Solvent Recovery and Recycling Market by Solvent Type (NMP, DMSO, Cresol, DMF, DMAC, Acetone, Butanol, Propanol, 2-Aminoethanol, 1, 4 Dioxane, E-Caprolactam, Terephthalic Acid), End-Use Industry, and Region - Global Forecast to 2028
The global solvent recovery and recycling market size is estimated to be USD 1,085 million in 2023 and projected to reach USD 1,384 million by 2028, at a CAGR of 5.0%. Stringent regulations promoting the reduction of emissions and hazardous waste, increasing demand for solvent recovery in end-use industries, and financial benefits through reduced procurement costs and waste disposal expenses are driving factors in this market. Restraints include high initial capital investment of solvent recovery systems, and solvent recovery systems require significant space and specific infrastructure.
Scope of the Report
Years Considered for the Study
2020-2028
Base Year
2022
Forecast Period
2023-2028
Units Considered
Volume (KT) and Value (USD Million/Billion)
Segments
By Solvent Type, End-Use Industry, and Region
Regions covered
North America, Asia Pacific, Europe, Middle East & Africa, and South America
"North America accounted for the second largest market share amongst other regions in solvent recovery and recycling market."
North America accounted for the second-largest market share in the solvent recovery and recycling market due to stringent environmental regulations driving industries to adopt sustainable practices. The region's robust manufacturing sector, particularly in chemicals and pharmaceuticals, emphasizes eco-friendly solutions to meet compliance standards. Additionally, increasing awareness among businesses about cost savings and resource efficiency propels the adoption of solvent recovery technologies.
"Chemicals industry has the second largest market share in the solvent recovery and recycling market."
The chemicals industry segment is the second-largest end-use industry in the solvent recovery and recycling market due to the sector's extensive use of solvents in various processes, such as manufacturing, cleaning, and formulation. As environmental concerns and regulations tighten, the chemical industry is increasingly adopting solvent recovery practices to minimize waste and reduce environmental impact. This commitment to sustainable practices, combined with the continued growth of the chemical sector, establishes it as a significant contributor to the expanding solvent recovery and recycling market.
"Acetone accounted for the second largest market share amongst other solvent types in the solvent recovery and recycling market"
Acetone is the second largest solvent type in the solvent recovery and recycling market due to to its widespread use in industries such as chemicals, pharmaceuticals, and coatings. The versatility, effectiveness, and cost-efficiency of acetone contribute to its high demand. As industries prioritize sustainability, the need for efficient solvent recovery boosts acetone's significance in mitigating environmental impact and supporting circular economy initiatives.
Breakdown of primaries
The study contains insights from various industry experts, ranging from component suppliers to Tier 1 companies and OEMs. The break-up of the primaries is as follows:
By Company Type: Tier 1 - 40%, Tier 2 - 30%, and Tier 3 - 30%
By Designation: C Level- 20%, D-level - 10%, And Other Level - 70%
By Region: North America - 20%, Europe - 30%, APAC - 30%, Middle East & Africa - 10%, South America-10%.
The solvent recovery and recycling market is dominated by a few globally established players such as Veolia (France), CycleSolv LLC (US), Tradebe Environmental Services (US), Clean Harbors (US), and Indaver (Belgium).
Research Coverage:
The solvent recovery and recycling market has been segmented based on solvent type, end-use industry, and region. The report also provides detailed information on company profiles and competitive strategies adopted by the key players to strengthen their positions in the market. The report also provides insights into the driving and restraining factors in the solvent recovery and recycling market, along with opportunities and challenges in the market. It also includes profiles for top manufacturers in the market.
Key Benefits of Buying the Report:
The report will help the leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall market and the sub-segments. This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the solvent recovery and recycling market and provides them with information on key market drivers, restraints, challenges, and opportunities.
Key benefits of buying this report
This research report is focused on various levels of analysis - industry analysis (industry trends), market ranking analysis of top players, and company profiles, which together provide an overall view on the competitive landscape; emerging and high-growth segments of the solvent recovery and recycling market; high-growth regions; and market drivers, restraints, opportunities, and challenges.
The report provides insights on the following pointers:
Analysis of drivers (stringent regulations promoting the reduction of emissions and hazardous waste, Increasing demand for solvent recovery in end-use industries, and financial benefits through reduced procurement costs and waste disposal expenses), restraints (high initial capital investment of solvent recovery systems, and solvent recovery systems require significant space and specific infrastructure), opportunities (ongoing innovation in solvent recovery technologies, and solvent recovery systems require significant space and specific infrastructure) and challenges (availability of low-cost virgin solvents) influencing the growth of solvent recovery and recycling market.
Market Penetration: Comprehensive information on solvent recovery and recycling market offered by top players in the global market.
Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and mergers & acquisitions in the solvent recovery and recycling market.
Market Development: Comprehensive information about lucrative emerging markets - the report analyzes the markets for solvent recovery and recycling market across regions.
Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of leading players in the solvent recovery and recycling market.
TABLE OF CONTENTS
1 INTRODUCTION
1.1 STUDY OBJECTIVES
1.2 MARKET DEFINITION
1.3 STUDY SCOPE
1.3.1 MARKET SEGMENTATION
1.3.2 REGIONS COVERED
1.3.3 YEARS CONSIDERED
1.4 CURRENCY CONSIDERED
1.5 UNITS CONSIDERED
1.6 STAKEHOLDERS
1.7 INCLUSIONS & EXCLUSIONS
TABLE 1 INCLUSIONS & EXCLUSIONS
2 RESEARCH METHODOLOGY
2.1 RESEARCH DATA
FIGURE 1 RESEARCH DESIGN
2.1.1 SECONDARY DATA
2.1.1.1 Key data from secondary sources
2.1.2 PRIMARY DATA
2.1.2.1 Key data from primary sources
2.1.2.2 Breakdown of primary interviews
2.1.2.3 Key industry insights
2.2 MARKET SIZE ESTIMATION
FIGURE 2 MARKET SIZE ESTIMATION
2.2.1 TOP-DOWN APPROACH
FIGURE 3 TOP-DOWN APPROACH
2.2.2 BOTTOM-UP APPROACH
FIGURE 4 BOTTOM-UP APPROACH
2.3 DATA TRIANGULATION
FIGURE 5 DATA TRIANGULATION
2.4 RESEARCH ASSUMPTIONS
2.5 LIMITATIONS
2.6 MARKET FORECAST ESTIMATION
2.6.1 SUPPLY-SIDE APPROACH
2.6.2 DEMAND-SIDE APPROACH
2.7 IMPACT OF RECESSION
3 EXECUTIVE SUMMARY
FIGURE 6 ACETONE TO BE SECOND-LARGEST SOLVENT TYPE BETWEEN 2023 AND 2028
FIGURE 7 ASIA PACIFIC TO LEAD SOLVENT RECOVERY AND RECYCLING MARKET, 2023-2028
FIGURE 8 CHEMICALS TO BE SECOND-LARGEST SEGMENT IN SOLVENT RECOVERY AND RECYCLING MARKET
4 PREMIUM INSIGHTS
4.1 OPPORTUNITIES FOR PLAYERS IN SOLVENT RECOVERY AND RECYCLING MARKET
FIGURE 9 EMERGING ECONOMIES TO OFFER ATTRACTIVE OPPORTUNITIES DURING FORECAST PERIOD
4.2 SOLVENT RECOVERY AND RECYCLING MARKET, BY SOLVENT TYPE
FIGURE 10 DMF SOLVENT TYPE TO LEAD MARKET DURING FORECAST PERIOD
4.3 SOLVENT RECOVERY AND RECYCLING MARKET, BY END-USE INDUSTRY
FIGURE 11 PAINTS & COATINGS SEGMENT TO LEAD MARKET DURING FORECAST PERIOD
4.4 SOLVENT RECOVERY AND RECYCLING MARKET, BY COUNTRY
FIGURE 12 MARKET IN INDIA TO REGISTER HIGHEST CAGR FROM 2023 TO 2028
5 MARKET OVERVIEW
5.1 INTRODUCTION
5.2 MARKET DYNAMICS
FIGURE 13 DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES IN SOLVENT RECOVERY AND RECYCLING MARKET
5.2.1 DRIVERS
5.2.1.1 Stringent regulations promoting reduction of emissions and hazardous waste
5.2.1.2 Increasing demand for solvent recovery and recycling in end-use industries
5.2.1.3 Financial benefits through reduced procurement costs and waste disposal expenditure
5.2.2 RESTRAINTS
5.2.2.1 High initial capital investments in solvent recovery and recycling systems
5.2.2.2 Requirement of significant space and specific infrastructure
5.2.3 OPPORTUNITIES
5.2.3.1 Growing awareness about environmental issues
5.2.3.2 Increasing adoption in healthcare and pharmaceuticals
5.2.4 CHALLENGES
5.2.4.1 Availability of low-cost virgin solvents
6 INDUSTRY TRENDS
6.1 INTRODUCTION
6.2 VALUE CHAIN ANALYSIS
FIGURE 14 VALUE CHAIN ANALYSIS
6.2.1 SOLVENT GENERATION
6.2.2 COLLECTION AND TRANSPORTATION
6.2.3 SOLVENT RECOVERY AND RECYCLING
6.2.4 DISTRIBUTORS
6.2.5 END-USE INDUSTRIES
6.3 PRICING ANALYSIS
6.3.1 AVERAGE SELLING PRICE TREND OF KEY PLAYERS, BY END-USE INDUSTRY
FIGURE 15 AVERAGE SELLING PRICE OF KEY PLAYERS, BY END-USE INDUSTRY (USD/KG)
6.3.2 AVERAGE SELLING PRICE TREND, BY REGION
FIGURE 16 AVERAGE SELLING PRICE TREND, BY REGION (USD/KG)
6.4 TARIFF AND REGULATORY LANDSCAPE
6.4.1 REGULATIONS
6.4.1.1 North America
6.4.1.2 Europe
6.4.1.3 Asia Pacific
6.4.2 STANDARDS
6.4.2.1 ISO 14001
6.4.2.2 ISO 14004
6.4.2.3 EN 12952
6.4.2.4 ASTM D6803-19
6.4.3 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 2 NORTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 3 EUROPE: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 4 ASIA PACIFIC: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 5 ROW: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
6.5 TRADE ANALYSIS
6.5.1 IMPORT TRADE ANALYSIS
FIGURE 17 SOLVENT IMPORT, BY KEY COUNTRY, 2018-2022 (USD MILLION)
TABLE 221 TIANLONG ENVIRONMENTAL ENGINEERING CO., LTD: COMPANY OVERVIEW
11.2.8 ENVIRO TECH INTERNATIONAL INC.
TABLE 222 ENVIRO TECH INTERNATIONAL INC.: COMPANY OVERVIEW
11.2.9 RENERGIES
TABLE 223 RENERGIES: COMPANY OVERVIEW
11.2.10 NEXTGEN ENVIRO SYSTEMS INC.
TABLE 224 NEXTGEN ENVIRO SYSTEMS INC.: COMPANY OVERVIEW
11.2.11 LN CHEM
TABLE 225 LN CHEM: COMPANY OVERVIEW
11.2.12 PRI
TABLE 226 PRI: COMPANY OVERVIEW
11.2.13 SOLUTEX LTD
TABLE 227 SOLUTEX LTD: COMPANY OVERVIEW
11.2.14 JACOBI GROUP
TABLE 228 JACOBI GROUP: COMPANY OVERVIEW
11.2.15 BEST TECHNOLOGY INC.
TABLE 229 BEST TECHNOLOGY INC.: COMPANY OVERVIEW
*Details on Business Overview, Products Offered, Recent Developments, MnM View, Right to win, Strategic choices made, Weaknesses and competitive threats might not be captured in case of unlisted companies.