Green Coatings Market Size (2024 - 2029)

The green coatings market is anticipated to experience growth driven by stringent environmental regulations aimed at controlling VOC emissions. The market size is influenced by the increasing demand for ultraviolet curing coatings, presenting potential opportunities for expansion. The Asia-Pacific region leads in market consumption, with significant activity in countries like India and China.

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Market Size of Green Coatings Industry

Green Coatings Market Summary
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

Green Coatings Market Major Players

*Disclaimer: Major Players sorted in no particular order

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 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
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
Italy
France
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa
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Green Coatings Market Size Summary

The green coatings market is poised for significant growth, driven by stringent environmental regulations aimed at controlling VOC emissions. This shift is prompting manufacturers to transition from solvent-borne to water-borne coatings, which offer benefits such as low odor, enhanced durability, and block resistance. The demand for ultraviolet curing coatings presents additional opportunities for market expansion. The Asia-Pacific region leads the global market, with countries like China and India at the forefront of consumption. This dominance is attributed to the region's large construction market and increasing awareness of environmentally friendly coatings, supported by government initiatives.

In China, the market holds a substantial share, with manufacturers evolving into service providers, thereby enhancing productivity. The Indian market is expected to grow rapidly, fueled by government projects like 'Housing for All by 2022' and financial incentives under the Pradhanmantri Awas Yojana, which aim to boost low-cost residential construction. These initiatives are anticipated to drive the demand for green coatings in the region. The market is partially consolidated, with key players including AkzoNobel N.V., Arkema Group, The Sherwin Williams Company, BASF SE, and PPG Industries Inc., who are instrumental in shaping the competitive landscape.

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Green Coatings Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Drivers

      1. 1.1.1 Stringent Environmental Regulations to Control VOC Emissions

      2. 1.1.2 Others

    2. 1.2 Restraints

    3. 1.3 Industry Value-Chain Analysis

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Bargaining Power of Suppliers

      2. 1.4.2 Bargaining Power of Consumers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products and Services

      5. 1.4.5 Degree of Competition

  2. 2. MARKET SEGMENTATION

    1. 2.1 Type

      1. 2.1.1 Water-Borne

      2. 2.1.2 Powder

      3. 2.1.3 High-solids

      4. 2.1.4 UV-cured coatings

    2. 2.2 Application

      1. 2.2.1 Architectural Coatings

      2. 2.2.2 Industrial Coatings

      3. 2.2.3 Automotive Coatings

      4. 2.2.4 Wood Coatings

      5. 2.2.5 Packaging Coatings

      6. 2.2.6 Others

    3. 2.3 Geography

      1. 2.3.1 Asia-Pacific

        1. 2.3.1.1 China

        2. 2.3.1.2 India

        3. 2.3.1.3 Japan

        4. 2.3.1.4 South Korea

        5. 2.3.1.5 Rest of Asia-Pacific

      2. 2.3.2 North America

        1. 2.3.2.1 United States

        2. 2.3.2.2 Canada

        3. 2.3.2.3 Mexico

      3. 2.3.3 Europe

        1. 2.3.3.1 Germany

        2. 2.3.3.2 United Kingdom

        3. 2.3.3.3 Italy

        4. 2.3.3.4 France

        5. 2.3.3.5 Rest of Europe

      4. 2.3.4 South America

        1. 2.3.4.1 Brazil

        2. 2.3.4.2 Argentina

        3. 2.3.4.3 Rest of South America

      5. 2.3.5 Middle East & Africa

        1. 2.3.5.1 Saudi Arabia

        2. 2.3.5.2 South Africa

        3. 2.3.5.3 Rest of Middle East & Africa

Green Coatings Market Size FAQs

The Green Coatings Market is projected to register a CAGR of greater than 4% during the forecast period (2024-2029)

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.

Green Coatings Market Report Snapshots

Green Coatings Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)