Green Coatings Market : Stringent Government Regulations to Encourage Growth of the Market


 
Green coatings refers to eco-friendly coatings which are employed in a wide range of applications comprising construction, original equipment manufacturer, automotive, industrial manufacturing, aerospace, and so on. The making of green coatings comprises environment friendly base materials that include clay, castor oil, soy bean, milk, vegetable oil, and so on. Vegetable oil plays the role of a corrosion inhibitor, thereby proving to be of great use in applications comprising exposure to acids, temperatures, highly reactive substances, and extreme environmental conditions.

Eminent market players that are operating in the world market for green coatings comprise names such as Kansai, AkzoNobel, Sherwin-Williams, PPG Industries, BASF, Henkel, Valspar, and Axalta.

In accordance with the market intelligence report, the international market for green coatings has been forecasted to rise at a healthy CAGR over the period of forecast that extends from the year 2017 to the year 2025.

Which of the Regional Segments to Continue with Dominance over the Period of Forecast?

On the basis of geography, the said market for green coatings is divided into the geographies of North America, Latin America, Asia Pacific, the Middle East and Africa, and Europe. The region of North America, followed by Europe, has been leading the world market for the green coatings. This is mostly owing to the stringent regulations that are enacted by the respective governments on the use of chemical coatings and soaring environmental hazards owing to the usage of chemical coatings. However, the region of Asia Pacific is quite likely to expand substantially owing to the forecasted expansion of the end-user industries such as automotive, architectural, aerospace, and in the region, over the period of forecast.
How the Market Drivers would Shape the Future of the Market?

Castor oil-based green coatings are highly effective against the harshest of acids and chemicals, thereby making it suitable for applications in the water & wastewater industries and oil & gas industry. Green coatings assist in the improvement of the overall efficiency of the equipment that it is applied to thereby by minimizing the UV radiations and sun’s harmful infrared, thus reducing radiant heat transfer within a property, which enables the property to remain cool. This minimizes the need for cooling systems and the additional fossil fuel costs pertaining to them. Green coatings do not give out harmful chemicals in the environment unlike their chemical coatings, traditional, and counterpart that are generally employed in industrial applications.

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Chemical coatings are made out of volatile organic compounds (VOC), which releases toxins into the air at room temperature, thereby leading to several health and environmental hazards. The typical impact of the usage of VOC coatings on the health comprise dizziness, headache, and might even lead to the damage the kidneys. It also negatively impacts the ozone layer, thereby leading to its depletion and global warming. As such, various governments in North America and Europe have come up with stringent regulations for the usage and production of VOC coatings. These restrictions on the usage of VOC coatings and the stringent rules & regulations are estimated to fuel the world market for the green coatings in the near future.

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