Green Coatings Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The Green Coatings Market is segmented By Type (Water-Borne, Powder, High-solids, and UV-cured coatings), Application (Architectural Coatings, Industrial Coatings, Automotive Coatings, Wood Coatings, Packaging Coatings, and Others), and Geography (Asia-Pacific, North America, Europe, South America, and Middle East & Africa)

Green Coatings Market Snapshot

Green Coatings Market Overview
Study Period: 2016 - 2026
Base Year: 2021
Fastest Growing Market: Asia Pacific
Largest Market: Asia Pacific
CAGR: >4 %
Green Coatings Market Major Players

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Market Overview

The market for green coatings is expected to grow at a CAGR of more than 4% during the forecast period. Major factors driving the market studied is stringent environmental regulations to control VOC emissions.

  • Augmenting demand for ultraviolet curing coating is likely to act as an opportunity.
  • Asia-Pacific dominated the market across the globe with the largest consumption in a country such as India, China, etc.

Scope of the Report

The green coatings market report includes:

Type
Water-Borne
Powder
High-solids
UV-cured coatings
Application
Architectural Coatings
Industrial Coatings
Automotive Coatings
Wood Coatings
Packaging Coatings
Others
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
Italy
France
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

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Key Market Trends

Water-borne Segment to Dominate the Market

  • The core reason for manufacturers to switch from solvent-borne coatings to water-borne coatings is the VOC released from solvent-borne coatings.
  • Also, other properties, like low odor, more durability, and block resistance, make water-borne coating a preferable option.
  • There are many regulations from several governments that support the use of water-based coatings.
  • REACH, a government initiative in Europe was adopted to improve human health and the environment and avoid the risks caused by chemicals, along with fueling up the competition in the European chemical industry.
  • Promoting alternative methods, for the hazard assessment of substances, in order to reduce tests on animals, is growing the demand for coatings with low VOC-content, such as water-borne green coatings.
Green Coatings Market key Trends

China to Dominate the Asia-Pacific Region

  • China has a market share of over 50% of the coatings demand in the region. The conversion of the paints and coatings manufacturers into service providers makes it a highly productive option.
  • The manufacturers are also providing the service of painting job as well; this is being done with the help of trained professionals, or contractors as partners.
  • The demand for green coatings is increasing at a faster rate in the region owing to increasing awareness for environment-friendly coatings and government initiatives. 
  • India is to grow at a faster rate than China, thus, providing new opportunities for the green coatings market.
  • Asia-Pacific has the largest construction market which is led by India, China, and various South-east Asian countries.
  • For instance, in India, the government initiated the project ‘Housing for All by 2022’, which is expected to immensely drive the low-cost residential construction segment in the country throughout the forecast period. Furthermore, under the Pradhanmantri Awas Yojana, the Indian government has taken a decision to provide interest subvention of 3% and 4% for loans of up to USD 18,000 and USD 13,500, respectively, for the lower strata of the society with respect to buying and building homes.
  • This, in turn, is likely to increase the demand for green coatings over the forecast period.
Green Coatings Market Growth Rate

Competitive Landscape

The green coatings market is partially consolidated. some of the major players include AkzoNobel N.V., Arkema Group, The Sherwin Williams Company, BASF SE, and PPG Industries Inc., amongst others. 

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Stringent Environmental Regulations to Control VOC Emissions

      2. 4.1.2 Others

    2. 4.2 Restraints

    3. 4.3 Industry Value-Chain Analysis

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Consumers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

  5. 5. MARKET SEGMENTATION

    1. 5.1 Type

      1. 5.1.1 Water-Borne

      2. 5.1.2 Powder

      3. 5.1.3 High-solids

      4. 5.1.4 UV-cured coatings

    2. 5.2 Application

      1. 5.2.1 Architectural Coatings

      2. 5.2.2 Industrial Coatings

      3. 5.2.3 Automotive Coatings

      4. 5.2.4 Wood Coatings

      5. 5.2.5 Packaging Coatings

      6. 5.2.6 Others

    3. 5.3 Geography

      1. 5.3.1 Asia-Pacific

        1. 5.3.1.1 China

        2. 5.3.1.2 India

        3. 5.3.1.3 Japan

        4. 5.3.1.4 South Korea

        5. 5.3.1.5 Rest of Asia-Pacific

      2. 5.3.2 North America

        1. 5.3.2.1 United States

        2. 5.3.2.2 Canada

        3. 5.3.2.3 Mexico

      3. 5.3.3 Europe

        1. 5.3.3.1 Germany

        2. 5.3.3.2 United Kingdom

        3. 5.3.3.3 Italy

        4. 5.3.3.4 France

        5. 5.3.3.5 Rest of Europe

      4. 5.3.4 South America

        1. 5.3.4.1 Brazil

        2. 5.3.4.2 Argentina

        3. 5.3.4.3 Rest of South America

      5. 5.3.5 Middle East & Africa

        1. 5.3.5.1 Saudi Arabia

        2. 5.3.5.2 South Africa

        3. 5.3.5.3 Rest of Middle East & Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share Analysis**

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 AkzoNobel N.V.

      2. 6.4.2 Arkema Group

      3. 6.4.3 Asian Paints Limited

      4. 6.4.4 Axalta Coating Systems, LLC

      5. 6.4.5 BASF SE

      6. 6.4.6 Berger Paints

      7. 6.4.7 DAW SE

      8. 6.4.8 Eastman Chemical Company

      9. 6.4.9 Evonik Industries

      10. 6.4.10 Hempel A/S

      11. 6.4.11 Jotun

      12. 6.4.12 Kansai Paint Company Limited

      13. 6.4.13 PPG Industries Inc.

      14. 6.4.14 RPM International Inc.

      15. 6.4.15 The Sherwin Williams Company

      16. 6.4.16 Tikkurila Oyj

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

    1. 7.1 Augmenting demand for Ultraviolet Curing Coating

**Subject to Availability

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Frequently Asked Questions

The Green Coatings Market market is studied from 2016 - 2026.

The Green Coatings Market is growing at a CAGR of >4% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

Asia Pacific holds highest share in 2021.

AkzoNobel N.V., Arkema Group, The Sherwin Williams Company, BASF SE, PPG Industries Inc. are the major companies operating in Green Coatings Market.

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