Bio-based Paints and Coatings Market Size, Share, Growth and Trends, Value, Forecast (2024-2030)

The latest report by MarkNtel Advisors, titled “Bio-based Paints and Coatings Market” Size study report 2024-30 provides an in-depth examination of revenue growth, market definition, segmentation, industry potential, and influential trends to help comprehend the market’s future outlook and existing prospects. Bio-based Paints and Coatings Market Share, Size, and Industry Analysis. By Resin Type (Alkyd Resin, Polyurethane Resin, Acrylic Resin, Others), By Application (Architectural, Automotive, Woodworking, Packaging, Others), By Region (North America, South America, Europe, The Middle East & Africa, Asia-Pacific). 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.

Key Highlights of the Market Report:

Detailed overview of the market share
Changing market dynamics of the industry
In-depth market segmentation
Historical, current and projected market size in terms of volume and value
Recent industry trends and developments
Competitive landscape of Bio-based Paints and Coatings Market
Strategies of key players and product offerings
Potential and niche segments/regions exhibiting promising market growth

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Global Bio-based Paints and Coatings Market Challenge:

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.

Furthermore, the limited availability of bio-based raw materials and the need to develop and scale up production processes using these feedstocks require substantial investments. This includes specialized equipment, research and development efforts, and infrastructure enhancements, all of which contribute to higher capital expenditures. Thus, the higher prices of bio-based options have affected their sales in certain price-sensitive markets such as Egypt, South Africa, the Philippines, Cambodia, etc.

Bio-based Paints and Coatings Market Segmentation

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

By Region

-North America

-South America

-Europe

-The Middle East & Africa

-Asia-Pacific

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Major Key Players in Bio-based Paints and Coatings Market research report:

Tremco CPG Inc.

-Business Description

-Product Portfolio

-Strategic Alliances or Partnerships

-Recent Developments

-Financial Details

-Others

Cortec Coporation

-Business Description

-Product Portfolio

-Strategic Alliances or Partnerships

-Recent Developments

-Financial Details

-Others

Baril Coatings B.V.

-Product Portfolio

-Strategic Alliances or Partnerships

-Recent Developments

-Financial Details

-Others

Covestro AG

-Product Portfolio

-Strategic Alliances or Partnerships

-Recent Developments

-Financial Details

-Others

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About MarkNtel Advisors

MarkNtel Advisors is a leading research, consulting, & data analytics firm that provides an extensive range of strategic reports on diverse industry verticals. We deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, & individuals, among others.

Our specialization in niche industries & emerging geographies allows our clients to formulate their strategies in a much more informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, & trend analysis, among others, for 15 diverse industrial verticals.

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We understand the mounting & diverse needs of our clients. Hence, our analysts focus on emerging industries to provide services that fulfilled their assessment of the current & future industry potential, identify white spaces & hotspots, & venture into new geographies or business segments in the future.