Rising Importance Of Minimizing Waste At Source And Reuse Of Solvents To Reduce Cost Will Drive The Market In Near Future
Dublin, Nov. 22, 2022 (GLOBE NEWSWIRE) — According to Fact.MR, market research and competitive intelligence provider, the Europe solvent recycler market is estimated at US$ 270.0 Million in 2023 and is expected to expand at a CAGR of 4.9% during the forecast years of 2023-2033.
Solvent recycling comes with many benefits for recyclers saving costs, reduction of waste at disposal, and also safety from exposure to hazardous and dangerous vapors that are released with the disposal of chemicals.
Growing demand of chemical recycling and also government efforts by making strict policies regarding the disposal of chemical and solvent waste are promoting the demand for solvent recyclers due to increased usage for protecting the environment from the disposal of hazardous chemicals. The rising demand has resulted in a rising number of solvent recycling companies due to which demand for solvent recyclers is rapidly rising.
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European governments are focusing on the circular and sustainable economy with respect to the European Green Deal which is a set of policy initiatives by the European Commission where they are focusing on achieving zero carbon emission and climate neutrality by the year 2050.
Key Takeaways from Market Study
- The Europe solvent recycler market is projected to expand at a CAGR of 4.9% and be valued at US$ 435.0 Million by 2033
- The market witnessed a 4.1% CAGR for the period of 2018-2022
- Germany to dominate the market with a 25% market share in 2023
- The upto 30 litres segment is a growing segment in the solvent recycler market and has a growth rate of 4.6% from 2023-2033
Key Strategies by Market Players
Market players are adopting various key strategies to stay in competition in the highly fragmented solvent recycler market. The companies focus on enhancing their market footprints by collaborating or acquiring organizations/environment protection NGOs to cover huge catchment areas.
Further, investment in advancing technology and the development of high technology machineries play a critical role in reframing the demand and supply spectrum. Long-term trade relations with both suppliers and distributors enable market players to survive in unfavorable market situations.
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Key Companies Profiled
- OFRU Recycling GmbH & Co. KG
- NexGen Enviro Systems
- Solutex Ltd.
- PRI Systems
- Alltrade Recycling Equipment
- Solvent Waste Management
- CBG Biotech
- Clean Planet Chemical
Segmentation of Solvent Recycler Industry Research
- By Capacity:
- Upto 10 Liters
- Upto 20 Liters
- Upto 30 Liters
- Upto 60 Liters
- Upto 100 Liters
- More than 100 Liters
- By End-Use Industry:
- Paint, Finishing and Coating
- Fiberglass, Plastics & Composites
- Metal Finishing
- 3D Printing
- By Country:
- Rest of Europe
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the Europe solvent recycler market, presenting historical market data (2018-2022) and forecast statistics for the period of 2023-2033.
The study reveals essential insights on the basis of capacity (upto 10 Litres, upto 20 Litres, upto 30 Litres, upto 60 Litres, upto 100 Litres, more than 100 Litres), end-use Industry (paint, finishing, and coating, fibreglass, plastics & composites, metal finishing, 3D printing, others) across major countries in Europe (Germany, France, UK, BENELUX, NORDICS, Italy, Spain, Rest of Europe).
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