Green Coatings Market Size, Share | Industry Forecast 2028

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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 is green coatings?

Green coatings are a type of eco-friendly coatings that emit negligible levels of volatile organic compounds (VOCs) during the manufacturing process. They are available in different forms, such as water-based paints, high-solid paints, powder coatings, and radiation-hardened coatings. These coatings are produced using natural materials, including vegetable oil, soybean, castor oil, milk, and clay. They help reduce the harmful effects of infrared and ultraviolet (UV) radiation and also improve the efficiency of the equipment. As a result, green coatings find extensive applications across the construction, automotive, oil and gas, mining, aviation, aerospace, and marine industries across the globe.

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

The global green coatings market is primarily driven by the implementation of strict government regulations concerning the emission of VOCs. Moreover, the rising use of green coatings as protective and decorative paints on various surfaces due to rapid expansion in the construction industry is positively influencing market growth. Additionally, the increasing use of green coatings on consumer products, such as HVAC units, furniture, fixtures, and electronic boxes, has catalyzed market growth. Furthermore, key players are investing heavily in research and development (R&D) activities to develop innovative and cost-effective product variants that offer superior water and chemical resistance, low drying time, and antibacterial and anti-odor properties are contributing to the market growth. Other factors, including the rising adoption of waterborne and powder-based coatings, ongoing infrastructural development, and rapid industrialization, are also anticipated to propel the market growth.

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.

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