Green Coating Market Report

Green Coating Market Analysis By Technology (Waterborne, Powder, High Solid, UV Cured), By Region (North America, Europe, Asia Pacific, Central & South America, MEA), And Segment Forecasts, 2014 - 2025

Published: August 2017  |  150 Pages  |  Format: PDF  |  Report ID: GVR-1-68038-571-7

Industry Insights

The global green coating market size was estimated at USD 115.19 billion in 2016. Increasing stringent government regulations associated with VOC is expected to propel demand. Rising demand for waterborne and powder technology to replace solvent borne coatings especially in the architectural and automotive application is expected to drive industry growth.

The industry is highly competitive and fragmented owing to the presence of several major manufacturers. Product quality and pricing are expected to be the key factors influencing buyer’s decision. Increasing government focus towards the environment is expected to propel demand for eco-friendly products, thus driving the green coatings industry trend.

U.S. green coatings market by technology, 2014 - 2025 (USD Million)

U.S. green coatings market

In the U.S., stringent regulations imposed by EPA on the paints and coatings industry to limit VOC is expected to have a positive impact on the industry trend. Innovations done by the automotive manufacturers in the region to use powder and UV cured coatings in vehicle manufacturing is expected to propel product demand.

Capacity expansion, integration, mergers, and product innovation are expected to be the key strategies for these players to sustain in the competition. Fluctuating raw material prices and availability of wide product options by different manufacturers is expected to challenge manufacturers in terms of pricing and profitability.

The industry is governed by various laws and regulations given by the environmental protection agencies and governments across the globe. For instance, in the U.S., it has to comply with OSHA regulations while undergoing deposition process and must adhere to all REACH regulations as they contain hazardous chemicals.

High energy consumption associated with the product manufacturing and use is projected to restrain industry expansion. The manufacturers are expected to invest in R&D to design new products with low cost, less drying time, superior water and chemical resistance in order to tap the consumer attention.

Technology Insights

Waterborne coatings dominated the industry owing to the early adoption of the technology especially in architectural application across the Europe and North America. The technology is expected to grow at a significant rate owing increasing product demand in the automotive and industrial application in the emerging economies including India and Brazil.

The architectural industry was the largest application segment for waterborne coatings, accounting close to 80% of the overall demand in 2016. Increasing infrastructure spending coupled with rising economic development in Asia Pacific and the Middle East are expected to drive market growth over the next eight years.

Global green coatings market, by technology, 2016 (%)

Global green coatings market

High solid coatings are likely to witness a growth of 6.6% from 2017 to 2025, owing to its superior water resistance, cost effectiveness and excellent viscoelastic properties. The demand for high solid coatings was valued at USD 10.01 billion in 2016 and is expected grow on account of its rising demand in aerospace, automotive and packaging application.

Surging demand for domestic appliances including freezer cabinet, washing machine, and microwave oven are expected to augment powder coating industry growth. The demand for the technology for manufacturing consumer goods is expected to grow at a CAGR of 8.1% from 2017 to 2025, owing to changing OEMs preference from liquid coatings to powder coatings.

Regional Insights

Europe is likely to witness growth owing to growing population and economic development in UK, Spain and Italy. Various infrastructure projects including seaports and airports have been planned in UK National Infrastructure Delivery Plan 2016-2021, which are likely to drive the market demand over the next eight years.

India is expected to be the key market for green coatings and is expected to grow at a CAGR of 7.6% from 2017 to 2025. The rapid growth of manufacturing sector in the country owing to the ‘Make in India’ initiative taken by the Indian government is expected to open new avenues for the market over the projected period.

Rising consumer disposable income and changing consumer lifestyle in Brazil is expected to have a positive impact on the construction industry in the region, thereby impacting the green coatings market on a positive note. The government’s efforts to offset the country’s housing deficit, low-interest rates and expanding middle-class population is expected to drive growth.

The Middle East & Africa is expected to witness significant growth owing to rapid urbanization and industrialization in the region. The growth of application industries coupled with the expansion of major coating manufacturers in this region is expected to have a positive impact on the industry trends over the next eight years.

Competitive Insights

Entry of new market players is expected to be limited owing to high investment costs in addition to fluctuating prices of raw materials. Rapid product innovation is expected to pose a threat of forward integration by the raw suppliers. The global presence and business model of such conglomerates is expected to pose a risk to existing market players.

Major coating manufacturing companies try to integrate with domestic players to expand business in the local market and augment their production capacity. Key market participants include AkzoNobel, PPG Industries, Jotun, Kansai Paint, Nippon Paint, Axalta Coating Systems, BASF SE, Valspar Corporation, Sherwin-Williams, and Royal DSM.

Report Scope

Attribute

Details

Base year for estimation

2016

Actual estimates/Historical data

2014 - 2016

Forecast period

2017 - 2025

Market representation                                                

Volume in Kilo Tons, revenue in USD Million and CAGR from 2017 to 2025

Regional scope

North America, Europe, Asia Pacific, Central & South, Middle East & Africa

Country scope

U.S, Germany, UK, China, Japan, India, Brazil

Report coverage             

Revenue forecast, company share, competitive landscape, growth factors and trends

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Segments covered in the report

This report forecasts revenue growth at country levels and provides an analysis on the industry trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, Grand View Research has segmented the green coating market on the basis of technology, and regions:

  • Technology Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2025)

    • Waterborne Coatings, By Application

      • Architectural

      • Industrial

      • High Performance

      • Automotive

      • Wood Coating

      • Packaging

      • Others

    • Powder Coatings, By Application

      • Consumer Goods

      • Architectural

      • Automotive

      • General Industries

      • Furniture

      • Others

    • High Solid Coatings, By Application

      • Industrial

      • Automotive

      • Aerospace

      • Packaging

      • Others

    • UV Cured Coatings, By Application

      • Industrial

      • Automotive

      • Wood Coating

      • Packaging

      • Others

  • Regional Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2025)

    • North America

      • U.S.

    • Europe

      • Germany

      • UK

    • Asia Pacific

      • China

      • India

      • Japan

    • Central & South America

      • Brazil

    • Middle East & Africa

Key questions answered by the report
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