Green Coatings Market is improving the Sustainability and Environmental Impact of the Coatings Industry

Green Coatings technology is primarily driven by by increasingly stringent environmental regulations, and also the increasing consumer interest in buying eco friendly products and the rising popularity of green building standards. The increasing demand for waterborne and powder technology to replace solvent borne coatings especially in the automotive application is anticipated to drive industry growth in the forecast period.

Owing to the presence of several major manufacturers.,the green coatings market is highly competitive and fragmented The key factors affecting the buyer’s decision are product quality and pricing. The strict regulations imposed by EPA in the U.S., on the paints and coatings industry to limit VOC are anticipated to have a optimistic impact on the industry growth. The innovations done by the automotive manufacturers in US to use powder and UV cured coatings in vehicle manufacturing are expected to push the product demand. Expansion of capacity, mergers, and product innovation and partnerships are anticipated to be the major strategies for these market players to uphold competition in the market. The wide product options by different manufacturers and irregular raw material prices are expected to challenge manufacturers in terms of profitability.

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The Green Coatings market is segmented by formulation, source, applications, and geography. On the basis of formulation, the global Green Coatings market is segmented into water-borne, powder, high solids, ultra-violet, solar reflective, chrome-free and bio-renewable.By source the market is segmented into vegetable oil, soy-bean,castor oil, and clay.By application the market is segmented into construction, consumer good, automotive, oiil and gas, mining,and aerospace By geography, the Green Coatings market is segmented into. North America, Europe, Asia Pacific, Middle East & Africa, and Latin America.

The industry is governed by various regulations as mentioned by the environmental protection agencies and governments across the globally. For example, in the U.S., it has to obey with OSHA regulations when undergoing deposition process and must abide to all REACH regulations since they contain hazardous chemicals. According to UN reports the world population is expected to reach 8.5 billion in the year 2030, which means there will be increased activity in the architectural sector in developed as well as developing nations have made the market green coatings mature enough comparatively at a short time span.

Some of the companies in the Green Coatings market are Jotun, Axalta, Valsapar, PPG Industries Inc. BASF SE, Valspar Corporation, Sherwin-Williams, and Royal DSM, .among others. The major companies operating in the global Green Coatings market will eventually grab the opportunity presented by the new technology to further enhance their product offerings.

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