Green coating is a substance applied on the surface of an object for decoration or protection of the surface. It is produced using natural sources like vegetable oil, soy beans, castor oil and clay. The manufacturing process of green coating includes elimination of use of hazardous materials and increasing use of bio renewable and recycle material. Green coating manufacturers globally are working towards developing high performance coating that have less negative impact on the environment. Moreover, the coating developers create innovative manufacturing techniques that protect air and water quality with reducing the consumption of natural resources. The global green coating market is primarily driven by factors such as, government regulations for environment protection, rising urban population and increasing demand from end user industry including automotive & transportation and architecture industry. One of the major trends which will influenced the green coating market during the forecast period is the significant shift of consumers towards use of UV care coating and environmental friendly coatings. However, excessive cost associated with manufacturing and research & development of green coating is hindering the market growth. The report analyses the green coatings market by type into waterborne coatings, powder coatings, high-solids coatings and radiation cure coatings. The waterborne coating segment dominated the global green coating market and accounted for highest market share in terms of volume. Moreover, this segment is expected to grow at a faster pace during the forecast period owing to rising demand from automotive & transportation. Additionally, the metallic effect of waterborne coating is identical to conventional low-solids systems which further boosts the market. By application, the global green coating market is categorized into architectural coatings, industrial coatings, automotive coatings, wood coatings, packaging coatings and other. Amongst all major application, architectural coating dominated the green coating market and is projected to grow at high pace during the forecast period. Architectural coating segment is followed by automotive coating segment. The growth of the segment is attributed to rising construction spending in developed and developing economies. Based on geography, the green coatings market is studied across the countries of key regions such as, North America, Europe, Asia Pacific and Middle East & Africa. North America comprises United States, Canada and Mexico whereas Europe would primarily cover Germany, France, UK, Italy and Rest of Europe. The key countries included under Asia Pacific are China, Japan, India, Australia, and Rest of Asia Pacific. In Middle East & Africa, South Africa and Rest of MEA are the key countries covered in the report. Asia Pacific dominates the global green coating market. Asia Pacific region is followed by North America and Europe. Growing industrialization, growing automotive industry in economies including India and China and rising awareness among consumers about the environment are the prominent factors driving the Asian green coatings market. The leading companies in green coatings market are AkzoNobel NV, Asian Paints Limited, Axalta Coating Systems Llc, BASF SE, Berger Paints India Limited, Deutsche Amphibolin Works Se (Daw), Hempel A/S, Henkel, Jotun A/S, Kansai Paint Company Limited, Masco Corporation, Nippon Paint Company Ltd., PPG Industries Inc., Rpm International Inc, Sika, The Sherwin-Williams Company, The Valspar Corporation, Tikkurila OYJ, etc. Research & development, new product development and technological advancement are the key growth strategies adopted by major players to reinforce their positions in the international market and expand their geographic presence.
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