Global Bio-based Paints and Coatings Market: In-Depth Analysis and Forecasts for 2024-2030
MarkNtel Advisors, a leading market research firm, has showed its latest study titled "Bio-based Paints and Coatings Market", offering a detailed industry overview and market perspective. This comprehensive research provides insights into the current state of the market, highlighting recent advancements and emerging trends.
The report combines in-depth quantitative analysis with qualitative analysis; it ranges from macro-overviews of the overall market size, industry chain, and market dynamics to micro details of segment markets. This, as a result, provides a thorough overview of the industry under study as well as a profound understanding of all of its important features.
Analysis and Insights into the Bio-based Paints and Coatings Market: 2024-2030
The Global 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. Stringent environmental regulations and sustainability initiatives imposed by governments and organizations worldwide have been driving the demand for eco-friendly and low-VOC (volatile organic compounds) coatings. These paints and coatings are derived from renewable sources owing to which they have reduced environmental footprint. As a result, they are in alignment with sustainability norms, leading to increased adoption in applications such as architectural & construction, automotive, furniture and woodwork, packaging, etc.
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What are the primary factors driving the growth of the Bio-based Paints and Coatings Market?
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.
Bio-based Paints and Coatings Market Segmentation:
The Bio-based Paints and Coatings market is categorized in to different segments. Analyzing growth across these segments enables a comprehensive understanding of key growth areas within the industry. This segmentation provides valuable market insights, empowering stakeholders to make strategic decisions and identify primary market applications effectively.
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
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
Geographical Analysis into the Bio-based Paints and Coatings Market:
The Bio-based Paints and Coatings market is categorized based regional:
- North America
- South America
- Europe
- The Middle East & Africa
- Asia-Pacific
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Competitive Landscape and Bio-based Paints and Coatings Market Share Analysis:
The competitive landscape of the Bio-based Paints and Coatings Market includes comprehensive details about competitors. These details encompass company overviews, financial performance, revenue generation, market potential, investments in research and development, new market strategies, production facilities, strengths and weaknesses, product launches, ongoing trials, approvals, patents, product range, dominant applications, and technology life cycle.
- 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.
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Questions Addressed in this Study
- What factors are driving the Bio-based Paints and Coatings Market growth?
- How is the Bio-based Paints and Coatings Market expected to grow over the next five years?
- What are the key insights into the current trends in the Bio-based Paints and Coatings Market?
- What is the current size of the Bio-based Paints and Coatings Market, and how is it projected to change in the future?
- What is the future outlook for the Bio-based Paints and Coatings Market in terms of technological advancements and market expansion?
Why choose MarkNtel?
MarkNtel Advisors is a leading market research company, 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 14.8 diverse industrial verticals.
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