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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global Green Coatings Market Size
The global green coatings market reached approximately USD 108.78 billion in 2023. The market is estimated to grow at a CAGR of 4.8% in the forecast period of 2024-2032, reaching a value of around USD 164.94 billion by 2032.
Key Trends in the Market
Green coating refers to eco-friendly coating that emits negligible VOC (volatile organic compounds) and other pollutants as compared to conventional coating. This coating has a minimal impact on the environment and human health and finds application in the automotive, architectural, and industrial sectors, among others.
- The growing preference for water-based coatings, which primarily use water as a solvent and are more environmentally friendly compared to other solvent-based coatings, is one of the crucial green coatings market trends.
- UV-curable coating is gaining prominence as a sustainable solution in various end-use sectors as it possesses high curing speed and minimal VOC content. The excellent scratch resistance and energy efficiency of such coatings are further expected to bolster their usage in applications like electric vehicles (EVs) in the forecast period.
- The surge in demand for green or bio-derived resins that are composed of renewable sources such as vegetable oil or alcohol of vegetable origin, among others, and have low carbon footprints also contributes to the green coatings market growth.
- The advent of radiation cure technology in paints and coating, which enhances their chemical and mechanical properties and lowers their VOC content, is another prominent trend that aids in the market expansion.
Green Coatings Market Report Snapshots
Green Coatings Market Analysis
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the market reached an approximate value of USD 108.78 billion.
The market is projected to grow at a CAGR of 4.8% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032, reaching a value of around USD 164.94 billion by 2032.
The major market drivers are the growth of the construction sector, stringent regulatory standards regarding the usage of VOC-based paint and coatings, and growing awareness regarding the harmful effects of VOC.
The key trends of the market include the growing usage of water-based coatings, increased prominence of UV-curable coating, the surge in demand for green or bio-derived resins, and the advent of radiation cure technology in coatings.
The major regions in the market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
Various types are water-borne, powder, high-solids, and UV-cured coatings.
The key players in the market are Akzo Nobel N.V., PPG Industries, Inc., Solvay SA, Nippon Paint Holdings Co., Ltd., Axalta Coating Systems, LLC, Evonik Industries AG, The Sherwin-Williams Company, Arkema SA, DAW SE, and Lifetime Green Coatings, among others.
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+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61 448 06 17 27
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63 287899028, +63 967 048 3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84865399124