IMARC Group, a leading market research company, has recently releases report titled “Green Coatings Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028” The study provides a detailed analysis of the industry, including the global green coatings market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Report Highlights

How big is the green coatings market?

The global green coatings market size reached US$ 86.0 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 112.0 Billion by 2028, exhibiting a growth rate (CAGR) of 4.6% during 2023-2028.

What are green coatings?

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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What are the growth prospects and trends in the green coatings industry?

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.

What is included in market segmentation?

The report has segmented the market into the following categories:

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 (U.S. & Canada)
• Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Others)
• Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia, and Others)
• Latin America (Brazil, Mexico)
• Middle East & Africa

Who are the key players operating in the industry?

The report covers the major market players 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.

If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.

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