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Green Coatings Market Size To Witness A Phenomenal Growth Over 2024

Author : Ronak Bora | Published Date : 2019-05-23 

An analysis of green coatings market size has been provided in the latest report introduced by Global Market Insights, Inc. that primarily focuses on the market trends, demand spectrum, and prospects of this industry over the forecast period. Furthermore, the report provides a detailed statistical overview in terms of trends outlining the geographical opportunities and contributions by prominent industry share contenders.

Green Coatings Market size is expected to witness dynamic growth due to its growing usage in end use industries including, automotive, architectural, wood and packaging. Stringent government norms on eco-friendly products and limitations created by REACH, EPA and other healthcare & environmental agencies is projected to fuel industry demand.

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Increasing investments by major players in research & development activity had led to the innovation of green coatings that are non-hazardous. Growth of aviation, automotive and infrastructure industry will provide positive outlook to the industry. With high-tech technologies and government regulations, manufacturers are producing varnishes that have similar performance to that of conventional coverings. Another key factor for the rise in green coatings market is its superior performance relative to other varnishes. The major restraints for green coatings market are the fluctuating raw material prices and easy availability of the product.

Coverings are applied on objects to protect them from corrosion, abrasion, rusting and wear & tear. The product distinct characteristics as they produce low levels of Volatile Organic Compound (VOC) emissions which follow the standards created by environmental bodies. Upsurge in use of UV curing and use of plant based sources to enhance wood coverings will have a positive impact on the industry growth. Green coatings market is divided into waterborne, high-solids, radiation cure and powder coverings. Waterborne coverings are the most commonly used and easily available in the industry due to its increased usage on various appliances. Additionally, low emissions level of VOC from the product, makes it less toxic, thereby impelling the industry growth.

Europe green coatings market is expected to witness exponential growth owning to rise in architectural and automotive industries in this. increased number of marine activities in the region will further support the industry growth. Increased government interventions in using non-hazardous products and rising awareness towards the usage of these products will provide lucrative opportunities to the industry in the region.

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MEA green coatings market will experience significant growth owning increased growing focus towards activities including, roads & highways, education, water & wastewater treatment, infrastructure and social services.

Green coatings market is highly competitive with presence of many regional manufacturers. Some of the key players are Bayer Material Science, DSM, Arkema, Omnova solutions and Allnex. Other prominent industry players including BASF, Nippon, Valspar, PPG, Axalta, Sherwin Williams, Masco, Asian paints and AkzoNobel are involved in this market.

About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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