Green Coatings Market - Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2018-2026
Green coatings are eco-friendly paint coating with low volatile organic compound (VOC) content. Emission of VOC releases toxics in the surrounding air causing health problems, such as dizziness, headache, kidney damage, and harms the ozone layer. Development of sustainable products has gained importance over the past few decades, due to which manufacturers are focused on introducing eco-friendly products to the market. Manufacturers are aiming to produce high-performance coatings that have zero or low VOC with good durability. Application of green coatings in end-use industries and rising awareness regarding VOC emissions have contributed to the growth of the green coatings market globally. Request For Sample Copy of this Research Report : https://www.coherentmarketinsights.com/insight/request-sample/872 Stringent government regulations have immensely driven the green coatings market globally. The first restriction on the emission of VOC was set up for Europe in 2003, which was termed as Restriction of Hazardous Substances Directive (RoHS), which was put forward by Leadership in Energy and Environmental Design (LEED). Since then manufactures are working to produce green coatings, in turn fueling the growth of the green coatings market. Increasing cost of raw materials further increases the cost of green coatings, which is the restraint for the growth of global green coatings market. High investment cost further hinders the growth of green coatings market globally. Water-borne coatings segment has proven to be the prominent segment of green coatings market, owing to its tremendous use in architectural and constructional activities. High solids coating segment is witnessed to gain traction, due to its increasing application in aerospace. Architectural coating segment has projected to have a significant growth rate in the global green coatings market, owing to increase in infrastructure spending in commercial and residential sectors. Green Coatings Market Outlook Asia Pacific is the fastest growing region in the green coatings market and is anticipated to have the highest CAGR over the forecast period, owing to the presence of major markets in the economies such as India, China, Japan, Thailand, Malaysia, Vietnam, and Indonesia. The growth of green coatings market in this region is attributed to the growth of end-use industries namely architectural and automotive coatings in this region. The ‘Make in India’ approach taken by the Government of India is expected to propel the growth of manufacturing sector, which is anticipated to drive the green coatings market over the forecast period.