What were the Historic and Current Market Sizes in the Bio-Based Coatings Market?
The Bio-Based Coatings Market has seen remarkable increment in its size in the recent years.
• It burgeoned from $9.99 billion in 2024 to $11.7 billion in 2025, showcasing a CAGR of 17.0%.
The growth in the historic period stemmed from factors including infection prevention, biocompatibility, advanced drug delivery, performance enhancement, and regulatory compliance.
What is the Projected Market Size and CAGR for the Bio-Based Coatings Market?
The next few years spell a swift growth forecast for the bio-based coatings market.
• It's expected to reach $21.19 billion in 2029, racing at a CAGR of 16.0%.
This escalation is ascribed to advancements in nanotechnology, minimally invasive surgery, remote monitoring, personalized medicine and biodegradable solutions, along with trends, such as antimicrobial coatings, drug-eluting coatings, biocompatible coatings, hydrophilic coatings, and anti-adhesion coatings.
What are the Key Growth Drivers in the Bio-Based Coatings Market?
Rising cognizance about environmentally friendly products is a main accomplice in the growth of the bio-based coatings market. These products, including bio-based coatings, are less harmful to the environment, finding applications in paper packaging products like paper cups or plates and are used to produce waterproof, sustainable, recyclable, compostable, and bio-degradable products. For example, in 2023, Kelley Blue Book reported 1.2 million car purchasers in the U.S. chose electric vehicles, marking 7.6% of the entire vehicle market, an increase from 5.9% in 2022.
What is the Segmentation of the Bio-Based Coatings Market?
The bio-based coatings market has categorized into different segments:
1) By Type: Ester Solvents, D-Limonene, Alcohols, Glycols And Diols Solvents, Other Types
2) By VOC Content: Zero VOC (VOC Content Less Than 5 Grams Per Liter), Low VOC (VOC Content Less Than 50 Grams Per Liter), VOC Absorbing, Natural Paints
3) By Sector: Commercial Sector, Industrial Sector, Residential Sector
4) By Use: Decorative Paints, Transportation, Metal Industrial Coatings, Industrial Maintenance And Protective, Powder Coatings, Automotive Refinish, Wood Coatings, Marine Coatings, Coil Coatings, Packaging Coatings
5) By Area Of Application: Internal Application, External Application
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What are the Emerging Trends in the Bio-Based Coatings Market?
Key market players are innovating and launching new products like food packaging coatings to meet larger customer bases and drive sales and revenue. For example, Melodea Ltd. Introduced MelOx NGen, an eco-friendly, plant-based coating solution for various types of plastic food packaging, providing an economical alternative to EVOH.
Who are the Key Players in the Bio-Based Coatings Market?
The major players in the bio-based coatings market include:
• Benjamin Moore & Co.
• Eco Safety Products
• BASF SE
• Cargill Incorporated
• AkzoNobel N.V.
• PPG Industries Inc.
• The Sherwin-Williams Company
• Nippon Paint Holdings Co. Ltd.
• Stora Enso OYJ
• BioShields
• KCC Paints Sdn Bhd
• NOROO Paint & Coatings Co. Ltd
• Reliance Industries Ltd.
• Jiangsu Heshili New Material Co. Ltd.
• Lotte Chemical Corporation
• SK Chemicals Co. Ltd.
• Asahi Kasei Corporation
• Axalta Coating Systems
• Behr Paint Co.
• Hempel A/S
• Jotun A/S
• Kansai Paint Co. Ltd.
• Tikkurila Oyj
• Valspar Corporation
• Bollom Fire Protection
• Chugoku Marine Paints Ltd.
• Cloverdale Paint Inc.
• Diamond Vogel Inc.
What are the Leading and Fastest-Growing Regions in the Bio-Based Coatings Market?
In 2024, North America served as the largest region in the bio-based coating market while Asia-Pacific holds promise as the fastest-growing one. Other regions covered in the report include Western Europe, Eastern Europe, South America, the Middle East, and Africa.
