Global Bio Based Resin Market was valued US$ 9.051 Bn in 2017 and is estimated to reach US$ 28.451 Bn by 2026 at a CAGR of 15.39%.
Increasing demand from sector such as aerospace, wind energy, packaging and paints and coatings is the primary growth driver for bio based resin market. In addition, government regulations on synthetic resins favors the market growth. Penetration of bio based resin upcoming application will create an opportunity for market. Robust growth of construction industry is fuelling the demand for paints and coatings thereby demanding the bio based resin. Bio based resin demand will be propelled by to the aerospace industry’s demand for epoxy resins as raw materials for manufacturing aircrafts. However, high production cost of bio resin act as a restraining factor for market growth.
Non-biodegradable segment accounts for the largest share and is expected to grow at a substantial rate in response to growing importance of sustainable packaging in countries, such as China and India. Polyethylene terephthalate, bio-polyol and polyurethane, bio-polyamides, bio-polytrimethylene terephthalate are various types of non-biodegradable bio-based resins. Among non-biodegradable segment, bio-based polyethylene terephthalate (PET) is increasingly used in the manufacture of bottle caps, mineral water bottles, carbonated soft drink (CSD) bottles, and dairy packaging thereby fuelling the market’s growth.
Europe held the largest market share and is expected to retain throughout the forecast period. Increasing penetration of compostable bio-based waste bags and government subsidies in promoting biodegradable resins is driving the market growth in Europe. In addition, growing research, aims at developing bio-based resins and fiber reinforcements to produce new sustainable thermoset composites for the demanding construction and automotive sectors, is also expected to augment the demand. The Asia Pacific region is estimated as dominant in terms of consumption of bio-based epoxy resins during the forecast period which can be attributed to the intense presence of end-use industries such as composites, electronics, coatings, etc.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding bio based resin market dynamics, structure by identifying and analyzing the market segments and project the market size. Further, the report also focuses on a competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address questions of shareholders to prioritizing the efforts and investment in the near future to the emerging segment in Bio based resin market.
The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.
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Scope of Global Bio Based Resin Market
Global Bio Based Resin Market, By Product:
o Cellulose Derivatives
o Polyvinyl Alcohol
o Bio Epoxy Resins
o Polylactic acid (PLA)
o Polyglycolic acid (PGA)
o Polycaprolactone (PCL)
o Polyhydroxybutyrate (PHB)
o Polybutylene Succinate (PBS)
o Polyhydroxyalkanoates (PHA)
o Biopolyethylene Terephthalate (PET).
o Biopolyols and Polyurethane.
o Biopolytrimethylene Terephthalate (PTT).
o Bio-Polypropylene (PP)
Global Bio Based Resin Market, By End-user:
• Food & Beverage
• Household and Consumable Goods
Global Bio Based Resin Market, by Region:
• North America
• South America
• Asia Pacific
• Middle East & Africa
Key Player analyzed in the Report:
• DuPont Tate and Lyle
• Wageningen UR
• Archer Daniels Midland
• John Deere
• Dow Chemical
• Cargill Nature Works
• Ashland Performance Materials
• Nature Composites
• Agri- Fibers Inc.
• Absecon Mills
• Etech Surf
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