Growth in the coating industry globally and increasing demand from textile industry are some key factors driving market revenue growth.
The Global Bio-Based Epoxy Resins Market Size Is Expected To Reach USD 15.24 Billion In 2028 And Register A Revenue CAGR Of 6.2% Over The Forecast Period, According To A Latest Report By Reports And Data. Market Revenue Growth Is Primarily Driven By High Demand For Automotive, Decorative, Marine, And Industrial Coatings, Owing To Expansion Of The Coating Industry Around The Globe. Besides, Increasing New Constructions Are Surging Usage Of Architectural Coatings For Decorating And Protecting New And Existing Commercial, Residential, And Industrial Structures. It Is Thus Resulting In Rising Demand For Amino Resins.
In Addition, Rising Sales Of Vehicles And Expansion Of The Automotive Industry In Developing Countries Are Contributing To Increasing Demand For High Performance Automotive Coatings. These Factors Are Expected To Drive Market Growth During The Forecast Period. Amino Resins Are Commonly Utilized In Flexible Backings That Are Found On Carpets And Draperies, As Well As In Protective Surface Coatings, Particularly Durable Baked Enamels Of Appliances And Automobiles. Melamine-Based Amino Resins Are Being Increasingly Utilized In OEM Automotive Coatings, Container Coatings (Both Interior And Exterior), Metals Finishes, And Prefinished Applications Due To Various Properties, Such As UV Stability, Excellent Chemical Resistance, Heat Resistance, And Film Harness.
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Some Key Highlights from the Report
- In June 2021, BASF SE announced investment in a new RD center in Japan for more seamless development and production. The company is enhancing its innovation efficiency in Japan by shifting the Dispersions and Resins Applications RD Center from Amagasaki to Yokkaichi. Shifting of the RD center will be performed in order to enhance customer centricity by minimizing interfaces and enabling faster responses. The new initiative is expected to leverage global RD expertise and help in the application of local RD flexibility to provide best-fit solutions.
- Urea formaldehyde segment is expected to account for largest revenue share in the global Bio-Based Epoxy Resins Market over the forecast period. Urea formaldehyde resins serve as effective curing agents and are cost-effective, which is further boosting its usage in cabinets, doors, case goods, countertops, and fixtures for interiors. These resins are increasingly utilized for fast cure, stability, high strength, and versatility properties.
- Fibers adhesives segment is expected to account for a considerably large revenue share in the global Bio-Based Epoxy Resins Market owing to expansion of the construction industry in emerging economies. Increasing construction of commercial, residential, and industrial buildings is further projected to increase demand for wood products, such as medium-density fiberboard, plywood, particle board, sawdust board, and chipboard, which is boosting utilization of adhesives.
- The Bio-Based Epoxy Resins Market in Asia Pacific is expected to account for largest revenue share over the forecast period. Rising demand from the construction industry, especially in developing countries, owing to surging development of new commercial, residential, and industrial buildings, utilities, roads, bridges, and other infrastructure is expected to propel demand for coatings and increase usage of amino resins. Additionally, rapid urbanization would also support growth of the Asia Pacific market.
- Major players in the market report include BASF SE, Chemique Adhesives and Sealants Ltd., Arclin Inc., DIC Corporation, Georgia-Pacific LLC, Hexza Corporation, Ercros, SA, Chemiplastica SpA, Rayonier Advanced Materials, and Hexion Inc.
The key regions covered in the report are as follows:
- North America (U.S., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- The Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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Type Outlook (Revenue, USD Billion; 2018-2028)
- Urea Formaldehyde
- Melamine Formaldehyde
Application Outlook (Revenue, USD Billion; 2018-2028)
- Particle Board
- Fibers Adhesives
- Paper Paperboard
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Table of Contents:
1.1 Research Scope
1.2 Key Bio-Based Epoxy Resins Market segments
1.3 Major players
1.4 Market analysis by product type
1.5 Market analysis by application
1.6 Report timeline
Global Growth Trends
2.1 Global Bio-Based Epoxy Resins Market size
2.2 Latest regional market trends
2.3 Emerging growth trends
3.1 Global Bio-Based Epoxy Resins Market key players
3.2 Global Amino Resins size by manufacturers
3.3 Products of major players
3.4 Entry barriers in the Bio-Based Epoxy Resins Market
3.5 Mergers, acquisitions, joint ventures, and other strategic alliances
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