Natural (Bio-based) Resin Market by Type (Starch Blends, Polylactic Acid, Bio-Polyethylene Terephthalate, Polyhydroxyalkanoate, Bio-Polyethylene, Others), by Application (Packaging, Textiles, Automotive & Transportation, Consumer Goods, Agriculture, Others), by North America (U.S., Canada), by Europe (Germany, U.K., France, Italy, Rest of Europe), by Asia Pacific (China, Japan, India, South Korea, Rest of Asia Pacific), by Latin America (Brazil, Rest of Latin America), by Middle East & Africa (South Africa, Rest of the Middle East & Africa) Forecast 2024-2032
The Natural (Bio-based) Resin Marketsize was valued at USD 5.29 USD Billion in 2023 and is projected to reach USD 10.85 USD Billion by 2032, exhibiting a CAGR of 10.8 % during the forecast period.Bio resins are, partially or completely, based on monomers which are derived from biological sources. These resins have green appeal as they replace petrochemical based ingredients with plant-based alternatives. Use of bio-based raw materials in coatings is not a recent development. Natural resins are typically fusible and flammable organic substances that are transparent or translucent and are yellowish to brown in colour. They are formed in plant secretions and are soluble in various organic liquids but not in water. The growing use of natural (bio-based) resins in various packaging applications and their eco-friendly appeal are some of the major factors that will boost market growth. The growth of bio-based resins market is driven by the growing demand from industries, such as packaging, electronics, consumer goods, agriculture, etc.
The increasing demand for bio-based products due to environmental concerns is driving the growth of the natural (bio-based) resin market. Bio-based resins are made from renewable resources, such as plants and vegetable oils, and offer a more sustainable alternative to traditional petroleum-based resins.
Type:
Application:
Aspects | Details |
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Study Period | 2018-2032 |
Base Year | 2023 |
Estimated Year | 2024 |
Forecast Period | 2024-2032 |
Historical Period | 2018-2023 |
Growth Rate | CAGR of 10.8% from 2018-2032 |
Segmentation |
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Aspects | Details |
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Study Period | 2018-2032 |
Base Year | 2023 |
Estimated Year | 2024 |
Forecast Period | 2024-2032 |
Historical Period | 2018-2023 |
Growth Rate | CAGR of 10.8% from 2018-2032 |
Segmentation |
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Note* : In applicable scenarios
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