Archive for December 31st, 2012
The global coatings market is expected to reach $107 billion by 2017, according to a 2012 study by Global Industry Analysts. Reporting on the study, the Adhesives & Sealants Industry trade journal says by 2017 the industry is expected to be producing 8.7 billion gallons of product. Key drivers of growth in the market are the global economic rebound, rapid industrialization in emerging economies and increased demand from such sectors as automotive and construction.
As is the case with the other markets for bio-based products I’ve discussed in previous articles, perhaps the most compelling environmental driver behind biopolymer adoption in the coatings business is a reduction in greenhouse gas (GHG) emissions for the lifecycle of the product. Adhesives & Sealants Industry says there has been a “recent demand spike for environmentally friendly coatings,” leading formulators to invest in “technological advancement in the area of non-hazardous chemical feedstocks.” (See my previous pieces on bio-based materials in the packaging and automotive industries and in the market for disposable materials.) Read the rest of this entry »