New York, NY, Oct. 09, 2023 (GLOBE NEWSWIRE) -- Polaris Market Research has published a new research report titled “Bio-based Epoxy Resins Market Share, Size, Trends, Industry Analysis Report, By Ingredient (Vegetable, Glycerol, Canola, Hemp, Soyabean Oil, Plant Oils, Others); By Application (Coatings, Electronics, Adhesives, Food Industry, Composites, Others); By Regions; Segment Forecast, 2020 - 2027” in its research database.
“As per the latest research analysis, the global bio-based epoxy resins market size/share revenue is projected to reach about USD 117.0 Million by 2027. The market is forecasted to expand at a compound annual growth rate of approximately 12.1% between 2020 and 2027.”
Bio-based Epoxy Resins Market: Report Overview
Epoxy, a polyepoxide petrochemical resin comprised of polymers, is an extensively used resin for several applications. The most contemporary generation of bio-based epoxy resins lowers the environmental influence of epoxies by restoring a part of petrochemicals with sustainable, bio-based substances. The rapidly rising demand for bio-based epoxy resins market can be attributed to the fact that it has extraordinary durability and aversion to abrasion, chemicals, and water damage.
The demand for bio-based epoxy resins is anticipated to evolve considerably because of their usage in highly advancing sectors such as electronics, paints & coatings, composites, and adhesives. The several approving characteristics displayed by them, such as no unpleasant smell, superlative to petroleum-dependent epoxy resins, low VOC, low odor, superlative robustness, and UV aversion to lucidity, minimal unsafe bi-products will additionally push the development of this market.
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(The sample of this report is readily available on request. The report sample contains a brief introduction to the research report, Table of Contents, Graphical introduction of regional analysis, Top players in the market with their revenue analysis, and our research methodology.)
Our Sample Report Covers:
- 2032 Updated Report Introduction, Overview, and In-depth industry analysis.
- 110+ Pages Research Report (Inclusion of Updated Research).
- Provide Chapter-wise guidance on Requests.
- 2023 Updated Regional Analysis with Graphical Representation of Size, Share & Trends
- Includes Updated List of tables & figures.
- Updated Report Includes Top Market Players with their Business Strategy, Sales Volume, and Revenue Analysis.
Some of the Top Market Leaders Are:
- Pond ApS
- Kukdo Chemical
- Bitrez Ltd
- Sicomin Epoxy Systems
- Huntsman Corporation
- Entropy Resins (acquired by Gougeon Brothers Inc.)
- ALPAS
- Chang Chun Group
- Nagase ChemteX Corporation
- LEUNAHarze GmbH
- Spolchemie
- Specific Polymers
- ATL Composites
- Stahl Holdings B.V.
- Change Climate
- Wessex Resins
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Prominent Growth Driving Factors
- Addressing environmental issues: Robust government retaliation covering the globe to carry carbon emissions and affirmative in regard to the environmental problems pushing the market demand. The bio-based epoxy resins market size is expanding as the eco-friendly identity, biodegradability, and rock-bottom production prices authorize manufacturers to concentrate on renewable resources as raw material, which involves starch and alternate plant oils.
- Concentration on green composites: Several end-use industries in the market, such as coatings, construction, adhesives, and electronics, robustly concentrate on green composites as a part of their corporate social responsibility as a promise to become a carbon-neutral firm. The bio-based epoxy resins market sales are soaring as interested companies execute endeavors to lessen the usage of toxic and environment-contaminating substances.
- Inventions in material science: Inventions in material science sanction contemporary preparations to improvise the mechanical attributes of these bio-degradable resins. Makers advance organically acquired epoxies from natural feedstock such as plants, canola, and soyabean oil. There is escalating usage of raw materials in the market, such as resin dependant, epoxidized rubber, and isosorbide dependants, to have contemporary formulations to enhance their attributes. Makers in the market are concentrating on inventive services such as mending, reprocessing power, and recyclability, pushing the demand for the market.
Top Findings of Report
- Makers in the market are concentrating on inventive services such as mending, reprocessing power, and recyclability, pushing the demand for the market.
- The bio-based epoxy resin market segmentation is primarily based on the basis of ingredients, application, and region.
- North America is expected to grow speedily during the forecast period.
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Top Trends Influencing the Market
- Government authorities: The compulsion on government authorities to remain carbon neutral in the market because of consumers' consciousness of plastic waste and following funding in the sector also performed an important role. For instance, Hexion Inc., an Ohio-based chemical company, was the sole in the global market to have Plante Research and Development Centre as a means to make bio-modified resins at the mercantile level.
- A wide range of curing mediums: Bio-based epoxy is derived organically in the market from plant and vegetable oils. These renewable resins are made through the exposition of the obtained oil, usually from tannins, glycerol, unsaturated vegetable oils, terpenes, hemp, lignin, saccharides, rosins, canola, and cardanols. A broad gamut of curing mediums is needed, also indicated as a hardener and needed in the making of epoxy resins in the market. Its choice relies on the application and usage type and could be bio-based, too.
Segmental Analysis
- The plant oil segment was viewed as having the biggest share of the market
Based on ingredients, the plant oil segment was viewed as having the biggest share of the market. The bio-based epoxy resins market demand is on the rise as the negative influence of fossil fuel as feedstock and invention in green chemistry are the noteworthy segment factors that accounted for its growth. Additionally, a surge in biorefineries worldwide is favoring its growth.
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Geographical Overview
- North America: The region held the largest bio-based epoxy resins market share due to concentration on green epoxy resin systems, reducing feedstock constraints from petrochemicals to renewable sources, albeit the latter being expensive. Notable players in the firm are exchanging their feedstock for organic plant-based oil seeds on account of environmental worries of petroleum-based commodities. The crucial elements pushing the acquisition of bio-based epoxy resins in the immediacy of detrimental chemicals in petroleum-dependent resins, reducing fossil fuels, and regulated endeavors of many nations to lessen its reliance on non-renewable energy sources and its relevancy to many end-use industries.
- Asia Pacific: This region is portraying a considerable surge due to its positive business framework, massive consumer base, and robust concentration of MNCs toward escalating their market share.
Browse the Detail Report “Bio-based Epoxy Resins Market Share, Size, Trends, Industry Analysis Report, By Ingredient (Vegetable, Glycerol, Canola, Hemp, Soyabean Oil, Plant Oils, Others); By Application (Coatings, Electronics, Adhesives, Food Industry, Composites, Others); By Regions; Segment Forecast, 2020 - 2027” with in-depth TOC: https://www.polarismarketresearch.com/industry-analysis/bio-based-epoxy-resins-market
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Polaris Market Research has segmented the bio-based epoxy resins market report on the basis of ingredient, application, and region:
By Ingredient Outlook
- Vegetable
- Glycerol
- Canola
- Hemp
- Soyabean Oil
- Plant Oils
- Others
By Application Outlook
- Coatings
- Electronics
- Adhesives
- Food Industry
- Composites
- Others
By Region Outlook
- North America (U.S., Canada)
- Europe (France, Germany, UK, Italy, Spain, Netherlands, Austria)
- Asia Pacific (Japan, China, India, Malaysia, Indonesia, South Korea)
- Latin America (Brazil, Mexico, Argentina)
- Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)
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