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North America Solvent Recycling Market: By Type, By Application and Country
North America Solvent Recycling Market: By Type, By Application and Country
North America Solvent Recycling Market size was valued at US$ 909.1 million in 2023 and is expected to grow at a CAGR of 4.4% from 2024 to 2030. Solvent Recycling process comprises reusing the processed solvent dissolution to remove the impurities from postindustrial and postconsumer plastic thereby creating a new solution or products. Moreover, increases in the cost of virgin solvents, raised environmental regulations, and growing demand for sustainable solutions drive the North American solvent recycling market growth. Additionally, increasing focus on the impact of solvent recycling on the environment, strong focus on the creation of an environmentally sustainable industrial framework, and introduction of cost advantages in the processes are some key factors fostering the market growth.
Moreover, the worldwide solvent recycling business has been around for a while, it has only just begun to acquire traction. The technology for enhancing the efficiency and viability of the entire process is still evolving and will do so for the foreseeable future. The Solvent Recycling Equipment uses a distillation process to extract accumulated sand particles and hydrocarbons from the solvent, allowing it to be recycled back into usable solvent. Most solvents used in processes including electroplating, metal finishing, paint and powder coating, parts washing, and vapor degreasing may be recycled, lowering the cost of new solvents and decreasing disposal difficulties. However, the challenges associated with the solvent recycling market include huge investments in R&D and high installation and maintenance costs that are hindering the solvent recycling market growth.
The increasing sterilizing biosafety cabinets, Coomassie staining and destaining, rinsing glass wear, and teaching labs are key factors impacting the North America solvent recycling market. Additionally, the environmental regulations in the USA and Canada have become increasingly stringent in recent years. This has led to increased pressure on businesses to reduce their environmental impact, and solvent recycling is one way to do this. For example, the EPA has set strict regulations on the disposal of hazardous waste, including solvents. This has made it more difficult and expensive for businesses to dispose of solvent waste, which has increased the demand for solvent recycling services. Moreover, Governments in the USA and Canada are offering several incentives to encourage businesses to recycle solvent waste. Governments in the USA and Canada offer tax breaks to businesses that recycle solvent waste. For instance, the US government offers a tax deduction for businesses that recycle solvents.
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Report Benchmarks |
Details |
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Market Size in 2023 |
US$ 909.1 million |
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By Type |
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By Application |
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By Country |
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North America solvent recycling market size was valued at US$ 909.1 million in 2023 and is expected to grow at a CAGR of 4.4% from 2024 to 2030.
USA dominates the North America solvent recycling market.
Yang Linhong, Veolia, Tradebe, Shinko Organic Chemical Industry, Nippon Refine, Maratek Environmental, Gage Products Company, CycleSolv, Clean Planet Chemical, and Clean Harbors.
| 1. Executive Summary |
| 2. North America Solvent Recycling Market Introduction |
| 2.1. North America Solvent Recycling Market - Taxonomy |
| 2.2. North America Solvent Recycling Market - Definitions |
| 2.2.1. Type |
| 2.2.2. Application |
| 2.2.3. Country |
| 3. North America Solvent Recycling Market Dynamics |
| 3.1. Drivers |
| 3.2. Restraints |
| 3.3. Opportunities/Unmet Needs of the Market |
| 3.4. Trends |
| 3.5. Key Developments |
| 4. North America Solvent Recycling Market By Type, 2019-2023 and Forecast 2024-2030 (Sales Value USD Million) |
| 4.1. On-site Solvent Recycling |
| 4.1.1. Market Analysis, 2019-2023 and Forecast, 2024-2030, (Sales Value USD Million) |
| 4.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 4.1.3. Market Opportunity Analysis |
| 4.2. Off-site Solvent Recycling |
| 4.2.1. Market Analysis, 2019-2023 and Forecast, 2024-2030, (Sales Value USD Million) |
| 4.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 4.2.3. Market Opportunity Analysis |
| 5. North America Solvent Recycling Market By Application, 2019-2023 and Forecast 2024-2030 (Sales Value USD Million) |
| 5.1. Printing Industry |
| 5 1 1 Market Analysis, 2019-2023 and Forecast, 2024-2030, (Sales Value USD Million) |
| 5.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.1.3. Market Opportunity Analysis |
| 5.2. Pharmaceutical Industry |
| 5.2.1. Market Analysis, 2019-2023 and Forecast, 2024-2030, (Sales Value USD Million) |
| 5.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.2.3. Market Opportunity Analysis |
| 5.3. Painting and Coating Industry |
| 5.3.1. Market Analysis, 2019-2023 and Forecast, 2024-2030, (Sales Value USD Million) |
| 5.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.3.3. Market Opportunity Analysis |
| 5.4. Oil and Chemical Industry |
| 5.4.1. Market Analysis, 2019-2023 and Forecast, 2024-2030, (Sales Value USD Million) |
| 5.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.4.3. Market Opportunity Analysis |
| 5.5. Others |
| 5.5.1. Market Analysis, 2019-2023 and Forecast, 2024-2030, (Sales Value USD Million) |
| 5.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.5.3. Market Opportunity Analysis |
| 6. North America Solvent Recycling Market By Country, 2019-2023 and Forecast 2024-2030 (Sales Value USD Million) |
| 6.1. USA |
| 6.1.1. Market Analysis, 2019-2023 and Forecast, 2024-2030, (Sales Value USD Million) |
| 6.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.1.3. Market Opportunity Analysis |
| 6.1. Canada |
| 6.2.1. Market Analysis, 2019-2023 and Forecast, 2024-2030, (Sales Value USD Million) |
| 6.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.2.3. Market Opportunity Analysis |
| 6.6. North America Solvent Recycling Market - Opportunity Analysis Index, By Application, Type, and Country, 2024-2030 |
| 7. USA Solvent Recycling Market, 2019-2023 and Forecast 2024-2030 (Sales Value USD Million) |
| 7.1. Type Analysis, 2019-2023 and Forecast 2024-2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 7.1.1. On-site Solvent Recycling |
| 7.1.2. Off-site Solvent Recycling |
| 7.2. Application Analysis, 2019-2023 and Forecast 2024-2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 7.2.1. Printing Industry |
| 7.2.2. Pharmaceutical Industry |
| 7.2.3. Painting and Coating Industry |
| 7.2.4. Oil and Chemical Industry |
| 7.2.5. Others |
| 8. Canada Solvent Recycling Market, 2019-2023 and Forecast 2024-2030 (Sales Value USD Million) |
| 8.1. Type Analysis, 2019-2023 and Forecast 2024-2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 8.1.1. On-site Solvent Recycling |
| 8.1.2. Off-site Solvent Recycling |
| 8.2. Application Analysis, 2019-2023 and Forecast 2024-2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 8.2.1. Printing Industry |
| 8.2.2. Pharmaceutical Industry |
| 8.2.3. Painting and Coating Industry |
| 8.2.4. Oil and Chemical Industry |
| 8.2.5. Others |
| 9. EMEA Solvent Recycling Market, 2019-2022 and Forecast 2024-2030 (Sales Value USD Million) |
| 9.1. Type Analysis, 2019-2022 and Forecast 2024-2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.1.1. On-site Solvent Recycling |
| 9.1.2. Off-site Solvent Recycling |
| 9.2. Application Analysis, 2019-2022 and Forecast 2024-2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.2.1. Printing Industry |
| 9.2.2. Pharmaceutical Industry |
| 9.2.3. Painting and Coating Industry |
| 9.2.4. Oil and Chemical Industry |
| 9.2.5. Others |
| 9.3. Country Analysis, 3019-3033 and Forecast 3033-3039 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.3.1. Germany |
| 9.3.3. France |
| 9.3.3. Spain |
| 9.3.4. UK |
| 9.3.5. Italy |
| 9.3.5. GCC Countries |
| 9.3.5. South Africa |
| 9.3.5. Rest of EMEA |
| 10. Competition Landscape |
| 10.1. Strategic Dashboard of Top Market Players |
| 10.2. Company Profiles (Introduction, Financial Analysis, By Product Offerings, Key Developments, Strategies, and SWOT Analysis) |
| 10.2.1. Veolia Group |
| 10.2.2. Maratek |
| 10.2.3. Clean Harbors, INC |
| 10.2.4. CBG Biotech |
| 10.2.5. Aimco Solrec Limited |
| 10.2.6. Eastman Kodak Company |
| 10.2.7. Koch Modular |
| 10.2.10. Univar Solutions Inc. |
| 10.2.10. CleanPlanet Chemical |
| 10.2.10. NexGen Enviro Systems Inc. |
| 11. Research Methodology |
| 12. Key Assumptions and Acronyms |
Key Market Players
Author
Prem Kumar with profound experience and sound knowledge across a wide range of market forecasting methods, demand forecasting, and pricing analysis, I am able to make precise projections. I have extensive practical knowledge in Time Series Analysis (TSA), Simple Linear Regression (SLR), Multiple Linear Regression (MLR), Seasonality & Trend Forecasting, and Forecasting Models for New Products, among others. Additionally, I have hands-on experience with tools such as Power BI and SQL. I am highly committed, self-motivated, and possess a strong entrepreneurial spirit. Over the past 8 years, my team and I have built a robust clientele in various sectors, including Packaging, Pharma, Medical Devices, Oil & Gas, and Chemicals & Materials. We have provided a wide range of services, from management consulting to market forecasting and survey-related projects. I am particularly proud to have provided consulting services to one of the industry’s leading COVID-19 vaccine manufacturers for a packaging-related project. In the packaging space, I have served clients across a range of segments, including packaging printing, consumer packaging, flexible packaging, rigid packaging, and pharmaceutical packaging, to name a few. I deeply appreciate the efforts of my team and am grateful to our clients for their continued trust.