The global bio-based epoxy resins market expected to reach USD 117.0 million by 2027, according to a new study by Polaris Market Research. The 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” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The global bio-based epoxy resins industry is driven by strong government intent towards decreasing carbon footprint, abundant natural feedstock in the emerging nations, and innovations in the epoxy resin systems. Moreover, the growth outlook in various end-use industries also boosting the sales of bio-based epoxies.
The global bio-based epoxy resins industry is fragmented based on ingredient, application, and region. In terms of ingredient, the market for bio-based epoxy resins is segmented into vegetable, glycerol, canola, hemp, soya bean oil, plant oils, and others. The market segment is further divided into coatings, electronics, adhesives, food industry, composites, and others.
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Segment Highlights:
- The plant oils segment accounted for the largest revenue share of the global bio-based epoxy resins industry owing to its wide availability as a feedstock or raw material. However, the soyabean oil market segment is expected to expand at the fastest CAGR during the forecast period.
- Based on application, the electronics market segment is expected to account for a significant share in 2027. This can be attributed to the use of bio-based epoxy resins in several electronic components as they require high thermal conductivity, low cross-reactivity, and higher efficiency.
- North America’s bio-based epoxy resins industry accounted for the highest share in terms of market revenue in 2019. Key market factors responsible include forward product integration by ingredient and chemicals companies. Moreover, the expertise and technical know-how by the enterprises also favoring its market growth.
- The major bio-based epoxy resins industry players include Entropy Resins (acquired by Gougeon Brothers Inc.), Specific Polymers, Wessex Resins, and Stahl Holdings B.V. These companies together account for a significant market share.
List of Key Players
- 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
- Stahl Holdings B.V.
- Wessex Resins
- Others
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Polaris Market Research has segmented the bio-based epoxy resins market report on the basis of ingredient, application, and region:
Bio-based Epoxy Resins, Ingredient Outlook (Revenue – USD Million, 2016 – 2027)
- Vegetable
- Glycerol
- Canola
- Hemp
- Soyabean Oil
- Plant Oils
- Others
Bio-based Epoxy Resins, Application Outlook (Revenue – USD Million, 2016 – 2027)
- Coatings
- Electronics
- Adhesives
- Food Industry
- Composites
- Others
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