According to a new market research report, 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″, published by MarketsandMarkets, 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. Consumer demand for greater products encouraging manufacturers to use plant-based ingredients.
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- 172 Market data Tables
- 40 Figures
- 185 Pages and in-depth TOC on “Bio-based Coatings Market – Global Forecast to 2027″
This report also provides a comprehensive analysis of the companies listed below:
AkzoNobel N.V. (Netherlands), PPG Industries (US), Sherwin-Williams Company (US), Nippon Paint Holdings Co., Ltd. (Japan), and Stora Enso OYJ (Finland)
Asia Pacific is estimated to be the largest consumer of bio-based coatings. The global bio-based coatings major players have made several strategic developments across value chain to focus on changing customer preferences.
Recent Developments in Bio-based Coatings Market Industry
- In August 2021, AkzoNobel N.V. launched this product in the Indian market. The product is India’s first USDA-certified bio-based paint.
- In October 2020, AkzoNobel N.V. launched this product in the Vietnam market. Air Clean Bio-based (Vietnam) contains 22 percent USDA-Certified bio-based content.