Dublin, June 20, 2019 (GLOBE NEWSWIRE) -- The "Bio-based Resins Market - Growth, Trends, and Forecast (2019-2024)" report has been added to ResearchAndMarkets.com's offering.

The bio-based resins market is expected to grow at a CAGR of around 16.38% during the forecast period of 2019-2024.

The major factors driving the growth of market studied are the increasing demand for packaging sector from eco-friendly products, and government regulations on synthetic resins. On the flipside, the need for change in cost structure is one of the major stumbling blocks in growth of the studied market.

Key Highlights

• Packaging segment dominated the market in 2018 and is likely to grow during the forecast period, owing to the growing environment concerns related to the disposal of packaging materials, and need for eco-friendly packaging.
• The availability of cheaper alternatives is likely to provide opportunities for the studied market during the forecast period.
• Europe dominated the market across the globe, with the growing stringent regulations related to the petroleum-based resins.

Major Market Trends

Flexible Packaging Segment to Dominate Market Demand

• Bioplastics made from bio-based resins provide the packaging industry, with a renewable sustainable option for a variety of uses. Within packaging, rigid packaging accounts for the larger share of the market.
• This is because it is used in a large variety of products, including bottles, jars, canisters, cups, buckets, containers, trays, and clamshells.
• A majority of bio-based rigid packaging products are made of bio-based non-biodegradable PE and PET. Additionally, PLA, PBS and PHA plastics can also offer an add-on functionality of biodegradability to rigid packaging applications.
• For instance, bio-PLA's application in flexible packaging offer properties, such as high clarity, stiffness, and excellent printability. These properties make it highly suitable for applications in flexible packaging films made from bio-PLA resin.
• The growing food & beverage companies, and innovation in packaging industry, has been driving the growth of flexible packaging market, owing to light weight, comparatively lower cost than rigid packaging, and ease in changing the packaging sizes.
• Regions, such as North America and Europe has stringent regulations which regulates the packaging industry, in order to avoid use of harmful materials in packaging. Owing to this, the use of bio-based materials have been increasing in the packaging industry in these regions.
• Besides in Asia-Pacific region, flexible packaging industry has been witnessing strong growth due to the robust growth of e-retail, growing manufacturing sector, and increased adoption of flexible packaging due to its lightweight.
• In addition, Asia-Pacific has been facing severe issues related to the disposal of petroleum-based non-biodegradable packaging materials, which is further leading to shift towards eco-friendly raw materials, such as bio-based resins for application in packaging industry.
• Hence, all such factors are likely to drive the growth of bio-based resins demand from the flexible packaging market during the forecast period.

Europe to Dominate the Global Market

• Europe region dominated the global market share in 2018. The growth of bio-based resins market is expected to be driven by the growing demand from industries, such as packaging, electronics, consumer goods, agriculture, etc.
• Germany is expected to lead the market demand for bio-based resins owing to the growing application and demand from various end-user industries.
• The packaging industry in Germany has been growing at a rapid pace, owing to the huge increases in domestic e-commerce and rising foreign exports. In addition, the increasing preference for packaged food and beverages has also led to the growth of the packaging industry. Hence, the positive development in the packaging industry is expected to contribute to the demand for bio-based resins market.
• The German electronic industry is Europe's biggest of its kind, and the fifth-largest, worldwide. The electrical and electronics industry accounted for about 11% of the total German industrial production. Besides, electronic production is also expected to increase in countries such as United Kingdom, France, and Italy, which is likely to add to the demand for bio-based resins market.
• Bio-based resins also find application in construction industry in the region. However, the usage is very less as compared to other industries, but it is expected to gain momentum gradually. In countries, such as Germany, United Kingdom, and Spain, the construction sector has been witnessing growth due to rising residential construction and government spending on infrastructure development, which is further expected to drive the demand for bio-based resins market in the coming years in the region.
• Hence, all such market trends are expected to drive the demand for bio-based resins market in the region during the forecast period.

Competitive Landscape

The bio-based resins market is a fragmented market, where numerous players hold an insignificant share of the market to affect the market dynamics individually. Some of the noticeable players in the market include Ashland Performance Materials, BASF SE, Braskem, Arkema, and DowDuPont, amongst others.

Topics Covered

1 INTRODUCTION

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS
4.1 Drivers
4.1.1 Environmental Factors Encouraging a Paradigm Shift
4.1.2 Growing Demand for Bioplastics in Flexible Packaging
4.2 Restraints
4.2.1 Lack of Awareness & High Cost Association
4.2.2 Availability of Cheaper Alternatives
4.3 Industry Value-Chain Analysis
4.4 Porters 5 Force Analysis
4.5 Patent Analysis

5 MARKET SEGMENTATION
5.1 Type
5.1.1 Biodegradable Starch Blends
5.1.2 Polylactic Acid (PLA)
5.1.3 Bio-Polyethylene Terephthalate (Bio-PET)
5.1.4 Polyhydroxyalkanoate (PHA)
5.1.5 Bio-Polyethylene (Bio-PE)
5.1.6 Biodegradable Polyesters
5.1.7 Other Types
5.2 Application
5.2.1 Packaging - Rigid
5.2.2 Packaging - Flexible
5.2.3 Textiles
5.2.4 Consumer Goods
5.2.5 Automotive & Transportation
5.2.6 Agriculture & Horticulture
5.2.7 Building & Construction
5.2.8 Electrical & Electronics
5.2.9 Other Applications (Medical)
5.3 Geography
5.3.1 Asia-Pacific
5.3.2 North America
5.3.3 Europe
5.3.4 South America
5.3.5 Middle East & Africa

6 COMPETITIVE LANDSCAPE
6.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 Arkema S.A.
6.4.2 BASF SE
6.4.3 Biotec
6.4.4 Braskem
6.4.5 Corbion
6.4.6 Danimer Scientific
6.4.7 DowDuPont
6.4.8 Futerro
6.4.9 Minima
6.4.10 Natureworks LLC
6.4.11 Novamont S.p.A.
6.4.12 Trinseo
6.4.13 Yield10 Bioscience Inc.

7 MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Increasing Awareness of Sugarcane Polythene Benefits in Comparison to Oil-based Polythene
7.2 Government Regulations on Petroleum Resin Products

For more information about this report visit https://www.researchandmarkets.com/r/c398r9

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