Green Coating Market 2023: Trends and Growth, Segmentation and Key Companies

Posted by Market Research Future on December 7th, 2018

Market Research Future published a Half Cooked Research Report on “Global  Green Coating Market Research Report - Forecast to 2023”– Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.

Axalta Coating System, Allnex S.a r.l., Momentive, Omnova Solutions, Bayer Material Science, Valspar Corporation, Arkema Inc., Sherwin-Williams Company, DSM, and PPG Industries are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the global green coating market.

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Global Green Coating Market - Overview

Despite many advances, biomaterial-associated infections continue to be a major clinical problem. In order to minimize bacterial adhesion, material surface modifications are currently being investigated and natural products possess large potential for the design of innovative surface coatings. Since technology and advanced research has helped with the evolution and development of better, healthier paint, coating companies are now turning to environment-friendly ingredients as the main component of their coating material to improve the health and environment for their consumers and their employees

Going green has become popular with professionals in the painting industry, and professionals are keeping up with the interest in green coatings, both by acknowledging the demand aspect as well as from the perspective of meeting regulations by specifying the appropriate product. Coating industry witnesses an increase in the use of eco-friendly materials as a part of green or sustainable chemistry in last few years owing to increasingly strict environmental regulations, growth in popularity of green building standards, and rise in consumer awareness for sustainable products.

Green Coating segmented on the basis of Type (Powder Coatings, Radiation Cure Coatings, Waterborne Coatings and High Solids Coating). On the basis Type, Powder technology is expected to grow at rapid pace in the forecasted period, on account of its superior properties including zero VOC, superior corrosion resistance, reduced drying time and high-quality finish. Initiatives taken by the industry players to manufacture environmentally friendly products in order to comply with regulatory norms including EU's VOC Regulation and U.S. EPA's Clean Act is expected to propel industry growth. By Application (Industrial, Architectural, Automotive, Packaging and others.). The architectural application is the most prevalent and attractive segment owing to increase in global infrastructure spending for residential & commercial sectors.

Global Green Coating market is growing with the rapid pace; mainly due to advancement in technologies. The major drivers of growth for this market are growth in end-use industries, stringent environmental regulations, and growing awareness towards volatile organic compounds (VOC) emissions. According to a recent study report published by the Market Research Future, The global market of Green Coating is booming and expected to gain prominence over the forecast period. The market is forecasted to demonstrate a stunning growth by 2023, surpassing its previous growth records in terms of value with a striking CAGR during the estimated period (2017 – 2023). 

Green Coating Market   - Competitive Analysis              

Green Coating market appears to be competitive with the presence of several large and small players operating in the Green Coating Market. These Key players compete based upon pricing, quality, Technology and reputation. Green Coating market demonstrates a high growth potential which is likely to attract many entrants to the market resulting in to intensified competition further. Moreover, manufacturers mainly ensure to deliver the best quality products based on innovative technologies, and best practices. 

Industry Overview:

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.

Green Coating Market   - Segments:

Global Green Coating Market is segmented in to 3 Key dynamics for an easy grasp and enhanced understanding.

Segmentation by Type: Powder Coatings, Radiation Cure Coatings, Waterborne Coatings and High Solids Coating

Segmentation by Application: Industrial, Architectural, Automotive, Packaging and others.

Segmentation by Regions: Comprises Geographical regions - North America, Europe, APAC and Rest of the World.

Green Coating Market   - Regional Analysis

Asia-Pacific is expected to witness the highest growth and will remain the largest market during the forecast period, supported by growth of end-use industries and increasing awareness of the benefits of green coatings. Asia Pacific is expected to witness highest growth and will remain the largest market during the forecast period supported by growth of end use industries and increasing awareness about the benefits of green coatings market. Moreover, emerging trends, which have a direct impact on the dynamics of the green coatings industry, include the increasing use of ultraviolet curing coating, and use of plant-based sources to develop wood coatings.

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