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Green Coatings Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

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  • 100 Pages
  • August 2022
  • Region: Global
  • Mordor Intelligence
  • ID: 4896335
UP TO OFF until Mar 31st 2024
The market for green coatings is expected to grow at a CAGR of more than 4% during the forecast period. Major factors driving the market studied is stringent environmental regulations to control VOC emissions.

Key Highlights

  • Augmenting demand for ultraviolet curing coating is likely to act as an opportunity.
  • Asia-Pacific dominated the market across the globe with the largest consumption in a country such as India, China, etc.

Key Market Trends

Water-borne Segment to Dominate the Market

  • The core reason for manufacturers to switch from solvent-borne coatings to water-borne coatings is the VOC released from solvent-borne coatings.
  • Also, other properties, like low odor, more durability, and block resistance, make water-borne coating a preferable option.
  • There are many regulations from several governments that support the use of water-based coatings.
  • REACH, a government initiative in Europe was adopted to improve human health and the environment and avoid the risks caused by chemicals, along with fueling up the competition in the European chemical industry.
  • Promoting alternative methods, for the hazard assessment of substances, in order to reduce tests on animals, is growing the demand for coatings with low VOC-content, such as water-borne green coatings.

China to Dominate the Asia-Pacific Region

  • China has a market share of over 50% of the coatings demand in the region. The conversion of the paints and coatings manufacturers into service providers makes it a highly productive option.
  • The manufacturers are also providing the service of painting job as well; this is being done with the help of trained professionals, or contractors as partners.
  • The demand for green coatings is increasing at a faster rate in the region owing to increasing awareness for environment-friendly coatings and government initiatives.
  • India is to grow at a faster rate than China, thus, providing new opportunities for the green coatings market.
  • Asia-Pacific has the largest construction market which is led by India, China, and various South-east Asian countries.
  • For instance, in India, the government initiated the project ‘Housing for All by 2022’, which is expected to immensely drive the low-cost residential construction segment in the country throughout the forecast period. Furthermore, under the Pradhanmantri Awas Yojana, the Indian government has taken a decision to provide interest subvention of 3% and 4% for loans of up to USD 18,000 and USD 13,500, respectively, for the lower strata of the society with respect to buying and building homes.
  • This, in turn, is likely to increase the demand for green coatings over the forecast period.

Competitive Landscape

The green coatings market is partially consolidated. some of the major players include AkzoNobel N.V., Arkema Group, The Sherwin Williams Company, BASF SE, and PPG Industries Inc., amongst others.

Additional Benefits:

  • The market estimate (ME) sheet in Excel format
  • 3 months of analyst support

This product will be delivered within 2 business days.

Table of Contents

1.1 Study Assumptions
1.2 Scope of the Study
4.1 Drivers
4.1.1 Stringent Environmental Regulations to Control VOC Emissions
4.1.2 Others
4.2 Restraints
4.3 Industry Value-Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
5.1 Type
5.1.1 Water-Borne
5.1.2 Powder
5.1.3 High-solids
5.1.4 UV-cured coatings
5.2 Application
5.2.1 Architectural Coatings
5.2.2 Industrial Coatings
5.2.3 Automotive Coatings
5.2.4 Wood Coatings
5.2.5 Packaging Coatings
5.2.6 Others
5.3 Geography
5.3.1 Asia-Pacific China India Japan South Korea Rest of Asia-Pacific
5.3.2 North America United States Canada Mexico
5.3.3 Europe Germany United Kingdom Italy France Rest of Europe
5.3.4 South America Brazil Argentina Rest of South America
5.3.5 Middle East & Africa Saudi Arabia South Africa Rest of Middle East & Africa
6.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share Analysis**
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 AkzoNobel N.V.
6.4.2 Arkema Group
6.4.3 Asian Paints Limited
6.4.4 Axalta Coating Systems, LLC
6.4.5 BASF SE
6.4.6 Berger Paints
6.4.7 DAW SE
6.4.8 Eastman Chemical Company
6.4.9 Evonik Industries
6.4.10 Hempel A/S
6.4.11 Jotun
6.4.12 Kansai Paint Company Limited
6.4.13 PPG Industries Inc.
6.4.14 RPM International Inc.
6.4.15 The Sherwin Williams Company
6.4.16 Tikkurila Oyj
7.1 Augmenting demand for Ultraviolet Curing Coating

Companies Mentioned

A selection of companies mentioned in this report includes:

  • AkzoNobel N.V.
  • Arkema Group
  • Asian Paints Limited
  • Axalta Coating Systems, LLC
  • Berger Paints
  • DAW SE
  • Eastman Chemical Company
  • Evonik Industries
  • Hempel A/S
  • Jotun
  • Kansai Paint Company Limited
  • PPG Industries Inc.
  • RPM International Inc.
  • The Sherwin Williams Company
  • Tikkurila Oyj