(MENAFN- America News Hour) In a recently published report, Global Green Coatings Market report for till 2030. The report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Global Green Coatings Market products.
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It is also anticipated to grow on account of the growing demand for chemicals from the end users, backed by the increasing consumption of chemicals across different industries and the rising need for advanced chemicals. In India, the production of major chemicals and petrochemicals during the period 2020-2021 was close to 12000 thousand MT. Additionally, between the period 2015-16 and 2019-20, the production of the chemicals and petrochemicals in the nation grew at a CAGR of close to 6%.
Global Green Coatings Market is valued approximately USD 75 billion in 2018 and is anticipated to grow with a healthy growth rate of more than 5% over the forecast period 2019-2026. Coating refers to the covering applied on the surface of an object with the purpose of applying to be decorative or functional or both. However, these coatings have harmful environmental impact such as release of volatile organic compounds and toxins. Release of these VOCs causes health issues such as kidney damage, dizziness, and also harms the ozone layer. This is significantly driving the need for environmentally friendly coatings. Green coatings are gaining popularity due to their low volatile organic compound content and low environmental footprint. Stringent government regulations and growing popularity of green buildings standards coupled with rising consumer awareness for the sustainable products are key driving forces of the market growth. For instance, Europe set VOC emission regulation in 2003 termed as restriction of hazardous substance directive (RoHS). Furthermore, increasing demand for ultraviolet curing coating is anticipated to create significant growth opportunity in the market over the forecast period. However, fluctuating raw material cost and availability issue impedes the growth of the market over the forecast period of 2019-2026.
The regional analysis of global Green Coatings market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to growth in construction activities coupled with stringent regulations imposed by the regulatory authorities on the paints and coatings industry. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2019-2026. Factors such as growing economy and infrastructural activities, growth in industrial sector would create lucrative growth prospects for the Green Coatings market across Asia-Pacific region.
Major market player included in this report are:
Akzonobel N.V.
Asian Paints Limited
Axalta Coating Systems Llc
BASF SE
Berger Paints India Limited
Deutsche Amphibolin Works Se (Daw)
Hempel A/S
Jotun A/S
Kansai Paint Company Limited
Masco Corporation
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Types:
Waterborne Coatings
Powder Coatings
High-Solids Coatings
Radiation Cure Coatings
By Applications:
Architectural Coatings
Automotive Coatings
Industrial Coatings
Wood Coatings
Packaging Coatings
Product Finishes Coatings
By Region:
North America
U.S.
Canada
Europe
UK
Germany
Asia Pacific
China
India
Japan
Latin America
Brazil
Mexico
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2016, 2017
Base year – 2018
Forecast period – 2019 to 2026
Target Audience of the Global Green Coatings Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors
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The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:
- North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth Market Players Analys & Opportunity Outlook
- Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth Market Players Analysis & Opportunity Outlook
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