Green Coatings Market by Technology (Waterborne, Powder, High-solids, Radiation-Cure), Application (Architectural, Automotive, Industrial, High-Performance, Wood, Packaging, Product Finishes) and Region - Global Forecast to 2027

Green Coatings Market by Technology (Waterborne, Powder, High-solids, Radiation-Cure), Application (Architectural, Automotive, Industrial, High-Performance, Wood, Packaging, Product Finishes) and Region - Global Forecast to 2027

The Green coatings market is projected to grow from USD 123.6 Billion in 2022 to USD 155.9 Billion by 2027, at a CAGR of 4.8% between 2022 and 2027. The restraints related to the use of Green coatings market is availability and cost of specialized raw materials needed for green coatings.

“ Architectural segment is estimated to be the largest segment of the Green coatings market.”

Various structures on which coatings are applied have different types of requirements in terms of aesthetics and protective properties. These can include pollution, heavy foot traffic in public buildings, and regional climatic conditions (such as heavy rain and snow). Architectural paints and coatings help protect these structures with their properties, such as color and gloss retention, chemical and abrasion resistance, non-toxicity, and corrosion resistance. There is an interest in alternative of raw materials, the quality, performance, and cost of architectural coatings, where green coatings come into picture. Different development activities have led to various green building blocks becoming available for use in powder coating resins which, with careful formulation, can deliver the required performance. There is also a drive for green solutions with some paint companies which are specializing in these solutions.

“Asia Pacific is forecasted to be the fastest-growing Green coatings market during the forecast period.”

The strong growth in the Asia Pacific region is mainly attributed to the high economic growth rate, followed by heavy investment across different application areas, such as automotive, consumer goods & appliances, building & construction, and furniture. Owing to the low cost of production and the ability to better serve the local emerging market, manufacturers are shifting their base to the region. The region is witnessing an increased demand for high-end cars due to the increasing purchasing power of consumers. Similarly, large-scale investments in the automobile sector in the region are driving the demand for green coatings.

Extensive primary interviews have been conducted, and information has been gathered from secondary research to determine and verify the market size of several segments and sub-segments.

Breakdown of Primary Interviews:

By Company Type: Tier 1 – 46%, Tier 2 – 36%, and Tier 3 – 18%

By Designation: C Level – 18%, D Level – 27%, and Others – 55%

By Region: Asia Pacific – 55%, North America – 18%, Europe – 9%, South America-9%, and the Middle East & Africa – 9%

The key companies profiled in this report are AkzoNobel N.V. (Netherlands), PPG Industries (US), Axalta Coating Systems (US), BASF SE (Germany), and The Sherwin-Williams Company (US).

Research Coverage:

Green Coatings Market by Technology (Waterborne, Powder, High-solids, Radiation-Cure), Application (Architectural, Automotive, Industrial, High-Performance, Wood, Packaging, Product Finishes) and Region (North America, Europe, Asia Pacific, South America, and Middle East & Africa).

Reasons to Buy the Report

From an insight perspective, this research report focuses on various levels of analyses — industry analysis (industry trends), market share analysis of top players, and company profiles, which together comprise and discuss the basic views on the competitive landscape; emerging and high-growth segments of the market; high growth regions; and market drivers, restraints, opportunities, and challenges.

The report provides insights on the following pointers:

Market Penetration: Comprehensive information on Green coatings offered by top players in the market

Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the market

Market Development: Comprehensive information about lucrative emerging markets – the report analyzes the market for Green coatings across regions

Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the market

Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of leading players in the market.