Bio-based Coatings Market by Type (Acrylic, Alkyds, Epoxy, Polyester, Urethane, and Others), Application (Automotive, Wood, Paper, Building and Construction, Food Packaging, and Others): Global Market Size Estimates and Forecast (2022-2030)

Code: BMIRE00026356 | Pages: 100 | Industry: Chemicals and Materials | Date: Sep 2022 | Type: Global

The market crossed US$ 11.5 billion mark in 2022 and is expected to hit US$ 23.5 billion by 2030, recording a CAGR of 9.5% during the forecast period.


Rising demand for environmentally friendly surface coatings to drive market growth

Rising demand for environmentally friendly surface coatings for building and construction application is expected to drive the market growth. In addition, shifting manufacturers’ focus from producing conventional composite materials to bio-based materials is likely to favor the bio-based surface coating’s demand globally. Furthermore, nose & throat infection incidences due to the adoption of synthetically made coatings is pushing users toward using bio-based paints & coatings, supporting the market growth.    

Within the report, the market is segmented into type, application, and geography. By type, the market is further segmented into acrylic, alkyds, epoxy, polyester, urethane, and others. By application, the market is segregated into automotive, wood, paper, building and construction, food packaging, and others. Geographically, the market is sub segmented into North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa.

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Government mandates to promote the usage of bio-based products to drive market growth

Governmental agencies and associations are mandating various industries to substitute the solvent-based coatings with water-based alternatives. This aspect is likely to increase the waterborne bio-based epoxy coatings’ demand globally. Manufacturers focus on developing nanocomposite technology-based, bio-based polymer coatings of improved functionality with UV blocking properties is expected to support the growth of the bio-based coatings market. Increasing adoption in furniture, flooring, and other construction activities is expected to fuel the building and construction segmental growth.  


Rising bio-based coatings usage in various industries applications to drive market growth.

Bio-based coating materials are used in various applications such as automotive, wood, paper, building and construction, food packaging, and others. Rising demand for the bio-based coatings in matte finishing of automotive surfaces is expected to drive the automotive segmental growth. In addition, increasing demand for bio-based coatings and paints for wood-based structures is likely to favor the market growth globally. Increasing bio-based coatings usage in various application areas such as paper, building and construction, food packaging, and others is also supporting the worldwide industry growth.


Recent strategic developments in bio-based coatings market

The bio-based coatings market has undergone several significant developments, and a few of these have been mentioned below:

  • In June 2022, Eco Safety, Inc. acquired Soy Technologies, LLC., Kentucky, US-based manufacturer of soy-based chemicals to expand its methylene chloride alternatives and bio-based coatings business in the US.
  • In November 2021, Covestro AG, a German polyurethane and polycarbonate materials producer launched Decovery SP-8310, a 37% breathable, bio-based, multi-purpose resin for the exterior coating applications.

The bio-based coatings market is driven by several players implementing strategic activities such as investments, new launches, mergers & acquisitions, and partnerships. BASF SE, KCC PAINTS SDN BHD, Cargill Incorporation, Eco Safety Products, Benjamin Moore & Co. are among the prominent players operating in the market.

Target audience for the report:

  • Bio-based coating manufacturer
  • Bio-based coating supplier
  • Bio-based coating dealer and exporter
  • Chemical industry-related associations, organizations, forums, and alliances
  • Government bodies, such as regulating authorities and policy makers
  • Venture capitalists, private equity firms, and start-up companies
  • End users of Bio-based coatings
  • Research institutes, organizations, and consulting companies

Scope of the report:

In this report, the market has been segmented on the basis of:

  • Type:
    • Acrylic
    • Alkyds
    • Epoxy
    • Polyester
    • Urethane
    • Others  
  • Application:
    • Automotive
    • Wood
    • Paper
    • Building and Construction
    • Food Packaging
    • Others  
  • Region
    • North America
    • Europe
    • Asia Pacific (APAC)
    • South & Central America
    • Middle East & Africa
  • Companies profiled
  • Cargill Incorporation
  • Eco Safety Products
  • Benjamin Moore & Co.

Companies profiled
- Cargill Incorporation
- Eco Safety Products
- Benjamin Moore & Co.

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