Global Green Coating Market Size to Reach USD 203.27 Billion in 2032 | Emergen Research

Vancouver, Dec. 20, 2023 (GLOBE NEWSWIRE) -- The global green coating market size was USD 203.27 Billion in 2032 and is expected to register a steady revenue CAGR of 4.9% during the forecast period, according to latest analysis by Emergen Research. Increasing use of green coating in the O&G industry is a major factor driving market revenue growth. Fine silica grades play a crucial role in the cementing of oil wells. The introduction of silica into cement mixture modifies silica-to-calcium ratio, enhancing the cement's stability while preserving its permeability and physical strength, even when subjected to high temperatures of up to 110°C. Grounded silica is particularly utilized for grading G and H well cement, and it is also used to adjust slurry density, replacing materials such as ilmenite, barite, or coal powder. In fact, roughly one-third of the cement used in these operations consists of green coating. In addition, in recent years, the demand for O&G products has risen due to increasing energy and fuel requirements, which is another key factor driving revenue growth of the market.

However, health concerns pertaining to the exposure to respirable silica dust is a key factor, which could restrain market revenue growth. While silica is a common component in various products including paints, coatings, adhesives, glass, and rubber tires, prolonged exposure to these products carries significant risks. Approximately 2.5 Billion workers worldwide face exposure to green coating and other silica forms. The processing of siliceous rocks generates inhalable dust, which when breathed in, poses severe health dangers. In addition, inhaling and retaining fine silica particles can lead to a condition known as silicosis, an incurable lung disease that can result in permanent disability or even death. Individuals with silicosis are also at an increased risk of developing pulmonary tuberculosis.

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Scope of Research

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Major Companies and Competitive Landscape

The global green coating market is fairly fragmented, with many large and medium-sized players accounting for the majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective green coating solutions in the market. Some major players included in the global green coating market report are:

• The Sherwin-Williams Company
• Nippon Paint Holdings Co., Ltd.
• DSM
• Kansai Paint Co., Ltd.
• BASF SE
• Jotun
• Akzo Nobel N.V.
• Asia Paints
• Axalta Coating Systems
• Hempel A/S

Strategic Development

• On 3 August 2021, AkzoNobel India introduced a top-tier, ultra-premium interior emulsion product prioritizing health and well-being. The latest advancement, named 'Dulux Better Living Air Clean Biobased,' stands as India's initial United States Department of Agriculture (USDA) certified Bio-based paint designed to enhance indoor air quality, promoting a healthier home environment. Dulux Better Living Air Clean Biobased contains 26% bio-based content sourced from sustainable plant-based origins. In addition, it incorporates the benefits of natural elements, such as active bamboo charcoal and tea tree oil, making it an intelligent and eco-friendly painting solution.

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Some Key Highlights from the Report

• The glass manufacturing segment accounted for largest revenue share in the global green coatings market in 2022because green coating powder plays a crucial role in the manufacturing of ceramics and glass. Green coating powder functions as a flux, reducing the materials' melting point and ensuring even heating. In addition, this coating improves the transparency and durability of glass items. In ceramics production, this coating effectively manages shrinkage during the firing process and enhances the overall strength and longevity of end products
• The natural green coating segment is expected to register moderately fast revenue growth rate in the global green coatings market during the forecast period. This is because naturally occurring green coating usually has a significant degree of purity, rendering it well-suited for sectors demanding pristine materials. This quality is of paramount importance in sectors such as glass production and creation of top-tier ceramics. In addition, natural green coating exhibits chemical inertness, indicating that it does not interact with majority of chemicals or substances. This attribute holds immense value in industries where the material must not introduce undesirable reactions or contaminants into the end product.
• The North America market accounted for largest revenue share in the global green coatings market in 2022. This is owing to increasing strategic initiatives and funding toward product design and development of green coating, emergence of key startup companies, and rapid adoption of green coating applications, especially in the U.S. and Canada. For instance, on 26 July 2022, Dow revealed a fresh collaboration with BSB Nanotechnology Joint Stock Company, the pioneer in crafting high-quality silica derived from rice husk, a sustainable byproduct of rice processing. This rice husk-based material finds application in various sectors within the personal care industry. This partnership serves to expedite Dow's dedication to bio-based products. The latest ingredient, marketed as EcoSmoot Rice Husk Cosmetic Powder by Dow, brings about optical advantages and offers a distinctive sensory experience to consumers in skin care, hair care, and color cosmetics
• On 25 February 2021, SOMEVAM unveiled its intentions to make a substantial investment in the creation of its second CDE wet processing system designed for the production of top-quality silica sand products. This investment has been made possible through financial backing, approved by the Central Bank of Tunisia, with support from various entities including U.K. Export Finance (UKEF), AF Capital Partners, Apple Bank, and the British Embassy in Tunis. The Sebri Group will collaborate with CDE in the design and engineering of this new plant, which is slated to be situated in a SOMEVAM quarry located in Oueslatia.

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For the purpose of this report, Emergen Research has segmented the global green coating market on the basis of type, application, source, end-use, and region:

• Technology Outlook (Revenue, USD Billion; 2019-2032)

• • Waterborne
  • Powder
  • High Solids
  • Radiation-cure

• Application Outlook (Revenue, USD Billion; 2019-2032)

• • Architectural
  • Automotive
  • Industrial
  • Wood
  • Packaging
  • Product Finishes

• Regional Outlook (Revenue, USD Billion; 2019-2032)
  • North America
    1. U.S.
    2. Canada
    3. Mexico
  • Europe
    1. Germany
    2. France
    3. UK
    4. Italy
    5. Spain
    6. Benelux
    7. Rest of Europe
  • Asia Pacific
    1. China
    2. India
    3. Japan
    4. South Korea
    5. Rest of APAC
  • Latin America
    1. Brazil
    2. Rest of LATAM
  • Middle East & Africa
    1. Saudi Arabia
    2. UAE
    3. South Africa
    4. Turkey
    5. Rest of Middle East & Africa

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