Global Green Solvent Market Growth, Share, Size, Trends and Forecast (2025 - 2031)

By Type;

Esters, Alcohol, D-Limonene, Diols & Glycol and Others.

By End-Use Industry;

Paints & Coatings, Industrial & Domestic Cleaners, Printing Inks, Adhesives & Sealants and Others.

By Geography;

North America, Europe, Asia Pacific, Middle East and Africa and Latin America - Report Timeline (2021 - 2031).
Report ID: Rn441514111 Published Date: March, 2025 Updated Date: April, 2025

Introduction

Global Green Solvent Market (USD Million), 2021 - 2031

In the year 2024, the Global Green Solvent Market was valued at USD 2,184.49 million. The size of this market is expected to increase to USD 3,909.47 million by the year 2031, while growing at a Compounded Annual Growth Rate (CAGR) of 8.7%.

The global green solvent market is experiencing significant growth as industries worldwide shift towards more sustainable practices. Green solvents are derived from renewable resources or produced using environmentally friendly processes, aimed at reducing the ecological footprint of traditional solvents. These solvents are increasingly being adopted across various sectors, including paints and coatings, pharmaceuticals, agriculture, and cleaning products, due to their lower environmental impact and compliance with stringent regulatory standards.

This market expansion is driven by rising environmental awareness and regulatory pressures to minimize the use of volatile organic compounds (VOCs) and other hazardous substances. Governments and regulatory bodies are implementing stricter environmental regulations, which are encouraging industries to adopt green solvents as safer and more sustainable alternatives. As companies seek to enhance their sustainability profiles and meet regulatory requirements, the demand for green solvents continues to grow.

Technological advancements in solvent formulation and production processes are also contributing to the market's growth. Innovations in green chemistry have led to the development of a wide range of effective and eco-friendly solvents. These advancements are improving the performance and applicability of green solvents in various industrial applications, further accelerating their adoption. The global green solvent market is thus positioned for continued expansion as industries increasingly prioritize sustainability and environmental stewardship.

  1. Introduction
    1. Research Objectives and Assumptions
    2. Research Methodology
    3. Abbreviations
  2. Market Definition & Study Scope
  3. Executive Summary
    1. Market Snapshot, By Type
    2. Market Snapshot, By End-Use Industry
    3. Market Snapshot, By Region
  4. Global Green Solvent Market Dynamics
    1. Drivers, Restraints and Opportunities
      1. Drivers
        1. Increasing Environmental Regulations
        2. Rising Awareness of Sustainable Practices
        3. Technological Advancements in Green Chemistry
      2. Restraints
        1. Higher Costs of Green Solvents
        2. Limited Availability of Raw Materials
        3. Technical Challenges in Formulation and Application
      3. Opportunities
        1. Expanding Applications Across Various Industries
        2. Growing Demand for Eco-Friendly Products
        3. Innovations in Green Solvent Technologies
    2. PEST Analysis
      1. Political Analysis
      2. Economic Analysis
      3. Social Analysis
      4. Technological Analysis
    3. Porter's Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of Substitutes
      4. Threat of New Entrants
      5. Competitive Rivalry
  5. Market Segmentation
    1. Global Green Solvent Market, By Type, 2021 - 2031 (USD Million)
      1. Esters
      2. Alcohol
      3. D-Limonene
      4. Diols & Glycol
      5. Others
    2. Global Green Solvent Market, By End-Use Industry, 2021 - 2031 (USD Million)
      1. Paints & Coatings
      2. Industrial & Domestic Cleaners
      3. Printing Inks
      4. Adhesives & Sealants
      5. Others
    3. Global Green Solvent Market, By Geography, 2021 - 2031 (USD Million)
      1. North America
        1. United States
        2. Canada
      2. Europe
        1. Germany
        2. United Kingdom
        3. France
        4. Italy
        5. Spain
        6. Nordic
        7. Benelux
        8. Rest of Europe
      3. Asia Pacific
        1. Japan
        2. China
        3. India
        4. Australia/New Zealand
        5. South Korea
        6. ASEAN
        7. Rest of Asia Pacific
      4. Latin America
        1. Brazil
        2. Mexico
        3. Argentina
        4. Rest of Latin America
      5. Middle East & Africa
        1. GCC
        2. Israel
        3. South Africa
        4. Rest of Middle East & Africa
  6. Competitive Landscape
    1. Company Profiles
      1. BASF SE
      2. The Dow Chemical Company
      3. Evonik Industries AG
      4. Clariant AG
      5. Solvay S.A.
      6. AkzoNobel N.V.
  7. Analyst Views
  8. Future Outlook of the Market