Rapid shift from synthetic polymers to bio-based polymers will have positive influence on the biopolymer coatings industry outlook. Paper coatings made from biopolymers are gaining significant momentum worldwide as they offer recycling and biodegradation. The growing environmental concerns associated with waste disposal and the increasing carbon footprint are also driving the inclination towards biodegradable polymers. To that end, bio-based polymers have emerged as green alternatives to conventional plastic materials. Furthermore, the production of polymers using renewable feedstocks, such as waste biomass is enabling users to reduce waste and emission of fossil carbon.
Biopolymer coatings market revenue from the nitrocellulose product segment is poised to reach USD 570 million by 2032. The thriving demand for nitrocellulose coatings can be credited to their widespread usage in wood and furniture due to their ability to facilitate multi-layer coating in combination with colors. They are easily repairable and provide certain level of softness and warmth to wood structures for making vintage and aesthetic furniture designs. Nitrocellulose coatings are also widely preferred to provide auto and timber finishes and for landscaping gardens and constructing decks on roofs. The rising disposable incomes, increasing rate of residential construction, and the growing spending on renovation and refurbishment are expected to propel the demand for nitrocellulose coatings.
Nitrocellulose biopolymer coatings market from flooring applications is slated to register 7.2% CAGR between 2023 and 2032. Coatings play a key role in barrier-free concrete floors across industrial settings as they offer an array of benefits, such as resistance to abrasion and the ability to withstand heavy loads. Additionally, bio-based epoxy resins are gaining tremendous traction as biodegradable coating solutions for their anti-slip coating capabilities. In the recent past, construction activities including residential, commercial, and industrial establishments, across the globe have increased dramatically, propelling flooring needs and further adding to the market expansion.
Europe biopolymer coatings market size is estimated to cross USD 666.5 million by 2032. The presence of stringent government norms and supportive policies are compelling the adoption of energy-efficient technologies. Government bodies in the EU are catalyzing energy transition to achieve ambitious net zero emission targets, thus fostering lucrative demand for biopolymer coatings in the region. Furthermore, the expanding food & beverage sector in the U.K., Italy, France, and Germany is augmenting the requirement for biodegradable packaging materials, offering new business prospects for the regional players.
AkzoNobel N.V., BASF SE, Archer Daniels Midland (ADM), Cargill Inc., DuPont, Corbion, Danimer Scientific, Evonik Industries, EcoSynthetix, Meredian Holdings Group (MHG), NatureWorks LLC, Mitsubishi Chemical Corporation, Novamont S.p.A, Safepack Industries Ltd, Roquette Group, and WestRock Company are some of the leading companies in the global biopolymer coatings market. These players are entering strategic agreements and collaborations to expand their customer base.
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