Bio-based Resin composites Market Introduction
Composites are turning over as one of the extensively utilized class of materials across numerous industries as they are mechanically strong and stiff and show exceptional level of efficacy in wide temperature range. In the commercial market place there are numerous materials used for composites formulation such as glass fiber, carbon fiber and bio-based resin composites to name a few. Now a days, end users are shifting their preferences for the usage of bio-based resin composites from the conventional composites. Weight saving and long-term sustainability of the bio-based resin composites is the key reason implicit behind its increased adoption in the commercial market-place. Bio-based resin composites are gaining immense traction across the globe because of its environment friendly nature, which helps in the mitigation of carbon dioxide emission footprints.
In the commercial marketplace, bio-based resin composites are synthesized through number of renewable biological sources which includes hemp, wood, kenaf and flax among others. Also, some of the manufactures rely on bio plastics and bio-degradable polymers for the synthesis of bio-based resin composites such as polylactic acid, polybutylene succinate (PBS), polyhydroxyalkanoates (PHA) to name a few. Introduction of bio-degradable plastics in bio-based resin composites synthesis enables value added properties such as exceptional mechanical behavior, lightweight to name a few, thus expanding its end-user industry landscape.
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Bio-based Resin composites Market Dynamics
Bio-based resin composites with its value added properties are gaining traction amongst the end users, and it is expected that the same roadmap is anticipated to follow in long-term scenario. Companies and consumers are shifting their choices and seeking for the products that have minimal environmental impact, reduced carbon dioxide emission and contains minimal percentage of petroleum based plastics. Thus, creating huge demand gains for bio-based resin composites. Easy availability of the natural raw material for the production bio-based resin composites is an added factor fueling its supply and demand in the commercial marketplace. Moreover, the construction industry, where the bio-based resin composites are generally used for the production of doors, windows, insulation material, terrace decking and acoustic components is turning over as the biggest sales market, therefore rise in construction industry across the globe is expected to create huge demand space for bio-based resin components.
The bio-based resin composites had various cons associated with them such as complex processing involvement, unstable cost, low strength when compare to synthetic composites to name a few. These factors are considered as major stumbling block for bio-based resin composites market, thus delayed the market introduction of bio-based resin composites products. However, extensive research is going on in the bio-based resin composites universe in order to overcome the industry challenges
Bio-based Resin composites Market Segmentation
The global Bio-based Resin composites market can be segmented on the basis of Flow Models, tonnage, application & end-uses.
On the basis of material type, the global Bio-based Resin composites market can be segmented as:
- Flax bio-based resin composites
- Coir bio-based resin composites
- Hemp bio-base resin composites
- Kenaf bio-based resin composites
- Plastic bio-based resin composites
On the basis of Application, the global Bio-based Resin composites market can be segmented as:
- Natural Fiber Composites
- Plastic Composites
On the basis of End-use the global Bio-based Resin composites market can be segmented as:
- Automotive
- Aerospace
- Construction
- Furniture
- Consumer Goods
- Others
Bio-based Resin composites Market Participants
Some of the market participants identified across the value chain of global
- Ligrove
- UPM
- Nanjing Jufeng Advanced Materials Co., Ltd
- FlexForm Technologies
- Fiberon LLC
- Universal Forest Products
- Green Bay decking
- Bio composites Group
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Bio-based Resin composites Market Regional Outlook
The global Bio-based Resin composites market is expected to dominate by the eastern part of the globe i.e. China and SEA and other APAC countries. Heavy investment in construction industry in China and India is expected to create the profit-field for bio based resin composite products and associated manufacturers. Strict government norms imposed to reduce the carbon footprint in US and Europe is expected to create attractive growth opportunity for bio-based resin composites. Also, the rising demand for lightweight vehicles in order to meet the CAFÉ (Corporate Average Fuel Economy) standards is expected to create the demand space for bio-based resin composites in automobile manufacturing countries include China, Germany, Brazil to name a few.