Green Coatings

Green Coatings Market - Global Industry Insights, Trends, Outlook,
and Opportunity Analysis, 2018-2026
Green coatings are eco-friendly paint coating with low volatile organic compound (VOC)
content. Emission of VOC releases toxics in the surrounding air causing health problems,
such as dizziness, headache, kidney damage, and harms the ozone layer. Development of
sustainable products has gained importance over the past few decades, due to which
manufacturers are focused on introducing eco-friendly products to the market.
Manufacturers are aiming to produce high-performance coatings that have zero or low VOC
with good durability. Application of green coatings in end-use industries and rising
awareness regarding VOC emissions have contributed to the growth of the green coatings
market globally.
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Stringent government regulations have immensely driven the green coatings market globally.
The first restriction on the emission of VOC was set up for Europe in 2003, which was
termed as Restriction of Hazardous Substances Directive (RoHS), which was put forward by
Leadership in Energy and Environmental Design (LEED). Since then manufactures are
working to produce green coatings, in turn fueling the growth of the green coatings market.
Increasing cost of raw materials further increases the cost of green coatings, which is the
restraint for the growth of global green coatings market. High investment cost further hinders
the growth of green coatings market globally.
Water-borne coatings segment has proven to be the prominent segment of green coatings
market, owing to its tremendous use in architectural and constructional activities. High solids
coating segment is witnessed to gain traction, due to its increasing application in aerospace.
Architectural coating segment has projected to have a significant growth rate in the global
green coatings market, owing to increase in infrastructure spending in commercial and
residential sectors.
Green Coatings Market Outlook
Asia Pacific is the fastest growing region in the green coatings market and is anticipated to
have the highest CAGR over the forecast period, owing to the presence of major markets in
the economies such as India, China, Japan, Thailand, Malaysia, Vietnam, and Indonesia.
The growth of green coatings market in this region is attributed to the growth of end-use
industries namely architectural and automotive coatings in this region. The ‘Make in India’
approach taken by the Government of India is expected to propel the growth of
manufacturing sector, which is anticipated to drive the green coatings market over the
forecast period.
Europe holds the dominant position in green coating market, owing to the economic
development and growing population in the economies such as Spain, Italy, and the UK. The
UK National Infrastructure Delivery have planned infrastructure projects that include airports
and seaports, which in turn is anticipated to fuel the green coatings market over the forecast
period.
North America is anticipated to witness a burgeoning growth in the green coatings market,
owing to the presence of a large number of manufactures in this region. This is backed by
the rising government regulations in this region. The Middle East and Africa are expected to
have a significant growth in the green coatings market, owing to the rise in infrastructure
industry in these regions.
Various strategies are being put forward by coatings manufacturers, for instance,
manufactures of paint are striving to enhance energy system by minimizing consumption of
fuel and minimize waste. This is done with the use of renewable raw materials and product
packaging improvement with materials that are recyclable and use of biofuel fuel in delivery
trucks.
Soy Bean Oil, Vegetable Oil, Castor Oil, and Milk Paint are some of the eco-friendly
components, which are being introduced in the coating materials.
The key companies operating in the global green coatings market include The Sherwin
Williams Company, PPG industries, Akzonobel N.V., Axalta Coating System, BASF, Valspar
Corporation, Kansai Paint Company Limited, Tikkurila OYJ, and Masco Corporation among
others.
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