DUBLIN, Aug. 29, 2022 /PRNewswire/ -- The "Bio-based Coatings Market by Resin (Alkyd, Polyurethane, Acrylic), Application (Architectural, Transportation, Woodworking, Packaging), Region (Asia Pacific, North America, Europe, South America, Middle East & Africa) - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The bio-based coatings market is projected to grow from USD 11.5 billion in 2022 to USD 18.2 billion by 2027, at a CAGR of 9.5% between 2022 and 2027.
Architectural segment is estimated to be the largest segment of the bio-based coatings market.
There is an interest in alternative raw materials, the quality, performance, and cost of architectural coatings, where bio-based coatings come into the picture. Different development activities have led to various bio-based building blocks becoming available for use in powder coating resins, which can deliver the required performance with careful formulation. There is also a drive for bio-based solutions with some paint companies specializing in these solutions.
Structures have different coating requirements in terms of esthetics and protective properties such as pollution, heavy foot traffic in public buildings, and regional climatic conditions (such as heavy rain and snow). Bio-based architectural paints and coatings help protect these structures with their properties, such as color and gloss retention, chemical and abrasion resistance, non-toxicity, and corrosion resistance.
Asia Pacific is forecasted to be the fastest-growing bio-based coatings market during the forecast period.
Asia Pacific encompasses a diverse range of economies with different levels of economic development and multiple industries. The development of the market is majorly attributed to the high economic growth rate followed by significant investments across industries such as automotive, consumer goods & appliances, building & construction, and furniture. Key players are expanding the production of paints and coatings in the Asia Pacific, especially in China and India. The advantages of shifting production to the region are the low cost of production and the ability to better cater to the emerging local markets.
Asia Pacific covers a vast region of the world which includes the largest and most dynamic economies such as China, Japan, South Korea, India, Australia, and Indonesia. China has been the driving force behind the rapid expansion of the bio-based coatings market in the Asia Pacific region. The market in China is fragmented with regional and international players co-existing.
Demand has also increased in other Asia Pacific countries such as South Korea, Singapore, India, and Indonesia, as residential construction activities in these countries have risen. Rising income levels, shift towards nuclear families, affordable interest rates, and modern attitudes towards home ownership in various countries are leading to a rapid increase in residential construction activities. These factors are leading to market growth.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in the Bio-based Coatings Market
4.2 Bio-based Coatings Market, by Application
4.3 Asia-Pacific: Bio-based Coatings Market, by Resin Type and Country, 2022
4.4 Bio-based Coatings Market, by Developed vs. Emerging Countries
4.5 Bio-based Coatings Market, by Key Countries
5 Market Overview
5.2 Market Dynamics
184.108.40.206 Reduced Carbon Emissions of Bio-based Coatings
220.127.116.11 Fast-Gaining Importance of Bio-based Resins in the Coatings Industry
18.104.22.168 Preference for Bio-based Coatings in Decorative Coatings Segment
22.214.171.124 Less Awareness About Bio-based Paint and Coating Products
126.96.36.199 Complexities Associated with Manufacturing Sustainable Products
188.8.131.52 Consumer Demand for Eco-Friendly Products Encouraging Manufacturers to Use Plant-based Ingredients
184.108.40.206 Strategic Developments Across Value Chain to Offer Opportunities for Manufacturers
220.127.116.11 Higher Price Range Than That of Fossil-based Coating Products
18.104.22.168 Availability of Renewable Raw Materials
5.3 Value Chain Analysis
5.4 Porter's Five Forces Analysis
5.5 Macro Indicator Analysis
5.5.2 Trends and Forecasts for GDP
5.5.3 Trends and Forecasts for Global Construction Industry
5.6 Pricing Analysis
5.7 Bio-based Coatings Ecosystem and Interconnected Markets
5.8 Yc and Ycc Shift
5.9 Trade Analysis
5.10 Patent Analysis
5.10.2 Publication Trends
5.10.3 Legal Status of Patents
5.10.4 Top Jurisdiction
5.10.5 Top Applicants
5.11 Case Study Analysis
5.12 Technology Analysis
5.13 Key Conferences & Events in 2022-2023
5.14 Tariff and Regulatory Landscape
5.14.1 Regulatory Bodies, Government Agencies, and Other Organizations
6 Bio-based Coatings Market, by Resin Type
6.2 Alkyd Resin
6.2.1 Oldest Resin with Extensive Applications in Coatings
6.3 Polyurethane Resin
6.3.1 Perfect Combination of Properties to Drive Segment Growth
6.4 Acrylic Resin
6.4.1 Fastest-Growing Bio-Resin due to Excellent Durability
7 Bio-based Coatings Market, by Application
7.2.1 High Demand for Bio-based Decorative Coatings to Drive Market
7.3.1 Electric Vehicle Trend Boosting Segment Growth
7.4.1 Use of Non-Toxic Coatings to Propel Market Growth
7.5.1 Government Regulations in Food & Beverage Industry to Boost Demand
8 Bio-based Coatings Market, by Region
9 Competitive Landscape
9.2 Company Evaluation Quadrant Matrix: Definitions and Methodology, 2021
9.2.2 Emerging Leaders
9.2.4 Emerging Companies
9.3 Market Share Analysis
9.4 Revenue Analysis
9.4.1 Sherwin-Williams Company
9.4.2 Ppg Industries
9.4.3 Stora Enso Oyj
9.4.4 Akzonobel N.V.
9.4.5 Nippon Paint Holdings Co. Ltd.
9.5 Competitive Benchmarking
9.6 Competitive Situations and Trends
10 Company Profiles
10.1 Key Players
10.1.1 Akzonobel N.V.
10.1.2 Ppg Industries
10.1.3 Sherwin-Williams Company
10.1.4 Nippon Paint Holdings Co. Ltd.
10.1.5 Stora Enso Oyj
10.1.6 Tremco Roofing & Building Maintenance (Tremco)
10.1.7 Ica Group
10.1.8 Industrias Quimicas Masquelack SA (Masquelack)
10.1.9 Chenyang Group
10.1.12 Cortec Corporation
10.1.13 Eco Safety Products
10.2 Other Players
10.2.1 Covestro AG
10.2.3 Kansai Paint Co. Ltd.
10.2.6 The Dow Chemical Company
10.2.7 Stahl Holdings B.V.
For more information about this report visit https://www.researchandmarkets.com/r/jn9eg1
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