Bio-Based Resins Market to Grow by USD 6.19 Billion from 2025-2029, Rising Environmental Concerns Boosting Revenue, AI Redefining Market Landscape - Technavio

NEW YORK, Feb. 10, 2025 /PRNewswire/ -- Report with market evolution powered by AI - The global bio-based resins market  size is estimated to grow by USD 6.19 billion  from 2025-2029, according to Technavio. The market is estimated to grow at a CAGR of  14.4%  during the forecast period.  Growing environmental concerns is driving market growth, with a trend towards introduction of new products. However, cost-effectiveness of conventional resins  poses a challenge. Key market players include Archer Daniels Midland Co., Arkema, Ashland Inc., BASF SE, Biotec GmbH Co. And KG, Braskem SA, Corbion nv, Covestro AG, Danimer Scientific Inc., DuPont de Nemours Inc., Exel Composites, Futerro SA, Huntsman Corp., Lamberti SpA, Minima Technology Co. Ltd., NatureWorks LLC, Nexeo Plastics LLC, Novamont S.p.A., Saudi Basic Industries Corp., Trinseo PLC, and Yield10 Bioscience Inc..

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Key Market Trends Fueling Growth

The Bio-Based Resins Market is experiencing significant growth due to increasing consumer awareness and government regulations towards sustainable practices. Key trends include the use of renewable plant materials such as corn, sugar beet, soybeans, and lignocellulose in the production of polymers and biodegradables. Clamshells, buckets, trays, and vehicle parts are being replaced with bio-derived components like starch blends and polylactic acid. High-performance composites made from bio-based feedstocks are gaining popularity in the automotive industry for their durability and thermal stability. Soybean-based formulations are also being used in eco-friendly materials for jars, bottles, and cups. Technological advancements in biotechnology and subsidies for renewable resources are driving the market forward. The use of bio-based feedstocks reduces environmental impact, ecological footprints, and carbon emissions, making them a sustainable solution to traditional petroleum-based resins. Government regulations and tax incentives further support the shift towards bio-based resins, making them a cost-effective and performance-driven alternative to conventional materials. 

The bio-based resins market is experiencing notable growth due to the increasing demand for eco-friendly alternatives to traditional fossil-based materials. Companies are responding by introducing new bio-based resin offerings to meet sustainability targets and minimize environmental impact. For instance, on August 17, 2023, SABIC unveiled bio-based versions of its NORYL, Flexible NORYL, NORYL GTX, and NORYL PPX resin grades in the US. These new resins are derived from polyphenylene ether (PPE) feedstocks certified under the International Sustainability and Carbon Certification (ISCC) PLUS. The bio-based NORYL resins offer comparable performance to conventional grades, thereby expanding SABIC's portfolio of environmentally responsible options. 

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Market Challenges

• The Bio-Based Resins Market is experiencing significant growth due to increasing consumer awareness and government regulations towards sustainable practices. Companies are focusing on developing eco-friendly materials, such as those derived from renewable plant materials like corn, sugar beet, soybeans, and lignocellulose. However, challenges persist in the form of high production costs and performance issues with bio-derived components like polylactic acid and starch blends. Clamshells, buckets, vehicle parts, seat fillers, and composites are some applications where bio-based resins are being used. However, achieving the desired mechanical properties and thermal stability remains a challenge. The use of bio-polyethylene terephthalate and biodegradables in bottles and jars is gaining popularity due to their environmental sustainability and fuel efficiency. Subsidies and tax incentives are driving the adoption of bio-based feedstocks, but the environmental impact of these processes must be considered. Technological advancements in biotechnology and the development of high-performance composites are expected to address some of these challenges. The use of bio-based resins in eco-friendly materials is reducing carbon emissions and ecological footprints, making it a sustainable solution for the future.
• The bio-based resins market faces a significant challenge with the higher cost of bio-based resins compared to conventional resins. This price difference is primarily due to the lack of advanced technology and limited availability of feedstock for bio-based materials production. Corn, a common renewable raw material in bioplastics, sees rising prices, which in turn increases the cost of producing bio-based resins. These factors make bio-based resins several times more expensive than their conventional counterparts. The cost of renewable raw materials is a major concern for market players, as it directly impacts the production costs of bio-based resins.

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Segment Overview 

This bio-based resins market report extensively covers market segmentation by

• Type
• Non-biodegradable
• Biodegradable
• Application
• Consumer Goods
• Automotive
• Packaging
• Others
• Geography
• Europe
• APAC
• North America
• South America
• Middle East And Africa

1.1 Non-biodegradable-  The bio-based resins market encompasses a substantial segment dedicated to non-biodegradable resins. These resins, sourced from renewable materials, deliver the same performance characteristics as conventional resins without biodegrading. Suitable for applications demanding long-term durability and high strength, bio-based PE and PP are prominent examples. Bio-based PE, widely used in packaging, agriculture, and consumer goods, offers reduced environmental impact compared to traditional PE. In the automotive, construction, and coatings sectors, bio-based PU is prevalent. Notable innovations include Braskem America's WENEW bio-circular PP, launched in September 2024, derived from used cooking oil, and Lubrizol's Pearlbond ECO 590 HMS TPU, introduced in February 2022, containing up to 59% bio-content. These high-performing, eco-friendly alternatives to traditional resins maintain the same properties and performance while reducing carbon footprints. The ongoing commitment to sustainability and development of eco-friendly materials underscores the significance of non-biodegradable bio-based resins in various industries.

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Research Analysis

The Bio-Based Resins Market is a rapidly growing industry focused on producing eco-friendly and sustainable materials through green manufacturing processes. These resins are derived from renewable resources such as sugar cane, soybean, whey, lignocellulose, algae, and various plant-based sources. The use of circular economy materials in this sector is gaining popularity due to the importance of sustainable materials in reducing carbon footprints and minimizing waste. The market for bio-based resins is expanding in various sectors including automotive design, where lightweight and renewable materials are being used to create eco-friendly vehicle components. In the packaging industry, biodegradable and compostable packaging made from biopolymers are replacing oil-based plastics. Materials research and development are key drivers in this market, with innovations in potato-based plastics, natural fibers, and bio-based acrylics. The future of the bio-based resins market is bright, with a focus on sustainable product development and renewable resource utilization. Case studies show significant cost savings and environmental benefits compared to traditional oil-based resins production. The industry's sustainability reports highlight the importance of this sector in reducing greenhouse gas emissions and promoting a circular economy.

Market Research Overview

The Bio-Based Resins Market refers to the production and utilization of resins derived from renewable plant materials, such as clamshells, algae, and sugar beet, instead of fossil fuels. These resins are used in various applications, including the production of biodegradable plastics, composites for vehicle parts and seat fillers, and high-performance composites for body panels. Feedstocks for bio-based resins include starch blends, lignocellulose, corn, potatoes, and soybean. The market is driven by sustainability and environmental concerns, as well as government regulations and consumer awareness. Bio-based resins offer improved fuel efficiency, eco-friendly materials, and reduced carbon emissions. Technological advancements in biotechnology and the availability of renewable resources, such as sugarcane and lignocellulose, are also contributing to the growth of the market. However, the market faces challenges such as subsidies for traditional plastics and the high cost of production compared to fossil fuel-based resins. The use of bio-based resins in packaging applications, such as bottles, jars, and trays, is also increasing due to their environmental sustainability and reduced ecological footprints. The market is expected to continue growing as more companies adopt sustainable practices and invest in bio-derived components for their products.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Type
• Non-biodegradable
• Biodegradable
• Application
• Consumer Goods
• Automotive
• Packaging
• Others
• Geography
• Europe
• APAC
• North America
• South America
• Middle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Infiniti Research, Inc.