Bio-based Resins Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2019 - 2029
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:
The global bio-based resins market is segmented on the basis of its end use:
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,
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.
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