Green Coating Market Size, Share, Demand & Trends by 2033
According to the research report published by Future
Market Insights, the global green coatings market is projected to be
worth US$ 131.27 billion in 2023. It is likely to reach a valuation of US$
213.83 billion by 2033. The market is anticipated to showcase an average CAGR
of 5% from 2023 to 2033. The increasing awareness and emphasis on adopting
sustainable solutions are expected to boost market growth during the forecast
period.
Green coatings are environmentally friendly and emit
low or no volatile organic compounds during manufacturing. Since green coatings
emit only seldom VOCs, they are suitable for a wide range of applications
across several industries including construction, automotive, aerospace, oil
& gas, mining, maritime, and others. The mushrooming demand for zero VOC
coatings across these industries is predicted to significantly contribute to
the market’s expansion.
Drivers and challenges have an impact on
market dynamics, which can impact businesses. Find more insights in a sample
report: https://www.futuremarketinsights.com/reports/sample/rep-gb-17026
The increasing infrastructural development across
developing nations such as India, Brazil, China, Italy, and others is expected
to create lucrative growth opportunities. The increasing product demand in
industrial and automotive applications across these nations is likely to create
high demand for waterborne green coatings. Additionally, the rising
construction industry is expected to foster growth in the market. Green
coatings are used in construction activities as they uplift indoor air quality
and promote healthier living and working environments. They are applied on
panels, windows, roofs, interior extrusions, and walls as decorative and
protective paints.
The rising innovations and developments in production
methods are expected to boost market development in the coming years. The development
of green coatings with improved properties, such as increased adhesion,
durability, and weather resistance, is predicted to generate higher revenues.
Furthermore, the increasing implementation of government regulations in the
coatings industry is expected to bode well for the market. Several nations have
implemented regulations and certifications, such as Leadership in Energy &
Environmental Design (LEED), to limit the use of VOCs and promote
environmentally friendly coatings.
Key Takeaways from Green Coatings Market:
- The
green coatings market expanded at a CAGR of 4.8% from 2018 to 2022.
- The
global market size stood at nearly US$ 102.85 billion in 2018.
- In
2022, the market witnessed significant growth, accounting for US$ 125.02
billion in 2022.
- The
waterborne technology segment in green coatings is poised to garner a huge
market share.
- The
automotive industry is likely to be a huge contributor to the escalating
green coatings demand.
- The
green coatings market in Asia Pacific is expected to expand swiftly during
the forecast period. India is likely to be the frontrunner in the Asia
Pacific region.
To Gain More Insights about this Research,
Visit @ https://www.futuremarketinsights.com/reports/green-coatings-market
Key Players in the Market
- The
Sherwin-Williams Company
- Nippon
Paint Holdings Co. Ltd.
- Koninklijke
DSM N.V.
- Kansai
Paint Co. Ltd.
- BASF
SE
- Jotun
- Akzo
Nobel N.V.
- Asian
Paints Limited
- Axalta
Coating Systems Ltd.
- Hempel
A/S
Market Segmentation
Market by Technology:
- Radiation-cure
Green Coatings
- High-solids
Green Coatings
- Powder
Green Coatings
- Waterborne
Green Coatings
Market by Application:
- Green
Coatings in Product Finishes
- Green
Coatings in Packaging
- Green
Coatings in Wood
- High-performance
Green Coatings
- Industrial
Green Coatings
- Automotive
Green Coatings
- Architectural
Green Coatings
Market by Region:
- North
America Market
- Europe
Market
- Asia
Pacific Market
- Latin
America Market
- Middle
East & Africa Market
Recent Developments Observed by FMI:
- Nippon
Paint China and BASF partnered in August 2022 to launch Joncryl HPB. It is
the first water-based barrier coating that BASF has introduced for use in
industrial packaging in China.
- In
August 2021, Dulux, a brand of AkzoNobel, introduced a USDA-certified super-premium
interior emulsion in India. It is India’s first paint made from
biomaterials that purify indoor air.
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