Press release
Bio-based Paints & Coatings Market | Sherwin-Williams Company, Produits MAULER, Derivery Sas, SCSO UNIKALO
Bio-based Paints & Coatings Market
Greenhouse gases emitted during production of bio-based paints & coatings are lower than synthetic paints & coatings. Synthetic paints & coatings contain solvents which are made from volatile organic compounds (VOCs). VOCs have negative impact on human health and also contribute to climate change whereas bio-based paints & coatings contain fewer VOCs or zero VOCs.
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MARKET TAXONOMY
On the basis of application, the bio-based paints & coatings market is segmented into:
Decorative Paints
Transportation
Metal Industrial Coatings
Industrial Maintenance and Protective
Powder Coatings
Automotive Refinish
Wood Coatings
Marine Coatings
Coil Coatings
Packaging Coatings
Players operating in the bio-based paints & coatings market are adopting strategies such as product development in order to expand their product portfolio and increase their market presence. For instance, in October 2018, Tikkurila Group launched Alcro A1, a new eco-labeled interior wall paint in Sweden. The product is made by using bio-based ingredients. The product will help the company to expand its product portfolio in bio-based paints & coatings market.
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Among regions, Asia Pacific is expected to be fastest-growing region in bio-based paints & coating market over the forecast period. Increasing government investments in developing corporate and commercial infrastructures is expected to potentially drive demand for decorative paints. This in turn is expected to drive market growth of the bio-based paints & coatings market. For instance, the Indian government has decided to increase investments in the infrastructure sector. For example, in 2015, the Indian Ministry of Road Transport, Highways and Shipping announced a target of US$ 376.53 Bn investment in infrastructure sector by 2018. This, in turn, creates a highly conducive environment for growth of the bio-based paints and coatings market.
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