Green Coatings Market was valued US$ 85 Bn by 2017 and is estimated to reach approximately US$ 150 Bn by 2026 at a CAGR of about 7 % during a forecast period. Objective of manufacturer behind green coating is to introduce eco-friendly Coating s to the market such as waterborne coatings, powder coatings. Manufacturers are focused to produce high-performance coatings that have non-solvent borne technology and zero or minimum VOC (Volatile organic component) with good durability. VOCs are the harmful components present in solvent borne coatings that forms ground-level ozone and urban smog resulting in various health hazards such as dizziness, headache, kidney damage. Increasing stringent government regulations concerned with VOC is expected to propel demand. Rising demand for waterborne and powder coating to substitute solvent borne coatings especially in the industrial and automotive application is expected to drive Green Coatings Market growth.
Based on coating type, Green Coatings Market can be fragmented into waterborne coatings, powder coatings, high-solids coatings, and radiation cure coatings. High solids coating fragment is dominating the Green Coatings Market followed by powder coating. High solids coatings are generally considered more environmentally friendly than other conventional coatings because less solvent is emitted during curation. Power coating is about to gain a popularity in a Green Coatings Market. Based on application Green Coatings Market is sectionised into architectural coatings, industrial coatings, automotive coatings, wood coatings, packaging coatings, and other coatings. At present architectural section dominates green coatings market followed by automotive and industrial segments. Architectural section will continue its dominance during the forecast period. Also automotive and industrial segments are anticipated to expand at a rapid space during the forecast period. In terms of geography Green Coatings Market is segmented into North America, Europe, Asia Pacific, Middle East & Africa and Latin America. North America region dominate green coatings market due to rapid growth in construction activities. Number of housing and commercial activity rate has increased in this region after the recovery of crisis which will boost the industry growth. Europe green coatings market constitute one third of a market. Europe region expected to witness exponential growth owning to rise in architectural and automotive industries in this. Increased number of marine activities in the region will further support the industry growth. Asia-Pacific is the fastest growing region for green coatings market due to increasing population and growth in automotive and architechtural sector, owing to emerging economies that are China, India and Japan. Some of the key players involved in the Green Coatings Market are Eastman Chemical Company, AkzoNobel, PPG Industries, Jotun, Kansai Paint, Nippon Paint, Axalta Coating Systems, BASF SE, Valspar Corporation, Sherwin-Williams, and Royal DSM, Masco Corporation, Rpm International Inc., Tikkurila OYJ, Chimar Hellas S.A., Walter Wurdack Inc., and GLOBAL Encasement, Inc., Sherwin Williams Company, Axalta Coating System, BASF.
The Scope of the Green Coatings Market:
Green Coatings Market By Coatings Type:
• Waterborne Coatings • Powder Coatings • High-Solids Coatings • Radiation Cure Coatings
Green Coatings Market By Application Type:
• Architectural • Industrial • Automotive • Wood • Packaging • Other
Green Coatings Market By Region:
• Asia Pacific • Europe • North America • Middle East & Africa • Latin America
Key Players Analysed in the Green Coatings Market:
• AkzoNobel • PPG Industries • Jotun • Kansai Paint • Nippon Paint • Axalta Coating Systems • BASF SE • Valspar Corporation • Sherwin-Williams • Royal DSM • Masco Corporation • Rpm International Inc • Tikkurila OYJ • Chimar Hellas S.A. • Walter Wurdack Inc. • GLOBAL Encasement, Inc. • Arkema SA • DAW SE • Eastman Chemical Company
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Report Published by: Maximize Market Research
