Coating is a layer of a substance spread over a surface as for protection or decoration. Any coating that does not pollute the environment or indirectly reduces pollution during any of its stages can be termed as Green Coating. The growth of the end use industries is the key factor driving the growth of the market. Additionally, the coating manufacturers have shifted their focus to bio-based coating due to stringent regulatory standards of REACH, EPA, and other environment & health care agencies. However, economic slowdown in U.S. and Europe may hamper the growth of green coating market. Green Coating Market is expected to grow at CAGR of approximately 5% by 2022.
Continuously growing end use industries is the primary driving factor of Green Coating Market. Additionally, as increasing the environmental concerns, consumers are focusing on environmental friendly products which have positive influences in the Green Coating Market. Rapid economic growth in emerging countries & increasing usage of the ultraviolet curing coating and plant-based sources for the production of the wood coating is anticipated to foster the Global Green Coatings Market growth. However, economic slowdown in U.S. and Europe may hamper the growth of Green coating market.
On the basis of type, Green Coating Market segments are Powder Coatings, Radiation Cure Coatings, Waterborne Coatings and High Solids Coating. Among all of them waterborne Coating have a high demand across the globe. Waterborne coatings are green substrates using water as solvent to dissolve a resin, making them environment friendly and easy to apply. Waterborne coatings are widely used in interior & exterior paints, doors, trims and facades in architectural & automotive industry. Factors like temperature and heat resistant, non-hazardous, eco-friendly, low VOC boosting the demand of this segment. Powder coating is also expected to grow at significant pace. Powder coatings are solvent free resulting in negligible volatile organic compounds (VOC) emissions which in turn makes these products environment friendly, thereby fueling demand. Factors such as high resistance to corrosion, high-quality finish, chipping and abrasion, durability, cost-effective, and reduced processing time increase its popularity among the consumers.
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The key players of Global Green coating Market report include- Axalta Coating System(U.S.), Allnex S.a r.l.(Belgium), Momentive Performance Material (U.S.), Omnova Solutions (U.S.), Bayer Material Science (Germany), Valspar Corporation (U.S.), Arkema Inc (France)., Sherwin-Williams Company (U.S.), DSM (Netherlands), and PPG Industries (U.S.).
Architectural Coating is the largest Growing Market:
On the basis of end-user Green Coating Market is segmented as Industrial, Architectural, Automotive, Construction and others. Among all of them, architectural coating is the fastest growing segment. Increase in global infrastructure spending, mainly for residential and commercial sectors, is expected to spur growth for this segment over the forecast period. Also increasing rate of industrialization, growing IT and telecom sectors in APAC & Middle East also contributing to the growth of this market.
Scope of the Report:
This study provides an overview of the Global Green Coating Market, tracking three market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific, and Rest of the World. The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the Global Green Coating Market as Types and Application.
- Powder Coatings
- Radiation Cure Coatings
- Water-Borne Coatings
- High Solids Coating
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