Market Size of Bio-based Resins Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 16.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Europe |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Bio-based Resins Market Analysis
The bio-based resins market is expected to record a CAGR of over16%, during the forecast period. The major factors driving the growth of the market studied are the increasing demand for the packaging sector, from theeco-friendly products, and government regulations on synthetic resins. On the flip side, the need for change in cost structure is one of the major stumbling blocks in for the marketstudied.
- The packaging segment dominated the market. It is likely to grow during the forecast period, owing to the growing environmental concerns related to the disposal of packaging materials, and the need for eco-friendly packaging.
- The availability of cheaper alternatives is likely to provide opportunities for the market studied, during the forecast period.
