The global Green Coatings Market is forecast to reach USD 219.24 Billion by 2027, according to a new report by Reports and Data. The market is finding applications in the developed as well as developing nations owing to the increasing environmental regulations. The continuous growth in concern regarding the impact of the volatile organic compounds on the environment has led environment agencies to force manufacturers to reduce their VOC content in their product. Thus, there is an increase in demand for green coatings from end-users.
The Asia Pacific region will experience the fastest CAGR due to increased government involvement for the development and beautification of infrastructure, which will positively impact market growth. India, China, and Japan are significantly contributing to the increasing demand of the market in the region.
Additionally, it discusses effective plans and development strategies, with tables and figures helping analyze worldwide Green Coatings market, this research provides key statistics on the state of the industry and is a valuable source of guidance and direction for companies and individuals interested in the market.
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Further key findings from the report suggest
- Waterborne coatings are forecasted to hold a market share of 72.9% in the year 2027. These types of coatings are beneficial to the environment. It meets the United States and European regulations regarding volatile organic compound (VOC) emission. Waterborne coatings produce VOC content of fewer than 3.5 pounds per gallon.
- Auto manufacturers, for the past few years, are switching to paints with lower VOCs in an effort to ensure worker safety as well as reduce the environmental effects of the coatings. While the EPA regulates the level of VOC from the automotive manufacturing industries and auto body shops, there are still no federal standards or regulations that can regard the paint product themselves as “low-VOC.”
- A large number of non-profit organizations such as Greenguard and Green Seal, which conduct thorough evaluations and award “green labels” to manufacturers that pass their stringent guidelines.
- In China, the Volatile organic compounds (VOC) legislation for wood coatings is propelling the demand for conversion from solvent-borne Nitrocellulose (N.C.) or P.U. Technology to U.V. technology and waterborne. The Asia Pacific region is anticipated to grow with the highest CAGR of 7.0% in the coming years.
- Key participants include PPG Industries, BASF SE, The Sherwin-Williams Company, AkzoNobel N.V., Kansai Paint Company Limited, The Valspar Corporation, Nippon Paint Company Ltd., Arkema SA, Asian Paints Limited, and Evonik Industries, among others.
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/green-coatings-market
For the purpose of this report, Reports and Data have segmented the global Green Coatings Market on the basis of type, application, distribution channel, and region:
Type Outlook (Revenue, USD Billion; 2017-2027)
- Powder
- Water-Borne
- UV-cured coatings
- High-solids
Application Outlook (Revenue, USD Billion; 2017-2027)
- Industrial Coatings
- Wood Coatings
- Architectural Coatings
- Packaging Coatings
- Automotive Coatings
- Others
Distribution Channel Outlook (Revenue, USD Billion; 2017-2027)
- Online
- Offline
Regional Outlook (Revenue, USD Billion; 2017-2027)
- North America
- U.S
- Canada
- Europe
- Germany
- UK
- France
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- MEA
- Saudi Arabia
- UAE
- Rest of MEA
Conclusively, all aspects of the Green Coatings market are quantitatively as well qualitatively assessed to study the global as well as regional market comparatively. This market study presents critical information and factual data about the market providing an overall statistical study of this market on the basis of market drivers, limitations and its future prospects.
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