Future of Green Coatings Market: Size, Share & Forecasts to 2029

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What Is the Projected Market Size Valuation of the Green Coatings Market by 2025?
The market for green coatings has been showing robust growth in recent times. The market is projected to escalate from $101.62 billion in 2024 to a staggering $108.7 billion in 2025, showcasing a compound annual growth rate (CAGR) of 7.0%. Factors attributed to this growth during the historical period includes environmental regulations, heightened consumer awareness, initiatives by the government, a shift towards sustainable operations, corporate sustainability objectives, and the incorporation of renewable resources in coating formulations.

What Is the Estimated Market Growth Value for the Green Coatings Industry in 2029?
The market for green coatings is predicted to witness substantial expansion in the coming years, with its value expected to reach $146.91 billion by 2029, reflecting a compound annual growth rate (CAGR) of 7.8%. This surge during the forecast period can be linked to financial benefits offered by green products, growth of environmentally conscious construction, needs arising from the automotive sector, usage of bio-based resins and polymers, transition to water-based coatings, and strategies related to climate change mitigation. Key trends during this period will be the desire for low VOC and VOC-free formulation, the adoption of UV-curable coatings, R&D advancements in nanotechnology for coatings, collaborations among industry stakeholders, and the movement towards powder coatings.

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What Are the Growth Drivers and Opportunities in the Green Coatings Market?
The expansion of the construction sector is predicted to drive the green coating market's growth. The construction sector pertains to the commercial field of manufacturing and trading, focusing on the development, upkeep, and renovation of infrastructures. The surge in demand for green buildings, which necessitate the use of bio-based paints and coatings for environmental protection and pollution reduction, prompts the growth in the construction sector. As an example, the United States Census Bureau, a federal statistical department based in the U.S., reported that the total expenditure on industrial development in the US reached $1,762.3 billion in June 2022. PolicyAdvice, an UK-based firm supplying insurance information, disclosed that the annual mean spending on industrial construction in the US is noted to be $1.23 billion. Consequently, the notable escalation in the construction sector is predicted to stimulate the market in the future years.

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What Are the Primary Segments Covered in the Global Green Coatings Market Report?
The green coatings market covered in this report is segmented -

1) By Type: Waterborne Coatings, Powder Coatings, High-Solids Coatings, Radiation Cure Coatings
2) By Source: Vegetable Oil, Soy Bean, Castor Oil, Clay, Other Sources
3) By End-Use Industry: Industrial, Architectural, Automotive, Packaging, Other End-Use Industries

Subsegments:
1) By Waterborne Coatings: Acrylic Coatings, Alkyd Coatings, Epoxy Coatings
2) By Powder Coatings: Thermoset Powder Coatings, Thermoplastic Powder Coatings
3) By High-Solids Coatings: High-Solid Acrylics, High-Solid Polyurethanes
4) By Radiation Cure Coatings: UV-Curable Coatings, Electron Beam-Curable Coatings

What Are the Top Growth Trends in the Green Coatings Market?
Leading firms in the green coatings industry are concentrating on developing novel biosurfactants to enhance the performance of waterborne coatings and inks, with the aim of bolstering sustainability, diminishing environmental harm, and boosting durability without sacrificing quality or safety standards. Biosurfactants are surface-acting agents produced by microorganisms like bacteria, yeast, and fungi, and are certified by the EU Ecolabel for their appropriateness in eco-friendly applications. The process of manufacturing them results in extremely low volatile organic compound (VOC) emissions, thus minimizing their potential harm to human health and the environment. For instance, in September 2024, Evonik Industries AG, a Germany-based company, brought TEGO Wet 570 Terra and TEGO Wet 580 Terra to market. Both of these products are entirely derived from natural resources and produced using a unique fermentation process with microorganisms, distinguishing them from conventional fossil-based surfactants.

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Which Companies Are Shaping the Future of the Green Coatings Market?
Major companies operating in the green coatings market are Akzo Nobel NV, Axalta Coating Systems Ltd., BASF SE, PPG Industries Inc., The Sherwin Williams Company, Arkema Group, Asian Paints Limited, Berger Paints India Limited, Jotun A/S, Hempel A/S, Nippon Paint Holdings Co. Ltd., RPM International Inc., Kansai Paint Co. Ltd., Tikkurila Oyj, Sika AG, Valspar Corporation, The Dow Chemical Company, KCC Corporation, DAW SE, Eastman Chemical Company, BioShield Technologies Inc., Green Planet Paints, ECOS Paints, AFM Safecoat, Mythic Paint, Old Fashioned Milk Paint Co., Livos, Earthborn Paints, Auro Naturfarben, Lanxess AG

Which Region Holds the Largest Market Share in the Green Coatings Industry?
Europe was the largest region in the green coatings market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the green coatings market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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This release was published on openPR.