Bio-based coating materials are environmentally friendly and play an important role in coating and sustainability. Increasing use of green products in the coating industry is one of the megatrends forecasting demand for bio-based coatings during the forecast period. Bio-based coatings are categorized into internal and external applications.
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Increasing demand for bio-based coating materials in a variety of end-use industries such as automotive, wood, paper, construction and construction, and food packaging is a key driver expected to boost the growth of the global bio-based coating market. is. In addition, increased industrialization, infrastructure development, and urbanization will have a positive impact on market growth during the forecast period. The rise of government initiatives will also support the growth of the global bio-based coatings market. In addition , increasing demand from end-use industries in developing countries is expected to drive regional market growth in the near future. In addition, the growing building and construction sector in emerging economies is expected to support the growth of the bio-based coating market during this forecast timeline.
The availability of alternatives is a major constraint that is expected to impede the growth of the global bio-based coating market over the forecast period.
The global bio-based coating market is divided into applications such as internal applications and external applications by content VOCs such as zero VOCs, low VOCs, absorbent VOCs and natural paints. In addition, the market is divided into end applications such as automotive, wood, paper, construction and construction, and food packaging.
In addition, the global bio-based coating market is divided into five regions including North America, Latin America, Europe, Asia Pacific, Middle East & Africa.
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Major players in the market
BASF SE, AURO Pflanzenenchemie AG, Benjamin Moore & Co., Cargill Incorporated, BioShields , Nippon Paint Holdings Co., Ltd., NOROO Paint & Coatings Co., Ltd , Reliance Industries Ltd., I. duPont de Nemours and Company, etc.
However, the global bio-based coating market is highly fragmented and it is an ongoing fierce competition due to the presence of various established names competing for the top spot. Target markets are also witnessing the invasion of new entrants challenging established names with tactical movements such as product innovation and new product portfolios. Large companies are addressing these challenges by developing their own collaborations, mergers, acquisitions, and other strategies. The Global Bio-Based Coating Market Report also keeps an eye on the region to understand demographic characteristics.
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