The Bio-Based Resins Market is being driven by Growing environmental concerns
The Bio-Based Resins Market is expected to grow at a CAGR of 14.4% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 6194.1 million. The global bio-based resins market is experiencing a noteworthy trend with companies introducing innovative new products to meet sustainability targets and minimize environmental impact. SABIC, a leading industry player, recently expanded its portfolio by launching bio-based versions of its NORYL, Flexible NORYL, NORYL GTX, and NORYL PPX resin grades in the US. These new offerings are derived from polyphenylene ether (PPE) feedstocks certified under the International Sustainability and Carbon Certification (ISCC) PLUS scheme. These bio-based resins deliver comparable performance to conventional fossil-based materials, thereby extending SABIC's range of eco-friendly NORYL resins.
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The market is segmented based on
According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows:
However, the market also witnesses some limitations, which are as follows:
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Market Scope |
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Report Coverage |
Details |
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Page number |
217 |
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Base year |
2024 |
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Historic period |
2019-2023 |
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Forecast period |
2025-2029 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 14.4% |
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Market growth 2025-2029 |
USD 6194.1 million |
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Market structure |
market_structure.ucfirst |
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YoY growth 2024-2025(%) |
13.0 |
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Key countries |
US, Germany, China, France, Japan, South Korea, Italy, UK, Brazil, and India |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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The Bio-Based Resins Market is experiencing significant growth due to the increasing demand for eco-friendly and sustainable materials in various industries. This includes green manufacturing practices, circular economy materials, and the use of renewable resources such as sugar cane, soybean, whey, lignocellulose, algae, potato, and natural fibers. Sustainable automotive design, renewable packaging, and biopolymer applications are key areas of focus. Plant-based plastics, biodegradable packaging, and compostable packaging are becoming increasingly popular. The future of the market lies in the utilization of renewable resources for materials research, including materials for construction, bioplastic packaging, injection molding, and eco-friendly vehicle components. The shift from oil-based production to sustainable product development is a major trend, with cost-effective case studies demonstrating the viability of these alternatives. Sustainability reports highlight the importance of renewable resource utilization in reducing carbon emissions and promoting a circular economy. Natural fibers, bio-based acrylics, composites for automotive, and aerodynamic materials are also gaining attention in the market industry.
The Bio-Based Resins Market is a significant segment of the global specialty chemicals industry, encompassing companies that produce high-value-added chemicals derived from renewable sources, such as algae, starch blends, and sugar beets. These bio-based resins find extensive applications in various industries, including automotive, packaging, and construction, where they are used to manufacture products like clamshells, buckets, vehicle parts, seat fillers, and more. According to Technavio's market analysis, the global specialty chemicals market, which includes the Bio-Based Resins Market, is expected to grow steadily due to the increasing demand for specialty adhesives and sealants derived from these renewable sources. This shift towards bio-based adhesives and sealants is driven by factors such as government regulations promoting sustainable manufacturing, growing environmental awareness, and the need for superior product performance.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
Technavio Research
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