Paints & coatings are applied on a surface of an object for protection, decoration or other purposes. According to the European Commission, paint is defined as a pigmented coating material. Conventional paints & coatings are manufactured using synthetic chemicals, while bio-based paints & coatings are made from bio-based materials such as vegetable oils & natural […]
Market Insights on Bio-based Paints and Coatings by Region and Application
Paints & coatings are applied on a surface of an object for protection, decoration or other purposes. According to the European Commission, paint is defined as a pigmented coating material. Conventional paints & coatings are manufactured using synthetic chemicals, while bio-based paints & coatings are made from bio-based materials such as vegetable oils & natural pigments. Companies are adopting bio-based paints & coatings owing to various advantages offered by bio-based paints & coatings. Greenhouse gases emitted during production of bio-based paints & coatings are lower than synthetic paints & coatings. Synthetic paints & coatings contain solvents which are made from volatile organic compounds (VOCs). VOCs have negative impact on human health and also contribute to climate change whereas bio-based paints & coatings contain fewer VOCs or zero VOCs.
Regulations imposed on the limited use of volatile organic solvents for manufacturing of paints & coatings have encouraged manufacturers to develop new technologies in paints & coatings market. Manufacturers are focused on producing new coatings that meet the performance expectations and also the stringent environmental regulations. For instance, the U.S. Environmental Protection Agency (EPA) through National Volatile Organic Compound Emission Standards for Architectural Coatings aims to limit the Volatile Organic Compounds (VOCs) emissions from the use of architectural coatings. The rule is estimated to reduce VOC emissions by 113,500 tons per year. This factor is expected to drive market growth of the bio-based paints & coatings.
Top Key Players in Bio-based Paints & Coatings market: Sherwin-Williams Company, Produits MAULER, Derivery Sas, SCSO UNIKALO, AURO Pflanzenenchemie AG, PPG Industries, Inc., Eco Safety Products, Ralston Colour & Coatings, NDUSTRIA CHIMICA ADRIATICA SpA, and Tikkurila Oyj.
Regional Analysis:
Besides segmental breakdown, the report is highly structured into region wise study. The regional analysis comprehensively done by the researchers highlights key regions and their dominating countries accounting for substantial revenue share in the Bio-based Paints & Coatings market. The study helps understanding how the market will fare in the respective region, while also mentioning the emerging regions growing with a significant CAGR. The following are the regions covered in this report.
- North America [U.S., Canada, Mexico]
- Europe [Germany, UK, France, Italy, Rest of Europe]
- Asia-Pacific [China, India, Japan, South Korea, Southeast Asia, Australia, Rest of Asia Pacific]
- South America [Brazil, Argentina, Rest of Latin America]
- Middle East & Africa [GCC, North Africa, South Africa, Rest of Middle East and Africa]Regulations imposed on the limited use of volatile organic solvents for manufacturing of paints & coatings have encouraged manufacturers to develop new technologies in paints & coatings market. Manufacturers are focused on producing new coatings that meet the performance expectations and also the stringent environmental regulations. as an example , the U.S. Environmental Protection Agency (EPA) through National Volatile compound Emission Standards for Architectural Coatings aims to limit the Volatile Organic Compounds (VOCs) emissions from the utilization of architectural coatings. The rule is estimated to scale back VOC emissions by 113,500 tons per annum . This factor is predicted to drive market growth of the bio-based paints & coatings.
Companies are investing in R&D to develop innovative products which have resulted in substantial growth of the bio-based paints & coatings market. as an example , in 2017, PPG Industries, Inc. launched a replacement bio-based wall paint, Sigma Air Pure, for consumer and professional markets. The new paint is developed by using DSM’s Decovery bio-based resin technology. The Decovery resins are made by using renewable sources like starch from corn, sugar, natural oils, and agricultural waste.
Among regions, Asia Pacific is expected to be fastest-growing region in bio-based paints & coating market over the forecast period. Increasing government investments in developing corporate and commercial infrastructures is expected to potentially drive demand for decorative paints. This in turn is expected to drive market growth of the bio-based paints & coatings market. For instance, the Indian government has decided to increase investments in the infrastructure sector. For example, in 2015, the Indian Ministry of Road Transport, Highways and Shipping announced a target of US$ 376.53 Bn investment in infrastructure sector by 2018. This, in turn, creates a highly conducive environment for growth of the bio-based paints and coatings market.
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