Press release
Green Coatings Market to Worth US$ 107.5 Billion by 2027 | Industry CAGR of 4.76%
Green Coatings Market
Green Coatings Industry Definition and Application:
Green coatings are eco-friendly and volatile organic compounds (VOCs) free coatings prepared using vegetable oil, soybean, castor oil, and milk. They are block-resistant and non-toxic as compared to traditional solvent-borne coatings. They aid in protecting the exterior of buildings from the harmful impact of infrared and ultraviolet (UV) radiation and help in extending their service life. At present, they are widely used in construction, automotive, oil and gas, mining, aerospace, and marine industries across the globe.
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Green Coatings Market Trends and Drivers:
The growing global population, rapid urbanization, rising inadequacy of vegetation and a significant rise in the use of asphalt in road construction are resulting in the urban heat island (UHI) effect. This effect increases the cost of air conditioning and electricity expenditure for building owners. As a result, there is an increase in the use of the green coatings to reflect infrared radiation and counter the UHI effect. Apart from this, the increasing applications of green coatings on various consumer products, such as oven components, electronic boxes, and furniture, are creating a favorable market outlook. Furthermore, due to rising environmental concerns, governments of various countries are focusing on sustainable solutions, which is stimulating the growth of the market around the world.
Green Coatings Market Segmentation:
The report has segmented the market on the basis on region, type and application.
Breakup by Type:
Waterborne
Powder
High Solid
UV Cured
Breakup by Application:
Architectural Coatings
Industrial Coatings
Automotive Coatings
Wood Coatings
Packaging Coatings
Others
Breakup by Region:
North America:( United States, Canada)
Asia-Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
Latin America: (Brazil, Mexico, Others)
Middle East and Africa
Who are the Major Green Coatings Market Key players?
The report provides a detailed analysis of the market leaders, including.
Akzo Nobel N.V.
Asian Paints Limited
Axalta Coating Systems Ltd.
BASF SE
Hempel A/S
Jotun
Kansai Paint Co. Ltd.
Koninklijke DSM N.V.
Nippon Paint Holdings Co. Ltd.
PPG Industries Inc
The Sherwin-Williams Company.
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