Solvent Recovery and Recycling Market worth $1,384 million by 2028 | Key players Veolia (France), CycleSolv LLC (US), Tradebe Environmental Services (US), Clean Harbors (US).

According to recent market research the "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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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.

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 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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CycleSolv LLC is a chemical services company that provides a comprehensive range of solutions for chemical users. The company offers a complete range of services for the chemical user: including recycling of spent solvent streams, disposal of wastes including non-hazardous waste, and sales of specialty chemicals and solvents. The company specializes in the recycling of spent solvent streams, the company offers the flexibility of on-site or off-site distillation through its fleet of mobile recycling units. The company is dedicated to offering environmentally friendly and cost-effective solutions, emphasizing sustainable practices in chemical management for its clients. The company has a presence in the US.

Tradebe Environmental Services is an environmental services company that provides hazardous waste management solutions. The company focuses on the collection, treatment, recycling, and disposal of hazardous and non-hazardous waste. This includes industrial waste, chemical waste, and other types of waste generated by businesses and industries. The company operates in various segments such as hazardous waste management, waste-to-energy, industrial field services, lab pack & chemical management, and specialty waste management. The company serves all industries, from petrochemicals to aerospace and hospitals, with unparalleled safety and quality standards.

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