Product ID: SQMIG15A2250
Global Green Coating Market Size, Share, Growth Analysis, By Type(Waterborne Coatings, and Powder Coatings.), By Application(Architectural, Industrial) - Industry Forecast 2024-2031
Report ID:
SQMIG15A2250 |
Region:
Global |
Published Date: March, 2024
Pages:
184
|
Tables:
66 |
Figures:
75
Global Green Coating Market Insights
Global Green Coating Market size was valued at USD 129.60 billion in 2022 and is poised to grow from USD 139.45 billion in 2023 to USD 250.56 million by 2031, growing at a CAGR of 7.60% during the forecast period (2024-2031).
The market for green coatings is characterized by intense competition and fragmentation due to the presence of numerous major manufacturers. Factors such as product quality and pricing are anticipated to play a crucial role in influencing buyer decisions. The growing emphasis of governments on environmental concerns is projected to drive the demand for eco-friendly products, leading to a rising trend in the green coatings industry. In the U.S., stringent regulations enforced by the EPA to limit volatile organic compounds (VOCs) in the paints and coatings sector are expected to positively impact industry dynamics. Notably, automotive manufacturers in the region are innovating by incorporating powder and UV cured coatings in vehicle production, thereby boosting product demand.
Market players are likely to adopt strategies such as capacity expansion, integration, mergers, and product innovation to maintain competitiveness. The industry faces challenges related to fluctuating raw material prices and the wide array of product options offered by various manufacturers, which impact pricing and profitability.
Global regulations and laws, particularly those from environmental protection agencies and governments, significantly shape the industry landscape. For instance, adherence to OSHA regulations during the deposition process and compliance with REACH regulations for hazardous chemicals is imperative in the U.S.
Despite these trends, the industry faces the constraint of high energy consumption associated with manufacturing and product use. Manufacturers are expected to invest in research and development to create new products that offer cost efficiency, reduced drying time, and superior resistance to water and chemicals, aiming to capture consumer attention.
US Green Coating Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Green Coating Market Report Snapshots
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