Global Green Coating Market Size, Status And Outlook 2021-2027
MarketInsightsReports, one of the world’s prominent market research firms has released a new report on Green Coating Market. The report contains crucial insights on the market which will support the clients to make the right business decisions. This research will help both existing and new aspirants for Green Coating market to figure out and study market needs, market size, and competition. The report talks about the competitive scenario, and the challenges for market growth, market opportunities, and the threats faced by key players.
The market size for green coatings was about $60.6 billion in 2012 by value and is estimated to grow at a CAGR of about 5.6% from 2013 to 2018.
The global market for Green Coatings estimated at US$92 Billion in the year 2020, is projected to reach a revised size of US$124.2 Billion by 2027, growing at a CAGR of 4.5% over the analysis period 2021-2027.
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Top Companies in the Global Green Coating Market: Akzo Nobel, Henkel, PPG Industries, Sika, The Sherwin-Williams and Others
The Coronavirus (COVID-19) pandemic has affected every aspect of life worldwide. It has forced various industries to re-evaluate their strategies and adopt new ones to sustain during these trying times. The latest report includes the current COVID-19 impact on the market.
What is Green Coatings?
Green coatings are nothing but normal day to day coatings that have low VOC content which have less environment footprint. The importance of developing sustainable products remains as one of the major concern for coatings as well as paints manufacturers. From OEM equipment manufacturers to DIY consumers, low VOC coatings are preferred all over. Due to the stringent laws and regulations coatings manufacturers have recognized the importance to deliver low and zero VOC products. Manufacturers are working even harder to develop high performance low VOC coatings that have specific application and are durable enough for extreme conditions. In February 2003, in response to the organizations like Leadership in Energy and Environmental Design (LEED) and Energy Star the first restriction on VOC emission was introduced which was termed as Restriction of Hazardous Substances Directive (RoHS) and was set up for Europe. Since then coatings manufacturers have been working tirelessly to produce more and more green coatings adhering to all laws and regulations.
This report segments the global Green Coating market on the basis of Types are:
Radiation Cure Coatings
On the basis of Application, the Global Green Coating market is segmented into:
Regional Analysis For Green Coating Market:
The Europe region held the largest market share for green coating in 2018. Owing to the government regulations towards limiting the usage of VOCs in the painting segment due to health and environmental risks caused because of the formation of aerosols, produce when VOCs reacts with NOx besides the concern of the consumer to have a better indoor air quality have led to the surging demand of green coating in the region. Moreover, having the most significant automotive and packaging market has driven the overall growth for the green coating in the regional market.
The Asia-Pacific region is the fastest-growing region for the green coating during the forecast period owing to the rapid industrialization and improving the gross domestic product (GDP) per capita has changed the standard of living of individuals, with now people being concerned for their health and hygiene and are spending on better quality of products. Therefore, shifting towards green coating over normal coating hence propelling the growth of green coating in the regional market.
North America has a prominent share in the global green coating market which is attributed to the fact the environment agencies in the region are very meticulous about the VOCs laws which stimulate the manufactures of the paint and coating segment for the adoption of green coating besides this the R&D sector of the region is continuously improvising their products to make it more sustainable. For Instance, a chemist from brock university Canada has developed a green coating that protects the metal from corrosion.
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Green Coating Market Share Insights
The entry of new market players is expected to be limited owing to high investment costs in addition to fluctuating prices of raw materials. Rapid product innovation is expected to pose a threat of forward integration by the raw suppliers. The global presence and business model of such conglomerates are expected to pose a risk to existing market players.
Major coating manufacturing companies try to integrate with domestic players to expand business in the local market and augment their production capacity. Key market participants include AkzoNobel, PPG Industries, Jotun, Kansai Paint, Nippon Paint, Axalta Coating Systems, BASF SE, Valspar Corporation, Sherwin-Williams, and Royal DSM.
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What are the market factors that are explained in the report?
–Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.
–Key Market Features: The report evaluates key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.
–Analytical Tools: The Global Green Coating Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, SWOT analysis, feasibility study, and investment return analysis have been used to analyze the growth of the key players operating in the market.
Customization of the Report: This report can be customized as per your needs for additional data up to 3 companies or countries or 40 analyst hours.
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How we have factored the effect of Covid-19 in our report:
All the reports that we list have been tracking the impact of COVID-19. Both upstream and downstream of the entire supply chain has been accounted for while doing this. Also, where possible, we will provide an additional COVID-19 update supplement/report to the report in Q3, please check for with the sales team.
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