Press release
What factors are affecting Growth and Demand of Bio-based Coatings Market | Trends and Forecast till 2028 By Fact.MR
Market Dynamics:Growing environmental and health concerns demand the use of bio-based coatings for several applications. It has been observed that there is a cut down in the use of toxic or hazardous materials by the paints & coatings industry.
This move is a result of the growing demands for the bio-based coatings from the end use industries. Also, as there is an increasing awareness among the manufacturers and the end users of bio-based coatings around the sustainable products and solutions, there is a wide scope for bio-based coatings in the near future.
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Out of the few industries, paints and coatings industry is largely driven by the regional and global regulations and this will widely influence the market dynamics of the bio-based coatings as it is a budding segment of the coatings industry.
Presently, the increasing regulatory pressure on reducing the use of mineral oil based coatings, is one of the main drivers of bio-based coatings market. Green chemical technology is to play a bigger role in the development of bio-based coatings.
List of Key Market Players:
AURO Pflanzenenchemie AG
Benjamin Moore & Co.
Eco Safety Products
BASF SE
Cargill Incorporated
BioShields
Nippon Paint Holdings Co., Ltd.
KCC PAINTS SDN BHD.
NOROO Paint & Coatings Co.,Ltd.
Reliance Industries Ltd.
Japan Polypropylene Corporation
I. du Pont de Nemours and Company
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Regional Outlook:
Region wise, Asia Pacific is a big market accounting for a larger global share of bio-based coatings. Asia Pacific is followed by Europe and North America. Latin America and Middle East and Africa regions are observed to generate almost equal demand and the global scenario is expected to remain the same.
Asia Pacific, Latin America and Middle East and Africa are expected to show double digit growth rates in the bio-based coatings during the forecast period while Europe and North America will have a steady growth.
Asia Pacific, Europe and Americas (North and Latin) are under vast corporate investments in the research and development to enable the cost effective production of bio-based coatings.
North America and Europe will be at the forefront of bio-based coatings innovation while the mass production is expected to occur in the Asia Pacific region due to lower production costs.
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Market Segmentation:
The bio-based coatings market can be segmented on the basis of area of application, VOC content, sector and end use industries.
On the basis of area of application, bio-based coatings can be segmented by:
Internal application
External application
On the basis of VOC content, bio-based coatings can be segmented into:
Zero VOC (VOC content less than 5 grams per liter)
Low VOC (VOC content less than 50 grams per liter)
VOC absorbing
Natural paints
On the basis of sector, bio-based coatings can be segmented as:
Commercial sector
Industrial sector
Residential sector
On the basis of end use, bio-based coatings can be segmented by:
Paints, coatings, adhesives and printing inks
Automobiles
Construction
Others
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Report Highlights:
Detailed overview of parent market
Changing market dynamics in the industry
In-depth market segmentation
Historical, current, and projected market size in terms of volume and value
Recent industry trends and developments
Competitive landscape
Strategies of key players and products offered
Potential and niche segments, geographical regions exhibiting promising growth
A neutral perspective on market performance
Must-have information for market players to sustain and enhance their market footprint
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In-depth understanding of key industry trends shaping the present growth dynamics
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