Green Coating Market Future Scope, Size, Opportunities, Challenges, Drivers, Growth, Countries, Revenue, Regional Outlook, Industry Share and Trends Analysis by 2027
Global Green Coating Market - Overview
Despite many advances, biomaterial-associated
infections continue to be a major clinical problem. In order to minimize
bacterial adhesion, material surface modifications are currently being
investigated and natural products possess large potential for the design of
innovative surface coatings. Since technology and advanced research has helped
with the evolution and development of better, healthier paint, coating
companies are now turning to environment-friendly ingredients as the main
component of their coating material to improve the health and environment for
their consumers and their employees
Going green has become popular with professionals in
the painting industry, and professionals are keeping up with the interest in
green coatings, both by acknowledging the demand aspect as well as from the
perspective of meeting regulations by specifying the appropriate product.
Coating industry witnesses an increase in the use of eco-friendly materials as
a part of green or sustainable chemistry in last few years owing to
increasingly strict environmental regulations, growth in popularity of green
building standards, and rise in consumer awareness for sustainable products.
Green
Coating Market segmented on the
basis of Type (Powder Coatings, Radiation Cure Coatings, Waterborne Coatings
and High Solids Coating). On the basis Type, Powder technology is expected to
grow at rapid pace in the forecasted period, on account of its superior
properties including zero VOC, superior corrosion resistance, reduced drying
time and high-quality finish. Initiatives taken by the industry players to
manufacture environmentally friendly products in order to comply with
regulatory norms including EU's VOC Regulation and U.S. EPA's Clean Act is
expected to propel industry growth. By Application (Industrial, Architectural,
Automotive, Packaging and others.). The architectural application is the most
prevalent and attractive segment owing to increase in global infrastructure
spending for residential & commercial sectors.
Global Green Coating market is growing with the rapid
pace; mainly due to advancement in technologies. The major drivers of growth
for this market are growth in end-use industries, stringent environmental
regulations, and growing awareness towards volatile organic compounds (VOC)
emissions. According to a recent study report published by the Market Research
Future, The global market of Green Coating is booming and expected to gain
prominence over the forecast period. The market is forecasted to demonstrate a
stunning growth by 2023, surpassing its previous growth records in terms of
value with a striking CAGR during the estimated period (2017 – 2023).
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Green Coating Market
- Competitive Analysis
Green Coating market appears to be competitive with
the presence of several large and small players operating in the Green Coating
Market. These Key players compete based upon pricing, quality, Technology and
reputation. Green Coating market demonstrates a high growth potential which is
likely to attract many entrants to the market resulting in to intensified
competition further. Moreover, manufacturers mainly ensure to deliver the best
quality products based on innovative technologies, and best practices.
Industry Overview:
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.
Green Coating Market
- Segments:
Global Green Coating Market is segmented in to 3 Key
dynamics for an easy grasp and enhanced understanding.
Segmentation by Type: Powder Coatings, Radiation Cure Coatings,
Waterborne Coatings and High Solids Coating
Segmentation by
Application: Industrial, Architectural, Automotive, Packaging and
others.
Segmentation by
Regions: Comprises Geographical regions - North America,
Europe, APAC and Rest of the World.
Green Coating Market
- Regional Analysis
Asia-Pacific is expected to witness the highest growth
and will remain the largest market during the forecast period, supported by
growth of end-use industries and increasing awareness of the benefits of green
coatings. Asia Pacific is expected to witness highest growth and will remain
the largest market during the forecast period supported by growth of end use
industries and increasing awareness about the benefits of green coatings
market. Moreover, emerging trends, which have a direct impact on the dynamics
of the green coatings industry, include the increasing use of ultraviolet
curing coating, and use of plant-based sources to develop wood coatings.
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