The Global Renewable Solvent Market was valued at USD 4.12 Billion in 2023 and is projected to reach USD 6.85 Billion by 2030, growing at a Compound Annual Growth Rate (CAGR) of 9.8% during the forecast period (2024–2030). This robust growth is propelled by stringent environmental regulations, a global shift toward bio-based products, and rising demand from key end-use industries like paints & coatings, pharmaceuticals, and cleaning products.

As industries worldwide commit to sustainable and circular economy principles, the demand for solvents derived from renewable resources—such as plants, grains, and biomass—is surging. These eco-friendly alternatives are replacing traditional petroleum-based solvents, offering lower toxicity and reduced carbon footprints. In this blog, we profile the Top 10 Companies in the Renewable Solvent Industry—a diverse group of chemical innovators, agribusiness giants, and bio-refining specialists shaping a greener future for industrial chemistry.

---

🔟 1. Archer Daniels Midland Company (ADM)

Headquarters: Chicago, Illinois, USA
Key Offering: Bio-based ethanol, Bioderived glycols, Vegetable oil-based solvents

ADM is a global leader in agricultural processing and a major producer of bio-based chemicals. Leveraging its vast agricultural supply chain, ADM produces a wide range of renewable solvents, including ethanol and other derivatives used in industrial applications, pharmaceuticals, and personal care.

Sustainability Initiatives:

• Investment in advanced bio-refining technologies

• Commitment to reducing greenhouse gas emissions across operations

• Development of low-carbon intensity ethanol pathways

Download FREE Sample Report: Renewable Solvent Market – View in Detailed Research Report

---

9️⃣ 2. Cargill Incorporated

Headquarters: Wayzata, Minnesota, USA
Key Offering: Bio-based polyols, Seed oil derivatives, Bio-solvents for coatings

Cargill utilizes its extensive agricultural network to produce a variety of renewable solvents and bio-based intermediates. Their focus is on creating high-performance, sustainable alternatives for the coatings, adhesives, and cleaning sectors, often derived from soy, corn, and other renewable feedstocks.

Sustainability Initiatives:

• Goal to reduce greenhouse gas emissions in its supply chain by 30% per ton of product by 2030

• Partnerships to scale bio-acrylic acid production

---

8️⃣ 3. Neste Corporation

Headquarters: Espoo, Finland
Key Offering: Neste RE™, a renewable hydrocarbon solvent

Known globally for its renewable diesel, Neste has expanded its portfolio to include Neste RE™, a bio-based hydrocarbon solvent. This drop-in solution is ideal for applications requiring high purity and performance, such as industrial cleaning, adhesives, and printing inks, offering a significantly lower carbon footprint.

Sustainability Initiatives:

• Target to enable 15 million tons of CO2 reduction annually by 2030 through customer use of renewable solutions

• Continuous innovation in waste and residue raw material processing

---

7️⃣ 4. DowDuPont Inc. (Dow Chemical Company)

Headquarters: Midland, Michigan, USA
Key Offering: ECOFAST™ Pure Solvent, Bio-based glycol ethers

Dow is a powerhouse in the chemical industry, actively developing a portfolio of sustainable solutions. Its renewable solvent offerings include bio-based versions of traditional solvents, designed to meet stringent environmental and health standards without compromising on performance for Formulators.

Sustainability Initiatives:

• Commitment to transform waste and alternative feedstock into sustainable products

• Alignment of product portfolio with circular economy principles

Download FREE Sample Report: Renewable Solvent Market – View in Detailed Research Report

---

6️⃣ 5. BASF SE

Headquarters: Ludwigshafen, Germany
Key Offering: Bio-based 1,4-Butanediol (BDO), solvent blends with certified renewable content

BASF, a leading chemical company, is deeply invested in creating sustainable solutions through its “ChemCycling” project and bio-based mass balance approach. The company offers solvents with certified renewable content, providing customers with a seamless way to reduce their product carbon footprint.

Sustainability Initiatives:

• Aspiration to achieve CO2-neutral growth until 2030

• Pioneering mass balance approach to integrate renewable feedstocks into integrated production systems (Verbund)

---

5️⃣ 6. Cremer Oleo GmbH & Co. KG

Headquarters: Hamburg, Germany
Key Offering: Natural fatty alcohols, Esters, Glycerine derivatives

Cremer Oleo specializes in oleochemicals derived from natural fats and oils. The company is a key European supplier of renewable solvents like fatty acid methyl esters (FAMEs) and glycerol derivatives, which are widely used in cleaning agents, cosmetics, and industrial applications as biodegradable alternatives.

Sustainability Initiatives:

• Focus on 100% renewable and biodegradable product portfolios

• Certification of sustainable palm oil sourcing (RSPO)

---

4️⃣ 7. Vertec Biosolvents Inc.

Headquarters: Newport, Kentucky, USA
Key Offering: Bio-based replacements for acetone, MEK, and other VOCs

Vertec Biosolvents is a pure-play manufacturer dedicated exclusively to high-performance, bio-based solvents. Their products, derived from corn, soy, and citrus, are designed to directly replace hazardous petrochemical solvents, offering superior performance with enhanced employee and environmental safety.

Sustainability Initiatives:

• Formulation of solvents with 100% bio-based content

• Focus on reducing Volatile Organic Compound (VOC) emissions

---

3️⃣ 8. InKemia Green Chemicals, Inc.

Headquarters: Chicago, Illinois, USA
Key Offering: Bio-Butanol, Ethyl Lactate, other specialty green solvents

InKemia is a technology-driven company focused on developing and commercializing green chemical processes and products. It specializes in niche bio-solvents like ethyl lactate, a non-toxic, biodegradable solvent with excellent solvency properties for coatings, electronics, and agrochemicals.

Sustainability Initiatives:

• Development of eco-friendly chemical synthesis routes

• Promotion of solvents with low environmental impact and high recyclability

---

2️⃣ 9. Godavari Biorefineries Ltd.

Headquarters: Mumbai, Maharashtra, India
Key Offering: Bio-ethanol, Ethyl Acetate, Acetic Acid from sugarcane

Godavari Biorefineries is a significant Indian player in the bio-based chemicals space, utilizing sugarcane as its primary feedstock. The company produces a range of solvents through fermentative and chemical processes, serving both domestic and international markets with sustainable alternatives.

Sustainability Initiatives:

• Integration of circular economy models in sugarcane processing

• Focus on carbon-neutral and waste-to-wealth initiatives

---

1️⃣ 10. AstroBio Solvents

Headquarters: Jacksonville, Florida, USA
Key Offering: Bio-based acetone, toluene, and xylene replacements

AstroBio Solvents focuses on creating high-performance, drop-in replacements for some of the most common and hazardous petroleum-derived solvents. Their products are specifically engineered for industries like aerospace, automotive, and industrial manufacturing, providing a safer, sustainable cleaning and degreasing solution.

Sustainability Initiatives:

• Development of solvents with low vapor pressure and high flash points for enhanced safety

• Commitment to providing biodegradable and non-ozone depleting formulations

Get Full Report Here: Renewable Solvent Market – View in Detailed Research Report

---

🌍 Outlook: The Future of Renewable Solvents Is Integrated and Innovative

The renewable solvent market is at a pivotal juncture, transitioning from a niche segment to a mainstream solution for sustainable manufacturing. While cost and scalability challenges remain, continuous innovation and regulatory support are accelerating adoption across the globe.

📈 Key Trends Shaping the Market:

• Advancements in fermentation and catalytic conversion technologies for bio-based chemicals

• Growing consumer and corporate preference for products with green certifications

• Increasing R&D into second and third-generation feedstocks (e.g., algae, agricultural waste)

• Expansion of government mandates and incentives for bio-based products in North America and Europe

Get Full Report Here: Renewable Solvent Market – View in Detailed Research Report

The companies leading this market are not just supplying chemicals—they are enabling the decarbonization of industry and building the foundation for a circular bio-economy.