Green Coatings Market: Global Trends & Forecast to 2018 - a new market research report on companiesandmarkets.com
PR-Inside.com: 2014-03-25 17:14:03
The current worth of the global green coatings market in 2012 is estimated to be $60.6 billion and is estimated to reach $85.7 billion by 2018, growing at a CAGR of 5.9% from 2013 to 2018 under normal conditions. The high demand across the industries such as architectural and decorative, automotive, wood coatings, packaging, and product finishes will increase the overall materials consumption.
Green coatings offer different characteristics as per the coatings manufacturing and their application requirements in the end products. The waterborne coatings have high demand at a global level and its manufacturing is majorly dominated by Asia-Pacific mainly by China, Japan, and India. The major industries for green coatings are architectural, automotive, industrial, high performance, wood, packaging, and product finishes.
North America is the global hub for major green coatings manufacturers and their headquarters in U.S. Within Asia-Pacific, most of the major market players are situated in Japan such as Kansai, Nippon, Chugoku Marine Paints, Fujikura Kasei, and others.
The demand for environment friendly, non-hazardous, VOC complaint green coatings has increased from the end-user industry since the last decade. The global green coatings market is expected to show moderate to high growth in the next five years. The market of green coatings is segmented by different types of coatings which include waterborne coatings, powder coatings, high-solids coatings, and radiation cure coatings. These green coatings with eco-friendly property, innovative technology, and modern chemistries offer no or low VOCs and are available in different grades according to the applications such as architectural, automotive, industrial, high performance, wood, packaging, and product finishes.
Architectural & decorative, and automotive coatings are the current major growth drivers within the applications segment for the green coatings market, and also the growth of some countries in Asia-Pacific is driving the demand for green coatings. The dominance by Asia-Pacific is expected to be maintained over the next five years due to the expansions by the major players in these developing countries. In terms of revenue, the architectural coatings application is expected to show the highest growth followed by automotive and packaging coatings in the next five years. The applications of green coatings are expected to increase their market in Asia-Pacific and ROW. The market is also analyzed by drivers, restraints, and opportunities with their market attractiveness.
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