Global Bio-Based Epoxy Resins Market is estimated to witness a major leap forward in its revenue from US$ 170.2 Mn in 2021 to US$ 220.1 Mn by 2027. The market is registering a CAGR of 4.4% during the forecast period 2022-2027. In terms of volume, the market was valued at 24,898.1 tons in 2021 and is projected to grow at a CAGR of 4.1% over the forecast period.
Bio-based epoxies are a relatively new class of bio-sourced resins that are produced by epoxidation of renewable precursors such as unsaturated vegetable oils, saccharides, tannins, cardinals, terpenes, resins, and lignin. The major end-user industries for epoxy resins include electronics and paints & coatings followed by adhesives, composites, laminates, and others. Currently, petrochemicals are used to make 75% of epoxy polymers in the globe. However, it is made from a reprotoxic chemical that is being closely monitored and whose usage in certain applications may be banned in the future. As a result, bio-sourced epoxy polymers could serve as a substitute for renewable and non-harmful epoxy polymers.
The market is majorly driven by factors such as government regulations to curb carbon emissions and increased application use of bio-based epoxy resins. The newest generations of biobased epoxy resins reduce the environmental impact of epoxies by replacing a portion of the petrochemicals with renewable, biobased materials. Epoxy resins are one of the most widely used thermosets in different engineering fields, due to their chemical resistance and thermo-mechanical properties.
Recently, bio-based thermoset resin systems have attracted significant attention given their environmental benefits related to the wide variety of available natural resources, as well as the resulting reduction in the use of petroleum feedstock. Furthermore, epoxy composites are of potential interest for the aerospace and transportation industries as a lightweight material that can improve fuel efficiency and add impact strength. However, the fluctuating cost of raw materials restricts the market growth.
Key Insights of the Report:
Key Takeaways from the Global Bio-Based Epoxy Resins Market Report
Competitive Landscape
The key players in the Global Bio-Based Epoxy Resins Market are Chang Chun Group, Entropy Resins, Greenpoxy, Sicomin Epoxy Systems, Amroy Europe Oy, and Wessex Resins & Adhesives Ltd among others. Through extensive research, it is found that big players have adopted various competitive strategies such as mergers & acquisitions in order to have a grip in the stabilized market scenarios. Furthermore, leading companies are expanding their geographical boundaries by acquiring small brands and domestic companies.
Segmentation Overview
The following are the different segments of the Global Bio-Based Epoxy Resins Market:
By Type Segment of the Global Bio-Based Epoxy Resins Market is sub-segmented into:
By Ingredient Segment of the Global Bio-Based Epoxy Resins Market is sub-segmented into:
By Form Segment of the Global Bio-Based Epoxy Resins Market is sub-segmented into:
By Application segment of the Global Bio-Based Epoxy Resins Market is sub-segmented into:
By End-Use Segment of the Global Bio-Based Epoxy Resins Market is sub-segmented into:
By Region Segment of the Global Bio-Based Epoxy Resins Market is sub-segmented into:
Report Attribute | Details |
---|---|
Market Size Value in 2021 | US$ 170.2 Mn |
Expected Revenue in 2027 | US$ 220.1 Mn |
Historic Data | 2017-2020 |
Base Year | 2021 |
Forecast Period | 2022-2027 |
Unit | Value (USD Mn) |
CAGR | 4.4% |
Segments covered | By Type, Ingredient, Form, Application, End-Use, and Region |
Key Companies | Chang Chun Group, Entropy Resins, Greenpoxy, Sicomin Epoxy Systems, and other prominent players. |
Customization Scope | Get your customized report as per your preference. Ask for customization |
Bio-based epoxies are produced by epoxidation of renewable precursors such as unsaturated vegetable oils, saccharides, tannins, cardinals, terpenes, resins, and lignin.
The major end-user industry for epoxy resins includes electronics and paints & coatings followed by adhesives, composites, laminates and others.
Global Bio-Based Epoxy Market was valued at US$ 170.2 Mn in 2021.
Global Bio-Based Epoxy Market is estimated to expand at a CAGR of 4.4% during the forecast period.
Global Bio-Based Epoxy Market is segmented based on type, form, ingredients, application, end users, and region.
The market is majorly driven by factors such as government regulations to curb carbon emissions and increased application use of bio-based epoxy resins.
The fluctuating cost of raw materials restricts the market growth of bio-based epoxy resins.
Liquid and solution form bio-based epoxy resins dominates the market in 2021.
Plant Oils are majorly used in the production of bio-based epoxy resins.
Diglycidyl ethers of isosorbide (DGEI) is the highest application segment of the Global Bio-Based Epoxy Market.
Consumer goods industry is the highest end user of bio-based epoxy resins.
The key players in the global bio-based epoxy resins market are Chang Chun Group, Entropy Resins, Greenpoxy, Sicomin Epoxy Systems, Amroy Europe Oy, and Wessex Resins & Adhesives Ltd. among others.