According to the latest report by IMARC Group, titled “Green Coatings Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027″ provide the global green coating market analysis reached a value of US$ 81.7 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 107.5 Billion by 2027, exhibiting a CAGR of 4.76% during 2022-2027. The report provides a detailed analysis of the market by region, type and application also, the report analyzes the market’s competitive landscape.
Base Year: 2020
Forecast Year: 2022-2027
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Green Coatings Market Industry Definition and Application:
Green coatings are environmentally friendly coatings that emit nearly no volatile organic compounds (VOCs) during the manufacturing process. These glazes are made from natural ingredients such as soybean, milk, vegetable oil, castor oil, clay, and so, on. High-solid paints, radiation-hardened coatings, water-based paints, powder coatings, and other popular product types including Green coatings help to improve overall equipment efficiency and reduce the negative impacts of infrared and ultraviolet (UV) radiations. As a result, they are widely used in a variety of industries, including automotive, mining, aerospace, construction, oil & gas, aviation, and maritime.
Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Green Coatings Market Trends and Drivers:
The expanding construction industry and elevating levels of industrialization are primarily driving the green coatings market. They are extensively used as protective and decorative paints on walls, panels, door frames, roofs, windows, interior extrusions, etc. Furthermore, the growing environmental awareness and the increasing demand for powder-based and waterborne coatings are catalyzing the market growth. As compared to the conventionally used solvent-borne coatings, these variants are block resistant, VOC-free, not harmful for human health, etc. Moreover, numerous product innovations, including the introduction of radiation curable coatings, are contributing to the market growth. They are produced using plant-based sources and are processed under ultraviolet (UV) radiations or low energy electrons (EB). Besides this, the implementation of favorable government policies to promote sustainability is expected to bolster the market growth in the coming years.
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Green Coatings Market Segmentation:
The report has segmented the market on the basis on region, type, and application.
Breakup by Type:
- High Solid
- UV Cured
Breakup by Application:
- Architectural Coatings
- Industrial Coatings
- Automotive Coatings
- Wood Coatings
- Packaging Coatings
Breakup by Region:
North America:( United States, Canada)
Asia-Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
Latin America: (Brazil, Mexico,Others)
Middle East and Africa
Who are the Major Green Coatings Market Key players?
The report provides a detailed analysis of the market leaders, including.
Akzo Nobel N.V., Asian Paints Limited, Axalta Coating Systems Ltd., BASF SE, Hempel A/S, Jotun, Kansai Paint Co. Ltd., Koninklijke DSM N.V., Nippon Paint Holdings Co. Ltd., PPG Industries Inc and The Sherwin-Williams Company.
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