The global demand for Green Coatings Market is presumed to reach the market size of nearly USD 116.84 MN by 2028 from USD 81.39 MN in 2021 with a CAGR of 5.3% under the study period of 2022 - 2028. Regarding volume, the market was calculated XX Kilo Tons in 2021 and forecast to touch XX Kilo Tons by 2028 with a CAGR of XX% during 2022-2028.
Green coatings refers to the environment-friendly coatings consisting of non-solvent borne technology and emit almost no volatile organic compounds during production. They are generally made by using natural ingredients such as vegetable oil, soybean, castor oil, milk, and clay etc. There are different options available in green coatings including water-based paints, high-solid paints, powder coatings and radiation-hardened coatings. Green coatings are prominently used in industries like construction, automotive, oil and gas, mining, aerospace, and marine etc. They assist in reducing the harmful effects of infrared and ultraviolet (UV) radiations and increase equipment's overall efficiency They also save the cost of removal, disposal and replacement.
Market Dynamics
The rising demand for waterborne and powder technology to replace solvent-borne coatings, especially in the architectural and automotive applications is the major driver driving the demand for green coatings market. Increasing government focus towards the environment is raising the use of eco-friendly products, thus surging the demand for this market. In addition, manufacturers are expected to invest in R&D to design new products with low cost, less drying time, superior water and chemical resistance to fulfill customer expectations. Innovations done by the automotive manufacturers to use powder and UV cured coatings in vehicle manufacturing are other reasons leading to increased demand for this market. Increasing stringent government regulations associated with VOC are further pushing the demand for this market.
The report covers Porter's Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis. These tools help to get a clear picture of the industry's structure and evaluate the competition attractiveness at a global level. Additionally, these tools also give an inclusive assessment of each segment in the global market of green coatings. The growth and trends of Green Coatings Industry provide a holistic approach to this study.
Market Segmentation
This section of the green coatings market report provides detailed data on the segments by analyzing them at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.
By Type
- Waterborne Coatings
- Powder Coatings
- High-Solids Coatings
- Radiation Cure Coatings
By Application
- Architectural Coatings
- Industrial Coatings
- Automotive Coatings
- Wood Coatings
- Packaging Coatings
- Other
Regional Analysis
This section covers the regional outlook, which accentuates current and future demand for the Green Coatings market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand, estimation, and forecast for individual application segments across all the prominent regions.
Global Green Coatings Market Share by Region (Representative Graph)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the green coatings market include Akzo Nobel NV, Arkema Group, Asian Paints Limited, Axalta Coating Systems Ltd., BASF SE, Berger Paints India Limited, Jotun A/S, Lifetime Green Coatings, PPG Industries, and The Sherwin-Williams Company. This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
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