The bio-based epoxy resin market is a fast-growing segment in the chemical industry. Bio-based epoxy resins are derived from renewable resources such as vegetable oils and starches, providing a sustainable alternative to petroleum-based products. These eco-friendly materials are in the limelight among consumers because of their low impact on the environment and their excellent performance.
Unsaturated polyester resins, phenol-formaldehyde resins and amine resins are just a few examples of the many cross-linked polymers that belong to the class of sophisticated thermoset resins known as epoxy resins. Instead of using petroleum-derived carbon, bio-based epoxy resins use plant-derived carbon.
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Epoxy resins do not require the addition of volatile reactive diluents such as styrene, a substance of special concern under OSHA and ECHA. Epoxy resin has relatively good corrosion resistance and structural properties. ECHA’s stringent regulations on styrene emissions are creating lucrative opportunities for the growth of bio-based epoxy resins used in composites.
Separately, manufacturers are also making efforts to replace petroleum-based raw materials with natural and eco-friendly materials, which is expected to contribute to the growth of the bio-based epoxy resin market in the future. forecast period.
Bio-Based Epoxy Resins Market: Dynamics
Bio-based epoxy resins exhibit certain properties that make them more attractive than other epoxy resins on the market. Some of these properties include no unpleasant odor, relatively better than petroleum-based epoxy resins, low VOCs, low odor, good strength, and UV-resistant transparency. Therefore, the demand for bio-based epoxy resins is expected to increase during the forecast period due to the favorable properties exhibited by bio-based epoxy resins.
Bio-based epoxy resins find various applications in the building industry, such as floor coatings or sealants, building materials and adhesives. It is also used in the manufacturing industry. glass fiber products such as rainwater tanks, ships, and electric circuit boards; Water repellents and adhesives and sealants, etc. Therefore, the widespread application of bio-based epoxy resins is expected to boost the sales of bio-based epoxy resin products over the forecast period, which will lead to the growth of global biotechnology. Epoxy based epoxy resin market. In 2016, Sicomin presented its full range of bio-based epoxy resin products at the JEC World exhibition in Paris.
Growth in the electronics, paints & coatings industries is expected to drive the demand for bio-based epoxy resins along with the increasing use of compounds and adhesives in various applications, thus increasing bio-based epoxy resin manufacturers to increase their production capacity during the forecast period.
Fluctuations in the price of raw materials required for the production of bio-based epoxy resins are expected to act as a hindrance to the growth of the bio-based epoxy resins market over the forecast period.
Bio-Based Epoxy Resin Market: Segmentation
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Bio-Based Epoxy Resins Market: Regional Outlook
North America and Europe are expected to hold significant share in the global bio-based epoxy resins market and are expected to witness an increase in demand for bio-based epoxy resins over the forecast period, which can be attributed to the growing demand for bio-based epoxy resins . Concerns over the use of bio-based epoxy resins. Petroleum-based epoxy resin products causing environmental problems.
Asia Pacific is expected to experience significant growth in terms of consumption of bio-based epoxy resins during the forecast period, which can be attributed to the strong presence of end-use industries such as composites, electronics, coatings, and others.
Latin America and Middle East & Africa (MEA) regions are expected to witness steady growth in terms of demand for bio-based epoxy resins over the forecast period.
Bio-Based Epoxy Resins Market: Key Players
A few examples of some of the key players identified along the value chain of the global bio-based epoxy resin market include:
- ApS Pond
- Nagase Chemtex Co., Ltd.
- spall chemistry
- ATL compounds
- weather change
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