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Green Coatings Global market Report 2024 : Market Size, Trends, And Global Forecast 2024-2033
The Business Research Company's Green Coatings Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
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LONDON, GREATER LONDON, UNITED KINGDOM, October 7, 2024 /EINPresswire / -- The green coatings market has experienced robust growth in recent years, expanding from $94.07 billion in 2023 to $102.28 billion in 2024 at a compound annual growth rate (CAGR) of 8.7%. The growth in the historic period can be attributed to environmental regulations, consumer awareness, government initiatives, shift toward sustainable practices, corporate sustainability goals, renewable resources in coating formulations.
What Is The Estimated Market Size Of The Global Green Coatings Market And Its Annual Growth Rate?
The green coatings market is projected to continue its strong growth, reaching $138.72 billion in 2028 at a compound annual growth rate (CAGR) of 7.9%. The growth in the forecast period can be attributed to economic incentives for green products, growing eco-friendly construction, demand from automotive sector, bio-based resins and polymers, shift to water-based coatings, climate change mitigation strategies.
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Growth Driver of The Green Coatings Market
The growing automotive industry is expected to propel the growth of the green coatings market going forward. The automotive industry refers to a wide range of companies and organizations involved in the design, development, manufacturing, marketing, selling, repairing, and modification of motor vehicles. Green coatings are environmentally friendly coatings that are used in a variety of industries, including the automotive sector. These are environmentally friendly coatings that are used in the automotive industry to protect vehicles, enhance aesthetics, ensure regulatory compliance, and improve health and safety conditions for workers during application and for occupants of coated surfaces.
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Which Market Players Are Driving The Green Coatings Market Growth ?
Key players in the market include Akzo Nobel NV, Axalta Coating Systems Ltd., BASF SE, PPG Industries Inc., The Sherwin Williams Company, Arkema Group, Asian Paints Limited, Berger Paints India Limited, Jotun A/S, Hempel A/S, Nippon Paint Holdings Co. Ltd., RPM International Inc., Kansai Paint Co. Ltd., Tikkurila Oyj, Sika AG, Valspar Corporation, The Dow Chemical Company, KCC Corporation, DAW SE, Eastman Chemical Company, BioShield Technologies Inc., Green Planet Paints, ECOS Paints, AFM Safecoat, Mythic Paint, Old Fashioned Milk Paint Co., Livos, Earthborn Paints, Auro Naturfarben, Lanxess AG.
What Are The Key Trends That Influence Green Coatings Market Share Analysis?
Major companies operating in the market are focused on introducing advanced and environment-friendly polyurethane solutions to gain a competitive edge in the market. An environmentally friendly polyurethane solution is a type of polyurethane coating that is derived from renewable sources such as plant oils, biomass, and agricultural waste. These coatings are considered more environmentally friendly as they reduce greenhouse gas emissions and dependence on fossil fuels.
How Is The Global Green Coatings Market Segmented?
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
Geographical Insights: Europe Leading The Green Coatings Market
Europe was the largest region in the market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Green Coatings Market Definition
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.
Green Coatings Global Market Report 2024 from The Business Research Company covers the following information:
.Market size data for the forecast period: Historical and Future
.Macroeconomic factors affecting the market in the short and long run
.Analysis of the macro and micro economic factors that have affected the market in the past five years
.Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
.Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
An overview of the global green coatings market report covering trends, opportunities, strategies, and more
The Green Coatings Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on green coatings market size, green coatings market drivers and trends, green coatings market major players and green coatings market growth across geographies. This report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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