The global "Green Coatings Market is estimated to be USD 123.6 billion in 2022 and is projected to reach USD 155.9 billion by 2027, at a CAGR of 4.8% between 2020 to 2027, as per the recent study by MarketsandMarkets™. The Green Coatings industry refers to the production and application of environmentally friendly coatings that minimize the negative impact on human health and the environment. These coatings are designed to have lower levels of volatile organic compounds (VOCs), reduced carbon emissions, and improved sustainability throughout their lifecycle.

Green Coatings Market trends include:

1. Building and Construction: Green coatings are used in architectural, protective, and flooring coatings for sustainable buildings.

2. Automotive: The automotive industry is adopting green coatings to reduce VOC emissions during manufacturing and painting processes.

3. Furniture and Wood Coatings: Green coatings provide a protective and decorative finish with low toxicity for wood products.

4. Packaging: Green coatings are used on various packaging materials for sustainability and improved recyclability.

5. Industrial Equipment and Machinery: Green coatings protect equipment and machinery from corrosion and chemical exposure.

6. Marine and Offshore: Green coatings protect ships, offshore platforms, and underwater structures with reduced environmental impact.

7. Aerospace: Green coatings are used for aircraft exteriors and interiors, complying with strict VOC regulations.

8. Renewable Energy: Green coatings enhance efficiency and durability in solar panels, wind turbine blades, and energy storage systems.

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Browse in-depth TOC on " Green Coatings Market”

189 - Market Data Tables

56 - Figures

246 - Pages

List of Key Players in Green Coatings Market:

1. AkzoNobel N.V. (Netherlands)
2. PPG Industries (US)
3. Axalta Coating Systems (US)
4. BASF SE (Germany)
5. The Sherwin-Williams Company (US)

Axalta Coating Systems, LLC is a global manufacturer, distributor, and marketer of high-performance coatings, focusing on colorful, innovative, and sustainable solutions. The company operates through two operating segments, Performance Coatings and Mobility Coatings. It provides green coatings i.e. waterborne or powder coatings through the Performance Coating segment.

PPG Industries, Inc. specializes in manufacturing and distributing coating, paints, and specialty material. The company operates through two reportable segments: Industrial Coatings and Performance Coatings. Industrial coatings include Automotive OEM Coatings, Industrial coatings, Packaging Coatings, Specialty Coatings and Materials. Performance Coatings includes Aerospace Coatings, Architectural Coatings Americas and Asia Pacific, Architectural Coatings Europe, Middle East and Africa (EMEA), Automotive Refinish Coatings, Protective and Marine Coatings, and Traffic Solutions.

Drivers, Restraints, Opportunities and Challenges in Green Coatings Market:

1. Drivers: Increasing focus on health and sustainability brings “going green” idea into greater limelight
2. Restraints: Availability and cost of specialized raw materials needed for green coatings
3. Opportunities: Rising demand for renewable raw materials
4. Challenges: To develop synthetic technologies that possess little or no toxicity to human health and environment

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Key Findings of the Study:

1. Wood coatings is the second fastest-growing segment of the overall green coatings market.
2. China is the largest green coatings market in Asia Pacific during the forecast period.

Wood Coatings Is The Second Fastest-Growing Segment Of The Overall Green Coatings Market.

Green wood coatings are setting a high standard in the industry for being highly sustainable, quality products. They provide high hardness, chemical resistance, and light resistance, along with environmentally friendly industrial processability. Water-based wood coatings offer faster drying times as compared to solvent-based coatings. Polishes and water repellents are among the most used wood coatings due to their high effectiveness. They are supposed to provide greater non-yellowing properties.

The use of powder coatings on wood is growing significantly. By developing powders with low-heat requirements and a uniform-density wood product, wood manufacturers and their customers are now able to powder-coat a wide range of wood products. Manufacturers of home-office furniture, kitchen cabinets, childrens furniture, and outdoor grill tables have identified the importance of green coatings considering their various health-related benefits.

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China is the largest green coatings market in Asia Pacific during the forecast period.

China is the world’s largest producer and consumer of coatings. Many major players are investing in the country to build new manufacturing facilities due to cheap labor and cheap & accessible raw materials. AkzoNobel N.V. has strengthened its distribution network in Mainland China by expanding into 40 new cities and 1,000 additional stores. The green coatings market in China is driven by rising demand from housing activities, new construction and renovation activities, government, and private investment in residential and non-residential projects, and growing consumer spending power. Increasing population, improved lifestyle, economical labor, and restructured environmental regulations are expected to fuel the demand for architectural application in China.