The Business Research Company’s Green Coatings Global Market Report 2023 is the most detailed report available on the market, including broad forecast periods and multiple geographies. The report covers the historic period – 2010-2021, and the forecast period – 2023-2032. The Green Coatings Global Market Report 2023 evaluates green coatings market size, growth rate, drivers, trends, and major companies.
The report provides a global perspective by covering 60 geographies and focusing on major economies in each region – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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The global green coatings market size is expected to grow from $87.42 billion in 2022 to $95.34 billion in 2023 at a compound annual growth rate (CAGR) of 9.05%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the green coatings market is expected to reach $129.59 billion in 2027 at a CAGR of 7.98%.
Significant growth in the construction industry is expected to propel the green coating market. The construction industry refers to the commercial sector of manufacturing and trade that deals with creating, maintaining, and repairing infrastructures. The construction industry is growing with the demand for green buildings that require bio-based paints and coatings to protect the environment and reduce pollution. For instance, according to data published by the United States Census Bureau, a US-based Federal Statistical agency, the total spending on industrial construction in the US was $1,762.3 billion in June 2022. According to PolicyAdvice, a United Kingdom-based company that provides insurance information, the total average annual spending on industrial construction in the US is $1.23 billion. Therefore, significant growth in the construction industry is anticipated to fuel the market in the upcoming years.
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The green coatings market segments in the report are:
1) By Type: Waterborne Coatings, Powder Coatings, High-Solids Coatings, Radiation Cure Coatings
2) By Source: Vegetable Oil, Soy Bean, Castor Oil, Clay, Other Sources
3) By End-Use Industry: Industrial, Architectural, Automotive, Packaging, Other End-Use Industries
The table of contents in TBRC’s green coatings market report includes:
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