MarkNtel Advisors recently published a detailed industry analysis of the Global Bio-based Paints and Coatings Market. The report covers growth trends, geographical marketing strategies, challenges, opportunities, and drivers influencing the market.

Global Bio-based Paints and Coatings Market, 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.

Key Findings in Global Bio-based Paints and Coatings Market:

• Historical Analysis: 2019–2022
• Base Year: 2023
• Forecast Period: 2024–2030

Leading Market Players- 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., Others

Key Highlights of the Report

• Market Dimensions & Projections
• Pricing Evaluation,
• Recent Strategic Moves by Companies,
• Primary Stakeholders,
• Analysis of Import and Export Trends,
• Competitive Landscape Assessment,
• Emerging Opportunities,
• Market Trends and Indicators

What are the major Driver the Global 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 Global 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 Global Bio-based Paints and Coatings Market Analysis Report – https://www.marknteladvisors.com/research-library/bio-based-paints-coatings-market.html

Geographical Analysis: Global Bio-based Paints and Coatings Market

 By Region

• North America
• South America
• Europe
• The Middle East & Africa
• Asia-Pacific

Global Bio-based Paints and Coatings Market 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.

Key Questions Addressed in This Study

• What are the primary factors driving the growth of the Global Bio-based Paints and Coatings Market?
• How is the Global Bio-based Paints and Coatings Market expected to evolve over the next five years?
• What key insights can be drawn from current trends shaping the market?
• What is the current market size, and how is it forecasted to change in the coming years?
• What is the future outlook for the market in terms of technological innovation and geographic 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 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.

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