What Has Been the Growth Trajectory of the Green Coatings Market?
The green coatings market has seen considerable growth due to a variety of factors.
• Over the past few years, the green coatings market has seen significant expansion. The market size is projected to increase from $101.62 billion in 2024 to $110.17 billion in 2025, showing a compound annual growth rate (CAGR) of 8.4%. Factors such as environmental rules, consumer consciousness, governmental initiatives, a shift to sustainable practices, corporate sustainability objectives, and the use of renewable resources in coating formulations have contributed to this growth in the past.
What Can Be Expected from the Green Coatings Market Size Evolve over the Forecast Period?
The Green Coatings market is expected to maintain its strong growth trajectory in upcoming years.
• In the coming years, the green coatings market size is projected to witness significant expansion. It is anticipated to increase to $151.16 billion in 2029, growing at a compound annual growth rate (CAGR) of 8.2%.
This growth during the predicted period can be attributed to factors such as economic rewards for green products, expansion in eco-friendly construction, demand from the automotive sector, use of bio-based resins and polymers, transition to water-based coatings, and strategies to combat climate change. Noticeable trends during this period include necessity for low VOC and VOC-free compositions, integration of UV-curable coatings, advances in nanotechnology for coatings, partnerships among industry stakeholders, and a move towards powder coatings.
What Are the Critical Driver Fuelling The Green Coatings Market's Growth?
The green coating market is predicted to be buoyed by a surge in the construction industry. This industry, that belongs to the commercial domain of manufacturing and trading and focuses on the fabrication, preservation, and improvement of infrastructure, has seen an increase due to the rise in demand for eco-friendly establishments. Such buildings necessitate the use of organic paints and coatings in order to minimize pollution and safeguard the environment. For example, the United States Census Bureau, an American federal statistics agency, revealed that industrial construction spending in the United States reached $1,762.3 billion in June 2022. PolicyAdvice, a UK-based corporation offering insurance information, states that the total average annual expenditure on industrial construction in the US stands at $1.23 billion. As such, the green coating market is expected to be stimulated by this considerable expansion in the construction sector in the forthcoming years.
How Is The Green Coatings Market segmented?
The green coatings market covered in this report is 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
Subsegments:
1) By Waterborne Coatings: Acrylic Coatings, Alkyd Coatings, Epoxy Coatings
2) By Powder Coatings: Thermoset Powder Coatings, Thermoplastic Powder Coatings
3) By High-Solids Coatings: High-Solid Acrylics, High-Solid Polyurethanes
4) By Radiation Cure Coatings: UV-Curable Coatings, Electron Beam-Curable Coatings
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What New Trends Are Influencing The Green Coatings Market?
Leading businesses in the green coatings industry are putting their efforts into creating advanced biosurfactants. These are designed to augment the efficiency of waterborne coatings and inks, with the goal of heightening sustainability, minimizing environmental damage, and enhancing longevity, while still adhering to high-quality and safety measures. Biosurfactants are essentially surface-active elements extracted from microorganisms such as bacteria, yeast, and fungi and meet EU Ecolabel standards, thus proving their appropriateness for eco-friendly usage. The process of manufacturing these substances results in an extremely low quantity of volatile organic compounds (VOCs), making them less detrimental to human wellness and the environment. To exemplify, Evonik Industries AG, a firm based in Germany, introduced TEGO Wet 570 Terra and TEGO Wet 580 Terra in September 2024. Both these substances, which are entirely derived from nature and processed through a one-of-a-kind fermentation procedure involving microorganisms, stand out from traditional fossil-based surfactants.
Who Are the Key Players In The Green Coatings Market?
Major companies operating in the green coatings 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 Is The Most Dominant Region In The Green Coatings Market?
Europe was the largest region in the green coatings market in 2024. 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, Africa.
