MarkNtel Advisors, a leading market research and consulting firm, has announced the release of its latest study titled Bio-based Paints and Coatings Market Research Report: Forecast (2024–2030). This report provides a detailed assessment of the Bio-based Paints and Coatings, covering its evolving dynamics, emerging trends, key growth drivers, major challenges, and competitive landscape.
Designed to guide investors, stakeholders, and business leaders, the research aims to deliver valuable insights for strategic planning, risk assessment, and investment decision-making in the years ahead.
Market Timeline Overview
- Historical Years: 2019–22
- Base Year: 2023
- Forecast Years: 2024–30
This helps businesses identify emerging opportunities, assess market risks, and develop data-driven strategies for long-term success.
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Bio-based Paints and Coatings Market Outlook
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.
Bio-based Paints and Coatings Market Drivers:
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.
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Bio-based Paints and Coatings Market Trends:
High Production Cost & Capital Expenditure to Hinder Market Growth – Bio-based paints and coatings are considerably more expensive than their petroleum-based counterparts, which has been limiting its market competitiveness and creating a challenge for market players to penetrate price-sensitive markets across the globe. The higher price of bio-based paints and coatings is attributed to high production costs, arising from the limited availability of bio-based feedstock and high capital expenditure. Bio-based raw materials, such as plant oils and natural resins, have a restricted supply chain compared to the abundant availability of fossil-based alternatives. The restriction in the supply chain has been mainly due to limited production arising from agricultural limitations.
Bio-based Paints and Coatings Market Segmentation
The study categorizes the Bio-based Paints and Coatings into various segments and sub-segments, each analyzed for its size, growth potential, and contribution to the overall industry.
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
The report presents detailed insights into the market’s geographical expansion, highlighting key trends and opportunities across the following geographies:
By Region
- North America
- South America
- Europe
- The Middle East & Africa
- Asia-Pacific.
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Leading Companies in Bio-based Paints and Coatings Market Worldwide: Players, Analysis & Future Outlook
- 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.
- Product Portfolio
- Strategic Alliances or Partnerships
- Recent Developments
- Financial Details
- Others
- Covestro AG
- Industrias Químicas Masquelack, S.A.
Key Highlights of the Report
- Comprehensive Market Overview: In-depth analysis of market size, share, and forecasts from 2024 to 2030.
- Growth Drivers & Challenges: Clear insights into factors feeling or restraining market expansion.
- Investment & Regulatory Insights: Evaluation of key policies, funding trends, and collaborations influencing industry performance.
- Competitive Landscape: Detailed profiles of leading companies, including product portfolios, business strategies, financials, and recent developments such as mergers & acquisitions.
Analytical Tools: Application of SWOT Analysis, PESTEL Analysis, and Porter’s Five Forces Model to assess competition and external influences
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Frequently Asked Questions (FAQ)
- What is the projected growth rate of the Bio-based Paints and Coatings?
2. What are the major factors driving this market’s growth?
3. Which regions are expected to lead the Bio-based Paints and Coatings?
4. Who are the prominent players in the Bio-based Paints and Coatings?
5. How is the competition structured in this market?
6. How can I access the full report?
About Us
MarkNtel Advisors is a premier market research and consulting firm specializing in the chemical industry, with expertise across specialty chemicals, petrochemicals, industrial chemicals, and chemical processing technologies. Our research solutions guide manufacturers, suppliers, and investors in tracking innovation, pricing trends, and sustainability initiatives. Through Custom Market Analysis, we deliver precise, business-specific intelligence, helping clients optimize production efficiency, manage volatility, and capture new opportunities within the global chemicals ecosystem.
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