The Global Green Coatings Market Is Witnessing High Growth Owing To the High Prevalence of the Paint and Coatings Market in the World

Green Coatings Market
Green Coatings Market

Green Coatings Market, By Type (Water-Borne, Powder, High-Solids, Radiation-Curved), and By Application (Architectural, Industrial, Automotive, Others) - Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2022-2028.

Market Overview:

The green coating industry is gaining popularity due to growing concerns about environmental pollution and health hazards caused by the use of chemical-based products. As a result, many paint and coating companies have started implementing green-friendly technologies. One such technology is the creation of water-based coatings that release low levels of VOCs. These coatings offer a variety of benefits, including reduced emissions and lower maintenance costs. These coatings are also known to be more durable and less prone to corrosion.

These coatings are becoming increasingly popular with homeowners and businesses alike. They are an eco-friendly alternative to solvent-based paints, which can contain toxic chemicals such as formaldehyde and dioxin. In addition, these green coatings can reduce energy consumption and carbon footprints. They also provide a variety of other benefits, such as improved indoor air quality, decreased exposure to harmful substances, and increased durability.

Competitive Landscape:

Major players operating in the global green coatings for market include The Sherwin-Williams Company, BASF SE, Axalta Coating Systems, PPG Industries, and AkzoNobel N.V.

Key Market Drivers:

Increasing developments by key companies in the global Green Coatings Market are expected to augment the growth of the market.

For instance, in August 2021, AkzoNobel N.V. launched the Dulux Better Living Air Clean Biobased, which qualifies as a Green Product and met the requirements of GreenPro Certification. Green reagents are derived from natural resources, such as plant-based fibers and renewable energy sources, which can be more environmentally friendly than fossil-based alternatives.

Various government and regulatory bodies have initiated initiatives to promote the use of sustainable chemistry. These policies are aimed at protecting human health and the environment, as well as fueling chemical innovation. These initiatives are expected to boost the market for green coatings in the coming years. Moreover, increasing awareness related to green construction is estimated to enhance the growth of the global green coatings for market.

Covid-19 Impact Analysis:

During the COVID-19 pandemic, there have been several challenges in the global Green Coatings Market. However, the high introduction of advanced products in the market by key companies gradually boosted the growth. For instance, in October 2020, Dulux from AkzoNobel introduced the first indoor air-purifying paint in Vietnam.

Key Takeaways:

· North America is expected to dominate the growth of the global green coatings for market, owing to the high prevalence of paint companies in the region. For instance, according to the American Coatings Association, currently, there are around 970 paint manufacturing businesses in the U.S.

· The Asia Pacific is estimated to witness high growth in the global Green Coatings Market, owing to the increasing expansion of the construction sector in the region. For instance, according to the Builders Association of India (BAI), there are more than 175,000 construction companies in India.

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