Bio-based Coating Market
Bio-based Coating Market Study by Zero VOC, Low VOC, and VOC Absorbing Content for Internal and External Application From 2024 to 2034
Analysis of Bio-based Coating Market Covering 30 + Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Bio-based Coating Market Outlook (2024 to 2034)
The global bio-based coating market is currently valued at US$ 13.56 billion in 2024 and is forecasted to expand at a CAGR of 8.6% to reach US$ 30.83 billion by 2034.
Growing environmental concerns and policies that support sustainable solutions are driving the growth of the market for bio-based coatings. Innovation in bio-based coating formulations is fueled by consumer demand for environmentally friendly products and technological breakthroughs. Industries are adopting bio-based substitutes because of growing awareness of the detrimental impact conventional coatings have on the environment and human health.
The development and usage of renewable resources are encouraged by government efforts and incentives, which in turn drive market expansion. Further, the market growth is driven by the growing range of industries in which bio-based coatings are being applied, including paint and coatings, automotive, construction, and packaging. With all this, the market in East Asia is escalating significantly with the presence of huge economies including China and Japan the overall East Asia market is forecasted to progress at a CAGR of 8.7% between 2024 and 2034.
The global trend of reducing reliance on fossil fuels, which is mirrored by several sectors looking to lower their carbon footprints, is driving the bio-based coating market. This trend is undoubtedly considered in the larger context of company responsiveness and compliance with sustainability principles. To some extent, it is attributed to legislative imperatives.
Suppliers in the market are researching and finding new applications every year, some of the major applications for bio-based coatings involve internal application and external applications. Between these two, the internal application segment is projected to advance at a CAGR of 8.8% between 2024 and 2034. Apart from this, the sector segment is also gaining a huge momentum across the world with prominent countries contributing to this market involves the United States, China, Mexico, Canada, and South Korea.
| Report Attribute | Detail |
|---|---|
| Bio-based Coating Market Size (2024E) | US$ 13.56 Billion |
| Forecasted Market Value (2034F) | US$ 30.83 Billion |
| Global Market Growth Rate (2024 to 2034) | 8.6% CAGR |
| North America Market Value (2024E) | US$ 3.97 Billion |
| Mexico Market Value (2034F) | US$ 1.47 Billion |
| External Application Segment Growth Rate (2024 to 2034) | 8.2% CAGR |
| United States Market Value (2034F) | US$ 6.67 Billion |
| Key Companies Profiled | IBM Corporation; Microsoft; H2O.ai; Google; SAP; Abzoids; TruEra; Protopia AI; Arthur; Kintsugi; MOSTLY AI; Scale AI. |
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Factors Driving Bio-based Coating Market
The major push for shifting to bio-based coating solutions is derived from environmental considerations. The rising awareness among manufacturers has resulted in accelerated demand for bio-based coating material. The paint industry manufacturers looking to cut down on toxic materials are ideally promoting the growth of the Bio-based coating market share. Bio-based materials are partially made with natural materials that intend to absorb carbon and reduce the environmental impact in terms of reduced carbon footprint.
The automotive owners, furniture, and packaging industry players are driving bright opportunities and high-value applications of bio-based coating materials. These companies are now investing and introducing new products in the markets owing to the need for renewable options.
There is a surge in demand for no-solvent coatings is projected to rise in the forecast duration. Global warming and climate change have got the attention of manufacturers, and it is expected to drive growth in the forecast duration. The European Union’s regulations affecting the companies in terms of restrictions on Carbon emission are prime concerns behind the shift to bio-based explorations.
What are the Hurdles for Bio-based Coatings Manufacturers to Overcome?
There is a lack of awareness about the benefits of bio-based solvents across users, which is making people reluctant. Regional restrictions include government regulations on solvent-based coatings, and their applications have to impact on companies’ sales. The fluctuations in raw materials are imposing another channel for companies affecting their profit margins.
While companies in bio-based products are improving sales statistics by focusing on more informative promotions, due to complex processing, the prices of bio-based coatings are higher than other coatings, which tends to push customers away and is a challenge for vendors. At the same time, process modifications and rising awareness are key strategies needed by manufacturers to stop customers from choosing cheaper alternatives over bio-based coating products.
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Plant-based Coating Solutions to take over Fossil Solvents
Resins and soya beans are widely used to make the plant-based coating. Other plant products such as sugarcane, castor beans, cashew nuts shells, and algae are used for bio-based coating solutions. The fossil-based solvents are set to be replaced by plant-based options owing to environmental regulations. Moreover, increasing consumer demand for sustainable options and government pressure on vendors have an impact on the coating sector.
Ranging from closed production units to many combinations, these industry players have been exposed to demands and toxicity concerns associated with the products, which are fostering factors behind the demand for plant-based solvents over fossil ones.
Green chemicals are widely used by manufacturers in the processing of bio-based coatings, which is expected to follow an upward growth trajectory. European ECOBIOFOR (Eco Paint Bio-Based Formulations) is a project working towards bringing advancements in the manufacturing of bio-based coating. North America dominated the global share of bio-based epoxy resins in 2021, owing to the wider applicability of resin-based epoxy coatings.
Regional Insights
The Asia Pacific to dominate global share of the bio-based coating market
Asia is expected to be the largest market for bio-based coating in the forecast duration. The region consists of economies of different shapes and includes a diversified range of industries making it widely attractive for bio-based coating manufacturers. The key industries propelling demand for bio-based coating material in this region are construction, automotive, furniture, and consumer goods.
Progressive change is expected in countries like China and India, owing to cheap labor and the ability to better target markets in the region. The progressive shift in incomes and inclination towards nuclear families are driving forces behind the increasing construction industry. These factors are leading to make the Asia Pacific region promising for forecast duration.
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Segment Analysis
Based on the applications, Paints are a dominant section in internal applications of bio-based coatings. The internal application of these paints is expected to keep clean air inside homes and should not affect human health. However, external coating is done in food packaging, hydrogels and films, and emulsions. Moreover, the coating is widely used in marine structures, automotive, and energy items packaging. The largest part of bio-based coating research is centered around bio-plastic food packaging, personal care products, and paper coating.
Based on VOC content, zero VOC is preferred the most as it has no additional chemical solvents and is considered as least harmful to the environment. The volatile organic compounds level in paint determines the class of chemicals in it which begin to vaporize in indoor temperatures. Zero VOC is widely demanded because its’ environmental and health impacts are expected to notice high revenue in the forecast duration. However, low VOC and natural paints are also expected to see larger acceptance and demand in the bio-based coating market.
Industrial usage of bio-based coatings is more dominating than that of commercial usage owing to the quantity required. Chitosan is among the most preferred biopolymers drawing the attention of industry players because of its inherent properties such as biodegradability, antimicrobial, and film-forming ability. The automobile industry has a wide scope for coating solutions owing to the rising demand for automobiles globally.
Recent Developments
Strategic Partnership to Be a Regular Episode in the Market
Paint manufacturers are using strategic partnerships and collaboration to increase geographical reach and brand loyalty. These firms are focused on product sustainability and research on organic components. Maintaining a profit margin with the minimum VOC products is a challenge faced by vendors. However, investment in research and ingredients has served as beneficial for companies to maintain their market position.
- In June 2022, Eco Safety Company acquired Soy Technologies leading to the expansion of its bio-based coatings and alternatives for methylene chloride. The company has opted for this strategic collaboration, as it was likely to benefit in terms of the customer base of Soy technology and growth opportunities.
- Benjamin Moore paint company is working on the development of Color Lock technology, which is based on a color system meant to be gold standard VOC compliance and color matching fast durable paint options.
- Akzo Nobel is exploring the alternatives of bio-based ingredients for a fossil-based economy including the paints product segment. The company is dedicatedly to using recycled and bio-based products.
Segmentation of Bio-based Coating Market Research
-
By Application :
- Internal Application
- External Application
-
By VOC Content :
- Zero VOC
- Low VOC
- VOC Absorbing
-
By Sector :
- Commercial
- Industrial
Table of Content
- 1. Executive Summary
- 2. Industry Introduction, including Taxonomy and Market Definition
- 3. Market Trends and Success Factors, including Macro-economic Factors, Market Dynamics, and Recent Industry Developments
- 4. Global Market Demand Analysis and Forecast, including Historical Analysis and Future Projections
- 5. Pricing Analysis
- 6. Global Market Analysis and Forecast
- 6.1. Application
- 6.2. Voc Content
- 6.3. Sector
- 7. Global Market Analysis and Forecast, By Application
- 7.1. Internal application
- 7.2. External application
- 8. Global Market Analysis and Forecast, By Voc Content
- 8.1. Zero VOC
- 8.2. Low VOC
- 8.3. VOC absorbing
- 9. Global Market Analysis and Forecast, By Sector
- 9.1. Commercial
- 9.2. Industrial
- 10. Global Market Analysis and Forecast, By Region
- 10.1. North America
- 10.2. Latin America
- 10.3. Western Europe
- 10.4. Eastern Europe
- 10.5. East Asia
- 10.6. South Asia & Pacific
- 10.7. MEA
- 11. North America Sales Analysis and Forecast, by Key Segments and Countries
- 12. Latin America Sales Analysis and Forecast, by Key Segments and Countries
- 13. Western Europe Sales Analysis and Forecast, by Key Segments and Countries
- 14. Eastern Europe Sales Analysis and Forecast, by Key Segments and Countries
- 15. East Asia Sales Analysis and Forecast, by Key Segments and Countries
- 16. South Asia & Pacific Sales Analysis and Forecast, by Key Segments and Countries
- 17. MEA Sales Analysis and Forecast, by Key Segments and Countries
- 18. Sales Forecast by Application, Voc Content, and Sector for 30 Countries
- 19. Competition Outlook, including Market Structure Analysis, Company Share Analysis by Key Players, and Competition Dashboard
- 20. Company Profile
- 20.1. AURO Pflanzenenchemie AG
- 20.2. Benjamin Moore & Co.
- 20.3. Eco Safety Products
- 20.4. BASF SE
- 20.5. Cargill Incorporated
- 20.6. BioShields
- 20.7. Nippon Paint Holdings Co., Ltd.
- 20.8. KCC PAINTS SDN BHD.
- 20.9. NOROO Paint & Coatings Co., Ltd.
- 20.10. Reliance Industries Ltd.
- 20.11. Japan Polypropylene Corporation
- 20.12. I. du Pont de Nemours and Company
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List Of Table
Table 01: Global Market US$ Bn Forecast by Region
Table 02: Global Market US$ Bn Forecast by Application
Table 03: Global Market US$ Bn Forecast by Voc Content
Table 04: Global Market US$ Bn Forecast by Sector
Table 05: North America Market US$ Bn Forecast by Country
Table 06: North America Market US$ Bn Forecast by Application
Table 07: North America Market US$ Bn Forecast by Voc Content
Table 08: North America Market US$ Bn Forecast by Sector
Table 09: Latin America Market US$ Bn Forecast by Country
Table 10: Latin America Market US$ Bn Forecast by Application
Table 11: Latin America Market US$ Bn Forecast by Voc Content
Table 12: Latin America Market US$ Bn Forecast by Sector
Table 13: Western Europe Market US$ Bn Forecast by Country
Table 14: Western Europe Market US$ Bn Forecast by Application
Table 15: Western Europe Market US$ Bn Forecast by Voc Content
Table 16: Western Europe Market US$ Bn Forecast by Sector
Table 17: Eastern Europe Market US$ Bn Forecast by Country
Table 18: Eastern Europe Market US$ Bn Forecast by Application
Table 19: Eastern Europe Market US$ Bn Forecast by Voc Content
Table 20: Eastern Europe Market US$ Bn Forecast by Sector
Table 21: East Asia Market US$ Bn Forecast by Country
Table 22: East Asia Market US$ Bn Forecast by Application
Table 23: East Asia Market US$ Bn Forecast by Voc Content
Table 24: East Asia Market US$ Bn Forecast by Sector
Table 25: South Asia & Pacific Market US$ Bn Forecast by Country
Table 26: South Asia & Pacific Market US$ Bn Forecast by Application
Table 27: South Asia & Pacific Market US$ Bn Forecast by Voc Content
Table 28: South Asia & Pacific Market US$ Bn Forecast by Sector
Table 29: MEA Market US$ Bn Forecast by Country
Table 30: MEA Market US$ Bn Forecast by Application
Table 31: MEA Market US$ Bn Forecast by Voc Content
Table 32: MEA Market US$ Bn Forecast by Sector
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List Of Figures
Figure 01: Global Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Application
Figure 02: Global Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Voc Content
Figure 03: Global Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Sector
Figure 04: Global Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Region
Figure 05: North America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Application
Figure 06: North America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Voc Content
Figure 07: North America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Sector
Figure 08: North America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Country
Figure 09: Latin America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Application
Figure 10: Latin America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Voc Content
Figure 11: Latin America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Sector
Figure 12: Latin America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Country
Figure 13: Western Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Application
Figure 14: Western Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Voc Content
Figure 15: Western Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Sector
Figure 16: Western Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Country
Figure 17: Eastern Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Application
Figure 18: Eastern Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Voc Content
Figure 19: Eastern Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Sector
Figure 20: Eastern Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Country
Figure 21: East Asia Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Application
Figure 22: East Asia Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Voc Content
Figure 23: East Asia Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Sector
Figure 24: East Asia Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Country
Figure 25: South Asia & Pacific Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Application
Figure 26: South Asia & Pacific Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Voc Content
Figure 27: South Asia & Pacific Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Sector
Figure 28: South Asia & Pacific Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Country
Figure 29: MEA Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Application
Figure 30: MEA Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Voc Content
Figure 31: MEA Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Sector
Figure 32: MEA Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Country
Know thy Competitors
Competitive landscape highlights only certain players
Complete list available upon request
- FAQs -
What is the future Growth Outlook for Bio-based Coating Market?
The bio-based coating market is likely to cross a valuation of USD 30.83 Billion by the end of 2034.
What is the Growth rate for the Bio-Based Coating Market across the world?
This market is projected to grow with a CAGR of 8.6% in the forecast duration of 2024 to 2034.
What is the Current Growth Outlook for the Bio-based Coating Market?
At present, the bio-based coating market valuation is USD 13.56 Billion in 2024.
Bio-based Coating Market