Bio-Based Resins Market by Type, Application, and Geography - Forecast and Analysis 2021-2025

The bio-based resins market share is expected to increase by 17.76 million tons from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 11.82%.

The market research report provides valuable insights into the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentation by application (packaging, automotive, construction, and others), type (non-biodegradable and biodegradable), and geography (Europe, North America, APAC, South America, and MEA).

The bio-based resins market report also offers information on several market vendors, including Archer Daniels Midland Co., Arkema SA, Ashland Global Holdings Inc., BASF SE, Braskem SA, DuPont de Nemours Inc., Huntsman Corp., Koninklijke DSM NV, Novamont SpA, and Trinseo SA among others.

Archer Daniels Midland Co. - The company offers bio-based resins such as industrial oils, acidulants, and solvents. The Ag Services and Oilseeds segment includes global activities related to the origination, merchandising, transportation, and storage of agricultural raw materials, and the crushing and further processing of oilseeds such as soybeans and soft seeds into vegetable oils and protein meals.

What will the Bio-Based Resins Market Size be During the Forecast Period?

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Parent Market Analysis

Technavio categorizes the global bio-based resins market as a part of the global speciality chemicals market. Our research report extensively covers external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the bio-based resins market during the forecast period. 

Bio-Based Resins Market: Key Drivers, Trends, and Challenges

Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

Key Bio-Based Resins Market Driver

• The rising consumer appeal towards eco-friendly packaging materials will drive the growth prospects for the bio-based resins market.
• Factors including the increasing sales of natural products, the use of green products with functional benefits, and the need for sustainable manufacturing processes will stimulate the demand for bio-packaging materials made from bio-resins.
• Major plastics manufacturers and packaging vendors are increasingly shifting toward the use of bio-packaging products due to the rising preference for eco-friendly packaging materials among consumers. Also, the increasing number of governmental regulations, the need to meet corporate sustainability goals, and the inclination toward the green branding of products will further fuel the adoption of bio-based resins in the market.

Key Bio-Based Resins Market Challenge

• The cost-effectiveness of conventional resins over bio-based resins will be a major challenge for the bio-based resins market during the forecast period.
• The relatively higher price of bio-based resins compared with conventional resins is a major challenge faced by the market.
• The lack of adequate technology and the lack of availability of feedstock are increasing the prices of bio-based materials. Some of the bio-based resins products are approximately several times costlier when compared with conventional resins products.
• The rising prices of renewable raw materials such as corn used for the manufacturing of bioplastics are also hindering the market growth. The high price of bio-based resins will reduce the demand as consumers will switch to cheaper conventional resins.
• The cost of production of bio-based resins is 25%-50% more than conventional resins. This is mainly due to the high polymerization cost. In addition, most of the processes are in the developing stage and have not achieved an economy of scale. 

This bio-based resins market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Bio-Based Resins Market Value Chain Analysis

Our In-house experts produce extensive information on the value chain and parent market of the bio-based resins market, which vendors can leverage to gain a competitive advantage during the forecast period. The Value Chain information provides an end-to-end understanding of product insight and profit and also optimization and evaluation of business strategies. The players across the value chain include selective data and analysis from entire research findings as per the scope of the report.

Which are the Key Regions for the Bio-Based Resins Market?

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36% of the market’s growth will originate from APAC during the forecast period. China is the key market for bio-based resins in APAC. Market growth in this region will be faster than the market growth in other regions.

The strong demand for bio-based resins in APAC is from economies such as China and India, which are growing continuously, and the stable demand is from major consuming countries such as Japan and South Korea. China has emerged as the hub of the world for the production of low-value mass-produced goods, primarily because of low-cost manpower and generous government support. This will facilitate APAC's bio-based resins market growth over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

The bio-based resins market in the region was adversely affected by the second wave of the COVID-19 pandemic in the first half of 2021. Various countries in the region, such as China, India, Pakistan, and Bangladesh, reported a large number of COVID-19 cases in the first half of 2021. However, countries in the region started their vaccination drives in the first half of 2021, and the number of daily COVID-19 cases in the region has been decreasing since then. Therefore, countries are expected to lift restrictions due to a decrease in the number of COVID-19 cases. This is expected to increase the output of the manufacturing, construction, and packaging sectors by the end of 2021, which will drive the growth of the regional bio-based resins market during the forecast period. 

What is the Fastest-Growing Application Segments in the Bio-Based Resins Market?

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The bio-based resins market share growth by the packaging segment will be significant during the forecast period. The global bio-based resins market in packaging applications is expected to grow at a persistent pace during the forecast period due to widespread applications of bio-based resins in the packaging industry. Bio-based resins are used for the manufacturing of bottle caps, mineral water bottles, carbonated soft drink (CSD) bottles, and dairy packaging. Developing countries are leading the demand growth for CSDs because of the increase in population and per capita consumption of soft drinks. The robust demand for bio-based resins from the food processing and beverage industries is expected to drive their market growth during the forecast period. 

This report provides an accurate prediction of the contribution of all the segments to the growth of the bio-based resins market size and actionable market insights on the post-COVID-19 impact on each segment. 

 

Bio-Based Resins Market Scope
Report Coverage	Details
Page number	120
Base year	2020
Forecast period	2021-2025
Growth momentum & CAGR	Accelerate at a CAGR of 11.82%
Market growth 2021-2025	17.76 mn tons
Market structure	Fragmented
YoY growth (%)	11.21
Regional analysis	Europe, North America, APAC, South America, and MEA
Performing market contribution	APAC at 36%
Key countries	US, Germany, France, UK, and China
Competitive landscape	Leading companies, Competitive Strategies, Consumer engagement scope
Key companies profiled	Archer Daniels Midland Co., Arkema SA, Ashland Global Holdings Inc., BASF SE, Braskem SA, DuPont de Nemours Inc., Huntsman Corp., Koninklijke DSM NV, Novamont SpA, and Trinseo SA
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Bio-Based Resins Market Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive bio-based resins market growth during the next five years
• Precise estimation of the bio-based resins market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behaviour
• The growth of the bio-based resins market industry across Europe, North America, APAC, South America, and MEA
• A thorough analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive analysis of factors that will challenge the growth of bio-based resins market vendors

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