China has been the driving force behind the rapid expansion of the bio-based coatings market in the Asia Pacific region. The advantages of shifting production to the region are the low cost of production and the ability to better cater to the emerging local markets.Īsia Pacific covers a vast region of the world which includes the largest and most dynamic economies such as China, Japan, South Korea, India, Australia, and Indonesia. Key players are expanding the production of paints and coatings in the Asia Pacific, especially in China and India. The development of the market is majorly attributed to the high economic growth rate followed by significant investments across industries such as automotive, consumer goods & appliances, building & construction, and furniture. Bio-based architectural paints and coatings help protect these structures with their properties, such as color and gloss retention, chemical and abrasion resistance, non-toxicity, and corrosion resistance.Īsia Pacific is forecasted to be the fastest-growing bio-based coatings market during the forecast period.Īsia Pacific encompasses a diverse range of economies with different levels of economic development and multiple industries.
Structures have different coating requirements in terms of esthetics and protective properties such as pollution, heavy foot traffic in public buildings, and regional climatic conditions (such as heavy rain and snow).
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