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.
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.
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The increasing application of these types of coatings in architecture is also encouraging demand. Major factors encouraging the growth of the market in developing nations are increasing government support for the extension of urban development and a rise in the standard of living, which in turn increases the demand for safe and comfortable living and rising population. Factors affecting the green coatings are the rising price for raw material, and their volatility is expected to hinder the market growth. Furthermore, the raw material industry of the green coating market is on the verge of consolidation that intensify the bargaining power of suppliers and affects the market growth negatively.
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.
The comprehensive analysis of the Green Coatings market assists businesses in gaining a competitive advantage and helps them reach their business goals and objectives. The global Green Coatings market research report is formulated with the descriptive profiles of the leading companies of the market along with their pricing analysis, gross revenue, financial standing, sales network and distribution channel, profit margins, and market position. This offers the readers a complete understanding of the competitive landscape of the Green Coatings industry.
The Green Coatings research report draws focus on the strengths and weaknesses of the key players of the market through a comprehensive SWOT analysis and Porter’s Five Forces analysis to project the growth rate.
The global Green Coatings market report further segments the market based on product types offered by the market, applications, and key geographies of the market. The research study assesses the market in terms of market size, volume, revenue, and share.
Furthermore, the report also offers an accurate assessment of the market share and customer base of the Green Coatings market in the major geographical regions of the world. The report also analyzes the growth of the individual segments of the Green Coatings industry throughout the forecast period.
Type Outlook (Revenue, USD Billion; 2017-2027)
- UV-cured coatings
Application Outlook (Revenue, USD Billion; 2017-2027)
- Industrial Coatings
- Wood Coatings
- Architectural Coatings
- Packaging Coatings
- Automotive Coatings
Distribution Channel Outlook (Revenue, USD Billion; 2017-2027)
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Green Coatings market segmentation by geographical regions, the report has analysed the following regions-
North America (USA, Canada and Mexico)
Europe (Germany, France, UK, Russia and Italy)
Asia-Pacific (China, Japan, Korea, India and Southeast Asia)
South America (Brazil, Argentina, Columbia etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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.
In conclusion, the report offers an extensive panoramic view of the Green Coatings industry, backed by key statistical data and figures garnered from authentic sources and thorough primary and secondary research. The report offers a thorough examination of the size, shape, and volume of the market to offer an accurate forecast estimation of the Green Coatings industry till 2027. The report also strives to offer strategic recommendations to the new players entering the Green Coatings industry and guide them for overcoming entry-level barriers. It also offers recommendations to the established companies to fortify their presence in the Green Coatings market and capitalize on the emerging opportunities in the industry.
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