Sustainable Industrial Coatings: Market Trends and Prospects

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• Market Dynamics of Green Coatings Key Factors
  Influencing Growth
• The global "Green Coatings Market is estimated to
  be USD 123.6 billion in 2022 and is projected to
  reach USD 155.9 billion by 2027, at a CAGR of
  4.8 between 2020 to 2027, as per the recent
  study by MarketsandMarkets. The Green Coatings
  industry refers to the production and
  application of environmentally friendly coatings
  that minimize the negative impact on human
  health and the environment. These coatings are
  designed to have lower levels of volatile
  organic compounds (VOCs), reduced carbon
  emissions, and improved sustainability
  throughout their lifecycle.
• Green Coatings Market trends include
• Building and Construction Green coatings are
  used in architectural, protective, and flooring
  coatings for sustainable buildings.
• Automotive The automotive industry is adopting
  green coatings to reduce VOC emissions during
  manufacturing and painting processes.
• Furniture and Wood Coatings Green coatings
  provide a protective and decorative finish with
  low toxicity for wood products.
• Packaging Green coatings are used on various
  packaging materials for sustainability and
  improved recyclability.
• Industrial Equipment and Machinery Green
  coatings protect equipment and machinery from
  corrosion and chemical exposure.
• Marine and Offshore Green coatings protect
  ships, offshore platforms, and underwater
  structures with reduced environmental impact.
• Aerospace Green coatings are used for aircraft
  exteriors and interiors, complying with strict
  VOC regulations.
• Renewable Energy Green coatings enhance
  efficiency and durability in solar panels, wind
  turbine blades, and energy storage systems.
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• Browse in-depth TOC on " Green Coatings Market
  189 - Market Data Tables
• 56 - Figures

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• List of Key Players in Green Coatings Market
• AkzoNobel N.V. (Netherlands)
• PPG Industries (US)
• Axalta Coating Systems (US)
• BASF SE (Germany)
• The Sherwin-Williams Company (US)

• Axalta Coating Systems, LLC is a global
  manufacturer, distributor, and marketer of high-
  performance coatings, focusing on Colorful,
  innovative, and sustainable solutions. The
  company operates through two operating segments,
  Performance Coatings and Mobility Coatings. It
  provides green coatings i.e. waterborne or powder
  coatings through the Performance Coating
  segment.
• PPG Industries, Inc. specializes in manufacturing
  and distributing coating, paints, and specialty
  material. The company operates through two
  reportable segments Industrial Coatings and
  Performance Coatings. Industrial coatings include
  Automotive OEM Coatings, Industrial coatings,
  Packaging Coatings, Specialty Coatings and
  Materials. Performance Coatings includes
  Aerospace Coatings, Architectural Coatings
  Americas and Asia Pacific, Architectural
  Coatings Europe, Middle East and Africa (EMEA),
  Automotive Refinish Coatings, Protective and
  Marine Coatings, and Traffic Solutions.
• Drivers, Restraints, Opportunities and Challenges
  in Green Coatings Market
• Drivers Increasing focus on health and
  sustainability brings going green idea into
  greater limelight
• Restraints Availability and cost of specialized
  raw materials needed for green coatings
• Opportunities Rising demand for renewable raw
  materials
• Challenges To develop synthetic technologies
  that possess little or no toxicity to human
  health and environment
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• Key Findings of the Study
• Wood coatings is the second fastest-growing
  segment of the overall green coatings market.
• China is the largest green coatings market in
  Asia Pacific during the forecast period.
• Wood Coatings Is The Second Fastest-Growing
  Segment Of The Overall Green Coatings Market.
• Green wood coatings are setting a high standard
  in the industry for being highly sustainable,
  quality products. They provide high hardness,
  chemical resistance, and light resistance, along
  with environmentally friendly industrial
  processability. Water-based wood coatings offer
  faster drying times as compared to solvent-based
  coatings. Polishes and water repellents are
  among the most used wood coatings due to their
  high effectiveness. They are supposed to provide
  greater non-yellowing properties.
• The use of powder coatings on wood is growing
  significantly. By developing powders with
  low-heat requirements and a uniform-density wood
  product, wood manufacturers and their customers
  are now able to powder-coat a wide range of wood
  products. Manufacturers of home-office
  furniture, kitchen cabinets, childrens
  furniture, and outdoor grill tables have
  identified the importance of green coatings
  considering their various health-related
  benefits.
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• China is the largest green coatings market in
  Asia Pacific during the forecast period.
• China is the worlds largest producer and
  consumer of coatings. Many major players are
  investing in the country to build new
  manufacturing facilities due to cheap labor and
  cheap accessible raw materials. AkzoNobel N.V.
  has strengthened its distribution network in
  Mainland China by expanding into 40 new cities
  and 1,000 additional stores. The green coatings
  market in China is driven by rising demand from
  housing activities, new construction and
  renovation activities, government, and private
  investment in residential and non-residential
  projects, and growing consumer spending power.
  Increasing population, improved lifestyle,
  economical labor, and restructured environmental
  regulations are expected to fuel the demand for
  architectural application in China.