Global Mabs Resin Market Overview
As per MRFR analysis, the Mabs Resin Market Size was estimated at 40.69 (USD Billion) in 2022. The Mabs Resin Market is expected to grow from 41.4 (USD Billion) in 2023 to 48.35 (USD Billion) by 2032. The Mabs Resin Market CAGR (growth rate) is expected to be around 1.74% during the forecast period (2024 - 2032).
Key Mabs Resin Market Trends Highlighted
The Mabs Resin Market is primarily driven by the increasing demand for advanced materials in various end-use industries.
The growing adoption of lightweight and high-performance materials in the automotive, aerospace, and construction sectors is a key driver of market growth. The increasing focus on sustainability and the need for environmentally friendly materials are also contributing to the market's expansion.
Recent market trends indicate a growing emphasis on bio-based Mabs resins, owing to their low environmental impact and renewability. Additionally, there is a significant demand for customized Mabs resins to meet specific performance requirements in various applications.
The integration of advanced technologies, such as 3D printing and additive manufacturing, is creating new opportunities for the production and utilization of Mabs resins.
Exploring opportunities for sustainable and biodegradable Mabs resins, as well as the development of novel formulations to cater to emerging industry needs, will be crucial for market growth.
The expansion of applications in high-growth sectors like electronics, healthcare, and energy will also drive market expansion.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Mabs Resin Market Drivers
Increasing Demand for Biologics
The demand for biologics is driven by the growing prevalence of chronic diseases such as cancer and autoimmune disorders. Biologics are complex molecules that are manufactured using biotechnology and have transformed the way many diseases are treated.
In the production of biologics, Mabs resins are utilized. As a result, the Mabs resin market is likely to be fueled by the expanding demand for biologics. The global biologics market is expected to be valued at USD 540 billion by 2026, up 8.5 percent from 2021 to 2026.
A rising prevalence of chronic disorders, an increasing need for personalized medicine, and an increasing demand for biosimilars are all propelling the biologics market’s growth.
Mabs resins are vital in the production of biologics owing to the fact that the Mabs resins offer the support matrix necessary for the cells that manufacture the biologics. Furthermore, a high-quality Mabs resin might dramatically enhance the yield and purity of the biologics, so it is critical to choose Mabs resin carefully.
Mabs, which are based on a monoclonal antibody, offer strong support for the manufacture of biologics from antibodies. The supplies of these resins are mostly stable, which should help to keep their costs in line.
The emergence of the biologics industry is projected to have a positive impact on the market for additional resin supplies. The Mabs resin market is projected to expand at a CAGR of 1.74 percent, from USD 42.39 billion in 2025 to USD 48.35 billion in 2032.
Technological Advancements
In addition to the growing biotech industry, the Mabs resin market is being fueled by technological advancements.
As an illustration, the production of biologics is becoming more efficient and cost-effective due to the emergence of such technologies as continuous chromatography and single-use bioreactors, which can facilitate the production of biologics and, in turn, are likely to drive the market growth.
To explain, continuous chromatography is a method that allows for the continuous separation of biologics from the Mabs resin.
This technology often results in the increased yield and purity of biologics, at the same time reducing the cost of production. In its turn, a single-use bioreactor is a type of bioreactor that is used to produce a single batch of biologics.
This technology can be more cost-effective and efficient, as there is no need to clean and sterilize the bioreactor, while the subsequent batch of biologics does not have to wait until the reactor is cleaned. Overall, one can see that the development of new technologies is likely to drive market growth.
Government Support
The growth of the Mabs resin market is being supported by governments around the world. Governments are funding research and development in the field of biologics and are also implementing policies that encourage the adoption of biologics.
This is expected to drive the growth of the Mabs resin market in the coming years. For instance, the US government has funded research on the development of new Mabs resins. The US government has also implemented policies that encourage the adoption of biologics, such as the Biologics Price Competition and Innovation Act.
The support of governments around the world is expected to drive the growth of the Mabs resin market in the coming years.
Mabs Resin Market Segment Insights:
Mabs Resin Market Application Insights
Application Summary Electronics is anticipated to be the fastest-growing end-use segment in terms of volume. The increasing use of electronic components for smartphones, laptops, and tablets is estimated to drive this growth.
The Automotive segment was valued at USD 9.85 billion by 2023. The growing consumption in automotive components, including bumpers, dashboards, and interior trim, is expected to fuel the demand.
The Construction segment was valued at USD 8.9 billion in 2023 on account of its increasing consumption in the manufacturing of construction materials, including roofing, siding, and flooring.
The Packaging segment is anticipated to rise at a CAGR of 7.1% in terms of revenue by 2032. Growth in this segment can be attributed to the rising consumption in the production of plastic packaging products such as food and beverage containers, and pharmaceutical packaging, poly bags, wraps, and bottles.
The Industrial segment was valued at USD 6.8 billion by 2023. Increasing utilization of the product in the manufacturing of industrial adhesives, coatings, and sealants is anticipated to drive market growth.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Mabs Resin Market Product Type Insights
BMC is a versatile material that is used in a number of applications, such as automotive, construction, and electrical. The Mabs Resin Market revenue from BMC was 12.34 billion USD in 2023, and the figure is expected to reach 15.23 billion USD in 2028, showing a 3.2% growth rate.
The market growth is influenced by the relatively high strength-to-weight ratio of BMC as well as its excellent dimensional stability, and resistance to chemicals and corrosion. SMC is another important product type in the Mabs Resin Market. SMC offers a number of benefits, including low shrinkage and the ability to sustain production volumes.
Thanks to those qualities, SMC is commonly used in the automotive and transportation industries. The Mabs Resin Market size for SMC was 9.56 billion USD in 2023, and the figure is expected to reach 12.14 billion USD in 2028, showing a 2.8% CAGR.
LFT is an increasingly popular product, as it combines the best qualities of polyamide and high glass content in material that is strong and tough as well as lightweight. The market value of LFT was 7.32 billion USD in 2023, and the figure is expected to reach 9.45 billion USD by 2028, showing a 3.6% compound annual growth rate.
The market is driven by the no less impressive demand for LFT in automotive and aerospace. GMT is another material that is both strong and stiff.
The value of the Mabs Resin Market from GMT was 6.89 billion USD in 2023, and the market is expected to reach 8.87 billion USD in 2028, showing a 2.9% CAGR. The growth is driven by the expanding use of GMT in the transportation and construction industries.
Mabs Resin Market Fiber Reinforcement Insights
The Fiber Reinforcement segment of the Mabs Resin Market is expected to grow significantly in the coming years, driven by the increasing demand for lightweight and high-performance materials in various industries.
Glass fiber is expected to dominate the segment, accounting for over 50% of the market share in 2024. Carbon fiber is also expected to witness a steady growth, owing to its superior strength-to-weight ratio and high thermal stability. Aramid fiber and natural fiber are expected to gain traction in the coming years, due to their eco-friendly nature and low cost.
Mabs Resin Market Value Insights
This growth is attributed to increasing demand for Mabs resins in various end-use industries, including automotive, construction, and packaging. The automotive industry is a major consumer of Mabs resins, owing to their lightweight and durable properties, which make them ideal for use in vehicle components.
The construction industry also utilizes Mabs resins for their resistance to chemicals and moisture, making them suitable for roofing, flooring, and other applications.
Furthermore, the growing adoption of Mabs resins in the packaging industry is driven by their ability to provide barrier properties and enhance the shelf life of products.
Mabs Resin Market End-User Industry Insights
The End-User Industry segment plays a crucial role in shaping the dynamics of the Mabs Resin Market. Among the key end-user industries for Mabs Resins are Electrical and Electronics, Automotive and Transportation, Manufacturing, Construction and Infrastructure, and Consumer Goods.
Electrical and Electronics emerged as the dominant end-user industry, accounting for a significant share of the Mabs Resin Market revenue in 2023. The demand for Mabs Resins in this sector is driven by their exceptional electrical insulation properties, making them ideal for use in electronic components, circuit boards, and electrical devices.
The Automotive and Transportation industry is another notable end-user segment, utilizing Mabs Resins for their lightweight and durable properties. Mabs Resins find applications in automotive parts, interior components, and exterior body panels, contributing to the industry's growth.
In the Manufacturing sector, Mabs Resins are employed for their corrosion resistance and toughness, making them suitable for industrial machinery, equipment, and tools. The Construction and Infrastructure segment also utilizes Mabs Resins for their strength and durability, leveraging them in building materials, pipes, and other infrastructure components.
Lastly, the Consumer Goods industry employs Mabs Resins in various applications, including packaging, appliances, and consumer electronics. The demand from this segment is driven by the resins' ability to enhance product durability, aesthetics, and functionality.
The Mabs Resin Market segmentation based on End-User Industry provides valuable insights into the industry dynamics, market growth opportunities, and key trends shaping the market landscape.
Understanding these segments enables stakeholders to make informed decisions, identify potential growth areas, and develop effective strategies to capitalize on market opportunities.
Mabs Resin Market Regional Insights
North America, Europe, APAC, South America, and MEA are the main regional segments of the Mabs Resin Market. Among these regions, North America held the largest market share in 2023 and is expected to maintain its dominance throughout the forecast period.
The presence of key players, favorable government policies, and increasing demand from the pharmaceutical and biotechnology industries contribute to the growth of the Mabs Resin Market in North America.
Europe is another significant region in the Mabs Resin Market, with a strong presence of pharmaceutical companies and advanced healthcare infrastructure.
The APAC region is expected to witness the fastest growth in the Mabs Resin Market due to increasing healthcare expenditure, rising prevalence of chronic diseases, and the presence of a large population base.
South America and MEA are emerging markets with growing demand for Mabs Resins in the healthcare and biotechnology sectors. The Mabs Resin Market is expected to grow significantly in the coming years, driven by increasing demand for Mabs in various applications, technological advancements, and favorable government initiatives.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Mabs Resin Market Key Players and Competitive Insights:
Major players in the Mabs Resin Market are constantly striving to gain a competitive edge by investing in research and development, expanding their product offerings, and establishing strategic partnerships. The Mabs Resin Market is characterized by intense competition, with leading Mabs Resin Market players jockeying for market share.
These players are implementing various strategies, such as mergers and acquisitions, to strengthen their position in the market. Mabs Resin Market development is being driven by factors such as increasing demand from the electronics industry, rising adoption of lightweight materials, and growing awareness of environmental sustainability.
The competitive landscape of the Mabs Resin Market is expected to remain dynamic in the coming years, with new entrants and existing players vying for a larger slice of the market.
A leading player in the Mabs Resin Market is Huntsman Corporation. The company has a strong global presence and a wide range of Mabs Resin products. Huntsman Corporation is known for its innovative product offerings and its commitment to sustainability.
The company has a strong customer base in the electronics, automotive, and aerospace industries. Huntsman Corporation is also actively involved in research and development, which has enabled it to develop new Mabs Resin products that meet the evolving needs of its customers.
A competitor company in the Mabs Resin Market is SABIC. The company is a global leader in the production of petrochemicals and plastics. SABIC has a wide range of Mabs Resin products that cater to various industries.
The company is known for its high-quality products and its strong customer service. SABIC is also investing in research and development to develop new Mabs Resin products that meet the changing needs of its customers.
Key Companies in the Mabs Resin Market Include:
- Merck KGaA
- Sartorius
- Thermo Fisher Scientific
- Agilent Technologies
- Cytiva
- Lonza Group
- Porvair Sciences
- Repligen Corporation
- MilliporeSigma
- Catalent
- BioRad Laboratories
- GE Healthcare
- Danaher
- Pall Corporation
Mabs Resin Market Developments
The Mabs Resin Market has witnessed steady growth in recent years, driven by increasing demand from various end-use industries such as automotive, electronics, and construction.
Key factors contributing to this growth include the rising adoption of lightweight materials in automotive manufacturing, increasing demand for electronics, and growing infrastructure development.
Recent news developments in the market include strategic partnerships and acquisitions among major players, as well as investments in research and development to enhance product performance and sustainability.
Mabs Resin Market Segmentation Insights
Mabs Resin Market Application Outlook
- Electronics
- Automotive
- Construction
- Packaging
- Industrial
Mabs Resin Market Product Type Outlook
- BMC (Bulk Molding Compound)
- SMC (Sheet Molding Compound)
- LFT (Long Fiber Thermoplastics)
- GMT (Glass Mat Thermoplastics)
Mabs Resin Market Fiber Reinforcement Outlook
- Glass Fiber
- Carbon Fiber
- Aramid Fiber
- Natural Fiber
Mabs Resin Market Value Outlook
- $4.93 billion (2023)
- $8.73 billion (2032)
Mabs Resin Market End-User Industry Outlook
- Electrical and Electronics
- Automotive and Transportation
- Manufacturing
- Construction and Infrastructure
- Consumer Goods
Mabs Resin Market Regional Outlook
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North America
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Europe
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South America
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Asia Pacific
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Middle East and Africa
| Report Attribute/Metric |
Details |
| Market Size 2022 |
40.69(USD Billion) |
| Market Size 2023 |
41.4(USD Billion) |
| Market Size 2032 |
48.35(USD Billion) |
| Compound Annual Growth Rate (CAGR) |
1.74% (2024 - 2032) |
| Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year |
2023 |
| Market Forecast Period |
2024 - 2032 |
| Historical Data |
2019 - 2023 |
| Market Forecast Units |
USD Billion |
| Key Companies Profiled |
Merck KGaA, Sartorius, Thermo Fisher Scientific, Agilent Technologies, Cytiva, Lonza Group, Porvair Sciences, Repligen Corporation, MilliporeSigma, Catalent, BioRad Laboratories, GE Healthcare, Danaher, Pall Corporation |
| Segments Covered |
Application, Product Type, Fiber Reinforcement, Market Value, End-User Industry, Regional |
| Key Market Opportunities |
Digitalization in bioprocessing Rising prevalence of chronic diseases Technological advancements to enhance efficacy |
| Key Market Dynamics |
Technological advancements Rising demand from healthcare industry Increasing government support Growing focus on sustainability Expanding applications in drug delivery systems |
| Countries Covered |
North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The global Mabs Resin Market is expected to reach USD 48.35 billion by 2032, exhibiting a CAGR of 1.74% during the forecast period (2024-2032).
North America and Europe are the dominant markets for Mabs Resin, followed by Asia-Pacific and the Rest of the World.
Medical devices and packaging are the primary applications of Mabs Resin, accounting for a significant share of the market.
BASF, Merck, SABIC, and Covestro are among the leading players in the global Mabs Resin Market.
Increasing demand from the medical and packaging industries, technological advancements, and favorable government regulations are driving the growth of the Mabs Resin Market.
Fluctuating raw material prices, stringent environmental regulations, and competition from alternative materials pose challenges to the Mabs Resin Market.
Expanding applications in emerging markets, advancements in bio-based Mabs Resins, and increasing adoption in sustainable packaging offer growth opportunities for the Mabs Resin Market.
Sustainability, innovation, and digitalization are key trends shaping the Mabs Resin Market.
The Asia-Pacific region is expected to witness a significant growth rate in the Mabs Resin Market due to increasing demand from the medical and packaging industries.
Technological advancements, stringent regulations, and increasing adoption of medical devices are driving the growth of the Mabs Resin Market in North America.
