Biobased Thermosetting Polymers: Market Introduction
Biobased Thermosetting Polymers, also known as bio-based resins, are derived from renewable resources such as algae, bacteria, microorganisms, plants, etc. They can be synthesized either directly or through the synthesis of the monomers that must be followed by polymerization. Thermosetting polymers derived from natural resources will be highlighted for future generations with greater sustainability for different applications. Over the last two decades, biobased thermosetting polymer products have gained popularity due to the depletion of fossil reserves and the protection of the environment from carbon emissions. Thermosetting plastics are synthetic materials that strengthen when heated, but can not be remolded after initial heat formation. These plastics have different types of products, each having its own unique set of properties.
The advantages of biobased thermosetting polymers includes low price, universal availability, less dangerous, and, to a large extent, preferred to conventional materials in chemical companies, but they do not need to be biodegradable and should reach industrial performance. There is a strong request to maintain sustainability for bio-based polymers in the chemical sector. Organic epoxy resins are made from plant carbon rather than carbon-based on petroleum. Green chemical techniques used for bio-based epoxy resins are energy-efficient and produce less dangerous by-products, thus reducing greenhouse gas emissions out of resin production by 50%. Moreover, biobased thermosetting polymers have relatively better structural property and are corrosion resistant. Stringent regulations for styrene emissions by ECHA are creating beneficial opportunities for the rise of biobased epoxy resins to be used in composites.
The demand for bio-packaging materials from biobased thermosetting polymers is expected to stimulate factors such as rising sales of green products and the need for sustainable production processes. In addition, this has increased consumer preference for environmentally friendly packaging and is leading to a shift of plastic manufacturers' interest in bio-resin products and thus drives the market. Fluctuations in the commodity price of bio-based epoxy resins are projected as an impediment to the growth during a forecast period of the biobased thermosetting polymers market.
Biobased thermosetting polymers find applications in the in adhesives, building industry as a sealant cover or on floor and building materials. It also finds its usage in the manufacturing industry; glass fiber products, such as marine crafts, rainwater tanks and electrical circuit boards etc.; adhesives & sealants and water-repelling etc. Thus, owing to the broad applications of biobased thermosetting polymers, the sales of biobased thermosetting polymer products is expected to increase over the forecast period, thereby leading to the growth of the global market.
Global Biobased Thermosetting Polymers Market is Experiencing massive decline as COVID-19 Outbreak
COVID-19 will significantly impact the Industrial goods industry as weel as biobased thermosetting polymers market adversely. This is the most affected verticals due to the ongoing COVID-19 outbreak. The pandemic and simultaneous halt in production activities will have grave impact the supply availability of a wide variety of renewable chemicals like biobased thermosetting polymers. Additionaly, current upsetting in global trade is also likely to gravely impact the availability of chemical stocks in import-dependent countries.
Segmentation Analysis of Global Biobased Thermosetting Polymers Market
Global Biobased Thermosetting Polymers Market is bifurcated into three major categories: type, application, and region.
On the basis of type, the global market for Biobased Thermosetting Polymers is divided into:
- Unsaturated polyesters resins (UPR)
- Phenol-formaldehyde (PF)
- Polyurethanes (PU)
- Epoxy/polyepoxide resins
On the basis of application, the global market for Biobased Thermosetting Polymers is divided into:
Based on the region, the global market for Biobased Thermosetting Polymers is segmented as:
- North America
- Latin America
- East Asia
- South Asia
- Middle East & Africa
Biobased Thermosetting Polymers Market: Regional Outlook
North America and Europe are projected to have a large share of the global market for biobased thermosetting polymers and will see a rise in demand for biobased thermosetting polymers during the forecasted period, which can be due to rising concerns about the use of petroleum-based epoxy resins that pose environmental problems. The Asia-Pacific region is expected to see substantial growth in the consumption of biobased thermosetting polymers during the forecast period, which can be attributed to the high presence of end-use industries such as composites, electronics, coatings, etc.
Biobased Thermosetting Polymers Market: Competition Outlook
Key players operating in the market include Dow Chemical, Bayer Material Science, BASF SE, Shell Chemicals Ltd, Huntsman Corporation, Carpenter Chemical, PERSTORP AB, Repsol, Rabigh, Dong Da Chemical Co, CPSC, Korea Polyol, Other Companies, Armacell GMBH, Recticel SA, ABT, Pond ApS, Sicomin, ALPAS, COOE, Nagase ChemteX Corporation, Spolchemie, ATL Composites, Change Climate, Wessex Resins, ALT Composites. Growing research and development program by players is projected to fuel the growth of the market over the forecast period.
The research report presents a comprehensive assessment of the Biobased Thermosetting Polymers market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. This Biobased Thermosetting Polymers market report provides analysis and information, according to market segments such as type, application, and region.
The Global Biobased Thermosetting Polymers Market Report Covers Exhaustive Analysis On:
- Market Segments
- Market Dynamics
- Market Size & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Value Chain
The Global Biobased Thermosetting Polymers Market Regional Analysis Includes:
- North America (U.S., Canada)
- Latin America (Mexico, Brazil, Argentina, Chile, Peru)
- Europe (UK, Germany, Spain, France, RoE)
- East Asia (China, Japan, South Korea)
- South Asia & Oceania (India, ASEAN, ANZ, Rest of Oceania)
- MEA (GCC Countries, South Africa, Turkey, Rest of MEA)
The biobased thermosetting polymers market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts, and industry participants across the value chain. The global biobased thermosetting polymers market report provides an in-depth analysis of parent market trends, macroeconomic indicators, and governing factors along with market attractiveness as per segments. The global biobased thermosetting polymers market report also maps the qualitative impact of various market factors on market segments and geographies.
The Global Biobased Thermosetting Polymers Market Report Highlights:
- A Detailed overview of the parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current, and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
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