LONDON--(BUSINESS WIRE)--Technavio’s latest market research report on the global biopolymer coatings market provides an analysis of the most important trends expected to impact the market outlook from 2018-2022. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
According to Technavio analysts, the global biopolymer coatings market will grow at a CAGR of over 6% during the forecast period, owing to the growing demand for bio-based and eco-friendly polymers.
There is an increasing awareness among consumers about the importance of eco-friendly and sustainable products they purchase. Also, the regulations that check and monitor the impact of products on the environment are driving the biopolymers coating market in developed regions.
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The emerging market trends driving the global biopolymer coatings market according to Technavio research analysts are:
- Rising investments in R&D
- Potential use of biopolymers based nanocomposites
Rising investments in R&D
In recent years, the investments in R&D activities have increased significantly. The major players in the market are investing extensively in R&D to discover cost-effective and technologically advanced production processes. They are also investing in R&D activities to diversify their product portfolio to gain the top spot and produce high-performance products for niche applications.
According to a senior analyst at Technavio for plastics, polymers, and elastomers research “Novel applications of biopolymer as barrier coatings for paper applications, barrier films for food packaging, decking, and many others are constantly being explored. For instance, some bio-based polymers such as starch, cellulose, polylactic acid, soy protein, and zein corn protein are extensively used in the modification of coated paper and in packaging for food products. They also resist oil and moisture in food products. It has resulted in the higher adoption of biopolymers for newer applications.”
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Global biopolymer coatings market segmentation
This market research report segments the global biopolymer coatings market into the following product segments (nitrocellulose, cellulose esters, starch, natural wax, PLA, Bio PA, and others) and three major regions (Americas, APAC, and EMEA)
The nitrocellulose segment held the largest market share in 2017, accounting for over 26% of the market. However, the market share for this application is expected to decrease nearly 2% by 2022. The fastest growing application is PLA, which will account for close to 10% of the total market share by 2022.
EMEA was the leading region for the global biopolymer coatings market in 2017, accounting for a market share of over 44%. However, the market share of EMEA and the Americas is expected to decrease over the forecast period, while APAC will increase.
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