over the coming years.

The following companies are well-known participants in the global ethyl acetate market:

INEOS AG

Sekab Biofuels and Chemicals AG

Solventis Ltd.

Sasol Ltd.

Daicel Corporation

Ashok Alco-Chem Ltd.

Celanese Corp.

Eastman Chemical Co.

Godavari Biorefineries Ltd.

Jiangsu Sopo (Group) C. Ltd.

Global Market for Ethyl Acetate: Regional Outlook

Various reasons are propelling the growth of the ethyl acetate market in different regions. These are:

In 2022, the automotive, pharmaceutical, and food and beverage industries in China, Japan, and India accounted for a significant portion of the global ethyl acetate market share, with Asia Pacific holding a share of over 40%. The increasing demand for printing inks, adhesives, and coating solvents is predicted to cause the ethyl acetate markets in Vietnam and Thailand to expand considerably during the next several years.

The United Kingdom, Germany, and France are home to a significant number of suppliers and manufacturers of packaging solutions, chemical products, vehicles, and food and drinks, which contribute to Europe's significant portion of the worldwide ethyl acetate demand.

Global Ethyl Acetate Market: Key Players

The ethyl acetate industry is very competitive globally, and its major competitors are expanding their customer base by using an organic approach to development. In order to obtain a competitive advantage, they are also utilizing strategic initiatives including partnerships, joint ventures, and mergers and acquisitions Leading producers of ethyl acetate are also concentrating on creating novel bio-based solutions to meet the increasing demand for environmentally friendly goods globally.

Few of key developments by the players in this market are:

Celanese Corp. announced in February 2023 the introduction of a range of innovative sustainable solutions for different acetate chain materials. They go by the name "ECO-B."

CropEnergies AG declared in December 2022 that it will begin building a factory to convert sustainable ethanol into renewable ethyl acetate.

IOL Chemicals as well as Pharmaceuticals declared in October 2022 that the European Union had granted it regulatory approval (REACH certification) to supply ethyl acetate.

Yip's Chemical stated in July 2022 that it had signed a deal to sell PAG a 51% effective stake in Handsome Chemical, one of its solvents business subsidiaries, for around US$ 0.36 billion. With a 1.6 metric ton yearly production capacity, Handsome Chemical is the biggest manufacturer of acetate solvents.

Viridis Chemical, LLC produced sustainable ethyl acetate at its Columbus, Nebraska, production site in March 2022. In this sense, HELM U.S. is Viridis' marketing partner.

Celanese Corporation declared in March 2021 that it would substitute recycled carbon dioxide for methanol synthesis at its chemical production facility in Clear Lake, Texas, Inc. One of the essential components of many acetyl compounds, such as ethyl acetate, acetic acid, and vinyl acetate monomer (VAM), is methanol.

Global Ethyl Acetate Market Segmentation 

Application

Printing Inks

Adhesives

Cosmetics

Paints & Coatings

Pharmaceuticals

Food & Beverages

Herbicides

Others (including Marine and Mining)

Region

North America

Latin America

Europe

Asia Pacific

Middle East & Africa

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About Transparency Market Research

Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyses information.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

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