Global Bio-Based Resins Market, By Type (Biodegradable Starch Blends, Polylactic Acid, Bio-polyethylene Terephthalate, Polyhydroxyalkanoate, Bio-polyethylene, Biodegradable Polyesters), Application (Packaging, Textile, Consumer Goods, Automotive and Transportation, Agriculture and Horticulture, Building and Construction, Electrical and Electronics, Other Applications), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2029.
Market Analysis and Insights of Bio-Based Resins Market
The bio-based resins market is expected to gain market growth in the forecast period of 2022 to 2029. Data Bridge Market Research analyses that the market will rise up to USD 296,158.2 million by 2029 and to grow at a CAGR of 16.4% in the above-mentioned forecast period.
A bio-based resin are basically the resin which derives some or all of its constituent monomers from biological sources, such as plant. The bioplastics made from bio-based resins provide the packaging industry with a renewable sustainable option, for a variety of uses.
The factors such as growing demand form automotive industries especially for interior products are the root cause fueling up the market growth rate. The factors expected to cushion the growth of the bio-based resins market in the forecast period are the growing food and beverage companies and innovation in the packaging industry and growing demand for bio-based resin for stable timber construction which will further carve the way for the growth of market. Moreover, the growing public interest towards sustainable and environment-friendly products to avoid pollution or disposal of packaging materials are further expected to cushion the overall markets growth. On the other hand, the factors such as the volatile raw material prices coupled with the higher cost of bio-based resin are also projected to hamper market’s overall growth.
The acquisitions and research and development activities along with the technology launches by various well established manufacturers are estimated to generate numerous opportunities for the market. On the flip side, the decline in packaging sector due to restrictions caused by COVID-19 is projected to pose as a major challenge to the growth of the bio-based resins market.
This bio-based resins market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. To gain more info on bio-based resins market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Bio-Based Resins Market Scope and Market Size
The bio-based resins market is segmented on the basis of type and application. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target market.
- On the basis of type, the bio-based resins market is segmented into biodegradable starch blends, polylactic acid, bio-polyethylene terephthalate, polyhydroxyalkanoate, bio-polyethylene and biodegradable polyesters.
- On the basis of application, the bio-based resins market is segmented into packaging, textile, consumer goods, automotive and transportation, agriculture and horticulture, building and construction, electrical and electronics and other applications.
Bio-Based Resins Market Country Level Analysis
The bio-based resins market is analyzed and market size, volume information is provided by type and application as referenced above.
The countries covered in the bio-based resins market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Asia-Pacific dominates the bio-based resins market owing to the increasing demand from end use industries such as packaging, construction and others within the region. North America on the other hand, will continue to however show lucrative growth within the forecast period owing to their high resistance to solvents and oils while they can be used at higher temperatures than other types of rubbers.
The country section of the bio-based resins market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Bio-Based Resins Market Share Analysis
The bio-based resins market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to bio-based resins market.
Some of the major players operating in the bio-based resins market report are Arkema, Biotec, Braskem, Corbion, Danimer Scientific, INEOS AG, DuPont, Natureworks LLC, Scott Bader Company Ltd., Futerro, Xinyang Technology Group, Reichhold LLC 2, AOC, BASF SE, Dow, DSM, Ashland, DuPont, SWANCOR, LANXESS, ALLNEX GMBH, Polynt, UPC Technology Corporation, U-PICA Company.Ltd, Trinseo, Japan Society for Composite Materials, Jiangsu Fullmark Chemicals Co, Ltd, CHANGZHOU HUARI STEEL BALL CO., LTD., and Weifang Zeyuan Chemical Co., Ltd., among others.
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