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Bio-Based Resins - Global Strategic Business Report

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    Report

  • 286 Pages
  • October 2024
  • Region: Global
  • Global Industry Analysts, Inc
  • ID: 6018288
The global market for Bio-based Resins was estimated at US$5.6 Billion in 2023 and is projected to reach US$10.4 Billion by 2030, growing at a CAGR of 9.2% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.

Global Bio-Based Resins Market - Key Trends & Drivers Summarized

What Are Bio-Based Resins, and Why Are They Important for Sustainable Manufacturing?

Bio-based resins are a type of polymer derived from renewable biological sources such as plant starch, vegetable oils, and other agricultural products. Unlike traditional resins made from petroleum-based materials, bio-based resins offer a more environmentally friendly alternative, reducing dependence on fossil fuels and lowering the carbon footprint of the manufacturing processes. These resins are increasingly used across industries, including packaging, automotive, construction, and consumer goods, where sustainability is becoming a critical concern. Bio-based resins can be biodegradable or recyclable, making them highly attractive for companies looking to align their products with eco-friendly practices. As the global focus on reducing plastic waste and achieving circular economy goals intensifies, bio-based resins play an essential role in creating more sustainable products and packaging solutions.

How Are Technological Innovations Improving the Performance of Bio-Based Resins?

Technological advancements have significantly enhanced the properties and applications of bio-based resins, making them competitive with conventional petroleum-based plastics. Innovations in polymer science have led to the development of bio-based resins that offer improved mechanical strength, durability, and heat resistance, making them suitable for more demanding applications, such as in the automotive and electronics sectors. Additionally, new methods of synthesizing bio-based polymers, such as advanced fermentation processes and the use of genetically modified microorganisms, have made production more efficient and scalable. These innovations are enabling manufacturers to develop bio-based alternatives with performance characteristics that match or exceed traditional resins, broadening their adoption across various industries. Furthermore, blending bio-based resins with other materials has led to the creation of hybrid solutions that offer enhanced properties while maintaining the environmental benefits of renewable materials.

Why Are Regulatory and Consumer Trends Fueling Demand for Bio-Based Resins?

The increasing regulatory pressure to reduce plastic waste and lower carbon emissions is a major driver behind the growing demand for bio-based resins. Governments around the world are implementing stricter environmental regulations, such as bans on single-use plastics and mandates for higher recycling rates, which are pushing industries to adopt more sustainable materials. In Europe, for instance, the European Green Deal and other environmental policies are encouraging manufacturers to use bio-based alternatives in packaging and production. In addition, consumer preferences are shifting toward environmentally responsible products, leading to a surge in demand for bio-based and biodegradable materials. Brands are responding by integrating bio-based resins into their products and packaging to meet consumer expectations for sustainability. As awareness of the environmental impact of plastic waste grows, companies across sectors are increasingly opting for bio-based resins to enhance their eco-friendly credentials.

What Is Driving the Growth of the Global Bio-Based Resins Market?

The growth in the global bio-based resins market is driven by several factors, including advancements in bio-polymer technology, stringent environmental regulations, and rising consumer demand for sustainable products. One of the key drivers is the growing regulatory push for reducing plastic waste and promoting the use of renewable materials. Additionally, the increasing adoption of bio-based resins in industries such as packaging, automotive, and construction is boosting market demand as companies look to meet sustainability goals. Technological innovations are enabling the production of high-performance bio-based resins that can compete with conventional plastics in terms of durability and functionality, further accelerating market growth. Consumer demand for eco-friendly products, particularly in the packaging and consumer goods sectors, is also driving manufacturers to adopt bio-based alternatives. As industries increasingly prioritize sustainability and environmental responsibility, the market for bio-based resins is expected to expand significantly in the coming years.

Key Insights:

  • Market Growth: Understand the significant growth trajectory of the Biodegradable Resins segment, which is expected to reach US$7.0 Billion by 2030 with a CAGR of a 9.7%. The Non-Biodegradable Resins segment is also set to grow at 8.3% CAGR over the analysis period.
  • Regional Analysis: Gain insights into the U.S. market, which was estimated at $1.5 Billion in 2023, and China, forecasted to grow at an impressive 12.7% CAGR to reach $2.2 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.

Why You Should Buy This Report:

  • Detailed Market Analysis: Access a thorough analysis of the Global Bio-based Resins Market, covering all major geographic regions and market segments.
  • Competitive Insights: Get an overview of the competitive landscape, including the market presence of major players across different geographies.
  • Future Trends and Drivers: Understand the key trends and drivers shaping the future of the Global Bio-based Resins Market.
  • Actionable Insights: Benefit from actionable insights that can help you identify new revenue opportunities and make strategic business decisions.

Key Questions Answered:

  • How is the Global Bio-based Resins Market expected to evolve by 2030?
  • What are the main drivers and restraints affecting the market?
  • Which market segments will grow the most over the forecast period?
  • How will market shares for different regions and segments change by 2030?
  • Who are the leading players in the market, and what are their prospects?

Report Features:

  • Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
  • In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
  • Company Profiles: Coverage of major players in the Bio-Based Resins market such as Archer Daniels Midland Company, Arkema Group, Ashland, Inc., BASF SE, Braskem SA and more.
  • Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.

Some of the 43 companies featured in this Bio-Based Resins market report include:

  • Archer Daniels Midland Company
  • Arkema Group
  • Ashland, Inc.
  • BASF SE
  • Braskem SA
  • Danimer Scientific
  • DuPont de Nemours, Inc.
  • Gougeon Brothers, Inc.
  • Jiangmen Xinshuo New Materials Co., Ltd
  • Kukdo Chemical Co., Ltd.

Table of Contents

I. METHODOLOGYII. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
  • Influencer Market Insights
  • World Market Trajectories
  • Impact of COVID-19 and a Looming Global Recession
  • Bio-based Resins - Global Key Competitors Percentage Market Share in 2024 (E)
  • Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
  • Rising Global Demand for Sustainable Materials Throws Spotlight on the Growing Use of Bio-Based Resins in Various Industries
  • Increasing Environmental Regulations and Plastic Bans Spur Significant Growth in Bio-Based Resins for Packaging Solutions
  • Technological Advancements in Bio-Polymer Production Strengthen the Business Case for High-Performance Bio-Based Resins
  • Expansion of Circular Economy Initiatives Expands Addressable Market for Bio-Based Resins in Sustainable Manufacturing
  • Rising Consumer Preference for Eco-Friendly Products Drives Demand for Bio-Based Resins in Consumer Goods and Packaging
  • Increasing Adoption of Bio-Based Resins in Automotive Manufacturing Fuels Growth in Sustainable Material Use for Vehicle Components
  • Growing Awareness of the Environmental Impact of Petroleum-Based Plastics Propels Demand for Renewable Bio-Based Alternatives
  • Technological Innovations in Biodegradable Resins Generate Opportunities for Bio-Based Solutions in Single-Use Plastics
  • Rising Focus on Reducing Carbon Footprint Strengthens Market for Bio-Based Resins in the Construction and Building Industry
  • Expansion of Government Incentives and Policies Supporting Green Manufacturing Fuels Adoption of Bio-Based Resins
  • Growing Use of Bio-Based Resins in 3D Printing Expands Opportunities for Sustainable Additive Manufacturing
  • Increasing Adoption of Bio-Based Packaging by Major Brands Strengthens Market for Bio-Based Resins in Food and Beverage Industries
4. GLOBAL MARKET PERSPECTIVE
  • Table 1: World Bio-based Resins Market Analysis of Annual Sales in US$ Million for Years 2014 through 2030
  • Table 2: World Recent Past, Current & Future Analysis for Bio-based Resins by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
  • Table 3: World Historic Review for Bio-based Resins by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
  • Table 4: World 16-Year Perspective for Bio-based Resins by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets for Years 2014, 2024 & 2030
  • Table 5: World Recent Past, Current & Future Analysis for Biodegradable Resins by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
  • Table 6: World Historic Review for Biodegradable Resins by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
  • Table 7: World 16-Year Perspective for Biodegradable Resins by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2024 & 2030
  • Table 8: World Recent Past, Current & Future Analysis for Non-Biodegradable Resins by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
  • Table 9: World Historic Review for Non-Biodegradable Resins by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
  • Table 10: World 16-Year Perspective for Non-Biodegradable Resins by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2024 & 2030
  • Table 11: World Recent Past, Current & Future Analysis for Packaging End-Use by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
  • Table 12: World Historic Review for Packaging End-Use by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
  • Table 13: World 16-Year Perspective for Packaging End-Use by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2024 & 2030
  • Table 14: World Recent Past, Current & Future Analysis for Consumer Goods End-Use by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
  • Table 15: World Historic Review for Consumer Goods End-Use by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
  • Table 16: World 16-Year Perspective for Consumer Goods End-Use by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2024 & 2030
  • Table 17: World Recent Past, Current & Future Analysis for Textiles End-Use by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
  • Table 18: World Historic Review for Textiles End-Use by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
  • Table 19: World 16-Year Perspective for Textiles End-Use by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2024 & 2030
  • Table 20: World Recent Past, Current & Future Analysis for Agriculture End-Use by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
  • Table 21: World Historic Review for Agriculture End-Use by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
  • Table 22: World 16-Year Perspective for Agriculture End-Use by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2024 & 2030
  • Table 23: World Recent Past, Current & Future Analysis for Automotive & Transportation End-Use by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
  • Table 24: World Historic Review for Automotive & Transportation End-Use by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
  • Table 25: World 16-Year Perspective for Automotive & Transportation End-Use by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2024 & 2030
  • Table 26: World Recent Past, Current & Future Analysis for Other End-Uses by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
  • Table 27: World Historic Review for Other End-Uses by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
  • Table 28: World 16-Year Perspective for Other End-Uses by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2024 & 2030
III. MARKET ANALYSIS
UNITED STATES
  • Bio-based Resins Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2024 (E)
CANADA
JAPAN
  • Bio-based Resins Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Japan for 2024 (E)
CHINA
  • Bio-based Resins Market Presence - Strong/Active/Niche/Trivial - Key Competitors in China for 2024 (E)
EUROPE
  • Bio-based Resins Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2024 (E)
FRANCE
  • Bio-based Resins Market Presence - Strong/Active/Niche/Trivial - Key Competitors in France for 2024 (E)
GERMANY
  • Bio-based Resins Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Germany for 2024 (E)
ITALY
UNITED KINGDOM
  • Bio-based Resins Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United Kingdom for 2024 (E)
SPAINRUSSIAREST OF EUROPE
ASIA-PACIFIC
  • Bio-based Resins Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2024 (E)
AUSTRALIA
  • Bio-based Resins Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Australia for 2024 (E)
INDIA
  • Bio-based Resins Market Presence - Strong/Active/Niche/Trivial - Key Competitors in India for 2024 (E)
SOUTH KOREAREST OF ASIA-PACIFIC
LATIN AMERICA
  • Bio-based Resins Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Latin America for 2024 (E)
ARGENTINABRAZILMEXICOREST OF LATIN AMERICA
MIDDLE EAST
  • Bio-based Resins Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Middle East for 2024 (E)
IRANISRAELSAUDI ARABIAUNITED ARAB EMIRATESREST OF MIDDLE EAST
AFRICA
  • Bio-based Resins Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Africa for 2024 (E)
IV. COMPETITION

Companies Mentioned (Partial List)

A selection of companies mentioned in this report includes, but is not limited to:

  • Archer Daniels Midland Company
  • Arkema Group
  • Ashland, Inc.
  • BASF SE
  • Braskem SA
  • Danimer Scientific
  • DuPont de Nemours, Inc.
  • Gougeon Brothers, Inc.
  • Jiangmen Xinshuo New Materials Co., Ltd
  • Kukdo Chemical Co., Ltd.

Table Information