Market Size of Bio-based Resins Industry
Study Period | 2019 - 2029 |
Base Year For Estimation | 2023 |
CAGR | 16.00 % |
Fastest Growing Market | Asia Pacific |
Largest Market | Europe |
Market Concentration | Low |
Major Players*Disclaimer: Major Players sorted in no particular order |
Bio-based Resins Market Analysis
The bio-based resins market is expected to record a CAGR of over16%, during the forecast period. The major factors driving the growth of the market studied are the increasing demand for the packaging sector, from theeco-friendly products, and government regulations on synthetic resins. On the flip side, the need for change in cost structure is one of the major stumbling blocks in for the marketstudied.
- The packaging segment dominated the market. It is likely to grow during the forecast period, owing to the growing environmental concerns related to the disposal of packaging materials, and the need for eco-friendly packaging.
- The availability of cheaper alternatives is likely to provide opportunities for the market studied, during the forecast period.
Bio-based Resins Industry Segmentation
The scope of the bio-based resins market report includes:
Type | |
Biodegradable Starch Blends | |
Polylactic Acid (PLA) | |
Bio-polyethylene Terephthalate (Bio-PET) | |
Polyhydroxyalkanoate (PHA) | |
Bio-polyethylene (Bio-PE) | |
Biodegradable Polyesters | |
Other Types |
Application | ||||
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Textiles | ||||
Consumer Goods | ||||
Automotive and Transportation | ||||
Agriculture and Horticulture | ||||
Building and Construction | ||||
Electrical and Electronics | ||||
Other Applications |
Geography | |||||||
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Bio-based Resins Market Size Summary
The bio-based resins market is poised for significant growth, driven by increasing demand in the packaging sector and a shift towards eco-friendly products, supported by government regulations on synthetic resins. The packaging segment, particularly rigid packaging, dominates the market due to its extensive use in various products like bottles and containers. The growing environmental concerns over packaging waste and the need for sustainable solutions are propelling the adoption of bio-based resins. Regions such as North America and Europe are witnessing a rise in the use of these materials due to stringent regulations against harmful substances in packaging. Meanwhile, the Asia-Pacific region is experiencing robust growth in flexible packaging, fueled by the expansion of e-retail and manufacturing sectors, alongside a shift towards biodegradable alternatives to petroleum-based materials.
In Europe, Germany stands out as a key player in the bio-based resins market, driven by demand from packaging, electronics, and construction industries. The rapid growth of the packaging sector in Germany, spurred by increased e-commerce and packaged food consumption, is a significant contributor to market demand. Additionally, the German electronics industry, the largest in Europe, along with rising construction activities, further bolster the market. The bio-based resins market remains fragmented, with numerous players like Ashland Performance Materials, BASF SE, Braskem, Arkema, and DuPont, each holding a small share, collectively influencing market dynamics.
Bio-based Resins Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Drivers
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1.1.1 Environmental Factors Encouraging a Paradigm Shift
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1.1.2 Surging Demand for Bioplastics in Flexible Packaging
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1.2 Restraints
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1.2.1 Lack of Awareness and High Cost Association
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1.2.2 Availability of Cheaper Alternatives
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1.3 Industry Value Chain Analysis
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1.4 Porter's Five Forces Analysis
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1.4.1 Bargaining Power of Suppliers
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1.4.2 Bargaining Power of Consumers
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1.4.3 Threat of New Entrants
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1.4.4 Threat of Substitute Products and Services
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1.4.5 Degree of Competition
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1.5 Patent Analysis
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2. MARKET SEGMENTATION
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2.1 Type
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2.1.1 Biodegradable Starch Blends
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2.1.2 Polylactic Acid (PLA)
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2.1.3 Bio-polyethylene Terephthalate (Bio-PET)
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2.1.4 Polyhydroxyalkanoate (PHA)
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2.1.5 Bio-polyethylene (Bio-PE)
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2.1.6 Biodegradable Polyesters
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2.1.7 Other Types
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2.2 Application
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2.2.1 Packaging
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2.2.1.1 Rigid
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2.2.1.2 Flexible
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2.2.2 Textiles
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2.2.3 Consumer Goods
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2.2.4 Automotive and Transportation
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2.2.5 Agriculture and Horticulture
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2.2.6 Building and Construction
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2.2.7 Electrical and Electronics
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2.2.8 Other Applications
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2.3 Geography
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2.3.1 Asia-Pacific
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2.3.1.1 China
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2.3.1.2 India
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2.3.1.3 Japan
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2.3.1.4 South Korea
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2.3.1.5 Rest of Asia-Pacific
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2.3.2 North America
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2.3.2.1 United States
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2.3.2.2 Canada
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2.3.2.3 Mexico
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2.3.3 Europe
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2.3.3.1 Germany
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2.3.3.2 United Kingdom
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2.3.3.3 France
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2.3.3.4 Italy
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2.3.3.5 Rest of Europe
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2.3.4 South America
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2.3.4.1 Brazil
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2.3.4.2 Argentina
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2.3.4.3 Rest of South America
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2.3.5 Middle East & Africa
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2.3.5.1 Saudi Arabia
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2.3.5.2 South Africa
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2.3.5.3 Rest of Middle East & Africa
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Bio-based Resins Market Size FAQs
What is the current Bio-based Resins Market size?
The Bio-based Resins Market is projected to register a CAGR of greater than 16% during the forecast period (2024-2029)
Who are the key players in Bio-based Resins Market?
Ashland Performance Materials, BASF SE, Braskem, Arkema and DuPont are the major companies operating in the Bio-based Resins Market.