Green Coatings Market is Forecasted to Reach US$ 158 Billion in 2028, Says Stratview Research

The global green coatings market is projected to witness a growth rate of 4.9% annually from 2022 to 2028, with an anticipated size of US$ 158 billion by 2028, according to an analysis by Stratview Research.

Stratview Research, a global market research firm has launched a report on the global green coatings market which provides a comprehensive outlook of the global and regional market, industry forecast, current & emerging trends, segment analysis, competitive landscape, & more.

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Report Highlights:
Market Size in 2028: US$ 158 billion
Growth (CAGR): 4.9% during 2022-2028
Forecast Period: 2022-2028
Trend Period: 2016-2020
Base Year: 2021
Number of Segments Covered: 3
Number of Tables & Graphs: 100+
Country-Level Market Assessment: 20

Segment Insights on the Green Coatings Market:

The global green coatings market is segmented based on type, application type, and region.

Based on type - The green coatings market is segmented into high-solids coatings, powder coatings, radiation cure coatings, and waterborne coatings, are the types. The waterborne coatings market holds the largest share during the forecast period. Southeast Asia is expected to experience the highest growth in demand for waterborne acrylic coatings because of this region's growing need for acrylic resins in the building and automotive industries.

Based on application type - The market is segmented into architectural coatings, automotive coatings, industrial coatings, packaging coatings, wood coatings, and others comprise the application category. Automotive holds the largest market share in the application segment during the forecast period. The high share is mainly attributed to the widespread adoption of green coatings in the automotive sector and increased production activity.

To know the most attractive segments, click here:
https://www.stratviewresearch.com/3427/green-coatings-market.html

Which Region Shows the Most Promising Growth Forecast and Opportunity?

The analysis suggests that Europe is likely to maintain its supremacy in the green coatings market throughout the forecast period. This growth outlook is majorly attributed to the following-

• Economic development and increasing various infrastructure projects including seaports and airports in European countries including the U.K., Spain, and others is one of the key factors that is boosting the growth in the Europe Green Coatings market.
• The region's demand for green coating is on the rise because of government regulations that limit the use of VOCs in the painting industry due to the health and environmental risks associated with the formation of aerosols when VOCs react with NOx as well as consumer concerns about having better indoor air quality.
• Concurrently, the Green Coatings market in the Asia-Pacific is anticipated to expand at the highest CAGR during the forecast period. Asia-Pacific is showing the most substantial growth due to increasing infrastructural development and government initiatives for green building which are anticipated to surge the growth of green coatings in this region. High investment in automation, industrial, wood, and airport infrastructure is required across the regions to sustain the current level of growth.
• For instance, according to the Asian Development Bank, Asia's infrastructure market is forecasted to rise by 7 to 8% annually, accounting for $5.3 trillion by 2025 or 60% of the world's total infrastructure market. Furthermore, as per The Chinese national "New-Type Urbanization Plan" {The National New-type Urbanization Plan (2014-2020)}, one of the key projects has planned to focus on green building, building with green energy, innovation in industrial parks, green traffic, and the urban environment.

Green Coatings Market Drivers:

Some of the key drivers listed in the report are given below.
• Growing awareness of Volatile Organic Compounds (VOC) emissions is a major driving factor for the growth of the green coatings market worldwide. Increasing health hazards and environmental concerns led to regulations such as 'National Volatile Organic Compound Emission Standards for Architectural Coatings' by the U.S. EPA.
• One of the main reasons contributing to the market's optimistic outlook is the global construction industry's rapid rise. As protective and aesthetic paints, green coatings are frequently used on walls, roofs, panels, windows, door frames, and interior extrusions. Additionally, they are employed on a variety of consumer goods, including parts for ovens, dryer drums, rooftop HVAC systems, electronic boxes, furniture, and fittings.
• The construction industry has seen tremendous growth worldwide, which is one of the main factors supporting the market's optimistic outlook. Green coatings are painted on walls, roofs, panels, windows, door frames, and interior extrusions as protective and decorative paints. Additionally, they are employed on a variety of consumer goods, including parts for ovens, dryer drums, rooftop HVAC systems, electronic boxes, furniture, and fittings.

Top Companies in the Green Coatings Market:

Stratview Research has identified the following companies as the top market players.
• Akzonobel N.V. (Netherlands)
• Asian Paints Limited (India)
• Axalta Coating Systems LLC (USA)
• BASF Se (Germany)
• Berger Paints India Limited (India)
• Deutsche Amphibolin Works Se (Daw) (Germany)
• Hempel A/S (Denmark)
• Jotun A/S (Norway)
• Masco Corporation (USA)
• Nippon Paint Company Ltd. (Japan)
• Ppg Industries Inc. (USA)
• Rpm International Inc. (USA)
• The Sherwin-Williams Company (USA)
• The Valspar Corporation (USA)
• Tikkurila OVJ (Finland)

What Unique Insights Does this Report Offer?
This report provides comprehensive insights into the Green Coatings Market, answering critical questions like:
• How big is the sales opportunity?
• Which regions offer the best sales opportunities?
• Which are the most attractive market segments?
• Which are the top players and their market positioning?
• How complex is the business environment?
• What are the factors affecting the market?

For Customization or Any Other Queries, Get in Touch with Our Industry Experts at - sales@stratviewresearch.com

Related Reports:
• Wood Coating Market: https://www.stratviewresearch.com/1764/wood-coating-market.html
• Architectural Coatings Market: https://www.stratviewresearch.com/3399/architectural-coatings-market.html

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This release was published on openPR.