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.
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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.
AkzoNobel N.V. is a diversified chemical company and one of the market leaders in the fields of decorative paints, performance coatings, and specialty chemicals. It operates through two business segments, namely, decorative paints and performance coatings. AkzoNobel N.V. offers specialty paints, powder paints, and other coatings for various applications such as architectural and decorative, automotive, industrial, marine, protective, and yachts. Coral, Dulux, Flexa, Hammerite, Sadolin, Sikkens, Awlgrip, International, Interpon, Dissolvine, Eka, Expancel, Jozo, Levasil, and Kromasil are some of the renowned brands of the company.
PPG Industries, Inc. manufactures and distributes coatings, optical & specialty materials, and glass products. The company operates through two major segments, namely, performance coatings and industrial coatings. It also provides industrial and automotive coatings to manufacturing companies, adhesives & sealants to the automotive industry, metal pre-treatments & related chemicals for industrial and automotive applications, and packaging coatings to aerosol, food, and beverage container manufacturers. PPG Industries also offers architectural coatings which are used by painting and maintenance contractors and consumers to decorate and maintain residential & commercial building structures.
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