Bio-based Paints & Coatings Market Explore Brief Analysis by Trends, Growth and Revenue Estimations till 2031 | Sherwin-Williams Company, Produits MAULER

Market Overview:

Bio-based paints & coatings are formulated using plant-based bio-derived materials such as vegetable oils, plant resin extracts, soy chemicals, and plant gums. They offer properties similar to conventional oil-based paints & coatings and are safer for the environment.

Market Dynamics:

Growing environmental concerns regarding VOC emissions from conventional paints & coatings are expected to drive the growth of the bio-based paints & coatings market during the forecast period. Various regulations regarding VOCs emissions such as REACH are compelling paints & coatings manufacturers to develop bio-based alternatives. Additionally, increasing consumer preference for sustainable products is also fueling the demand for bio-based variants. Furthermore, significant advancement in bio-based chemistry has improved product characteristics of bio-based paints & coatings such as finish, durability, and thickness, which is further augmenting their adoption rate.

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Major market players included in this report are:

★ Sherwin-Williams Company
★ Produits MAULER
★ Derivery Sas
★ SCSO UNIKALO
★ AURO Pflanzenenchemie AG
★ PPG Industries Inc.
★ Eco Safety Products
★ Ralston Colour & Coatings
★ NDUSTRIA CHIMICA ADRIATICA SpA
★ Tikkurila Oyj

*Disclaimer: Major Players are sorted in no particular order.

Detailed Segmentation:

On the basis of application,

✦ Decorative Paints
✦ Transportation
✦ Metal Industrial Coatings
✦ Industrial Maintenance and Protective
✦ Powder Coatings
✦ Automotive Refinish
✦ Wood Coatings
✦ Marine Coatings
✦ Coil Coatings
✦ Packaging Coatings

Regional Analysis:

North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia-Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

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👉 Two Key Market Drivers Pushing Growth of the Bio-based Paints & Coatings Market

✦ Rising concerns about environmental impact of petroleum-based paints and coatings is a major driver fueling adoption of bio-based alternatives. Conventional petroleum-derived paints and coatings emit VOCs and other hazardous chemicals that pollute the air and water bodies. They also contribute to global warming as their production involves extraction and refining of fossil fuels. In contrast, bio-based paints and coatings have lower VOC content and emission levels. They are manufactured using renewable biomass sources hence have lower carbon footprint over their lifecycle. Their rising demand is propelled by stringent environmental regulations restricting usage of VOCs.

✦ Growing consumer preference for sustainable products is another key factor boosting the bio-based paints & coatings market. Individual consumers as well as major corporations are increasingly prioritizing sustainability in their procurement decisions. Bio-based products are perceived to be environment-friendly and aligned with the sustainability goals of leading brands. This change in attitude is evidenced by the shift towards green building standards and green manufacturing practices. Companies offering bio-based paints and coatings thus gain a competitive edge in the marketplace by appealing to the sustainability demands of discerning consumers and businesses.

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✦ High Production Costs Pose Challenge to Market Growth

The major challenge faced by the bio-based paints & coatings market is their relatively higher production costs compared to conventional petroleum-derived products. Manufacturing bio-based resins, binders and other raw materials from renewable biomass feedstock involves complex extraction and chemical processes that drive up costs. Some of the technologies used for large-scale production of bio-based alternatives are still at a nascent stage and need further refinements to lower expenses. High initial capital investment requirements also weigh on profit margins for producers. This cost differential makes bio-based options more expensive than petrochemical counterparts, limiting their mass adoption. However, ongoing R&D towards process optimization along with growing economies of scale are expected to gradually narrow this price gap over the coming years.

✦ New Product Development Presents Opportunity for Market Expansion

Constant innovation in new product forms and formulations presents a promising growth opportunity for players in the bio-based paints & coatings market. Traditional paints and coatings come with limitations such as low durability, tainting, poor washability and lack of multifunctional attributes. Developing advanced product variants with superior performance characteristics can help bio-based products gain widespread appeal. For instance, companies are investing in R&D focused on enhancing the scratch and weather resistance of bio-acrylic coatings. Self-cleaning, anti-bacterial and anti-fouling coatings infused with nanomaterials also have good commercialization potential. Similarly, expansions into new application areas like marine, automotive and industrial segments through specialized product differentiation opens up untapped markets for bio-based brands. Continued innovations expanding the product portfolio will be critical for demand escalation.

✦ Sustainability Mega Trend Drives Strong Long-term Market Prospects

Rising focus on sustainability is a mega trend underpinning robust long-term prospects for the global bio-based paints & coatings market. Protecting the environment through responsible consumption has emerged as a universally important issue attracting policy support worldwide. Multiple international agencies have set ambitious decarbonization and emission reduction targets to combat climate change. This is propelling transition towards a low-carbon circular bioeconomy. As more countries and companies commit to sustainability agendas, demand is set to steadily grow for climate-smart products aligned with the green chemistry principles. Given their inherently eco-friendly formulation, bio-based paints and coatings are excellently positioned as such sustainable solutions, enabling steady market revenues over the coming decade. The industry is also likely to witness more consolidations and new product launches as established brands aggressively tap unpenetrated markets.

Key Questions

• How much revenue will the global Bio-based Paints & Coatings Market generate by the end of the forecast period?

• What regions currently contribute the maximum share to the overall Bio-based Paints & Coatings Market?

• What are the indicators expected to drive the global Bio-based Paints & Coatings Market?

• Which region is likely to be a lucrative market during the forecast period?

• What are the essential strategies incorporated by key stakeholders in the global Bio-based Paints & Coatings Market to expand their geographical presence?

• What are the major advancements witnessed in the global Bio-based Paints & Coatings Market?

• This report answers these questions and more about the global Bio-based Paints & Coatings Market, aiding major stakeholders and key players in making the right decisions and strategizing for the advancement of their business.

Table Of Content

Chapter No. 1 Introduction

1.1. Report Description

1.1.1. Purpose of the Report

1.1.2. USP & Key Offerings

1.2. Key Benefits for Stakeholders

1.3. Target Audience

1.4. Report Scope

Chapter No. 2 Executive Summary

2.1. Key Findings

2.1.1. Top Investment Pockets

2.1.1.1. Market Attractiveness Analysis, By Type

2.1.1.2. Market Attractiveness Analysis, By End Use

2.1.1.3. Market Attractiveness Analysis, By Region

2.2. Market Snapshot

2.3. Global Bio-based Paints & Coatings Market, 2018 - 2022 (US$ Million)

2.4. Insights from Primary Respondents

Chapter No. 3 COVID-19 Impact Analysis

3.1. Impact Assessment of COVID-19 Pandemic, By Region

3.1.1. North America

3.1.2. Europe

3.1.3. Asia Pacific

3.1.4. Latin America

3.1.5. The Middle East and Africa

Chapter No. 4: Company Profiles

4.1 Company Overview
4.2 Financial elements
4.3 Product Landscape
4.4 SWOT Analysis
4.5 Systematic Outlook

Chapter No. 5: Assumptions and Acronyms

Chapter No. 6: Research Methodology

Chapter No. 7: Contact (Continue . . .)

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