MarkNtel Advisors recently published a detailed industry analysis of the Bio-based Paints and Coatings Market. The report covers growth trends, geographical marketing strategies, challenges, opportunities, and drivers influencing the market.
Bio-based Paints and Coatings Market Size, Share, and Trends Analysis Report – Industry Overview and Forecast to 2030
The Bio-based Paints and Coatings Market size is valued at USD 12.05 billion in 2023 and estimated to grow at a CAGR of around 9.4% during the forecast period, i.e., 2024-30.
What are the Major Driver of the Bio-based Paints and Coatings industry?
Transition of the Construction Sector Towards Sustainability to Drive the Demand – The construction sector globally has undergone a transition towards sustainability, which has been driven by various factors, including environmental concerns and government measures to meet climate change goals. The construction sector in countries such as the UAE, Germany, Norway, Singapore, etc., has enhanced its focus on innovation, sustainability, and the circular economy. Moreover, real estate investments across the residential and commercial sectors have been growing across the regions like Middle East and Asia-Pacific among others. For instance,
In 2022, South Africa’s Ministry of Human Settlements, Water and Sanitation, announced the construction of six mega social housing projects in the coming two years, starting in the financial year 2022/23.
These activities combined with the transition of the construction sector toward construction techniques that were less damaging to the environment have enhanced the demand for bio-based paints and coatings in the sector. Furthermore, many real estate investors and developers in Singapore, the UAE, Saudi Arabia, etc., have prioritized green building certifications, such as LEED and BREEAM, which promote sustainable construction practices. These certifications often require the use of eco-friendly materials, including bio-based paints and coatings, to meet their environmental criteria, which would also play a major role in market expansion during the forecast period.
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What segments define the Bio-based Paints and Coatings market from 2024 to 2030? How do these segments contribute to market dynamics and growth?
By Resin Type
Alkyd Resin – Market Size & Forecast 2019-2030, Thousand Tons
Polyurethane Resin – Market Size & Forecast 2019-2030, Thousand Tons
Acrylic Resin – Market Size & Forecast 2019-2030, Thousand Tons
Others (Polylactic Acid (PLA) Resins, Cellulosic Resins, etc.) – Market Size & Forecast 2019-2030, Thousand Tons
According to report, Acrylic Resin has registered significant growth in the Global Bio-based Paints and Coatings Market, as they offer excellent performance characteristics, including good adhesion, durability, weather resistance, and color retention.
By Application
Architectural – Market Size & Forecast 2019-2030, Thousand Tons
Automotive – Market Size & Forecast 2019-2030, Thousand Tons
Woodworking – Market Size & Forecast 2019-2030, Thousand Tons
Packaging – Market Size & Forecast 2019-2030, Thousand Tons
Others (Agricultural & Farm Equipment, Electronics, etc.) – Market Size & Forecast 2019-2030, Thousand Tons
According to report, The architectural sector has registered the highest demand for bio-based coatings and paints, as this sector has been at the forefront of sustainability initiatives and green building practices.
Explore the Complete Bio-based Paints and Coatings Market Analysis Report – https://www.marknteladvisors.com/research-library/bio-based-paints-coatings-market.html
Geographical Analysis: Bio-based Paints and Coatings Market
North America
South America
Europe
Middle East & Africa
Asia-Pacific
Bio-based Paints and Coatings Market Share & Competitive Landscape:
The Bio-based Paints and Coatings Market is characterized by intense competition, with several key players driving growth through innovation, market expansion, and strategic investments. The competitive landscape provides valuable insights into the industry’s leading companies, highlighting their strengths, financial performance, and market influence.
Leading Companies in the Bio-based Paints and Coatings Market are:
Akzo Nobel N.V.
Industria Chimica Adriatica SpA
PPG Industries, Inc
Sherwin Williams Company
NIPSEA Group
Tremco CPG Inc.
Cortec Coporation
Baril Coatings B.V.
Covestro AG
Industrias Químicas Masquelack, S.A.
Bio-based Paints and Coatings Industry Recent Development:
2023: PPG launched SIGMAGLIDE® 2390 marine coating, which is a biocide-free fouling release coating based on the PPG HYDRORESET™ technology, which modifies the coating when it is immersed in water to create a smooth surface.
2022: Cortec Corporation introduced EcoAir bio-based outdoor coating powered by Nano VpCI. This shift toward a biobased ingredient enhances sustainability and reduces reliance on fossil fuels, contributing to a more environmentally responsible product.
Questions Addressed in this Study
1. What factors are driving the Bio-based Paints and Coatings Market growth?
2. How is the Bio-based Paints and Coatings Market expected to grow over the next five years?
3. What are the key insights into the current trends in the Bio-based Paints and Coatings Market?
4. What is the current size of the Bio-based Paints and Coatings Market, and how is it projected to change in the future?
6.What is the future outlook for the Bio-based Paints and Coatings Market in terms of technological advancements and market expansion?
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MarkNtel Advisors is a leading research, consulting, & data analytics firm that provides an extensive range of strategic reports on diverse industry verticals. We deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, & individuals, among others.
Our specialization in niche industries & emerging geographies allows our clients to formulate their strategies in a much more informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, & trend analysis, among others, for 15 diverse industrial verticals.
More Research Studies Report:
–Biocomposites Market size was valued at around USD 36.9 billion in 2024 and is projected to reach USD 89 billion by 2030 with a CAGR of around 16%.
–Green Solvents Market size was valued at around USD 1.34 billion in 2024 & is projected to reach USD 1.87 billion by 2030 with a CAGR of around 5.7%.
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