Global Bio-based Epoxy Resins Market Size Estimated to Reach USD 117.0 Million by 2027, at 12.1% CAGR: Polaris Market Research

NEW YORK, May 10, 2022 /PRNewswire/ -- Polaris Market Research recently published a research report on "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.

According to recent research study published by Polaris Market Research, the global bio-based epoxy resins market size and share is expected to register a CAGR of 12.1% growth and industry revenue is expected to increase from USD 47.4 million in 2019 to reach USD 117.0 million by 2027.

What is Bio-based Epoxy Resin? How Big is Bio-based Epoxy Resins Market?

• Overview

Epoxy Resin is a class of reactive prepolymers and polymers that includes epoxide groups. Bio-based epoxy resins are made from plant-based carbon instead of petroleum-based carbon. These renewable resins are used in a wide variety of applications. They are usually used in adhesives, coatings, casting plastic, mechanical, chemical, electrical, aerospace, automotive, building, and other industrial sectors. Epoxy resin is known as one of the most supreme types of resin.

Epoxy resins contain a different variety of crosslinking polymers, such as unsaturated polyester resins, phenol-formaldehyde resins, and amino resins. Bio-based epoxy resins consume less energy and generate less hazardous bi-products, thus minimizing greenhouse gas emissions during the manufacturing of resins. These resins are produced by epoxidation of the renewable antecedent such as procured oil, generally from tannins, glycerol, unsaturated vegetable oils, terpenes, hemp, lignin, saccharides, rosins, canola, and cardanols.

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Major Attributes of the Market Report:

• Comprehensive understanding of the global bio-based epoxy resins market with respect to driver, restraints, opportunities, feasibility study
• Graphical representation of size, share, trends, and regional analysis
• Geographical outlook of market study based on major regions
• Evaluation of industry growth factors along with the detailed study of present market segments
• Potential and niche segments/regions exhibiting promising growth.
• Determinants such as technological development, opportunities, and constraints to the growth of the global bio-based epoxy resins market are included in this report.
• The report also proposes an analysis of the global bio-based epoxy resins industry distribution chain, further advancing on aspects such as important distributors and the customer pool.

Some of the Top Manufacturers in Bio-based Epoxy Resins Market 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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Bio-Based Epoxy Resins Market: Growth Drivers

Bio-based epoxy resins have several properties such as less power consumption, chemical resistance, and thermo-mechanical properties that make them more popular than other epoxy resins present in the market. Other characteristics include no nasty smell, relatively superior to petroleum-based epoxy resins, low VOC, low odor, superior strength, and UV resistance transparency. These favorable properties are expected to increase the demand for bio-based epoxy resins thus propelling during the forecast period.

Also, strengthening government guidelines over reducing carbon footprint, abundant natural feedstock in the emerging nations, developments in the epoxy resin systems are further fueling the sales of bio-based epoxy resins. Developments in the electronic, paints & coatings industry, as well as the rising use of composites and adhesives in different applications, is anticipated to boost the demand for bio-based epoxy resin. This is also expected to encourage bio-based epoxy resin manufacturers to enhance their production capacity over the projected period.  

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Bio-Based Epoxy Resins Market: Report Scope

Bio-Based Epoxy Resins Market: Report Segmentation

• Insight by Ingredient

By ingredient, the global market is segmented into vegetable, glycerol, canola, hemp, soya bean oil, plant oils, and others. The plant oils segment held the largest market share in the market in 2019. This growth of the ingredient segment can be attributed to the fossil fuel's negative effects and developments in green chemistry. A growth in bio-refineries around the globe is further boosting the market growth. Soyabean oil as a feedstock is expected to positively favor the market growth during the forecast period owing to its growing production in the emerging economies. In addition, the increasing development of such resin systems by several players in the market is likely to increase its expansion during the upcoming years.

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Geographic Overview: Bio-Based Epoxy Resins Market

By geography, the bio-based epoxy resin market is categorized into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. North America and Europe are taking initiatives towards green epoxy resin systems and reducing feedstock pressure from petrochemicals. Manufacturers are replacing their feedstock with natural plant-based oilseeds due to the growing environmental awareness about petroleum-based products. Various chemicals companies in the North American bio-based epoxy resins industry are substituting feedstock from fossil fuels with naturally derived plant and vegetable oils.  Moreover, the APAC region is showing a substantial rise in the market due to its positive business scenario, massive consumer base, and the strong focus of international firms on growing their bio-based epoxy resin 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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Bio-Based Epoxy Resins Market: By Ingredient Outlook

• Vegetable
• Glycerol
• Canola
• Hemp
• Soyabean Oil
• Plant Oils
• Others

Bio-Based Epoxy Resins Market: By Application Outlook

• Coatings
• Electronics
• Adhesives
• Food Industry
• Composites
• Others

Key Questions Answered:

• What are global bio-based epoxy resins market dynamics? What are the challenges and opportunities?
• What is the current market status?
• What's a market analysis by taking applications and types into consideration?
• What's the market competition in this industry, both company, and country-wise?
• Who are the global key players in this global bio-based epoxy resins industry?
• What is market chain analysis by upstream raw materials and downstream industry?

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About Polaris Market Research

Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for PMR's clientele spread across different enterprises. We at Polaris are obliged to serve PMR's diverse customer base present across the industries of healthcare, technology, semi-conductors and chemicals among various other industries present around the world. We strive to provide PMR's customers with updated information on innovative technologies, high growth markets, emerging business environments and latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced and extremely qualified team of experts comprising SMEs, analysts and consultants, we at  Polaris endeavor to deliver value-added business solutions to PMR's customers.

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SOURCE Polaris Market Research