Bio-based Resins

Global Bio-based Resins Market to Reach US$10.4 Billion by 2030

The global market for Bio-based Resins estimated at US$5.6 Billion in the year 2023, is expected to reach US$10.4 Billion by 2030, growing at a CAGR of 9.2% over the analysis period 2023-2030. Biodegradable Resins, one of the segments analyzed in the report, is expected to record a 9.7% CAGR and reach US$7.0 Billion by the end of the analysis period. Growth in the Non-Biodegradable Resins segment is estimated at 8.3% CAGR over the analysis period.

The U.S. Market is Estimated at US$1.5 Billion While China is Forecast to Grow at 12.7% CAGR

The Bio-based Resins market in the U.S. is estimated at US$1.5 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$2.2 Billion by the year 2030 trailing a CAGR of 12.7% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 6.8% and 7.9% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 7.3% CAGR.

Global Bio-Based Resins Market - Key Trends & Drivers Summarized

What Are Bio-Based Resins, and Why Are They Important for Sustainable Manufacturing?

Bio-based resins are a type of polymer derived from renewable biological sources such as plant starch, vegetable oils, and other agricultural products. Unlike traditional resins made from petroleum-based materials, bio-based resins offer a more environmentally friendly alternative, reducing dependence on fossil fuels and lowering the carbon footprint of the manufacturing processes. These resins are increasingly used across industries, including packaging, automotive, construction, and consumer goods, where sustainability is becoming a critical concern. Bio-based resins can be biodegradable or recyclable, making them highly attractive for companies looking to align their products with eco-friendly practices. As the global focus on reducing plastic waste and achieving circular economy goals intensifies, bio-based resins play an essential role in creating more sustainable products and packaging solutions.

How Are Technological Innovations Improving the Performance of Bio-Based Resins?

Technological advancements have significantly enhanced the properties and applications of bio-based resins, making them competitive with conventional petroleum-based plastics. Innovations in polymer science have led to the development of bio-based resins that offer improved mechanical strength, durability, and heat resistance, making them suitable for more demanding applications, such as in the automotive and electronics sectors. Additionally, new methods of synthesizing bio-based polymers, such as advanced fermentation processes and the use of genetically modified microorganisms, have made production more efficient and scalable. These innovations are enabling manufacturers to develop bio-based alternatives with performance characteristics that match or exceed traditional resins, broadening their adoption across various industries. Furthermore, blending bio-based resins with other materials has led to the creation of hybrid solutions that offer enhanced properties while maintaining the environmental benefits of renewable materials.

Why Are Regulatory and Consumer Trends Fueling Demand for Bio-Based Resins?

The increasing regulatory pressure to reduce plastic waste and lower carbon emissions is a major driver behind the growing demand for bio-based resins. Governments around the world are implementing stricter environmental regulations, such as bans on single-use plastics and mandates for higher recycling rates, which are pushing industries to adopt more sustainable materials. In Europe, for instance, the European Green Deal and other environmental policies are encouraging manufacturers to use bio-based alternatives in packaging and production. In addition, consumer preferences are shifting toward environmentally responsible products, leading to a surge in demand for bio-based and biodegradable materials. Brands are responding by integrating bio-based resins into their products and packaging to meet consumer expectations for sustainability. As awareness of the environmental impact of plastic waste grows, companies across sectors are increasingly opting for bio-based resins to enhance their eco-friendly credentials.

What Is Driving the Growth of the Global Bio-Based Resins Market?

The growth in the global bio-based resins market is driven by several factors, including advancements in bio-polymer technology, stringent environmental regulations, and rising consumer demand for sustainable products. One of the key drivers is the growing regulatory push for reducing plastic waste and promoting the use of renewable materials. Additionally, the increasing adoption of bio-based resins in industries such as packaging, automotive, and construction is boosting market demand as companies look to meet sustainability goals. Technological innovations are enabling the production of high-performance bio-based resins that can compete with conventional plastics in terms of durability and functionality, further accelerating market growth. Consumer demand for eco-friendly products, particularly in the packaging and consumer goods sectors, is also driving manufacturers to adopt bio-based alternatives. As industries increasingly prioritize sustainability and environmental responsibility, the market for bio-based resins is expected to expand significantly in the coming years.

Select Competitors (Total 43 Featured) -

• Archer Daniels Midland Company
• Arkema Group
• Ashland, Inc.
• BASF SE
• Braskem SA
• Danimer Scientific
• DuPont de Nemours, Inc.
• Gougeon Brothers, Inc.
• Jiangmen Xinshuo New Materials Co., Ltd
• Kukdo Chemical Co., Ltd.

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