Green Coatings Market by Type (Waterborne Coatings, Powder Coatings, High-Solids Coatings, and Radiation Cure Coatings) and Application (Architectural Coatings, Industrial Coatings, Automotive Coatings, Wood Coatings, Packaging Coatings, and Other Coatings) – Global Opportunity Analysis and Industry Forecast, 2017–2023." The report offers an extensive analysis of changing market dynamics, top winning strategies, market size & projections, and competitive landscape. According to the report, global green coatings market garnered $84.67 billion in 2017, and is estimated to reach $118.99 billion by 2023, growing at a CAGR of 5.8% from 2017 to 2023.
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In the last few years, there have been a fair amount of strict regulations enforced by several government bodies across the world. This, in turn, has fueled the market growth in more than one way. Also, emergence of several health care supports such as EPA and REACH has supplemented the growth yet more. Also, rise in awareness toward VOC radiations has been beneficial to the market growth.
Green coatings come up as a smart solution in terms of preventing toxic exposure to the environment. Many issues related to interior building are caused by the undesirable permeation of natural components and pollutants that can give way to unwanted infections and diseases. And, most of these challenges and trials can just be stopped and checked with the right type of coating.
Now the question remains how. Well, this can be done by sticking down the outward surface with an all-in-one membrane, thus helping it become watertight and resilient to harsh weather and ultraviolet rays. This, in turn, however, paves the way for a better environment for the inside construction. Green coatings encasements that are of high-end quality tend to create a chemically strong & sturdy crust.
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The more external components damage one's property, the more they need to embrace defensive feats in every probable way to safeguard the respective buildings. Green coatings encasements are now considered as a highly defensive building protection means, which is required to be deployed in place especially before natural disasters hit the roof. It comes with the very potential to provide the building surfaces with the finest protection against natural calamities such as high-wind storms like sand storm, hail storm, tornedo, hurricane, cyclone, and so on.
But then, not all health coercions are triggered by natural elements. Some building modules are unsafe in terms of health, including one's roof top. SBS, also known as Sick Building Syndrome, is a comprehensive term to define residential, commercial, and industrial establishments that are exposed to environmental hazards, which can give way to BRI or Building Related Illness. BRI is often instigated by exposure to menacing or precarious materials including lead-based paint and asbestos. With green coating encasement on board, the hazardous tools & tackles can be easily secured, removing the source of exposure instantaneously.
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At the same time, utilization of green coatings also safeguards the environment through energy efficacy. Pulling down the unwanted heat is, nevertheless, the prime way to protect the environment. All the ridges and roofs can be hastily converted into solar reflective. And, with this, one can redirect the heat away from the building. This helps keep the establishment much cooler, and it also calls for significant less energy to cool down.
Frontrunners in the industry
Key market players analyzed in the report are AkzoNobel NV, Axalta Coating System, Asian Paints Limited, Berger Paints India Limited, BASF SE, Hempel A/S, Deutsche Amphibolin Works Se (Daw), PPG Industries, Jotun A/S, and The Sherwin-Williams Company.
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