Reports and Data estimates the global Bio-Based Resins Market competitive landscape is highly fragmented with numerous players operating on a global and regional scale. The key companies in the market are engaged in mergers and acquisitions, joint ventures, collaborations, and product launches to gain a robust revenue growth over the forecast period. The report considers 2020-2021 as historic years, 2020 as the base year, and 2018-2027 as the forecast period. The report offers CAGR and market size for the global Bio-Based Resins Market during the forecast period.
The report also offers key insights about the top companies operating in the market and their market share and global position along with product portfolio and advancements. The top companies in the market include: Arkema SA, Archer Daniels Midland Co., Ineos Group Ltd, BASF SE, Braskem SA, DuPont, Huntsman International LLC, Metabolix, Cereokast, and Ecospan, among others.
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Product Type Outlook:
On the basis of product type, bio-based resins market can be broadly subdivided into biodegradable and non-biodegradable bio-based resins. The demand for the biodegradable variant is obviously higher as the end user industries such as packaging, automotive, construction, and others are seeking to include products that are more eco-friendly and thus more appealing to consumers who are increasingly demanding for more conscientious products.
End User Outlook:
With the rise focused on sustainability and favorable government regulations for green procurement policies, the worldwide bio-based resins market will experience significant opportunities, especially in the packaging and construction industries. Packaging applications are expected to experience a massive growth impetus with biodegradable mulch films, compostable waste bags, catering products, film packaging, and rigid packaging. The use of bio-based resins in bottling is propelling the worldwide demand for the product. In 2015 the bottling industry was estimated to be worth between USD 900-950 million. A marked increase in the consumption of beverages, both alcoholic and non-alcoholic, are providing huge opportunities within the packaging sector.
The growth in that the bio-based resins industry is expected to witness can be attributed to the rise in GDP per capita expected in developing countries during the forecast period. Another factor which will increase the consumption of beverages is increasing health awareness among consumers.The automotive sector is expected to witness a slightly arrested growth between 4% and 6% during the forecast period. The market is driven by the expansion in the production of passenger vehicles, especially hybrid commercial vehicles.
The focus on pollution control measures there would be an increase in the number of environmental regulations that are raising the demand for hybrid electric vehicles that are driven by a mixture of internal combustion engines and electric motors. In addition to the advantages, these vehicles are being aided by government agencies across the world as they reduce the consumption of conventional fossil fuels and do not cause noise and air pollution, thus making vehicles more energy-efficient. Manufacturers are therefore specializing in using bio-based resins as a mainstream product in their internal and external technical parts.
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Product Type (Revenue, USD Million; 2017-2027)
- Biodegradable
- Non-Biodegradable
End User (Revenue, USD Million; 2017-2027)
- Packaging
- Automotive
- Construction
- Other
Key Regional Markets Covered in the Report:
· North America (U.S.A., Canada, Mexico)
· Europe (Italy, U.K., Germany, France, Rest of Europe)
· Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
· Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
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Key Questions answered by the Report:
· What is the expected year-on-year growth of the Bio-Based Resins Market during the forecast period?
· What key trends are expected influence revenue growth of the market going ahead?
· Which region is expected to account for largest revenue share over the forecast period?
· Which key companies are profiled in the report?
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About Reports and Data
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