Bio based Inks & Coatings Market

Bio based Inks & Coatings Market registered a revenue of USD 10.9 billion in 2022 and is projected to reach USD 22.9 billion in 2030, growing at a CAGR of 9.7% during the forecast period from 2023-2030

Bio based Inks & Coatings Market Overview

The bio-based coatings are articulated with “green” chemicals which are low or zero VOC content. The major shift of consumer behaviour from the traditional coatings to the newer bio-based coatings can be credited to the advanced benefits of low VOC products. These benefits include low toxicity, low groundwater and ozone depletion pollutants, easy maintenance, reduced odor, low carbon footprint and easy disposal.

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Bio based Inks & Coatings Market Drivers

Society is becoming ever more environmentally aware as sustainable products and solutions start to encroach on both public and private perceptions. There is huge interest in renewable raw materials. And, as in many other industrial sectors, this is setting the agenda for the paints and surface coatings industry. For instance, Akrema announced in 2018 new project for the production of polyamide in China by the end of 2020, which has helped the market in gaining the The development of “green” products currently features prominently across the paints and coatings industry. The industry is working on solutions to further cut down on the use of hazardous products, which affects the human and environment. As a result, the demand for bio-based coatings is on the rise. Volumes of bio-based solvents are following a similar upward trajectory, which has significantly helped in changing the landscape of the market.  Citric acid is bio-based chemical, which is used as an emulsifier, acidulant, preservative, flavorant, and buffering and chelating agent and is commonly utilized throughout industries especially in pharmaceutical, nutraceutical and cosmetic products.

Low emissions with optimal performance have spurred the sales of bio-based coatings and this demand is not likely to decline anytime soon. Manufacturers of bio-based coatings are increasingly investing in research and development initiatives to foster product development in a seamless manner. For instance, National Science Foundation, funds for startup, is developing safe and renewable pigments from algae, for making black pigment, by the algae bioproducts industry so that each algal cell encapsulates pigment. Long term resolutions of substantial reduction of CO2 emissions is also one of the key driving forces boosting growth of bio-based coatings market. Presently, the increasing regulatory pressure on reducing the use of mineral oil-based coatings, is one of the main drivers of bio-based coatings market. Green chemical technology is to play a bigger role in the development of bio-based coatings.

Restraint in the Bio Based Inks and Coatings Market

However, high prices associated with the products coupled with unavailability of the raw-material are the hampering factor for the market, which may affect the forecast period growth.

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Application – Segment Analysis

Based on the application, paints and coatings is expected to grow at a higher CAGR in the market over the forecast period. This is due to the rising construction and manufacturing activities globally which has led to the major expansion of the market. In addition, bio-based inks is also used in printing of pharmaceutical industry, which can be easily scanned and is non-hazardous at the time, which also meets the European Safety standards and has elevated the growth of the market.

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Regional – Segment Analysis:

Based on the regional coverage, Asia-Pacific is witnessed to grow at a higher CAGR in the market over the forecast period. China is one of the fastest-growing economies globally and almost all the end-user industries, China is one world’s largest producer of furfuryl alcohol as stated by IEA, which is one of the most used bio-based chemicals. In addition, mostly citric acid producers are in China, which has led to the increase in production from 0.5 to more than 2 million tonnes becoming the single largest chemical obtained via biomass fermentation and the most widely employed organic acid, leading to the expansion of the market in the region.

Top Market Players

Various notable players operating in the market, include, Archer Daniels Midland Company (ADM), Bio Brands LLC, BioAmber Inc, Cargill Incorporated, Corbion NV, Cremer Oleo GmbH & Co. Kg, Dow, Elevance Renewable Sciences Inc., Florachem Corporation, Florida Chemical Company, among others. 

Key Developments:

• • In 2020, Cargill Incorporated, announced that the company invested US 15 million in new bio industrial plant for manufacturing paints and coatings, which has led to the expansion of the product portfolio.

Segments covered in the Report:

The global bio-based inks and coatings market has been segmented on the basis of type, application, and regions. Based on type, the market is segmented into bio-alcohols, bio-glycols, bio-diols, ethyl lactate, D-limonene, methyl soyate, and others. Based on application, the market is segmented into paints and coatings, industrial and domestic cleaning, printing Inks, adhesives and sealants, pharmaceutical, cosmetics, agriculture, and others. 

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Report Coverage	Details
Market Revenues (2022)	USD 10.9 billion
Market Base Year	2022
Market Forecast Period	2023-2030
Base Year & Forecast Units	Revenues (USD billion)
Market Segment	By Type, By Application, By Region
Regional Coverage	Asia Pacific, Europe, North America, and RoW
Companies Profiled	Archer Daniels Midland Company (ADM), Bio Brands LLC, BioAmber Inc, Cargill Incorporated, Corbion NV, Cremer Oleo GmbH & Co. Kg, Dow, Elevance Renewable Sciences Inc., Florachem Corporation, Florida Chemical Company, among others; a total of 10 companies covered.
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation

Global Bio Based Inks and Coatings Market by Type

• • Bio-alcohols
  • Bio-glycols
  • Bio-diols
  • Ethyl Lactate
  • D-limonene
  • Methyl Soyate
  • Others

Global Bio Based Inks and Coatings Market by Application

• • Paints and Coatings
  • Industrial and Domestic Cleaning
  • Printing Inks
  • Adhesives and Sealants
  • Pharmaceutical
  • Cosmetics
  • Agriculture
  • Others

Global Bio Based Inks and Coatings Market by Region

• • North America Bio Based Inks and Coatings Market (Option 1: As a part of the free 25% customization)

    • by Type
    • by Application
    • US Market All-Up
    • Canada Market All-Up

  • Europe Bio Based Inks and Coatings Market (Option 2: As a part of the free 25% customization)

    • by Type
    • by Application
    • UK Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up

  • Asia-Pacific Bio Based Inks and Coatings Market (Option 3: As a part of the free 25% customization)

    • by Type
    • by Application
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up

  • RoW Bio Based Inks and Coatings Market (Option 4: As a part of the free 25% customization)

    • by Type
    • by Application
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Major Players Operating in the Bio Based Inks and Coatings (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Archer Daniels Midland Company (ADM)
  • Bio Brands LLC
  • BioAmber Inc
  • Cargill Incorporated
  • Corbion NV
  • Cremer Oleo GmbH & Co. Kg
  • Dow
  • Elevance Renewable Sciences Inc.
  • Florachem Corporation
  • Florida Chemical Company