Green Coatings Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 4.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Green Coatings Market Analysis
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.
Green Coatings Market Trends
This section covers the major market trends shaping the Green Coatings Market according to our research experts:
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 greencoatings.
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 Industry Overview
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.
Green Coatings Market Leaders
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AkzoNobel N.V.
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Arkema Group
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The Sherwin Williams Company
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BASF SE
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PPG Industries Inc.
*Disclaimer: Major Players sorted in no particular order
Green Coatings Market Report - Table of Contents
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1. INTRODUCTION
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1.1 Study Assumptions
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1.2 Scope of the Study
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2. RESEARCH METHODOLOGY
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3. EXECUTIVE SUMMARY
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4. MARKET DYNAMICS
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4.1 Drivers
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4.1.1 Stringent Environmental Regulations to Control VOC Emissions
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4.1.2 Others
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4.2 Restraints
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4.3 Industry Value-Chain Analysis
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4.4 Porter's Five Forces Analysis
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4.4.1 Bargaining Power of Suppliers
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4.4.2 Bargaining Power of Consumers
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4.4.3 Threat of New Entrants
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4.4.4 Threat of Substitute Products and Services
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4.4.5 Degree of Competition
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5. MARKET SEGMENTATION
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5.1 Type
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5.1.1 Water-Borne
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5.1.2 Powder
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5.1.3 High-solids
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5.1.4 UV-cured coatings
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5.2 Application
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5.2.1 Architectural Coatings
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5.2.2 Industrial Coatings
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5.2.3 Automotive Coatings
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5.2.4 Wood Coatings
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5.2.5 Packaging Coatings
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5.2.6 Others
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5.3 Geography
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5.3.1 Asia-Pacific
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5.3.1.1 China
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5.3.1.2 India
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5.3.1.3 Japan
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5.3.1.4 South Korea
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5.3.1.5 Rest of Asia-Pacific
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5.3.2 North America
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5.3.2.1 United States
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5.3.2.2 Canada
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5.3.2.3 Mexico
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5.3.3 Europe
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5.3.3.1 Germany
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5.3.3.2 United Kingdom
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5.3.3.3 Italy
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5.3.3.4 France
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5.3.3.5 Rest of Europe
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5.3.4 South America
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5.3.4.1 Brazil
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5.3.4.2 Argentina
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5.3.4.3 Rest of South America
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5.3.5 Middle East & Africa
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5.3.5.1 Saudi Arabia
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5.3.5.2 South Africa
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5.3.5.3 Rest of Middle East & Africa
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6. COMPETITIVE LANDSCAPE
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6.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements
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6.2 Market Share Analysis**
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6.3 Strategies Adopted by Leading Players
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6.4 Company Profiles
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6.4.1 AkzoNobel N.V.
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6.4.2 Arkema Group
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6.4.3 Asian Paints Limited
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6.4.4 Axalta Coating Systems, LLC
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6.4.5 BASF SE
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6.4.6 Berger Paints
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6.4.7 DAW SE
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6.4.8 Eastman Chemical Company
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6.4.9 Evonik Industries
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6.4.10 Hempel A/S
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6.4.11 Jotun
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6.4.12 Kansai Paint Company Limited
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6.4.13 PPG Industries Inc.
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6.4.14 RPM International Inc.
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6.4.15 The Sherwin Williams Company
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6.4.16 Tikkurila Oyj
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- *List Not Exhaustive
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7. MARKET OPPORTUNITIES AND FUTURE TRENDS
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7.1 Augmenting demand for Ultraviolet Curing Coating
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Green Coatings Industry Segmentation
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 | |||||||
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Green Coatings Market Research FAQs
What is the current Green Coatings Market size?
The Green Coatings Market is projected to register a CAGR of greater than 4% during the forecast period (2024-2029)
Who are the key players in Green Coatings Market?
AkzoNobel N.V., Arkema Group, The Sherwin Williams Company, BASF SE and PPG Industries Inc. are the major companies operating in the Green Coatings Market.
Which is the fastest growing region in Green Coatings Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Green Coatings Market?
In 2024, the Asia Pacific accounts for the largest market share in Green Coatings Market.
What years does this Green Coatings Market cover?
The report covers the Green Coatings Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Green Coatings Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Green Coatings Industry Report
Statistics for the 2024 Green Coatings market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Green Coatings analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
