Green Coatings Market to Reach US$ 107.5 Billion | CAGR 4.76%
The global green coatings market 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
According to the latest report by IMARC Group, titled “Green Coatings Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027″ The global green coatings market size 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.
Green coatings are environment-friendly paints that release almost zero volatile organic compounds (VOCs) during the production process. Some commonly available variants include high solid, powder, water-based, and UV cured. Green coatings are manufactured by utilizing naturally sourced mediums, such as soybean, castor oil, milk, vegetable oil, clay, etc. These paints reduce the adverse effects of ultraviolet (UV) and infrared radiations and improve the overall efficiency of the equipment. As a result, green coatings find widespread applications across various sectors, including construction, automotive, oil and gas, mining, aviation, architecture, industrial, aerospace, marine, etc.
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Green Coatings Market Trends and Drivers:
The escalating demand for these paints in the construction industry to be used for walls, panels, windows, roofs, door frames, interior extrusions, etc., to protect and decorate them is primarily driving the green coatings market. Besides this, the increasing product requirement in several consumer goods, such as dryer drums, rooftop heating, oven components, ventilation, electronic boxes, furniture, fixtures, etc., is further augmenting the market growth. Apart from this, the elevating innovations by leading manufacturers, including the development of radiation-curable coatings using low energy electrons (EB), are also catalyzing the global market. Moreover, the growing environmental consciousness among the masses and the rising need for powder-based and water-borne paints that are block resistant and VOC-free, compared to the traditionally used solvent-borne materials, are expected to bolster the green coatings market in the coming years.
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Green Coatings Market Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
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.
The report has segmented the market on the basis on type, deployment, application and vertical.
The report has segmented the market on the basis on region, type and application.
Breakup by Type:
Breakup by Application:
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
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Key highlights of the report:
Market Performance (2016-2021)
Market Outlook (2022- 2027)
Porter’s Five Forces Analysis
Market Drivers and Success Factors
Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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