Asia Bio-Based Resins Market Exports and Imports, Market Future Outlook, Market Forecast

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Bio-based resins are synthetic compounds made from renewable raw materials which are different from conventional resins and are used for the manufacturing of various products such as packaging materials, furniture, carpets, films, bottles, cups, and automotive parts. The increasing sales of natural products, use of green products with functional benefits, and the need for sustainable manufacturing processes has stimulated the need for bio-packaging materials made from bio resins. Almost all the plastics and packaging manufacturers are adopting bio-packaging products due to the increasing preference for eco-friendly packagings. The stringent environmental regulations, the need to meet the corporate sustainable goals, and inclination towards the green branding of products are propelling consumers to adopt bio-based resin products. Asian markets are witnessing a high rate of penetration of bio-based resin waste bags and loose-fill packaging materials because governments are promoting the use of bio-based or biodegradable resins that are fuelling the use of bio-based resins in various applications.

According to the study “Asia Bio-Based Resins Industry Situation and Prospects Research report”, bio-based resin market in Asia comprises of multiple vendors and is highly-competitive. Due to rapid advances in technology and changing dynamics will definitely intensify the market’s competitive environment. Majority of the vendors are focusing on creating strong brand names with well-established products that exhibit long-term reliability.

Non-Biodegradable Bio-Based Resins and Biodegradable Bio-Based Resins are the two types of bio-based resins available in Asian markets. Packaging, automotive, construction and other industries are the major end-users of the bio-based resins in Asia. Geographically, bio-based resins in Asia market is spread across China, Japan, India, Korea, Saudi Arabia and other region. The leading players in bio-based resins in Asia market are BASF, DuPont, Dow Chemical, Arkema, Ashland, DSM, Huntsman International, Braskem, Metabolix, Cereplast and Ecospan. dThe non-biodegradable bio-based resins segment will account for a major share in the Asian markets. The various types of non-biodegradable bio-based resins are bio-polyethylene terephthalate, bio-polyol and polyurethane, bio-polyamides, bio-polytrimethylene terephthalate, and bio-polypropylene. The growing importance of sustainable packaging in Asia coupled with the popularity of bio-based resins will surely fuel the market.

Majority of the manufacturers are using bio-based resins to produce bottle caps, mineral water bottles, carbonated soft drink bottles, and dairy packaging. Emerging economic conditions, environmental concerns, changing consumer behaviour, rising preference for convenience foods, demand for special packaging, availability of eco-friendly products such as eco-resins, and need to extend the shelf-life of fresh food items are few factors boosting the demand for bio-based resins in the packaging sector. Consumer appeal towards the eco-friendly packaging materials will surely drive the growth in Asia’s bio-based resins market over the next few years.

To know more click on the link below:

https://www.kenresearch.com/metal-mining-and-chemicals/chemicals/asia-bio-based-resins-industry-situation-and-prospects-research-report/145706-101.html

https://www.kenresearch.com/metal-mining-and-chemicals/chemicals/china-bio-based-resins-industry-situation-and-prospects-research-report/146216-101.html

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