A) Market Overview:
The Green Coatings Market refers to environmentally friendly coatings that reduce or eliminate the use of hazardous materials or chemicals during the coating process. These coatings are widely used in various industries such as automotive, construction, packaging, and others. They offer several benefits, including low VOC emissions, reduced carbon footprint, and improved indoor air quality. With increasing awareness about environmental sustainability and stringent regulations, the demand for green coatings is expected to witness high growth.
The global green coatings market is estimated to be valued at USD 121.27 billion in 2022 and is expected to grow at a CAGR of 4.4% over the forecast period of 2023-2032, according to a new report published by Coherent Market Insights.
B) Market Dynamics:
Two major drivers influencing the growth of the Green Coatings Market are stringent environmental regulations and increasing demand for sustainable products. Governments worldwide have implemented strict regulations to minimize the environmental impact of coatings. For instance, the European Union's REACH regulation restricts the use of certain harmful chemicals in the manufacturing of coatings. This has led to the adoption of green coatings by various industries to meet regulatory requirements and reduce their carbon footprint.
Furthermore, there is a growing demand for sustainable products from consumers who are becoming more conscious about the environmental impact of their purchasing decisions. Green coatings offer a sustainable and eco-friendly alternative to traditional coatings, driving their adoption across various industries.
C) Market Key Trends:
One key trend in the green coatings market is the development of bio-based coatings. These coatings are made from renewable resources such as plant-based oils, natural resins, and recycled materials. Bio-based coatings offer similar performance properties as conventional coatings while reducing the environmental impact. For example, bio-based coatings have been developed using soybean oil, which provides excellent adhesion and corrosion resistance.
D) SWOT Analysis:
- Strengths:
Growing demand for sustainable and eco-friendly products.
Stringent environmental regulations driving the adoption of green coatings.
- Weaknesses:
The high initial cost of green coatings compared to traditional coatings.
Limited availability of raw materials for bio-based coatings.
- Opportunities:
Increasing research and development efforts to develop innovative green coatings.
Growing demand from emerging economies with expanding construction and automotive industries.
- Threats:
Competition from low-cost conventional coatings.
Volatility in raw material prices affects the cost of green coatings.
E) Key Takeaways:
In summary, the global Green Coatings Market is expected to witness high growth, driven by stringent environmental regulations and increasing demand for sustainable products. The market is characterized by the development of bio-based coatings as a key trend. The strengths of the market include the growing demand for eco-friendly products and the presence of stringent regulations, while weaknesses include the high initial cost and limited availability of raw materials. The opportunities in the market lie in research and development efforts and growing demand from emerging economies. However, competition from low-cost conventional coatings and volatility in raw material prices pose potential threats to the market.
Key players operating in the global green coatings market include The Sherwin Williams Company, PPG Industries, Akzonobel N.V., Axalta Coating Systems, BASF, Valspar Corporation, Kansai Paint Company Limited, Tikkurila OYJ, and Masco Corporation. These companies play a significant role in the market and are actively involved in developing sustainable coating solutions to meet the growing demand for green coatings.
Albany, New York, November 21, 2019: Fact.MR has recently updated a new study which comprehensively details about the expected trends and opportunities set to influence the global market for coating additives.
In the near future, the application of green coatings is likely to gain high-end popularity within the automotive industry, thereby, enhancing vital prospects for the packaging coating additives market.The purpose of this assessment is to present a thorough insight related to prime market characteristics and opportunities together with market taxonomy supply chain analysis, market dynamics, forecast factors and a lot more.
This Fact.MR study reveals there is prominent focus on quality that is powering demand for coating additives across manufacturing processes.
In addition, key coating additive manufacturers are aiming to create innovative products alongside a firm vision of expanding their geographical reach to satisfy the growing demand for functional additives.Get Customize Sample Copy of Report from Here - https://www.factmr.com/connectus/sample?flag=S_id=2427Rheology Coating Additives Set To Deliver Higher Demand According to this intelligent Fact.MR report, the target market showcases a rising demand for rheology coating additives that have suitably surpassed a remarkable milestone of 449,000 tons in 2018.
These requirements are dynamic and they evidently vary in arrangement to the labelled sections which need to be treated.
At present, architectural coatings occupy more than half of the entire coatings market, thereby, delivering better prospects for the coating additives market in the coming years.Browse Complete Report - https://www.factmr.com/report/2427/coating-additives-marketBio-Based Coatings Expected to Provide Better ReturnsIt should be marked that, increasing levels of emission of volatile organic compounds (VOCs) and hazardous air pollutants (HAPs) from conventional coatings do lead to concerns associated to environmental degradation.
Market Research Future Published a Half-Cooked Research Report on Global Alkyd Resin Market Research Report- Forecast to 2023Market Insights:Market Research Future (MRFR) has revealed in its latest study that the Global Alkyd Resin Market is set to expand at 3.32% CAGR, in terms of value, during the forecast period.
Although the market has entered a phase of maturity, the boom in the end-user industries is likely to generate demand for Alkyd Resins in the forthcoming years.The increasing disposable income of the global population coupled with accelerated economic activities in the construction sector is projected to augur well for the Alkyd Resins Market Players.
The rising demand for paints and coating from the construction sector is likely to guide the growth trajectory of the Alkyd Resins Market over the next few years.The demand from the automotive industry for Alkyd Resins hold a significant share of the market.
According to statistics released by OICA, 26% of the market share is owned by automotive refinishes.
The increasing demand in the automotive industry is expected to drive the expansion of the Alkyd Resin Market over 2023.The stringent regulations enforced by EPA and REACH regarding the VOC emissions in coatings industry is poised to hold the revenue creation of the alkyd resin market across the projection period.
However, the shift witnessed towards water-based latex paints has opened new avenues of growth for the participants of the Alkyd Resin Market.Get Free Sample @ https://www.marketresearchfuture.com/sample_request/4925Competitive Dashboard:Some of the Key Players profiled in the report include Polynt SpA, Arkema SA, Mancuso Chemicals Limited, D.S.V Chemicals Pvt Ltd., Nord Composites, Macro Polymers, Spolchemie, DowDuPont Inc., BASF SE, DSM, and Cytech Solvay Group.Market Segmentation:By Type, Global Alkyd Resin Market is segmented into oil-based, modified, water reducible, and others.
