Global Solvent Recycling Market is segmented on the basis of product type, application, and region. Solvent recycling helps in the removal of harmful contaminants and facilitates the re-use of solvent streams. The safe disposal of contaminants that might cause significant damage to the ecosystem is one of the major issues of the solvent recycling process.
Since the above-mentioned contaminants contain significant quantities of hydrocarbons, the coming years will witness the procurement of these harmful products by the cement industry to combust the cement kilns and achieve relatively high temperatures that are required to carry out the cement manufacturing process. This will add to the economic benefits of the execution of solvent recycling process and in turn, drive the demand for solvent recycling equipment.
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Solvent Recycling Market is classified by type into On-site solvent recycling, and off-site solvent recycling. Off-site solvent recycling segment accounted for the largest market share of the Solvent Recycling Market in 2014 and is expected to remain dominant over the forecast period from 2014 to 2025. This market segment mainly targets the residential and small-scale solvent consumers and the facility is set-up by the vendors without much association with the waste solvent stream producers. The segment is expected to grow at highest CAGR between 2014 to 2025.
Key players are Clean Planet Chemical, IST Pure, Maratek Environmental, and Veolia. The other prominent vendors in the market are CBG Technologies, CycleSolv and Tradebe.
Off-site recycling facilities are being targeted at small-scale and residential solvent consumers. Batch volumes with respect to an off-site recycling facility are much smaller. Solvent Recycling Market is classified by applications into car parts, electronic product, painted gold, and others. Solvent Recycling Market is segmented geographically into North America, Europe (Eastern Europe, Western Europe), Asia Pacific, Latin America, Middle East and Africa.
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North America is expected to account for the largest market share of the market by 2025 and also dominate the solvent recycling market throughout the forecasted period. Much of this region’s growth can be attributed to the strong focus of countries toward the making of an environmentally sustainable industrial framework. Furthermore, the focus of the Environmental Protection Agency towards the introduction of rigorous solvent disposal methods will also drive the demand for solvent recycling machines in this region. Asia Pacific region is growing at fastest pace and is expected to grow at highest CAGR over the forecast period 2014 to 2025.
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