Global Bio-Based Resins Market Growth 2023-2029

Global Bio-Based Resins Market Growth 2023-2029

Bio-based resins are synthetic compounds made from renewable raw materials. These resins are different from conventional resins and are used for the manufacturing of various products such as packaging materials, furniture, carpets, films, bottles, cups, and automotive parts. Raw materials required for the production of bio-based resins are sugar cane, wood pulp, soybean, coffee, castor plant seeds, corn, and many other plant-, marine-, and forestry-based materials.

LPI (LP Information)' newest research report, the “Bio-Based Resins Industry Forecast” looks at past sales and reviews total world Bio-Based Resins sales in 2022, providing a comprehensive analysis by region and market sector of projected Bio-Based Resins sales for 2023 through 2029. With Bio-Based Resins sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Bio-Based Resins industry.

This Insight Report provides a comprehensive analysis of the global Bio-Based Resins landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Bio-Based Resins portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms' unique position in an accelerating global Bio-Based Resins market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Bio-Based Resins and breaks down the forecast by type, by application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Bio-Based Resins.

The global Bio-Based Resins market size is projected to grow from US$ 31 million in 2022 to US$ 64 million in 2029; it is expected to grow at a CAGR of 64 from 2023 to 2029.

Growing consumer interest toward eco-friendly packaging materials is expected to drive the market during the forecast period. Factors, such as rising sales of green products (as they offer functional benefits), and need for sustainable manufacturing process, are expected to stimulate the demand for bio packaging materials made by bio resins. Also, these growing consumer preference for eco-friendly packaging is resulting in shifting interest among plastic manufacturers toward bio resin-based products, thereby driving the market. Europe accounted for the largest market share during 2016 and will retain its market dominance during the predicted period. The European market is witnessing a high rate of penetration of compostable bio-based waste bags and loose-fill packaging materials. The provision of subsidies from the governments to promote the use of bio-based or biodegradable resins will fuel the use of bio-based resins across various end users in this region.

This report presents a comprehensive overview, market shares, and growth opportunities of Bio-Based Resins market by product type, application, key manufacturers and key regions and countries.

Market Segmentation:

Segmentation by type
Non-Biodegradable Bio-Based Resins
Biodegradable Bio-Based Resins

Segmentation by application
Packaging
Automotive
Construction
Others

This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
Arkema
Ashland
BASF
DuPont
Huntsman International

Key Questions Addressed in this Report

What is the 10-year outlook for the global Bio-Based Resins market?

What factors are driving Bio-Based Resins market growth, globally and by region?

Which technologies are poised for the fastest growth by market and region?

How do Bio-Based Resins market opportunities vary by end market size?

How does Bio-Based Resins break out type, application?

What are the influences of COVID-19 and Russia-Ukraine war?

Please note: The report will take approximately 2 business days to prepare and deliver.