Green Coating Market Size, Share, Opportunities, And Trends By Grade (High-Solids, Waterborne, Powder, UV-Cured), By Application (Packaging Coating, Wood Coating, Automotive Coating, Architectural Coating, Industrial Coating), And By Geography - Forecasts From 2024 To 2029

The green coating market is estimated to be around US$107.198 billion in 2024 and is anticipated to grow to US$134.954 billion by 2029 at a CAGR of 4.71%.

Green or sustainable coating refers to the eco-friendly coating material that does not emit any VOCs or volatile organic compounds during production. The main aim of the green coating is to reduce environmental damage while improving the performance of the products. Green or sustainable paint offers numerous benefits to producers, consumers, and the environment. These coatings help to improve the air quality as these generally contain low VOCs and offer greater flexibility.

One of the major driving factors for increasing market demand for green coatings is the increasing health and environmental concerns of VOCs. Exposure to VOCs has proven to cause severe health issues that can affect various critical human organs, including eye, nose, and throat irritations. This exposure can also lead to nausea and damage to the liver and kidneys.

Similarly, the increase in the global automotive market is also anticipated to boost the global green coating market. One of the most common applications of green coating is in the automotive industry. In the industry, green coating helps reduce the pollution emissions of vehicles and manufacturers during the production of automobiles. This helps the industry attain its goal of net-zero emissions.

The global demand for green coating is also estimated to expand with the increase in the architectural and construction industries. Especially in developing nations, the construction landscape is generally observed to grow rapidly, with the introduction and commencement of new projects like bridges, buildings, and other infrastructural developments.

The Green Coating Markets Market Drivers:

• An increasing demand for the automotive market in the global market.

One of the major consumers of green coating in the global market is the automotive industry. In the industry, green coating is used to paint and coat automobiles to reduce the emission of pollutants in the atmosphere. The increase in the global automotive production is sure to propel the global demand for the green coating.

The International Organization of Motor Vehicle Manufacturers (OICA), in its production statistics, stated that global automotive production has grown significantly in the last few years. The report states that in 2021, the total production of automobiles was recorded at about 80.004 million, which grew to about 84.830 million in 2022. In 2023, the total automotive production reached 93.546 million, with China becoming the biggest producer, with total automotive production reaching 30.160 million in the nation in the same year.

• An increase in the global cases of kidney and liver disorders.

The volatile organic compounds have been shown to cause various health and environmental issues, like kidney dysfunction, liver failure, and others. The increase in the global cases of kidney and liver disorders is estimated to boost the market for green coating. The National Kidney Foundation Inc. of the USA stated in its report that about 10% of the global population is affected by chronic kidney disorders or CKD. The report further stated that about a million die each year suffering from CKD, and about 2 million people in the population are currently receiving treatments for CKDs, like dialysis and transplants. Similarly, the global increase in liver failures can also be attributed to the extensive use of paints and coatings containing VOCs. The International Journal of Pharmaceutical Chemistry and Analysis stated that every year, about two million people die suffering from acute, chronic liver failure.

Green Coating Market Geographical Outlook

• Asia Pacific is anticipated to hold a significant share of the green coating market.

Asia Pacific is estimated to attain a greater market share in green coating because of the region's increasing industrial and infrastructural development. The region offers a few of the fastest-growing or developing nations, like India, Vietnam, and Bangladesh, which offer various infrastructural developments, like constructing bridges, buildings, and factories. Similarly, the growing regional manufacturing sector is also estimated to propel the green coating market. The region offers various manufacturing industries like automotive, consumer electronics, and electricals, among others. The region also offers one of the biggest automotive productions globally, with about 55.115 million vehicles produced in 2023 out of the total 93.546 million. Automotive production is also estimated to grow with the increase in governmental initiatives for the production of automobiles. Various nations in the region offered several new schemes and policies, like the PLI scheme by the Indian Government, which are aimed to attract more international manufacturers for the production of automobiles in the region.

Similarly, the region is among the biggest manufacturers of consumer electronics and electrical products, which extensively requires a green coat to reduce the VOC impact and the severe impacts on the health of the consumers. Various countries in the region, like India, China, Taiwan, and Vietnam, are considered the manufacturing hubs of various products like smartphones, laptops, televisions, and others. These products directly impact the consumers, and the use of sustainable coating materials creates a positive impact on the customers and the environment as well.

The Green Coating Markets Products Offered by Key Companies:

• Intercoat: Intercoat offers multiple products and coating solutions for applications like joinery, furniture, flooring, doors, and casket manufacturers. The company offers Aqualine+, a water-based sustainable coating material that helps reduce VOC emissions and improves the environmental footprint.
• BASF SE: BASF SE is one of the global leaders in the manufacturing and supplying of solutions for several industries, such as chemicals, coatings, construction, and others. The company is also among the global leaders in automotive OEM coating suppliers, offering exterior, interior, application, and digital solutions. The company offers e-coats, basecoats, clearcoats, and primers in the sustainable coating solutions market.

The Green Coating Markets Key Developments:

• In July 2024, Elementis Plc, a global leader in the rheology supply, opened its sustainable coating manufacturing plant in China.

The Green Coating Markets market is segmented and analyzed as follows:

• By Grade
  • High-Solids
  • Waterborne
  • Powder
  • UV-Cured
• By Application
  • Packaging Coating
  • Wood Coating
  • Automotive Coating
  • Architectural Coating
  • Industrial Coating
• By Geography
  • North America
    • USA
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Others
  • Middle East And Africa
    • Saudi Arabia
    • Israel
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • Others