Green Coatings Industry: Trends, Opportunities, and Forecasts

1. The global green coatings market has experienced significant growth in recent years, and a comprehensive report by Fairfield Market Research sheds light on the key factors influencing its expansion and future prospects. The report closely examines the market's growth influencers, providing valuable insights that will aid in the examination of market growth over the forecast timeline. In 2022, the green coatings industry demonstrated modest growth, reaching a value of approximately US$120 billion. According to the preliminary study conducted by Fairfield Market Research, the market is expected to maintain a stable growth outlook in the near term. Key findings from the report include: 1.Rising awareness regarding volatile organic compound (VOC) emissions drives the demand for green coatings. 2.Functional advantages of green coatings fuel their adoption across various applications. 3.High costs and limited availability of sustainable material alternatives hinder the growth of the green coatings industry. 4.Waterborne coatings capture a significant share of the green coatings market valuation. 5.Asia Pacific emerges as a lucrative revenue pocket for green coatings manufacturers. Read More: https://www.fairfieldmarketresearch.com/report/green-coatings-market The growing popularity of green coatings can be attributed to increasing environmental regulations worldwide. The awareness of the harmful effects of emissions from volatile organic compounds and concerns about global warming have led to a shift from solvent-borne coatings to environmentally friendly options. Green coatings such as waterborne coatings, powder coatings, UV curable coatings, and high solids coatings have gained traction due to their lower or zero solvent content during the curing phase. Government authorities are actively promoting the use of environmentally friendly products and implementing strict regulations against VOCs. As a result, coating manufacturers are adopting green manufacturing practices to develop eco-friendly coatings, which contributes to the growth of the global green coatings market. In addition to their eco-friendly properties and low VOC emissions, green coatings offer several functional advantages. These coatings provide extended service life, enhanced protection against high wind events, improved fire resistance, and high chemical resistance. These benefits have significantly influenced the adoption of green coatings in various end-use applications, further driving the growth of the global green coatings industry. However, the market faces challenges that impact its growth. The cost of sustainable or renewable materials is considerably higher compared to conventional petrochemical products, posing an economic hurdle. Furthermore, the availability of specialty raw materials used in sustainable coatings remains uncertain, and the complex manufacturing processes involved contribute to higher production costs. Within the UK market, waterborne coatings are expected to dominate the green coatings segment, capturing a significant share of the overall valuation. End-users are increasingly switching from solvent- borne coatings to waterborne alternatives to minimize VOC emissions. The versatility of waterborne coatings, allowing their application on various substrates such as concrete, wood, plastics, and metal, makes them an ideal choice for architectural applications, including adhesives, sealants, and interior and exterior coatings. The Asia Pacific region presents substantial growth opportunities for the green coatings market, particularly in emerging economies like India and China. Stringent environmental regulations, increasing awareness of VOC hazards, and a booming construction industry drive the demand for green coatings in

2. this region. The functional benefits of green coatings, such as anti-rust properties and climate-friendliness, make them essential components in the construction sector, offering protection against weathering, ultraviolet degradation, and natural calamities. Key players in the UK green coatings market include AkzoNobel N.V., PPG Industries, Arkema Group, BASF SE, The Sherwin-Williams Company, Axalta Coating Systems, Asian Paints Limited, Berger Paints India Limited, Lifetime Green Coatings, Kansai Paint Co. Ltd., Jotun, Valspar Corporation, and Royal DSM. These companies are expected to leverage the growing market demand and focuson innovation to maintain a competitive edge in the UK and global green coatings market. As the global green coatings market continues to witness remarkable growth, the United Kingdom remains at the forefront of this sustainable revolution. With increasing environmental awareness, stringent regulations, and a growing emphasis on eco-friendly practices, the demand for green coatings is set to surge in the UK. This presents significant opportunities for businesses in the coatings industry to capitalize on the growing market and contribute to a greener future. For More Information: https://www.fairfieldmarketresearch.com/