PPG Industries introduced its latest product, PPG ENVIROCRON LUM coating, in June 2022, which is the industry’s foremost retroreflective powder coating. The new coating is mainly developed to improve visibility at night and even during low-light conditions, that is available in several colors and has excellent abrasion and chip resistance and also one-cat corrosion protection.
Trace VOC Globe was launched by the British Coatings Federations in May 2022, which enables decorative paint manufacturers to communicate better with their customers by indicating the lowest levels of volatile organic compounds (VOCs). It is part of an industry drive to raise awareness among consumers about VOC levels in paint products.
Axalta Coating Systems Ltd completed the expansion of its Jiading, Shanghai, China waterborne coatings facility in May 2021. The location has been expanded to cater to the increasing demands for green coating systems in China and the Asia Pacific region for industrial, commercial and automotive applications.
December 2022 saw BASF, in China, announce its first automotive biomass balance coatings, whereas the new ColorBrite Airspace Blue is ReSource basecoat that can reduce CO2 foot print up to 20 percent. This includes obtaining biomass certification for its Caojing-based resin plants.
In October 2022, Asian Paints Limited signed a legally binding contract with Aapex Power and Industries Private Limited for the acquisition of Harind Chemicals and Pharmaceuticals Private Limited shares.
In August 2022, Nippon Paint China and BASF jointly introduced Joncryl HPB. So far, it has been the first water-based barrier coating launched by BASF for use in industrial packaging in China.
In May 2022, Allnex announced that the company will participate in Paint India 2022 taking place at JIO World Convention Center situated In India. Allnex plans to bring a wide portfolio of green coating technologies as well as other innovative developments for various industries, including transportation, the wood sector metal industry as well as automotive.
In August 2021, AkzoNobel’s Dulux launched a USDA-certified super-premium interior emulsion in India. It was also India’s first biobased paint.
| Report Attribute/Metric | Details |
| Market Size | 2018: USD 87.46 Billion2030: Significant value |
| CAGR | 8.1% |
| Base Year | 2021 |
| Forecast Period | 2022 to 2030 |
| Historical Data | 2019 & 2020 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Type, End-Use Industry and Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Vendors | AkzoNobel NV (Netherlands), Asian Paints (India), BASF SE (Germany), Berger Paints India Limited (India), Jotun (Norway), PPG Industries Inc. (US), The Sherwin-Williams Company (US), Kansai Paint Co. Ltd (Japan), Masco Corporation (US), Valspar (US), RPM International Inc. (US), Tikkurila OYJ (Finland), Nippon Paint Holdings Co., Ltd (Japan), AXALTA (US), Walter Wurdack Inc. (US), GLOBAL Encasement, Inc. (US), and Daw SE (Germany). |
| Key Market Opportunities | As consumers are getting aware about the health risk from the exposure of VOCs, which is fueling the demand for the green coatings in the market. |
| Key Market Drivers | The growing trend towards the need of reducing the VOCs in the paints and the government regulations being more rigid towards the VOCs laws |
Green Coating Market Highlights:
Frequently Asked Questions (FAQ) :
The global green coatings market was valued at USD 87.46 billion in 2018.
The global green coatings market is expected to exhibit a solid 8.1% CAGR over the forecast period from 2022-2030.
The increasing awareness about the environmental damage caused by conventional coatings is the major driver for the global green coatings market.
Waterborne coatings hold the highest share in the global green coatings market.
The global green coatings market is dominated by architectural coatings.
Team Lead - Research Anshula mandaokar holds an academic degree in chemical engineering and has been contributing to the field for more than 5 years. she has expertise in market research and business consulting and serves as a team lead for a reputed market research firm under the chemicals and materials domain spectrum. she has worked on multiple projects, generating explicit results in a quick turnaround time. her understanding of data interpretation justifies her role as a leader.
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