COVID-19 Impact on Biobased Thermosetting Polymers market

  • The COVID-19 pandemic has weakened the demand for biobased thermosetting polymers in automotive and construction sectors. The path of recovery for biobased thermosetting polymers market is highly dependent on the duration of restrictions imposed and their influence on economic activities across the globe.
  • The COVID-19 pandemic has adversely affected the industrial production. This has impacted the supply of biobased thermosetting polymers across the globe.

Key Drivers of Biobased Thermosetting Polymers Market

  • Demand for biobased thermosetting polymers is rising significantly, thus driving the adoption of these polymers as alternatives to plastics in order to reduce pollution
  • Several research activities have been conducted to explore the use of biobased thermosetting polymers and meet the need for sustainable development across the globe
  • Increase in demand for biobased thermosetting polymers in the building & construction industry is expected to drive the market in the near future

Biobased Thermosetting Polymers: Market Segmentation

  • The biobased thermosetting polymers market can be segmented based on type, application, and region
  • Based on type, the biobased thermosetting polymers market can be segregated into unsaturated polyester resins, polyurethanes, phenol formaldehyde, epoxy resins, and others
  • Based on application, the biobased thermosetting polymers market can be classified into building & construction, automotive, packaging, furniture, electronics, adhesives & sealants, and others
  • In terms of region, the biobased thermosetting polymers market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa

Biobased Thermosetting Polymers: By Type

  • Based on type, the global biobased thermosetting polymers market can be segmented into unsaturated polyester resins, polyurethanes, phenol formaldehyde, epoxy resins, and others
  • Green chemical techniques are implemented where biobased epoxy resins are used in place of conventional materials to lower the risk of dangerous by-product formation in the reaction, thus reducing greenhouse gas emissions

Biobased Thermosetting Polymers: By Application

  • Based on application, the global biobased thermosetting polymers market can be segregated into building & construction, automotive, packaging, furniture, electronics, adhesives & sealants, and others
  • The building & construction segment is projected to gain high share of the global biobased thermosetting polymers market during the forecast period
  • Increase in consumer demand for environment-friendly packaging is likely to boost the demand for biobased thermosetting polymers in the packaging segment
  • Demand for biobased polyurethanes foams is high in the automotive sector in the manufacture of seats and armrests

Biobased Thermosetting Polymers: By Region

  • In terms of region, the biobased thermosetting polymers market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
  • North America and Europe accounted for large share of global biobased thermosetting polymers market in 2020
  • Asia Pacific is expected to witness substantial growth in the consumption of biobased thermosetting polymers during the forecast period

Key Manufacturers Operating in Biobased Thermosetting Polymers Market

Key manufacturers operating in the global biobased thermosetting polymers market include:

  • Huntsman Corporation
  • Dow Chemicals
  • Repsol
  • Perstrop
  • Bayer Material Science
  • Wessex Resins

Biobased Thermosetting Polymers: Research Scope

Biobased Thermosetting Polymers Market, by Type

  • Unsaturated Polyester Resins
  • Phenol Formaldehyde
  • Epoxy Resins
  • Polyurethanes
  • Others

Biobased Thermosetting Polymers Market, by Application

  • Building & Construction
  • Automotive
  • Packaging
  • Furniture
  • Electronics
  • Adhesives & Sealants
  • Others

Global Biobased Thermosetting Polymers Market, by Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • U.K.
    • France
    • Italy
    • Spain
    • Russia & CIS
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • ASEAN
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • South Africa
    • Rest of Middle East & Africa

Biobased Thermosetting Polymers: Introduction

  • Biobased thermosetting polymers are also known as biobased resins that are derived from renewable resources such as algae, microorganisms, and plants
  • Thermosetting polymers are in soft solid or viscous state. Upon heating, they undergo extensive cross-linking and become irreversibly hard.
  • Biobased thermosetting polymers derived from natural resources are highlighted for greater sustainability for various applications
  • Advantages of biobased thermosetting polymers include low prices as the polymers are derived from natural resources. These polymers are less dangerous and harmful than the conventional materials used in chemical industries.
  • Biobased thermosetting polymers products have gained popularity due to the depletion of fossil reserves and protection of the environment from carbon emissions

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Biobased Thermosetting Polymers Market