Global Solvent Recovery and Recycling Market size was valued at USD 1.2 Billion in 2024 and is expected to reach USD 2.3 Billion by 2033, at a CAGR of 6.7% during the forecast period 2024 – 2033.
Solvent Recovery and Recycling Market: Overview
Solvent recovery and recycling involve processes aimed at reclaiming and reusing solvents used in various industrial applications, such as manufacturing, chemical processing, and pharmaceutical production. These solvents, which can include organic compounds like acetone, methanol, toluene, and ethyl acetate, are often employed for their solvent properties in dissolving, dispersing, or diluting other substances.
An emerging trend in solvent recovery and recycling is the adoption of advanced technologies to improve efficiency and sustainability. Companies are increasingly investing in innovative processes such as membrane filtration, supercritical fluid extraction, and advanced distillation techniques to enhance solvent recovery rates and reduce energy consumption.
These technologies enable more precise separation and purification of solvents from waste streams, resulting in higher-quality recovered products suitable for reuse in various industrial applications. Another trend is the implementation of closed-loop systems and integrated waste management solutions.
Companies are focusing on creating closed-loop processes where solvents are continuously recycled within their operations, minimizing the need for fresh solvent procurement and reducing waste generation.
Additionally, there is a growing emphasis on holistic waste management strategies that prioritize solvent recovery and recycling alongside other sustainable practices such as waste reduction, reuse, and energy recovery. These trends reflect the industry’s commitment to maximizing resource efficiency, reducing environmental impact, and driving towards a circular economy model.
By product type, on-site segment held the highest market share in 2023 and is expected to keep its dominance during the forecast period 2024-2033. On-site solvent recovery and recycling solutions enable industries to efficiently reclaim and reuse solvents from their processes, reducing waste and environmental impact while improving resource efficiency and cost-effectiveness.
By process technology, the distillation segment held the highest market share in 2023 and is expected to keep its dominance during the forecast period 2024-2033. Distillation is a separation process used to purify liquids by heating them to their boiling points, and then collecting and condensing the vapors to separate components based on their different boiling points.
By application, the Paints & Coatings segment held the highest market share in 2023 and is expected to keep its dominance during the forecast period 2024-2033. Paints & coatings are essential for protecting and beautifying surfaces in various industries. They provide durability, corrosion resistance, and aesthetic appeal to surfaces, enhancing functionality and appearance in diverse applications.
North America’s solvent recovery and recycling industry thrives through companies like Maratek, Clean Harbors, and Veolia, employing advanced technologies to sustainably manage industrial solvents and reduce environmental impact.
Clean Harbors, Inc. is an American provider of environmental and industrial services, including hazardous waste disposal for companies, small waste generators and federal, state, provincial and local governments.
Report Scope
| Feature of the Report | Details |
| Market Size in 2024 | USD 1.2 Billion |
| Projected Market Size in 2033 | USD 2.3 Billion |
| Market Size in 2023 | USD 1.1 Billion |
| CAGR Growth Rate | 6.7% CAGR |
| Base Year | 2023 |
| Forecast Period | 2024-2033 |
| Key Segment | By Product Type, Process Technology, Application and Region |
| Report Coverage | Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends |
| Regional Scope | North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America |
| Buying Options | Request tailored purchasing options to fulfil your requirements for research. |
CMI has comprehensively analyzed the Global Solvent Recovery and Recycling market. The driving forces, restraints, challenges, opportunities, and key trends have been explained in depth to depict the in-depth scenario of the market. Segment wise market size and market share during the forecast period are duly addressed to portray the probable picture of this Global Solvent Recovery and Recycling industry.
The competitive landscape includes key innovators, after market service providers, market giants as well as niche players are studied and analyzed extensively concerning their strengths, weaknesses as well as value addition prospects. In addition, this report covers key players profiling, market shares, mergers and acquisitions, consequent market fragmentation, new trends and dynamics in partnerships.
List of the prominent players in the Solvent Recovery and Recycling Market:
- Maratek
- Envirotec
- Tradebe
- Novasys Group
- OFRU Recycling
- Indaver
- Veolia
- Clean Planet Chemical
- CycleSolv
- Clean Harbors
- Nippon Refine
- Shinko Organic Chemical Industry
- Yang Linhong
- IST Pure
- CBG Technologies
- Quanzhou Tianlong
- CBG Biotech
- Others
The Solvent Recovery and Recycling Market is segmented as follows:
By Product Type
- On-Site
- Off-Site
By Process Technology
- Adsorption
- Distillation
- Liquid-Liquid Extraction
- Membrane Separation
By Application
- Paints & Coatings
- Printing
- Chemicals
- Electronics
- Pharmaceuticals
Regional Coverage:
North America
- U.S.
- Canada
- Mexico
- Rest of North America
Europe
- Germany
- France
- U.K.
- Russia
- Italy
- Spain
- Netherlands
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- New Zealand
- Australia
- South Korea
- Taiwan
- Rest of Asia Pacific
The Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of the Middle East & Africa
Latin America
- Brazil
- Argentina
- Rest of Latin America