Bio-based Resins Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2019 - 2029

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Bio-based Resins Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2019 - 2029

Status : March, 2023 | Chemical & Materials

Report Digest

Global Bio-based Resins Market: Introduction

Bio-based resin is resin type which is derived whose constituent monomers are derived from bio-based or biological sources. Generally bio-based resins are generally derived from plant based sources mainly soybean or corn. Bio-based resins are derived from byproducts of bio-fuel refinement or vegetable oils. Apart from it bio-based resins are also derived from plant based materials such as sugarcane, potatoes, beets, algae, lignocellulose etc. Corn and soybean are most widely used owing to their wide availability. Bio-resins are gaining significant demand, as they reduce the dependency on petrochemical feedstock and are part of green chemistry. Adoption of bio-based resins is shielding the manufacturers from fluctuation of petrochemical feedstock prices. There are different types of bio-based resins available in the commercial market. Bio-based epoxy, bio-based polyesters, bio-based polyamides, starch blends etc. are some of the types of bio-based resins. Over the years bio-based resins have found various application in different industries such as automotive & transportation, building & construction, packaging, textile, coatings etc. Bio-based resins have better product life cycle than its petroleum based counterpart. Bio-based resins can easily be recycled and are bio-degradable. Continuous product innovation and advancement of manufacturing process are important aspects of the bio-based resins market. 

Global Bio-based Resins Market: Dynamics

Growing environmental awareness and increasing number of stringent environmental regulations has compelled manufacturers to adopt ecological and bio-based materials, which is prime factor responsible for the growth of bio-based resins market. Aspiration towards lowering the carbon footprint and tackling the fluctuating petrochemical feedstock prices is one of the primary aspect driving the demand for bio-based resins. Increasing demand for green technology and changing consumer preference is estimated to positively influence the bio-based resins market growth. In building & construction sector there is rising emphasis towards green construction materials for development of sustainable buildings. This changing trend in construction industry is backed by government initiatives in developed as well as developing regions. Therefore, building & construction industry growth is anticipated to bolster the growth of bio-based resins market. In automotive industry OEMs are looking towards light-weight, efficient and lower carbon footprint products which in turn is rising the demand for bio-based resins. Bio-plastics are finding crucial role in packaging industry, hence increasing consumption of bio-plastics in packaging industry is fueling the demand for bio-based resins. High product cost and the need for advanced manufacturing technology might act as restraining factor for the market.  Innovation of manufacturing process and continuous  research & development are key trends observed in bio-based resins market.

Global Bio-based Resins Market: Segmentation

The global bio-based resins market can be segmented on the basis of its product type and end use:

The global bio-based resins market is segmented on the basis of its product type:

  • Bio-based epoxy
  • Starch blends
  • Bio-based polyolefins
  • Bio-based polyamides
  • Bio-based polyesters
    • Saturated
    • Unsaturated
  • Others

The global bio-based resins market is segmented on the basis of its end use:

  • Textile
  • Packaging
  • Automotive & Transportation
  • Building & Construction
  • Coatings
  • Plastic & polymer
  • Electrical & Electronics
  • Consumer Goods
  • Others

Global Bio-based Resins Market: Regional Outlook

Increased number of stringent environmental regulation and rising corporate aspiration towards lower carbon footprint in the regions such as North America and Europe.  Also increasing green & sustainable initiatives coupled with growing demand for bio-based products from OEM makes Europe and North America prominent market regions. Industries such as building & construction, automotive & transportation, packaging, electronics among others are estimated to witness substantial growth in Asia Pacific region. Also in Asia Pacific there is shifting trend towards the adoption of bio-based materials due to rising environmental awareness and government initiatives. Owing to the above factors Asia Pacific can be attributed as promising market for bio-based region. LAMEA is anticipated to be high potential market owing to rising demand for ecological products and adoption of green technology innitiatives.

Global Bio-based Resins Market: Key Participants

Examples of some of the market participants operating in the global bio-based resins market are:

BASF SE, Arkema Group, Solvay SA, DuPont Tate & Lyle Bio Products Company, LLC, Braskem, Ashland Performance Materials, AEP Polymers, Archer Daniels Midland (ADM), INEOS Composites, Reichhold LLC, Biotec and AOC Resins among others

The Bio-based resins market research report presents a comprehensive assessment of the Bio-based resins market and contains thoughtful insights, facts, and historical data and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The Bio-based resins market research report provides analysis and information according to Bio-based resins market segments such as geographies, application and industry.

The report covers exhaustive analysis on,

  • Bio-based resins Market Segments
  • Bio-based resins  Market Dynamics
  • Bio-based resins  Market Size
  • Bio-based resins Supply & Demand Scenario
  • Current Trends/Issues/Challenges in Bio-based resins market
  • Competition & Companies involved in Bio-based resins market
  • Technology used in Bio-based resins Market
  • Value Chain of Bio-based resins Market

The Bio-based resins Market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with Bio-based resins market attractiveness as per segments. The report also maps the qualitative impact of various market factors on Bio-based resins market segments and geographies.

Report Highlights:

  • Detailed overview of parent market
  • Changing Bio-based resins market dynamics in the industry
  • In-depth Bio-based resins market segmentation
  • Historical, current and projected market size in terms of volume and value
  • Recent industry trends and developments
  • Competitive landscape in Bio-based resins market
  • Strategies of key players and products offered in Bio-based resins market
  • Potential and niche segments, geographical regions exhibiting promising
  • A neutral perspective on Bio-based resins market performance
  • Must-have information for market players to sustain and enhance their market footprint

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5-Point Growth Formula

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The 5-point growth formula includes the following points:

  • Current and Future Threats
  • Accurate Trend Analysis
  • Regional Assessment
  • Industrial Analogy
  • COVID-19 Impact

Current and Future Threats

Along with studying the opportunities necessary for growth, threats are also an important aspect to look upon for the companies and stakeholders in a specific sector. TMR Research studies every negative aspect that will hinder the growth of a specific area of business and includes it in the report. The stakeholders and CXOs will have the benefit of assessing the threat and take the necessary steps to prevent the hindrance caused due to the threats.

Accurate Trend Analysis

Keeping up with the latest trends is crucial in any business or sector. While stakeholders are aware of the trends that are on the surface, TMR Researchers find trends that are deeply entrenched in the particular market or sector. The reports are constantly updated with the latest trends so that the stakeholders and CXOs can derive benefits from the trends and generate good revenues.

Regional Assessment

Demography forms an important part of the growth pattern of all the markets. Diving deep into the demographics enables maximum output from specific areas. The TMR Research team assesses every region and picks out the vital points that have a large impact on the growth of a market.

Industrial Analogy

The analysts at TMR Research conduct an all-round analysis on the competitive landscape of the market. The observations recorded by the analysts are added to the reports so that every stakeholder gets a glimpse of the competitive scenario and frame their business plans according to the situation.

COVID-19 Impact

The COVID-19 outbreak has changed the growth projections of numerous sectors and businesses. The analysts at TMR Research have conducted a conscientious survey on the markets after the pandemic struck. The analysts have put forth their brilliant and well-researched opinions in the report. The opinions will help the stakeholders to plan their strategy accordingly.

The reports offer answers to the top 7 questions that revolve around the growth of the market

  • What are the diverse growth parameters influencing the market?
  • Which regions will contribute largely to the growth of the market
  • What are the recent innovations and technological advancements in the market?
  • What are the emerging trends across the market?
  • How has COVID-19 affected the market?
  • What will be the post-pandemic scenario of the market?
  • What are the major threats that will dent the growth prospects of the market?