Bagasse was rapidly liquefied in ethylene carbonate catalyzed by sulfuric acid at 140-170 degrees C. The liquefaction was finished within 18 min. The liquefaction product was a mixture of polyols and phenolic compounds. The hydroxyl number of liquefied bagasse was in the range of 200-330 mg of KOH/g. The liquefied bagasse comprised two major fractions with different molecular weights. The average molecular weight of each fraction changed little during the liquefaction procedure, but the ratio of the content of the two fractions varied with time. An epoxy resin was prepared from the liquefied bagasse and diglycidyl ether of bisphenol A. The resin was cured with triethylene tetramine at 1.00 degrees C. The resin presented higher adhesive shear strength and better thermal stability than a commercial epoxy resin. (c) 2005 Wiley Periodicals, Inc.