Solvent recycling: Key market research findings
- The Americas dominate the market geographically
- Off-site facilities account for a majority of the market’s revenue
- Key vendors – Clean Planet Chemical, IST Pure, Maratek Environmental, and Veolia
Technavio’s market research analysts predict the global solvent recycling market to grow at a CAGR of around 17% between 2016 and 2020. The growth of the market is driven primarily by the increased focus on the impact of solvent recycling on the environment. Based on different kinds of solvents and their bases, the damage to the environment can be hugely varied. During 2015, the global solvent recycling market was dominated by the Americas with a market share of around 42%. The growth of the market in this region will benefit from the strong focus on the creation of an environmentally sustainable industrial framework over the next four years,
The new market research report from Technavio presents a breakdown and analysis of the solvent recycling segments based on the facility type.
“The utilization of the final by-products of the process is a major trend that is gaining traction in the market currently. Some of the contaminants left behind as residue of the fractionation process are capable of causing significant damage to the ecosystem. In the recent years, there have been many end-use industries that have been identified for the procurement of these harmful products. One of the most important industries that has emerged in the market is the cement industry,” says Thanikachalam Chandrasekaran, Lead Analyst, Energy, Technavio Research.
In 2015, off-site recycling facilities accounted for around 52% of the overall market revenue to become the key revenue generating vertical of the global market. This type of recycling facility is generally set-up by the vendors without much collaboration with waste solvent stream producers. Off-site recycling facilities are targeted at residential and small-scale solvent consumers. Batch volumes in an off-site recycling facility are smaller and the vendor pool in the similar streams from multiple users in a particular target area.
The key vendors in the global market include Clean Planet Chemical, IST Pure, Maratek Environmental, and Veolia. The global solvent recycling market highly fragmented market due to the presence of numerous vendors who operate at the multiple layers. The market’s fragmentation is evident in the different supply chains of the overall system. The current global solvent recycling market comprises of two distinct layers. One of the layers consists of vendors that cater to the residential and small-scale commercial establishments while the other consists of vendors that cater to the large-scale commercial and the industrial solvent users.
A more detailed analysis is available in the Technavio report, Global Solvent Recycling Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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