Green coatings are environmentally friendly surface finishes used to reduce environmental impact. They employ sustainable materials, reduce VOC emissions, and enhance energy efficiency. They find applications in construction, automotive, aerospace, and more, aligning with stringent environmental standards and regulations, fostering sustainability, and promoting innovation in material and technology development. The Green Coatings Market is projected to grow from USD 123.6 billion in 2022 to USD 155.9 billion by 2027, at a CAGR of 4.8% between 2022 and 2027. Consumer demand for greater products encouraging manufacturers to use plant-based ingredients.
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Wood coatings is the second fastest-growing segment of the overall Green coatings market.
Green wood coatings are setting a high standard in the industry for being highly sustainable, quality products. They provide high hardness, chemical resistance, and light resistance, along with environmentally friendly industrial processability. Water-based wood coatings offer faster drying times as compared to solvent-based coatings. Polishes and water repellents are among the most commonly used wood coatings due to their high effectiveness. They are supposed to provide greater non-yellowing properties.
The use of powder coatings on wood is growing significantly. By developing powders with low-heat requirements and a uniform-density wood product, wood manufacturers and their customers are now able to powder-coat a wide range of wood products. Manufacturers of home-office furniture, kitchen cabinets, childrens furniture, and outdoor grill tables have identified the importance of green coatings considering their various health-related benefits.
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China is the largest Green coatings market in Asia Pacific during the forecast period.
China is the world's largest producer and consumer of coatings. Many major players are investing in the country to build new manufacturing facilities due to cheap labor and cheap & accessible raw materials. AkzoNobel N.V. has strengthened its distribution network in Mainland China by expanding into 40 new cities and 1,000 additional stores. The green coatings market in China is driven by rising demand from housing activities, new construction and renovation activities, government, and private investment in residential and non-residential projects, and growing consumer spending power. Increasing population, improved lifestyle, economical labor, and restructured environmental regulations are expected to fuel the demand for architectural application in China.
The key players profiled in the Green coatings market report are AkzoNobel N.V. (Netherlands), PPG Industries (US), Axalta Coating Systems (US), BASF SE (Germany), and The Sherwin-Williams Company (US).
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TABLE OF CONTENTS
1 INTRODUCTION (Page No. - 31)
1.1 STUDY OBJECTIVES
1.2 MARKET DEFINITION
1.2.1 MARKET INCLUSIONS
1.2.2 MARKET EXCLUSIONS
1.3 MARKET SEGMENTATION
1.3.1 REGIONS COVERED
1.3.2 YEARS CONSIDERED
1.4 CURRENCY
1.5 UNIT CONSIDERED
1.6 STAKEHOLDERS
1.7 SUMMARY OF CHANGES
2 RESEARCH METHODOLOGY (Page No. - 35)
2.1 RESEARCH DATA
FIGURE 1 GREEN COATINGS MARKET: RESEARCH DESIGN
2.1.1 SECONDARY DATA
2.1.1.1 Key data from secondary sources
2.1.2 PRIMARY DATA
2.1.2.1 Key data from primary sources
2.1.2.2 Key industry insights
2.1.2.3 Breakdown of primary interviews
2.1.2.4 Primary data sources
2.2 MARKET SIZE ESTIMATION
2.2.1 BOTTOM-UP APPROACH
FIGURE 2 MARKET SIZE ESTIMATION: BOTTOM-UP APPROACH
2.2.2 TOP-DOWN APPROACH
FIGURE 3 MARKET SIZE ESTIMATION: TOP-DOWN APPROACH
2.3 DATA TRIANGULATION
FIGURE 4 GREEN COATINGS MARKET: DATA TRIANGULATION
2.4 ASSUMPTIONS & LIMITATIONS
TABLE 1 RESEARCH ASSUMPTIONS
TABLE 2 RESEARCH LIMITATIONS
TABLE 3 RISK ANALYSIS
2.5 GROWTH RATE ASSUMPTIONS/GROWTH FORECAST
2.6 PRICING ASSUMPTIONS
3 EXECUTIVE SUMMARY (Page No. - 45)
TABLE 4 GREEN COATINGS MARKET SNAPSHOT, 2022 VS. 2027
FIGURE 5 WATERBORNE TYPE TO DOMINATE MARKET DURING FORECAST PERIOD (USD MILLION)
FIGURE 6 ARCHITECTURAL APPLICATION TO DOMINATE MARKET DURING FORECAST PERIOD
FIGURE 7 ASIA PACIFIC TO BE FASTEST-GROWING MARKET DURING FORECAST PERIOD
4 PREMIUM INSIGHTS (Page No. - 49)
4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN GREEN COATINGS MARKET
FIGURE 8 SIGNIFICANT DEMAND GROWTH EXPECTED FOR GREEN COATINGS DURING FORECAST PERIOD
4.2 MARKET, BY TECHNOLOGY
FIGURE 9 WATERBORNE TO REMAIN LARGEST SEGMENT OF GREEN COATINGS MARKET
4.3 ASIA PACIFIC: GREEN COATINGS MARKET, BY APPLICATION AND COUNTRY
FIGURE 10 ARCHITECTURAL APPLICATION ACCOUNTED FOR LARGEST MARKET SHARE IN ASIA PACIFIC
4.4 MARKET, BY DEVELOPED VS. EMERGING ECONOMIES
FIGURE 11 CHINA TO ACCOUNT FOR LARGEST SHARE
4.5 MARKET: MAJOR COUNTRIES
FIGURE 12 INDIA TO BE FASTEST-GROWING MARKET DURING FORECAST PERIOD
5 MARKET OVERVIEW (Page No. - 52)
5.1 INTRODUCTION
5.2 MARKET DYNAMICS
FIGURE 13 DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES IN GREEN COATINGS MARKET
5.2.1 DRIVERS
5.2.1.1 Increasing focus on health and sustainability to bring “going green” idea into greater limelight
5.2.1.2 Stringent environmental policies
5.2.2 RESTRAINTS
Continued...
