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Green Coatings Market Expected To Witness Phenomenal Growth Of USD 209.2 Billion By 2025: Grand View Research Inc.

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Green Coatings Market Expected To Witness Phenomenal Growth Of USD 209.2 Billion By 2025: Grand View Research Inc.

March 17
12:35 2019

Grand View Research, Inc. – Market Research And Consulting.
According to report published by Grand View Research, Increasing stringent government regulations associated with VOC is expected to propel demand. Rising demand for waterborne and powder technology to replace solvent borne coatings especially in the architectural and automotive application is expected to drive green coatings market growth.

According to a report,Green Coating Market Analysis By Technology (Waterborne, Powder, High Solid, UV Cured), By Region (North America, Europe, Asia Pacific, Central & South America, MEA), And Segment Forecasts, 2018 – 2025”, published by Grand View Research, Inc., The global green coatings market is expected to reach USD 209.2 billion by 2025. The market is expected to witness a CAGR of 6.9% over the forecast period, Owing to Increasing product penetration in construction and automotive application to replace high VOC emitting solvent based coatings is likely to drive industry growth.

Key Takeaways from the report:

  • Waterborne technology dominated the industry in 2016 and is likely to grow at a CAGR of 6.8% from 2017 to 2025 owing to its rising consumer preference towards environmental friendly products in architectural and automotive applications

  • Powder technology is expected to grow at CAGR of 7.2% from 2017 to 2025, on account of its superior properties including zero VOC, superior corrosion resistance, reduced drying time and high-quality finish

  • In 2016, automotive application for UV cured technology accounted for 23.4% and is expected to grow at a significant rate owing to rising product demand for manufacturing sunroof seals, window seals, and paint touch up applications

  • Asia Pacific accounted for 33.4% of overall green coatings market share in 2016 and is expected to grow at the fastest rate owing to rapid growth of automotive construction industry in economies including India and China

  • Europe has been a major consumer for waterborne paints owing to the stringent government regulation, early adoption of the technology and high consumer awareness regarding the product benefits

  • Initiatives taken by the industry players to manufacture environmentally friendly products in order to comply with regulatory norms including EU’s VOC Regulation 2004/42/EC and U.S. EPA’s Clean Act is expected to propel industry growth

  • In July 2017, AkzoNobel acquired Flexcrete Technologies Ltd. And Disa Technology in order to expand the company business in aerospace, industrial and automotive coatings. In addition, the company acquired industrial coatings business line of BASF SE in December 2015 in order to strengthen company roots in coating industry

U.S. green coatings market by technology, 2014 - 2025 (USD Billion)

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Bio Solvents Market: Volatile petrochemical prices coupled with growing concerns regarding VOC presence in conventional solvents is expected to remain a key driving factor for global bio solvents market.

Furfural Market: Industry shift towards minimizing dependence on conventional petrochemicals on account of growing environmental concerns and volatile prices is expected to remain a key driving factor for the global furfural market.

The industry is highly competitive owing to the presence of several international players including PPG Industries, AkzoNobel NV, Sherwin-Williams, Evonik Industries and Eastman Chemical Company. These players are focusing on increasing their share along with profitability through product innovation, R&D activities, mergers, and acquisition.

Global green coatings market, by technology, 2016 (%)

Strong foothold of the existing players, extensive product offerings and wide geographical reach is expected to be the key barrier for the emerging manufacturers. The majority of the industry players are integrated across the value chain in order to reduce their dependency on the raw material suppliers and increase profitability.

Grand View Research has segmented the green coatings market on the basis of technology, and regions:

Green Coatings Technology Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 – 2025)

  • Waterborne Coatings, By Application

    • Architectural

    • Industrial coatings

    • High Performance

    • Automotive

    • Wood Coating

    • Packaging

    • Others

  • Powder Coatings, By Application

    • Consumer Goods

    • Architectural

    • Automotive

    • General Industries

    • Furniture

    • Others

  • High Solid Coatings, By Application

    • Industrial

    • Automotive

    • Aerospace

    • Packaging

    • Others

  • UV Cured Coatings, By Application

    • Industrial

    • Automotive

    • Wood Coating

    • Packaging

    • Others

Green Coatings Regional Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 – 2025)

  • North America

    • U.S.

  • Europe

    • Germany

    • UK

  • Asia Pacific

    • China

    • India

    • Japan

  • Central & South America

    • Brazil

  • Middle East & Africa

Explore the green coatings market research database, Navigate with Grand View Compass, by Grand View Research, Inc.

About Grand View Research

Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.

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