Biopolymer Coatings Market Major Players are Cargill, BASF, AkzoNobel, NatureWorks, Novamont, Roquette, DuPont, Archer Daniels Midland Company, Corbion, Safepack Industries Ltd., Mitsubishi Chemical, EcoSynthetix Inc., WestRock Company
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1. Strong application scope in paper packaging
2. Replacement potential for synthetic polymers
Europe biopolymer coatings industry will generate a significant revenue with a CAGR of more than 6% over the coming seven years. Surging usage of the product in the food & beverage sector owing to the deployment of supportive rules and regulations will drive the regional growth. Germany, UK, and France are forecast to be the major contributors of Europe biopolymer coatings market.
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PLA based biopolymers are extensively used in the food & beverage sector for vegetables, water, fruits, nuts, beverages, and alcohol packaging, pertaining to which PLA based biopolymer coatings market will collect a revenue of more than USD 50 million by 2024.
Considering that the globe has been facing the environmental issues of landfill and degradation, consumers have been changing their focus from plastic to paper, mainly across the APAC belt. Asia Pacific accounted for more than 45% of the share in global paper production industry. The increasing usage of paper across the food & beverage sector will positively impact the packaging sector, which in turn will favor biopolymer coatings industry share. Bio PU based coatings are easily available, less harmful to the environment, biodegradable, and less expensive, subject to which bio PU based biopolymer coatings industry will register an annual growth rate of more than 6% over the period of 2016 to 2024. The growth can also be attributed to the escalating use of the product for automotive, furniture, textile, and architectural applications.
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