PUBLISHER: The Business Research Company | PRODUCT CODE: 1641643
PUBLISHER: The Business Research Company | PRODUCT CODE: 1641643
Bio-based coatings are coatings derived from biomaterials, reducing reliance on scarce fossil resources. These coatings contribute to addressing social challenges and can support rural development and employment. They serve as raw materials for producing bio-based solvents, including resins, additives, and pigments made from renewable sources.
There are various types of bio-based coatings, such as ester solvents, d-limonene, alcohols, glycols and diols solvents, among others. Ester solvents, for instance, are chemical compounds with at least one acid, where the hydroxyl group has been replaced with a -o-alkyl (alkoxy) group. These solvents have applications in corrosion-prevention paints, caffeine extraction, and lacquer production. VOC content in coatings is categorized into zero VOC (less than 5 grams per liter), low VOC (less than 50 grams per liter), and VOC-absorbing, with applications in decorative paints, transportation, industrial coatings, automotive refinishing, wood coatings, marine coatings, coil coatings, packaging coatings, and more. These coatings find use in the commercial, industrial, and residential sectors, covering internal and external applications.
The bio-based coating market research report is one of a series of new reports from The Business Research Company that provides bio-based coating market statistics, including bio-based coating industry global market size, regional shares, competitors with a bio-based coating market share, detailed bio-based coating market segments, market trends and opportunities, and any further data you may need to thrive in the bio-based coating industry. This bio-based coating market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The bio-based coatings market size has grown rapidly in recent years. It will grow from $9.99 billion in 2024 to $11.7 billion in 2025 at a compound annual growth rate (CAGR) of 17.0%. The growth in the historic period can be attributed to infection prevention, biocompatibility, advanced drug delivery, performance enhancement, regulatory compliance:.
The bio-based coatings market size is expected to see rapid growth in the next few years. It will grow to $21.19 billion in 2029 at a compound annual growth rate (CAGR) of 16.0%. The growth in the forecast period can be attributed to nanotechnology advancements, minimally invasive surgery, remote monitoring, personalized medicine, biodegradable solutions. Major trends in the forecast period include antimicrobial coatings, drug-eluting coatings, biocompatible coatings, hydrophilic coatings, anti-adhesion coatings.
Growing awareness in society regarding environmentally responsible products is expected to drive the growth of the bio-based coatings market in the future. Environmentally friendly products are designed to cause less environmental degradation during their production and use. Bio-based coatings are utilized for paper packaging items, such as paper cups and plates, to create waterproof, sustainable, recyclable, compostable, and biodegradable products. For example, in January 2024, a report from Kelley Blue Book, a US-based company under Cox Automotive, revealed that in 2023, a record 1.2 million car buyers in the United States opted for electric vehicles, representing 7.6% of the total U.S. vehicle market, an increase from 5.9% in 2022. Therefore, the rising societal awareness of environmentally responsible products is driving the growth of the bio-based coatings market.
The increasing popularity of electric vehicles (EVs) is expected to drive the growth of the bio-based coating market in the coming years. An electric vehicle is a type of automobile that uses one or more electric motors powered by electricity stored in an onboard battery pack. Manufacturers of EVs are increasingly seeking sustainable and eco-friendly materials for various components, including coatings. Bio-based coatings, which are derived from renewable resources, align well with the environmentally conscious image of electric vehicles. For example, in January 2024, a report from Kelley Blue Book, a US-based company under Cox Automotive, indicated that in 2023, a record 1.2 million car buyers in the United States opted for electric vehicles, making up 7.6% of the total U.S. vehicle market, an increase from 5.9% in 2022.
In response to the growing market demand, major companies operating in the bio-based coating market are developing innovative products such as food packaging coatings. These coatings, applied to the surfaces of food packaging materials, serve various protective, functional, and aesthetic purposes. For example, Melodea Ltd., an Israel-based coating producer, launched MelOx NGen in July 2023-a new bio-based food packaging coating. This product, derived from plants and composed of water-based materials, is designed to be applied as a coating on the interior surfaces of various types of plastic food packaging. It offers an eco-friendly and economical alternative to petroleum-based Ethyl Vinyl Alcohol copolymers (EVOH) commonly used in food packaging. MelOx NGen contributes to sustainable practices in consumer packaged goods (CPG) packaging, aligning with the growing demand for environmentally friendly solutions.
Major companies within the bio-based coating market are innovating and introducing new products, such as bio-based monomer coatings, to cater to broader customer bases, increase sales, and drive revenue growth. Bio-based monomer coatings are derived from renewable and sustainable sources, such as plant-based or bio-derived feedstocks. A notable example is BASF, a Germany-based chemical company, which launched bio-based 2-Octyl Acrylate in September 2023. This product stands out due to its balanced solvency, offering a viable bio-based alternative to fossil-based monomers like 2-Ethylhexyl Acrylate (2-EHA) and n-Butyl Acrylate (BA). The 2-Octyl Acrylate is suitable for use in adhesive formulations and coating applications, demonstrating enhanced scrub resistance in coatings, shear resistance in adhesives, and exceptional weather resistance. BASF's 2-Octyl Acrylate is recognized for its exceptional purity, ensuring consistently high quality, low volatile organic compounds (VOC), and providing customers with flexibility across a wide range of applications.
In January 2022, Cargill, a US-based multinational agribusiness and food corporation, acquired Croda's bio-based industrial business for an undisclosed amount. This acquisition aims to expand Cargill's bioindustrial footprint and enhance its ability to offer sustainable solutions for industrial manufacturers. Croda is a UK-based chemical manufacturing company that focuses on producing high-performance specialty chemicals and ingredients derived from natural materials. The company operates in several key sectors, including personal care, where it provides innovative ingredients for cosmetics, skincare, and hair care products with a strong emphasis on sustainability. In the healthcare sector, Croda supplies essential solutions for pharmaceuticals, medical devices, and nutritional supplements.
Major companies operating 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.
North America was the largest region in the bio-based coating market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the bio-based coating market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the bio-based coating market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.
The bio-based coatings market consists of sales of limonene, ethanol, glycerol, and 2-methyltetrahydrofuran (2-MeTHF). Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Bio-Based Coatings Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on bio-based coatings market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for bio-based coatings ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The bio-based coatings market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.