Biopolymer Coatings Market

Market Synopsis:

The Global Biopolymer Coatings Market is valued at USD 1,062.4 Billion in the year 2021 and is anticipated to reach a value of USD 1,440 Billion by the year 2028. The Global Market is forecasted to grow to exhibit a Compound Annual Growth Rate (CAGR) of 5.2% over the forecast period.

Biopolymer Coatings are used as coatings for multiple applications and they facilitate the prevention of unwanted moisture transfer in various end-use industries. The use of paper packaging is anticipated to see a reduction as the adoption of Biopolymer Coatings picks up pace across the world. The increasing popularity of sustainability is expected to increase the use of Biopolymer Coatings as they are eco-friendly. Rising consumer awareness for eco-friendly products is anticipated to further bolster Biopolymer Coatings Market potential across the forecast period. Increasing innovations and rising investments in research and development of novel coatings are projected to drive demand for Biopolymer Coatings through 2028.

Stringent government mandates to regulate environment conservation across the world are expected to foster new demand for Biopolymer Coatings and create a highly lucrative setting for Biopolymer Coatings manufacturers. Increasing use in food packaging is expected to majorly influence Biopolymer Coatings Market potential. Characteristic properties of high chemical resistance, fire resistance, etc. are expected to further boost the Biopolymer Coatings Market growth over the forecast period.

Market Segmentation:

The Biopolymer Coatings Market is segmented on the basis of Product, End-User Industry and Region. Based on the End-User Industry the market is further sub- segmented as Packaging, Food & Beverages, Automotive, Construction, Textile, Healthcare Equipment, and Other End Users. Based on Product, the market is further sub- segmented as Bio Polyurethane (PU) Coating, Bio Polyamide (PA) Coatings, Bio Polybutylene Succinate (PBS) Coatings, Cellulose Esters, Wax Coatings, Soy Protein Coatings, and Corn Zein Protein Coating.

Based on End-User Industry:

On the basis of End-User Industry, the market is sub- segmented as Packaging, Food & Beverages, Automotive, Construction, Textile, Healthcare Equipment, and Other End Users. The Packaging industry is anticipated to significantly drive the Biopolymer Coatings Market growth across the forecast period. Increasing focus on sustainability in the Packaging industry will favor sales of Biopolymer Coatings in this industry. Rising consumer demand for eco-friendly Packaging is anticipated to boost the adoption of Biopolymer Coatings through 2028 via this industry. Rising demand for packaged foods is also expected to drive sales of Biopolymer Coatings in the Food & Beverage industry vertical.

Based on the Product:

On the basis of Product, the market is further sub- segmented into Bio Polyurethane (PU) Coating, Bio Polyamide (PA) Coatings, Bio Polybutylene Succinate (PBS) Coatings, Cellulose Esters, Wax Coatings, Soy Protein Coatings, and Corn Zein Protein Coating. The Bio Polyurethane (PU) Coatings sub- segment is anticipated to account for a major market share and is projected to maintain this stance over the forecast period as well. Easy availability, biodegradability, and low costs are characteristic properties that drive demand for PU coatings. Increasing application in the pharmaceutical and food industries will drive Biopolymer Coatings Market potential through 2028.

North America Region Dominates the Biopolymer Coatings Market with the Largest Share

North America Biopolymer Coatings Market is expected to be the most prominent market across the world. In 2021, the Biopolymer Coatings Market in this region accounted for a market share of 37.2% and held a net worth of USD 395.2 Billion in 2021. The high demand for packaging and packaged foods in this region is expected to positively influence the Biopolymer Coatings Market potential. A rising focus on sustainability and increased use of green materials is expected to bolster demand for Biopolymer Coatings in this region. The United States and Canada are anticipated to be the most notable markets in this region throughout the forecast period. Rising demand for packaged foods and a flourishing food and beverage industry in this region is anticipated to further boost Biopolymer Coatings Market potential through 2028. The market for Biopolymer Coatings in the Asia Pacific region is anticipated to rise at the fastest Compound Annual Growth Rate (CAGR) over the forecast period.

Competitive Landscape:

The key players in the Global Biopolymer Coatings Market include- AkzoNobel N.V., Archer Daniels Midland (ADM), BASF SE, Cargill Inc., Corbion, DuPont, EcoSynthetix, NatureWorks LLC, Novamont S.P.A, Roquette Group, Safepack Industries Ltd., WestRock Company and others.

Segmentation of the Global Biopolymer Coatings Market: