Green Coatings Market Sales, Share Analysis, Market Growth Forecast, 2020–2027

 An increase in the demand for waterborne and powder technologies for the replacement of solvent-borne coatings are driving the market demand.

Market Size – USD 138.54 Billion in 2019, Market Growth - CAGR of 6.3%, Market Trends –Increased demand from developing nations.

The global Green Coatings Market is forecast to reach USD 219.24 Billion by 2027, according to a new report by Reports and Data. The market is finding applications in the developed as well as developing nations owing to the increasing environmental regulations. The continuous growth in concern regarding the impact of the volatile organic compounds on the environment has led environment agencies to force manufacturers to reduce their VOC content in their product. Thus, there is an increase in demand for green coatings from end-users.

The increasing application of these types of coatings in architecture is also encouraging demand. Major factors encouraging the growth of the market in developing nations are increasing government support for the extension of urban development and a rise in the standard of living, which in turn increases the demand for safe and comfortable living and rising population. Factors affecting the green coatings are the rising price for raw material, and their volatility is expected to hinder the market growth. Furthermore, the raw material industry of the green coating market is on the verge of consolidation that intensify the bargaining power of suppliers and affects the market growth negatively.

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Major Companies Operating in the industry and profiled in the report are:

• PPG Industries,
• BASF SE,
• The Sherwin-Williams Company,
• AkzoNobel N.V.,
• Kansai Paint Company Limited,
• The Valspar Corporation,
• Nippon Paint Company Ltd.,
• Arkema SA,
• Asian Paints Limited,
• and Evonik Industries,
• among others.

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Type Outlook (Revenue, USD Billion; 2017-2027)

• Powder
• Water-Borne
• UV-cured coatings
• High-solids

Application Outlook (Revenue, USD Billion; 2017-2027)

• Industrial Coatings
• Wood Coatings
• Architectural Coatings
• Packaging Coatings
• Automotive Coatings
• Others

The regional analysis covers:

• North America (U.S., Canada, Mexico)
• Europe (U.K., Italy, Germany, France, Rest of EU)
• Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
• Latin America (Chile, Brazil, Argentina, Rest of Latin America)
• Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

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Further key findings from the report suggest

• Waterborne coatings are forecasted to hold a market share of 72.9% in the year 2027. These types of coatings are beneficial to the environment. It meets the United States and European regulations regarding volatile organic compound (VOC) emission. Waterborne coatings produce VOC content of fewer than 3.5 pounds per gallon.
• Auto manufacturers, for the past few years, are switching to paints with lower VOCs in an effort to ensure worker safety as well as reduce the environmental effects of the coatings. While the EPA regulates the level of VOC from the automotive manufacturing industries and auto body shops, there are still no federal standards or regulations that can regard the paint product themselves as "low-VOC."
• A large number of non-profit organizations such as Greenguard and Green Seal, which conduct thorough evaluations and award "green labels" to manufacturers that pass their stringent guidelines.
• In China, the Volatile organic compounds (VOC) legislation for wood coatings is propelling the demand for conversion from solvent-borne Nitrocellulose (N.C.) or P.U. Technology to U.V. technology and waterborne. The Asia Pacific region is anticipated to grow with the highest CAGR of 7.0% in the coming years.

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