Natural (Bio-based) Resin Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Description
Natural (Bio-based) Resin Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of Natural Resin Market
The natural resin market size was valued at USD 5.29 billion in 2023, and the market is now projected to grow from USD 5.82 billion in 2024 to USD 11.95 billion by 2032, exhibiting a CAGR of 10.8% during the forecast period of 2024-2032.
Unsurprisingly, the COVID-19 pandemic has spread its devastating effects to many parts of the world and various industries, including that of natural resin. Nonetheless, the Covid pandemic resulted in divergent effects on the end-use industries based on natural (bio-based) resins due to differences in the degree of the implementation of the lockdown measures across the world. The use of synthetic products had negative effects on the natural resin market growth.
Bio-based resins bioplastic products offer an avenue towards providing sustainable packaging across many uses. Their usage is also widespread across various flexible and non-flexible packaging types like bottles, canisters, jars, cups, containers, buckets, trays, and clamshells. This may also lead to an increased natural resin market share in the envisioned market as well.
The advancements of electric vehicles are the best evidence that the automotive industry has shifted its goals towards sustainable solutions. Cars are being designed with lighter body structures and better aerodynamics for the car body and tires while adopting better ways of sourcing raw materials for constructing the cars in a bid to minimize fuel consumption, and hence emissions and pollution.
Comprehensive Analysis of Natural Resin Market
The natural resin market is rising at an exponential rate due to its market segmentation. This market expansion effectively provides a detailed regional assessment considering the dominant supply and demand forces that impact the industry. These segmentations are methodically segregated by type, & by applications. The types include: starch blends, polylactic acid, bio-polyethylene terephthalate, polyhydroxyalkanoate, bio-polyethylene, and others. By applications the market can be divided into: packaging, textiles, automotive, consumer goods, agriculture, and others.
The Europe region leads the natural resin market by benefitting a market size of USD 2.43 billion in 2023 due to the increasing demand for sustainable and biobased packaging material in the region.
The top players in the market play a crucial role in the industry, assuring industrial prospectus growth and setting market standards. These players include: SABIC (U.K.) BASF (Germany) Braskem (Brazil) Arkema (France) Ashland Performance Materials (U.S.) Danimer Scientific (U.S.) Minima (Taiwan) NatureWorks LLC (U.S.) Avantium (Netherlands)
In March 2023, Avantium, a Netherlands-based Technology provider, and Kvadrat sign an offtake contract for the expansion of PEF for interior textiles application. Kvadrat decided to purchase the fully recyclable and 100% plant-based polymer PEF.
Segmentation Table
Global Natural Resin Market Scope
Study Period 2019-2032
Base Year 2023
Forecast Period 2024-2032
Growth Rate CAGR of 10.8% from 2024-2032
Historical Period 2019-2022
Unit Value (USD Billion)
Segmentation By Type, and By Application
By Type Starch Blends
Polylactic Acid (PLA)
Bio-Polyethylene Terephthalate (Bio-PET)
Polyhydroxyalkanoate (PHA)
Bio-Polyethylene (Bio-PE)
Others
By Applications Packaging
Textiles
Automotive & Transportation
Consumer Goods
Agriculture & Horticulture
Others
By Region North America (By Type, Application, and Country)
- U.S.
- Canada
Europe (By Type, Application, and Country)
- U.K.
- Germany
- France
- Italy
- Rest of Europe
Asia Pacific (By Type, Application, and Country)
- China
- Japan
- India
- South Korea
- Rest of Asia Pacific
South America (By Type, Application, and Country)
- Brazil
- Rest of South America
Middle East & Africa (By Type, Application, and Country)
- South Africa
- Rest of Middle East, & Africa
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Table of Contents
132 Pages
- 1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
- 2. Executive Summary
- 3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
- 4. Key Insights
- 4.1. Key Market Trends in the Global Market
- 4.2. Key Developments: Mergers, Acquisition, Partnership, etc.
- 4.3. Latest Technological Advancement
- 4.4. Insights on Regulatory Scenario
- 4.5. Porters Five Forces Analysis
- 5. Qualitative Insights on Impact of COVID-19 on Global Natural (Bio-based) Resin Market
- 5.1. Supply Chain Analysis & Challenges due to Covid-19
- 5.2. Steps taken by Government / Companies to Overcome this Impact
- 5.3. Potential Challenges and Opportunities due to COVID-19 Outbreak
- 6. Global Natural (Bio-based) Resin Market Analysis, Insights and Forecast, 2019-2030
- 6.1. Key Findings / Summary
- 6.2. By Type (Value)
- 6.2.1. Starch Blends
- 6.2.2. Polylactic Acid (PLA)
- 6.2.3. Bio-Polyethylene Terephthalate (Bio-PET)
- 6.2.4. Polyhydroxyalkanoate (PHA)
- 6.2.5. Bio-Polyethylene (Bio-PE)
- 6.2.6. Others
- 6.3. By Application (Value)
- 6.3.1. Packaging
- 6.3.2. Textiles
- 6.3.3. Automotive & Transportation
- 6.3.4. Consumer goods
- 6.3.5. Agriculture
- 6.3.6. Others
- 6.4. By Region (Value)
- 6.4.1. North America
- 6.4.2. Europe
- 6.4.3. Asia Pacific
- 6.4.4. Latin America
- 6.4.5. Middle East & Africa
- 7. North America Natural (Bio-based) Resin Market Analysis, Insights and Forecast, 2019-2030
- 7.1. Key Findings / Summary
- 7.2. By Type (Value)
- 7.2.1. Starch Blends
- 7.2.2. Polylactic Acid (PLA)
- 7.2.3. Bio-Polyethylene Terephthalate (Bio-PET)
- 7.2.4. Polyhydroxyalkanoate (PHA)
- 7.2.5. Bio-Polyethylene (Bio-PE)
- 7.2.6. Others
- 7.3. By Application (Value)
- 7.3.1. Packaging
- 7.3.2. Textiles
- 7.3.3. Automotive & Transportation
- 7.3.4. Consumer goods
- 7.3.5. Agriculture
- 7.3.6. Others
- 7.4. Country (Value)
- 7.4.1. U.S
- 7.4.2. Canada
- 8. Europe Natural (Bio-based) Resin Market Analysis, Insights and Forecast, 2019-2030
- 8.1. Key Findings / Summary
- 8.2. By Type (Value)
- 8.2.1. Starch Blends
- 8.2.2. Polylactic Acid (PLA)
- 8.2.3. Bio-Polyethylene Terephthalate (Bio-PET)
- 8.2.4. Polyhydroxyalkanoate (PHA)
- 8.2.5. Bio-Polyethylene (Bio-PE)
- 8.2.6. Others
- 8.3. By Application (Value)
- 8.3.1. Packaging
- 8.3.2. Textiles
- 8.3.3. Automotive & Transportation
- 8.3.4. Consumer goods
- 8.3.5. Agriculture
- 8.3.6. Others
- 8.4. By Country (Value)
- 8.4.1. Germany
- 8.4.2. U.K.
- 8.4.3. France
- 8.4.4. Italy
- 8.4.5. Rest of Europe
- 9. Asia-Pacific Natural (Bio-based) Resin Market Analysis, Insights and Forecast, 2019-2030
- 9.1. Key Findings / Summary
- 9.2. By Type (Value)
- 9.2.1. Starch Blends
- 9.2.2. Polylactic Acid (PLA)
- 9.2.3. Bio-Polyethylene Terephthalate (Bio-PET)
- 9.2.4. Polyhydroxyalkanoate (PHA)
- 9.2.5. Bio-Polyethylene (Bio-PE)
- 9.2.6. Others
- 9.3. By Application (Value)
- 9.3.1. Packaging
- 9.3.2. Textiles
- 9.3.3. Automotive & Transportation
- 9.3.4. Consumer goods
- 9.3.5. Agriculture
- 9.3.6. Others
- 9.4. By Country (Value)
- 9.4.1. China
- 9.4.2. Japan
- 9.4.3. India
- 9.4.4. South Korea
- 9.4.5. Rest of Asia Pacific
- 10. Latin America Natural (Bio-based) Resin Market Analysis, Insights and Forecast, 2019-2030
- 10.1. Key Findings / Summary
- 10.2. By Type (Value)
- 10.2.1. Starch Blends
- 10.2.2. Polylactic Acid (PLA)
- 10.2.3. Bio-Polyethylene Terephthalate (Bio-PET)
- 10.2.4. Polyhydroxyalkanoate (PHA)
- 10.2.5. Bio-Polyethylene (Bio-PE)
- 10.2.6. Others
- 10.3. By Application (Value)
- 10.3.1. Packaging
- 10.3.2. Textiles
- 10.3.3. Automotive & Transportation
- 10.3.4. Consumer goods
- 10.3.5. Agriculture
- 10.3.6. Others
- 10.4. By Country (Value)
- 10.4.1. Brazil
- 10.4.2. Rest of Latin America
- 11. Middle East & Africa Natural (Bio-based) Resin Market Analysis, Insights and Forecast, 2019-2030
- 11.1. Key Findings / Summary
- 11.2. By Type (Value)
- 11.2.1. Starch Blends
- 11.2.2. Polylactic Acid
- 11.2.3. Bio-Polyethylene Terephthalate
- 11.2.4. Polyhydroxyalkanoate
- 11.2.5. Bio-Polyethylene
- 11.2.6. Others
- 11.3. By Application (Value)
- 11.3.1. Packaging
- 11.3.2. Textiles
- 11.3.3. Automotive & Transportation
- 11.3.4. Consumer goods
- 11.3.5. Agriculture
- 11.3.6. Others
- 11.4. By Country (Value)
- 11.4.1. South Africa
- 11.4.2. Rest of Middle East & Africa
- 12. Company Profiles
- 12.1. SABIC.
- 12.1.1. Overview
- 12.1.2. Description
- 12.1.3. Product Portfolio
- 12.1.4. Financials (Data as available in public domain and/or on paid databases)
- 12.1.5. Recent Developments
- 12.2. BASF
- 12.2.1. Overview
- 12.2.2. Description
- 12.2.3. Product Portfolio
- 12.2.4. Financials (Data as available in public domain and/or on paid databases)
- 12.2.5. Recent Developments
- 12.3. Braskem
- 12.3.1. Overview
- 12.3.2. Description
- 12.3.3. Product Portfolio
- 12.3.4. Financials (Data as available in public domain and/or on paid databases)
- 12.3.5. Recent Developments
- 12.4. Arkema
- 12.4.1. Overview
- 12.4.2. Description
- 12.4.3. Product Portfolio
- 12.4.4. Financials (Data as available in public domain and/or on paid databases)
- 12.4.5. Recent Developments
- 12.5. Ashland Performance Materials
- 12.5.1. Overview
- 12.5.2. Description
- 12.5.3. Product Portfolio
- 12.5.4. Financials (Data as available in public domain and/or on paid databases)
- 12.5.5. Recent Developments
- 12.6. Danimer Scientific.
- 12.6.1. Overview
- 12.6.2. Description
- 12.6.3. Product Portfolio
- 12.6.4. Financials (Data as available in public domain and/or on paid databases)
- 12.6.5. Recent Developments
- 12.7. Mininma
- 12.7.1. Overview
- 12.7.2. Description
- 12.7.3. Product Portfolio
- 12.7.4. Financials (Data as available in public domain and/or on paid databases)
- 12.7.5. Recent Developments
- 12.8. NatureWorks LLC
- 12.8.1. Overview
- 12.8.2. Description
- 12.8.3. Product Portfolio
- 12.8.4. Financials (Data as available in public domain and/or on paid databases)
- 12.8.5. Recent Developments
- 12.9. Avantium
- 12.9.1. Overview
- 12.9.2. Description
- 12.9.3. Product Portfolio
- 12.9.4. Financials (Data as available in public domain and/or on paid databases)
- 12.9.5. Recent Developments
- 13. Strategic Recommendations
Pricing
Currency Rates
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