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Global Green Coatings Market Insight 2021-12-29 Comments

The green coatings is forecast to continue rising over the next four years. According to the World Knowledge Information (WKI) “Global Green Coatings Professional Survey Report 2021, Forecast to 2026”,Strict environmental regulations, the spread of green building standards, and consumers’ increased awareness of sustainable products have increased the global demand for green coatings. The compound annual growth rate (CAGR) for the 2021-2026 period is projected to be 6.73% base on WKI regression analysis model.

Analysts’ Viewpoint:

“The focus of green coatings is not just on the environmental protection level.” said Selena, Senior analyst, Chemical & Material Market Research Center in WKI. “Industry participants of green coatings must consider cost and versatility to adapt to the rapid development of the market.”

Market insight:

Green coatings helps improve the overall efficiency of its application equipment, by minimizing the harmful infrared and ultraviolet radiation of the sun, thereby reducing the radiant heat transfer in the house, and promoting the demand for green coatings in the home equipment market.Chemical coatings are made of volatile organic compounds (VOC), which release toxins into the air at room temperature, which can cause a variety of environmental and health hazards. Several governments in North America and Europe have established strict regulations on the use and production of VOC coatings. These restrictions on the use of VOC coatings and strict rules and regulations are expected to promote the development of the green coatings market in the near future.

There are still some factors that market participants must consider.For example, fluctuations in the supply of raw materials and their costs have increased the price of green coatings, thereby limiting market growth.Thus, cost will be one of the focuses of future green coatings development.

Competition Landscape:

Partial integration of the green coatings market. Some major players include AkzoNobel NV, Arkema Group, The Sherwin Williams Company, BASF SE, PPG Industries Inc., and others.

Segmentation of Green Coatings Market:

According to the type of substrate, the green coatings market can be divided into vegetable oil, soybean, castor oil, milk, clay and others.Vegetable oils, as corrosion inhibitors, have proven to be very useful in applications involving exposure to extreme environmental conditions, temperatures, acids, and highly reactive substances. The wide range of product availability has promoted the growth of this market segment. Castor oil-based green coatings have proven to be very effective against the most demanding chemicals and acids, increasing the demand for green coatings in the oil and gas industry and the water and wastewater industries. According to the type of application, the green coatings market can be divided into architectural coatings, industrial coatings, automotive coatings, wood coatings and others.The construction field currently dominates the green coatings market, followed by the automotive and industrial fields. The expected expansion of these end-user industries is expected to drive the green coatings market during the forecast period. It is expected that during the forecast period, the field of construction applications will continue to dominate. In addition, the automotive and industrial sectors are expected to grow steadily during the forecast period.

Green Coatings Market: Regional Analysis

In terms of geography, the global hand sanitizer market has been segmented into: North America, Asia Pacific, Europe, South America, and the Middle East and Africa.The Asia-Pacific region currently dominates the green coatings market. Due to the increasing awareness of environmentally friendly coatings and government initiatives, the demand for green coatings in the region is growing at a faster rate. It is estimated that within the forecast, the Asia-Pacific region will continue to dominate the green coatings market. The Asia-Pacific region has the largest construction market, led by India, China and Southeast Asian countries. China has the largest market share of green coatings in this region. And India will grow at a faster rate than China, thus providing new opportunities for the green coatings market. For example, in India, the government launched the “Housing for All by 2022” project, which is expected to greatly promote the country’s low-cost housing construction sector throughout the forecast period, thereby increasing the demand for green coatings during the forecast period.

 

Cagr: 6.73%
Largest share area:Asia-Pacific
Largest share country:China