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.
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.
The Global Bio-Based Resins Market had reached xxx million USD with a CAGR xx from 2015-2019. Later on, it will go to xxx million USD in 2020 with a CAGR xx % from 2020 - 2026.
In the global Bio-Based Resins Market, This report focuses particularly in North America, South America, Europe and Asia-Pacific, and Middle East and Africa. This report classifies the Market on the basis of application, type, regions, and manufactures.
In Market segmentation by manufacturers, the report covers the following companies-
Arkema
Ashland
BASF
DuPont
Huntsman International
In Market segmentation by geographical regions, the report has analysed the following regions-
North America (USA, Canada and Mexico)
Europe (Germany, France, UK, Russia and Italy)
Asia-Pacific (China, Japan, Korea, India and Southeast Asia)
South America (Brazil, Argentina, Columbia etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
In Market segmentation by types :
Non-Biodegradable Bio-Based Resins
Biodegradable Bio-Based Resins
In Market segmentation by applications :
Packaging
Automotive
Construction
Others
The research provides answers to the following key questions:
• What is the estimated growth rate and Market share and size of the Bio-Based Resins Market for the forecast period 2020 - 2026?
• What are the driving forces in the Bio-Based Resins Market for the forecast period 2020 - 2026?
• Who are the prominent Market players and how have they gained a competitive edge over other competitors?
• What are the Market trends influencing the progress of the Bio-Based Resins industry worldwide?
• What are the major challenges and threats restricting the progress of the industry?
• What opportunities does the Market hold for the prominent Market players?