The global green
coatings market is expected to reach USD 209.2 billion by 2025,
according to a new report by Grand View Research, Inc. The market is expected
to witness a CAGR of 6.9% over the forecast period, Owing to Increasing product
penetration in construction and automotive application to replace high VOC
emitting solvent based coatings is likely to drive industry growth.
The industry is highly competitive owing to the
presence of several international players including PPG Industries, AkzoNobel
NV, Sherwin-Williams, Evonik Industries and Eastman Chemical Company. These
players are focusing on increasing their share along with profitability through
product innovation, R&D activities, mergers, and acquisition.
Strong foothold of the existing players, extensive
product offerings and wide geographical reach is expected to be the key barrier
for the emerging manufacturers. The majority of the industry players are
integrated across the value chain in order to reduce their dependency on the
raw material suppliers and increase profitability.
Browse full research report on Green Coatings Market: https://www.grandviewresearch.com/industry-analysis/green-coatings-market
Further
key findings from the report suggest:
- Waterborne technology dominated the industry in 2016 and is likely
to grow at a CAGR of 6.8% from 2017 to 2025 owing to its rising consumer
preference towards environmental friendly products in architectural and
automotive applications
- Powder technology is expected to grow at CAGR of 7.2% from 2017 to
2025, on account of its superior properties including zero VOC, superior
corrosion resistance, reduced drying time and high-quality finish
- In 2016, automotive application for UV cured technology accounted
for 23.4% and is expected to grow at a significant rate owing to rising
product demand for manufacturing sunroof seals, window seals, and paint
touch up applications
- Asia Pacific accounted for 33.4% of overall green coatings market
share in 2016 and is expected to grow at the fastest rate owing to rapid
growth of automotive construction industry in economies including India
and China
- Europe has been a major consumer for waterborne paints owing to the
stringent government regulation, early adoption of the technology and high
consumer awareness regarding the product benefits
- Initiatives taken by the industry players to manufacture
environmentally friendly products in order to comply with regulatory norms
including EU’s VOC Regulation 2004/42/EC and U.S. EPA’s Clean Act is
expected to propel industry growth
- In July 2017, AkzoNobel acquired Flexcrete Technologies Ltd. And
Disa Technology in order to expand the company business in aerospace,
industrial and automotive coatings. In addition, the company acquired
industrial coatings business line of BASF SE in December 2015 in order to
strengthen company roots in coating industry
Browse more reports of this category
by Grand View Research: https://www.grandviewresearch.com/industry/renewable-chemicals
Grand
View Research has segmented the green coatings market on the basis of
technology, and regions:
Green
Coatings Technology Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 -
2025)
- Waterborne
Coatings, By Application
- Architectural
- Industrial
coatings
- High
Performance
- Automotive
- Wood Coating
- Packaging
- Others
- Powder
Coatings, By Application
- Consumer
Goods
- Architectural
- Automotive
- General
Industries
- Furniture
- Others
- High Solid
Coatings, By Application
- Industrial
- Automotive
- Aerospace
- Packaging
- Others
- UV Cured
Coatings, By Application
- Industrial
- Automotive
- Wood Coating
- Packaging
- Others
Green
Coatings Regional Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 -
2025)
- North America
- U.S.
- Europe
- Germany
- UK
- Asia Pacific
- China
- India
- Japan
- Central &
South America
- Brazil
- Middle East
& Africa
About Grand View
Research
Grand View Research, Inc. is a U.S. based market
research and consulting company, registered in the State of California and
headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. To help clients
make informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
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