Solvent Recovery and Recycling Market worth $1,384 million by 2028 - Exclusive Report by MarketsandMarketstm

CHICAGO, Feb. 1, 2024 /PRNewswire/ -- The report "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", size is projected to reach USD 1,384 million by 2028 from USD 1,085 million in 2023, at a CAGR of 5.0% during the forecast period. The major drivers for the solvent recovery and recycling market are 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. considerable capital investment of solvent recovery systems, and solvent recovery systems require significant space and specific infrastructure are considered restraining factors in this market. Whereas growing awareness of environmental issues, and ongoing innovation in solvent recovery technologies act as opportunities in the market.

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41 ? Figures
227 ? Pages

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Cresol is the fastest growing solvent type, in terms of value, during the forecast period.

Cresol is estimated to be the fastest-growing solvent type in the solvent recovery and recycling market due to its versatile applications and eco-friendly nature. As a key solvent type, cresol is increasingly favored for its effectiveness in dissolving various substances, coupled with its low environmental impact. The rising demand for sustainable and environmentally friendly solutions in industries like pharmaceuticals, chemicals, and paints has significantly contributed to the swift expansion of cresol as a preferred solvent, driving its status as the fastest-growing solvent type.

Based on end-use industry, printing end-use industry is estimated to be the fastest-growing segment of solvent recovery and recycling market.

The printing industry is estimated to be the fastest growing end-use industry in the solvent recovery and recycling market, due to the escalating demand for sustainable practices. The printing industry extensively employs solvents in inks and coatings. With increasing environmental awareness and stringent regulations, there's a growing emphasis on solvent recovery and recycling to reduce environmental impact. This surge in eco-friendly initiatives, along with the expanding printing sector, propels the demand for solvent recovery, making printing the forefront of growth in this market.

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Europe is the second fastest growing region, in terms of value, during the forecast period in the solvent recovery and recycling market.

Europe represents the second fastest-growing region in the solvent recovery and recycling market during the forecast period due to stringent environmental regulations and a strong emphasis on sustainable practices. The region's commitment to reducing carbon footprint and waste generation propels the adoption of solvent recovery technologies. Growing awareness, coupled with the proactive approach of European industries towards eco-friendly solutions, contributes to the significant expansion of the solvent recovery market. This commitment to environmental stewardship positions Europe as a key player in the industry's sustainable growth.

Key Players

Veolia (France), CycleSolv LLC (US), Tradebe Environmental Services (US), Clean Harbors (US), and Indaver (Belgium) are some of the established players in the solvent recovery and recycling market. These players have adopted various strategies such as mergers & acquisitions, joint ventures, and expansion to strengthen their market position.

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