New Study Predicts Growth in Market for Biopolymer Coatings
SHELBYVILLE, DE – According to a new research report released by Global Market Insights Inc., the market size for biopolymer coatings is set to exceed $1.3 billion by 2024.
A shift in consumer preference towards eco-friendly and cost-effective materials in the packaging industry should favor the market for biopolymer coatings, as they are derived alone or in combination with lipid, proteins and polysaccharides. Antioxidants, antimicrobial agents and pigments are added during the production process to improve product properties.
High flexibility, low oxygen, water vapor permeability, and rigid mechanical strength are key properties that should boost biopolymer coatings demand. Recyclable and biodegradable products generate less scrap materials and thereby enhance production processes.
The bio-polyamide coatings market size should witness gains at over 11%. These coatings have applications in the construction, automotive, and electrical industries, as well as general industry. Strict environmental regulations along with a rise in focus towards green and recyclable products will also stimulate industry growth.
The report predicts that the biobased PU coatings market for automotive applications could register close to 6% growth. These coatings are mainly used for basecoat formulations for automotive interior applications.
According to the report, the PLA biopolymer coatings market size in the United States will witness the highest gains at over 13%. Properties such as biodegradability, odor barriers for foodstuff, resistance to oil-based products, and seal-ability at lower temperatures should drive product demand. The food and beverage industry and the pharmaceutical industry in the United States will help to spur industry growth.
The biopolymer coatings market size in Europe should witness over 6% gains. Favorable regulatory support for naturally derived products in the food and beverage sector in France, UK and Germany should stimulate product demand. The European Commission passed the Horizon Strategy 2020, aiming to promote industrial development of ecofriendly and naturally derived ingredients.
In Germany, the natural wax-based biopolymer coatings market size may witness gains as high as 3%. These coatings are used as edible coatings for various fruits and vegetables to keep them fresh and healthy for a longer period.
In China, the soy protein coatings market size should register over 4% gains by 2024. These coatings are also used in the food and beverages and the general packaging industries due to their resistance to oil and gas and their ability to extend product shelf life.
The report predicts that starch-based biopolymer coatings could register close to 11.5% gains. Applications that in the general packaging and the pharmacy bags industry should drive product demand.
The PLA coatings market for food and beverage packaging applications may witness the highest gains, at close to 13.5%. These coatings are used for applications that include the packaging of fruits, vegetables, water, nuts and soup.
For additional information about the report, visit https://www.gminsights.com/industry-analysis/biopolymer-coatings-market.