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Solvent Recovery and Recycling Market worth $1,384 million by 2028 - Exclusive Report by MarketsandMarkets™
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.
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.
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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