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Biopolymer Coatings Market from 2018 – 2024: Key Industry Participants are Meredian Holdings, Cargill, BASF, AkzoNobel, NatureWorks, Novamont, Roquette Group, DuPont, Mitsubishi Chemical, ADM
Biopolymer Coatings Market
Biopolymers are extracted from nature, usually biological origin and is biodegradable in nature. Biopolymer coatings are widely used as protective sheaths for packaging industry owing to its high flexibility, low oxidation, mechanical rigidity and water vapor permeability. These coatings have strong application outlook in automotive, flooring, decking and furniture due to rising consumer awareness towards green packaging, recyclability and sustainability.
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Limited reserves for crude, fluctuation in crude price, availability of agricultural or bio waste and rising awareness towards ecological problems should propel product demand. Changing environment regulatory and political condition emphas on reducing carbon emission and plastic usage, this should boost global biopolymer market during forecast period.
Global paper & cardboard production was estimated to produce over 700 million tons by 2024, biopolymer has extensive use in this industry replacing ethyl vinyl alcohol with strong mechanical & oxygen barrier. These products are also used as gas barrier in food industry extending shelf life & quality enhancement in packaged foods.
Global flexible packaging Market is anticipated to surpass USD 250 billion by 2024, this growth can be attributed to consumer emphasis on using renewable based products in food & beverage industry coupled with higher demand for lightweight products may enhance global biopolymer coatings market.
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Key raw material required for manufacturing biopolymer coatings include starch, PLA, soy protein, cellulose and chitosan. PLA is used mostly in food & beverage application due to its high cost and low thermal stability. Fluctuating raw material prices might hinder industry growth, and may impact market price trends.
Protein based biopolymer coatings are based from soy and zein and should expect growth rate of over 5%. It has extensive application scope in food & beverage and pharmaceutical industry.
PLA based coatings should expect growth rate of over 14% during forecast timeframe, owing to its extensive use in food & beverage and general packaging industry on account of its biodegradability, resistance to oil-based products and odour preventive barrier property.
Bio PU is anticipated to witness gains at a rate of over 6%. It shows strong application scope in textile, automotive, architectural and furniture industry replacing petrochemical products owing to its easy availability, bio-degradability and low cost.
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Europe led by Germany and Italy shows CAGR growth of over 6%. Strong automotive manufacturing industry base in Germany has strong application scope of biopolymer coatings in producing steering wheels, dashboards, door seats and consoles.
China biopolymer market show a growth rate of over 6% during forecast timeframe owing to rapid regional industrialization and strong government initiative to replace petrochemical products in construction, automotive and furniture industry should drive regional industry growth.
Global biopolymer coating market is highly fragmented with companies concentrating and investing in product differentiation. Some key players include Cargill, BASF, Corbion, EcoSynthetix and AkzoNobel.
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