July 28th, 2021
Global Bio Based Inks & Coatings Market
The GMI Research forecasts that the Bio Based Inks & Coatings Market is witnessing an upsurge in demand over the forecast period. This is mainly due to the intensification of the food & beverages industry and expansion in health care.
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Introduction of the Bio Based Inks & Coatings Market
The bio-based coatings are attached with "green" chemicals which have low VOC content. The major switch of consumer behavior from the conventional coatings to the newer bio-based is attributed to the beneficial benefits of low VOC products.
Key Players of the Global Bio Based Inks & Coatings Market:
· Archer Daniels Midland Company (ADM)
· Bio Brands LLC
· Cargill Incorporated
· BioAmber Inc
· Cremer Oleo GmbH & Co. Kg
· Corbion NV
· Florida Chemical Company
· Elevance Renewable Sciences Inc.
· Florachem Corporation
Bio Based Inks & Coatings Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
With the increasing awareness and recognition towards environment many industrial sectors including paints and surface coatings are opting for renewable raw materials. For example, Akrema declared the launch of new project for the production of polyamide in China by the end of 2020, which assisted the development of “green” products currently features prominently across the paints and coatings industry. The industry is therefore working on solutions to restrict the use of dangerous products, which influences the human and environment, and is paving the way for Bio Based Inks & Coatings industry’s growth. In addition, the amplifying volumes of these solvents and the surging investments in research and development to nurture product development in a simplified manner accompanied by their low discharge and better performance will strengthen the Bio Based Inks & Coatings market size. National Science Foundation, endowments for startup, is introducing safe and renewable pigments from algae, to make black pigment, by the algae bioproducts industry so that each algal cell encapsulates pigment. Long term resolutions of extensive reduction of CO2 emissions, the rising regulatory pressure to decrease the usage of mineral oil-based coatings and the growing prominence green chemical technology are other drivers stimulating the market growth. Citric acid is bio-based chemical, used as an emulsifier, acidulant, preservative, flavorant, and buffering and chelating agent, commonly utilized throughout industries especially in pharmaceutical, nutraceutical and cosmetic products. As per the Bio Based Inks & Coatings market forecast, inflated prices of product and the lack of availability of the raw-material will hinder the market growth.
Application Segment Drivers
Based on the application, paints and coatings will expand significantly due to the enlargement of construction and manufacturing activities globally. In addition, these inks are also used in the printing of the pharmaceutical industry, which can be easily scanned and is non-hazardous to meet the European Safety standards.
Based on the regional coverage, Asia-Pacific is expected to hold a significant share in the near future. In accordance with the IEA, China, the fastest-growing economies, account for being the largest producer of furfuryl alcohol. Moreover, almost all citric acid producers are in China, which raised the production from 0.5 to over 2 million tonnes, becoming the single largest chemical obtained through biomass fermentation and the most extensively applied organic acid, contributing to the market growth.
Bio Based Inks & Coatings Market Segmentation:
Segmentation by Type
· Ethyl Lactate
· Methyl Soyate
Segmentation by Application
· Paints and Coatings
· Industrial and Domestic Cleaning
· Printing Inks
· Adhesives and Sealants
Segmentation by Region:
· North America
o United States of America
· Asia Pacific
o Rest of APAC
o United Kingdom
o Rest of Europe
o South Africa
o Saudi Arabia
o Rest of the world (remaining countries of the LAMEA region)
About GMI Research
GMI Research is a market research and consulting company that offers business sights and market research reports for every enterprise, including small & medium enterprises and large organizations. Our research team helps the clients to understand the impact of market dynamics such as market size, share, drivers, growth opportunities, and other aspects. We have a team of analysts and industry experts who conduct market intelligence studies to ensure relevant and fact-based research across a wide range of sectors such as FMCG, Technology, Energy, Healthcare, and other industries. We collect relevant information about the industry using both internal and external databases. Our main focus is to keep our clients abridged of the emerging opportunities and challenges in a wide range of industries. We provide step-by-step assistance to our client through strategic and consulting services to reach a managerial and actionable decision. Featured in the ‘Top 20 Most Promising Market Research Consultants’ list of Silicon India Magazine in 2018, we at GMI Research are always looking forward to helping businesses stay ahead of the curve.
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