IMARC Group’s report titled “Green Coatings Market Report by Type (Waterborne, Powder, High Solid, UV Cured), Application (Architectural Coatings, Industrial Coatings, Automotive Coatings, Wood Coatings, Packaging Coatings, and Others), and Region 2024-2032”, The global green coatings market size reached USD 89.9 Billion in 2023. Looking forward, IMARC Group expects the market to reach USD 128.5 Billion by 2032, exhibiting a growth rate (CAGR) of 3.9% during 2024-2032.
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Factors Affecting the Growth of the Green Coatings Industry:
- The Growing Emphasis on Sustainability:
In 2024, there is a strong focus on protecting the environment, which is boosting the demand for green coatings. Businesses and consumers want eco-friendly products that are safer for the planet. Green coatings, made with low-VOC (volatile organic compound) content and non-toxic materials, are becoming popular because they reduce air pollution and health risks.
- Stricter Regulatory Standards:
Governments around the world are introducing tougher rules in 2024 to limit harmful chemicals in paints and coatings. These rules are pushing companies to use green coatings, which meet environmental standards and are safer for people. As these regulations get stricter, the demand for green coatings is expected to grow even more.
- The Rise of Bio-Based Coatings:
Bio-based coatings, made from renewable resources like plants, are becoming more common in 2024. These coatings are a greener option compared to traditional ones made from petroleum, as they reduce the use of fossil fuels and are better for the environment. As people become more aware of the benefits of sustainable products, the popularity of bio-based coatings is increasing.
Our report provides a deep dive into the Green Coatings Market analysis, outlining the current trends, underlying market demand, and growth trajectories.
Leading Companies Operating in the Green Coatings Industry:
- 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
Green Coatings Market Report Segmentation:
Breakup by Type:
- Waterborne
- Powder
- High Solid
- UV Cured
Breakup by Application:
- Architectural Coatings
- Industrial Coatings
- Automotive Coatings
- Wood Coatings
- Packaging Coatings
- Others
Regional Insights:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Green Coatings Market Trends:
The green coatings market is growing fast in 2024 due to concerns about the environment, stricter regulations, and more demand for eco-friendly products. Green coatings are being used in industries like cars, construction, and furniture to help create a sustainable future. New technologies, like nanotechnology and biotechnology, are making these coatings even better and more environmentally friendly.
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