“Green Coatings Global Market Report 2023 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on green coatings market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
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- Measure the impact of high global inflation on market growth.
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Where is the largest and fastest growing market for green coatings? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The green coatings market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include:
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Scope
Markets Covered:
- 1) By Type: Waterborne Coatings; Powder Coatings; High-Solids Coatings; Radiation Cure Coatings
- 2) By Source: Vegetable Oil; Soy Bean; Castor Oil; Clay; Other Sources
- 3) By End-Use Industry: Industrial; Architectural; Automotive; Packaging; Other End-Use Industries
- Companies Mentioned: Akzo Nobel NV; Axalta Coating Systems Ltd.; BASF SE; PPG Industries Inc.; The Sherwin Williams Company
- Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA
- Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
- Time series: Five years historic and ten years forecast.
- Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
- Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
- Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
- Delivery format: PDF, Word and Excel Data Dashboard.
Executive Summary
Major players in the green coatings market are: Akzo Nobel NV, Axalta Coating Systems Ltd., BASF SE, PPG Industries Inc., The Sherwin Williams Company, Asian Paints Limited, Jotun AS, Nippon Paint Holdings Co Ltd., Berger Paints Ltd., Kansai Paint Co Ltd., RPM International Inc., Covestro AG, Masco Corporation, Henkel AG & Co KGaA, Arkema SA, Lifetime Green Coatings LLC, and GLOBAL Encasement Inc.
The global green coatings market is expected to grow from $87.42 billion in 2022 to $95.34 billion in 2021 at a compound annual growth rate (CAGR) of 9.05%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The green coatings market is expected to reach $129.59 billion in 2027 at a CAGR of 7.98%.
The green coating market consists of sales of UV cured coatings. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
Green coatings refer to coatings that are beneficial to the environment and produce essentially no volatile organic compounds (VOCs) and are derived from natural sources such as vegetable oil, soybean, castor oil, milk, and clay to reduce chemical content in paints. The green coatings are used to protect the surfaces of the roof and siding from UV deterioration and normal weathering and improve the efficiency of equipment employed in various industries, such as construction, automotive, oil and gas, mining, aviation, aerospace, and marine.
Europe was the largest region in the green coatings market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the green coatings market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of green coatings are waterborne coatings, powder coatings, high-solids coatings, and radiation cure coatings. Waterborne coatings refer to paint based on water as a solvent to emulsify pigments and binders. Waterborne coatings used to develop eco-friendly paint and reduce pollution. The green coatings are sourced from vegetable oil, soy bean, castor oil, clay, and other sources and used by industrial, architectural, automotive, packaging, and other end-use industries.
Significant growth in the construction industry is expected to propel the green coating market. The construction industry refers to the commercial sector of manufacturing and trade that deals with creating, maintaining, and repairing infrastructures. The construction industry is growing with the demand for green buildings that require bio-based paints and coatings to protect the environment and reduce pollution. For instance, according to data published by the United States Census Bureau, a US-based Federal Statistical agency, the total spending on industrial construction in the US was $1,762.3 billion in June 2022. According to PolicyAdvice, a United Kingdom-based company that provides insurance information, the total average annual spending on industrial construction in the US is $1.23 billion. Therefore, significant growth in the construction industry is anticipated to fuel the market in the upcoming years.
Innovations in bio-based materials are the key trend gaining popularity in the green coating market. Major players are concentrating on creating innovative bio-based materials to reduce environmental pollution. For instance, in February 2020, Cortec Corporation, a US-based corrosion control technology company specialising in developing and manufacturing innovative environmentally friendly coatings, launched EcoAir® Biobased Outdoor Coating based on Nano VpCI® corrosion inhibitor. This biobased coating is a suitable replacement for petroleum-based coatings to reduce environmental pollution and is designed for marine and high-humidity operations to reduce health concerns and protect metal surfaces from corrosion.
In April 2022, The Sherwin-Williams Company, a US-based manufacturer of paints, coatings, floor coverings, and related products, acquired the industrial coatings business of Sika AG for an undisclosed amount. The acquisition will support Sherwin-Williams Company's growth and profitability goals by providing additional manufacturing and service capabilities. Sika AG is a Swiss multinational chemicals company that manufactures bio-based coatings.
The countries covered in the Green Coatings market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The green coatings market research report is one of a series of new reports from The Business Research Company that provides green coatings market statistics, including green coatings industry global market size, regional shares, competitors with a green coatings market share, detailed green coatings market segments, market trends and opportunities, and any further data you may need to thrive in the green coatings industry. This green coatings market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Table of Contents
1. Executive Summary
2. Green Coatings Market Characteristics
3. Green Coatings Market Trends And Strategies
4. Green Coatings Market - Macro Economic Scenario
- 4.1. COVID-19 Impact On Green Coatings Market
- 4.2. Ukraine-Russia War Impact On Green Coatings Market
- 4.3. Impact Of High Inflation On Green Coatings Market
5. Green Coatings Market Size And Growth
- 5.1. Global Green Coatings Historic Market, 2017-2022, $ Billion
- 5.1.1. Drivers Of The Market
- 5.1.2. Restraints On The Market
- 5.2. Global Green Coatings Forecast Market, 2022-2027F, 2032F, $ Billion
- 5.2.1. Drivers Of The Market
- 5.2.2. Restraints On the Market
6. Green Coatings Market Segmentation
- 6.1. Global Green Coatings Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Waterborne Coatings
- Powder Coatings
- High-Solids Coatings
- Radiation Cure Coatings
- 6.2. Global Green Coatings Market, Segmentation By Source, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Vegetable Oil
- Soy Bean
- Castor Oil
- Clay
- Other Sources
- 6.3. Global Green Coatings Market, Segmentation By End-Use Industry, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Industrial
- Architectural
- Automotive
- Packaging
- Other End-Use Industries
7. Green Coatings Market Regional And Country Analysis
- 7.1. Global Green Coatings Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 7.2. Global Green Coatings Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
8. Asia-Pacific Green Coatings Market
- 8.1. Asia-Pacific Green Coatings Market Overview
- Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
- 8.2. Asia-Pacific Green Coatings Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 8.3. Asia-Pacific Green Coatings Market, Segmentation By End-Use Industry, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
9. China Green Coatings Market
- 9.1. China Green Coatings Market Overview
- 9.2. China Green Coatings Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F,$ Billion
- 9.3. China Green Coatings Market, Segmentation By End-Use Industry, Historic and Forecast, 2017-2022, 2022-2027F, 2032F,$ Billion
10. India Green Coatings Market
- 10.1. India Green Coatings Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 10.2. India Green Coatings Market, Segmentation By End-Use Industry, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
11. Japan Green Coatings Market
- 11.1. Japan Green Coatings Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 11.2. Japan Green Coatings Market, Segmentation By End-Use Industry, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
12. Australia Green Coatings Market
- 12.1. Australia Green Coatings Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 12.2. Australia Green Coatings Market, Segmentation By End-Use Industry, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
13. Indonesia Green Coatings Market
- 13.1. Indonesia Green Coatings Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 13.2. Indonesia Green Coatings Market, Segmentation By End-Use Industry, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
14. South Korea Green Coatings Market
- 14.1. South Korea Green Coatings Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 14.2. South Korea Green Coatings Market, Segmentation By End-Use Industry, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
15. Western Europe Green Coatings Market
- 15.1. Western Europe Green Coatings Market Overview
- 15.2. Western Europe Green Coatings Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 15.3. Western Europe Green Coatings Market, Segmentation By End-Use Industry, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
16. UK Green Coatings Market
- 16.1. UK Green Coatings Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 16.2. UK Green Coatings Market, Segmentation By End-Use Industry, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
17. Germany Green Coatings Market
- 17.1. Germany Green Coatings Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 17.2. Germany Green Coatings Market, Segmentation By End-Use Industry, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
18. France Green Coatings Market
- 18.1. France Green Coatings Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 18.2. France Green Coatings Market, Segmentation By End-Use Industry, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
19. Eastern Europe Green Coatings Market
- 19.1. Eastern Europe Green Coatings Market Overview
- 19.2. Eastern Europe Green Coatings Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 19.3. Eastern Europe Green Coatings Market, Segmentation By End-Use Industry, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
20. Russia Green Coatings Market
- 20.1. Russia Green Coatings Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 20.2. Russia Green Coatings Market, Segmentation By End-Use Industry, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
21. North America Green Coatings Market
- 21.1. North America Green Coatings Market Overview
- 21.2. North America Green Coatings Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 21.3. North America Green Coatings Market, Segmentation By End-Use Industry, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
22. USA Green Coatings Market
- 22.1. USA Green Coatings Market Overview
- 22.2. USA Green Coatings Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 22.3. USA Green Coatings Market, Segmentation By End-Use Industry, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
23. South America Green Coatings Market
- 23.1. South America Green Coatings Market Overview
- 23.2. South America Green Coatings Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 23.3. South America Green Coatings Market, Segmentation By End-Use Industry, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
24. Brazil Green Coatings Market
- 24.1. Brazil Green Coatings Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 24.2. Brazil Green Coatings Market, Segmentation By End-Use Industry, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
25. Middle East Green Coatings Market
- 25.1. Middle East Green Coatings Market Overview
- 25.2. Middle East Green Coatings Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 25.3. Middle East Green Coatings Market, Segmentation By End-Use Industry, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
26. Africa Green Coatings Market
- 26.1. Africa Green Coatings Market Overview
- 26.2. Africa Green Coatings Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 26.3. Africa Green Coatings Market, Segmentation By End-Use Industry, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
27. Green Coatings Market Competitive Landscape And Company Profiles
- 27.1. Green Coatings Market Competitive Landscape
- 27.2. Green Coatings Market Company Profiles
- 27.2.1. Akzo Nobel NV
- 27.2.1.1. Overview
- 27.2.1.2. Products and Services
- 27.2.1.3. Strategy
- 27.2.1.4. Financial Performance
- 27.2.2. Axalta Coating Systems Ltd.
- 27.2.2.1. Overview
- 27.2.2.2. Products and Services
- 27.2.2.3. Strategy
- 27.2.2.4. Financial Performance
- 27.2.3. BASF SE
- 27.2.3.1. Overview
- 27.2.3.2. Products and Services
- 27.2.3.3. Strategy
- 27.2.3.4. Financial Performance
- 27.2.4. PPG Industries Inc.
- 27.2.4.1. Overview
- 27.2.4.2. Products and Services
- 27.2.4.3. Strategy
- 27.2.4.4. Financial Performance
- 27.2.5. The Sherwin Williams Company
- 27.2.5.1. Overview
- 27.2.5.2. Products and Services
- 27.2.5.3. Strategy
- 27.2.5.4. Financial Performance
28. Key Mergers And Acquisitions In The Green Coatings Market
29. Green Coatings Market Future Outlook and Potential Analysis
30. Appendix
- 30.1. Abbreviations
- 30.2. Currencies
- 30.3. Historic And Forecast Inflation Rates
- 30.4. Research Inquiries
- 30.5. The Business Research Company
- 30.6. Copyright And Disclaimer