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Green Coating Market Share

ID: MRFR//1485-HCR | 140 Pages | Author: Anshula Mandaokar| April 2024

In the rapidly evolving Green Coatings Market, companies adopt various market share positioning strategies to create a competitive advantage and ensure their existence in the market. Another popular strategy is differentiation, where companies are into developing and selling the best eco-friendly coatings. Through the research and development funding, companies aim to develop new products that meet the growing demand for environmentally friendly and sustainable products. This strategy not only uniquely positions them compared to their competitors but also speaks to environmentally conscious consumers leading to an expansion of their market share.

The other critical strategy involves cost leadership, which is used by companies to appear as the low-cost producers in green coatings. Through increasing production efficiency and using environmentally-friendly production methods, sourcing materials efficiently, and implementing cost-effective technologies, companies can offer competitive pricing to customers. This is a strategy that works very well where price sensitivity is the key element of the decision-making process. Furthermore, cost leadership strategies allow firms to serve a larger customer base, which consequently boosts market penetration and strengthens their market share.

Collaboration and strategic partnerships are the foundation of market share positioning in the Green Coating Market. Companies tend to partner with suppliers, technology providers, or even other industry players to build up their capabilities as well as broaden their product assortment. Such collaboration not only facilitates knowledge transfer but also presents access to the new market and channel distribution. Through strategic alliances, companies can pool resources and cut costs while amplifying their market strength together.

Brand image and marketing strategies is what the market share positioning strategies in the Green Coating Market depend on. Developing a powerful and memorable brand can bring about a good impression of the product among consumers, which may lead to a change in their buying habits. Companies make investments in marketing activities which focus on the environmental benefits of the coatings, for example, low carbon footprint, recyclability, and overall sustainability. Effective advertisement of these qualities creates loyal customers and widens the customer base, which will be a factor in the growth of market share.

Those two factors, namely, adaptability and responsiveness to the market trends are the hallmarks of a market share positioning strategy. The green coating industry offers a changing environment where regulations, technology, and preferences of customer are developing. Brands that successfully anticipate these changes retain their relevance while being flexible enablers of new trends and risks. Flexibility in the change of product lines and business models can do this, so companies will remain competitive and maintain or expand their market share.

Green Coating Market Overview


The Green Coating Market was valued at USD 87.46 billion in 2018 and is expected to register a CAGR of around 8.1% during the forecast period, 2022-2030.Covering the surface of an entity is referred to as coating if a coating doesn’t release any product that is harmful to the environment or any individual, the coating can be identified as a green coating. Because of the presence of ultra-low or zero volatile organic compounds (VOCs), the demand for green coating has increased in the last decade. Furthermore, the growing trend towards the need of reducing the VOCs in the paints and the government regulations being more rigid towards the VOCs laws, on both the regional and the global level. Moreover, being an environment-conscious product the green coating has intrigued the customer's interest in the market which is increasing continuously, 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. Henceforth, propelling the growth of the global green coating market. For instance, companies such as PPG Industries, Inc. doing green practices for the fabrication of their products by following the government regulations according to Leadership in Energy & Environmental Design (LEED) criteria, driven by the consumer desire for low-odor interior finish and better indoor air qualities.
 

Market Segmentation

 

The global green coating market has been segmented based on type, end-use industry, and region.By type, the global green coating market has been categorized as powder coatings, radiation cure coatings, waterborne coatings, high solids coating, and others. The waterborne coating held the largest market share in 2018.Based on end-use industry, the global green coating market has been segregated into industrial, architectural, automotive, packaging, and others. The architectural coating segment has the most considerable contribution in the global green coating market due to the growing building & construction industry, along with the policies of environment agencies to keep them eco-friendly.  


Key Players

 

Some of the key players operating in the global green coating market are 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).

 

Regional Analysis

The global green coating market has been cataloged into five regions, namely North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.The Europe region held the largest market share for green coating in 2018. Owing to the government regulations towards limiting the usage of VOCs in the painting segment due to health and environmental risks caused because of the formation of aerosols, produce when VOCs reacts with NOx besides the concern of the consumer to have a better indoor air quality have led to the surging demand of green coating in the region. Moreover, having the most significant automotive and packaging market has driven the overall growth for the green coating in the regional market.The Asia-Pacific region is the fastest-growing region for the green coating during the forecast period owing to the rapid industrialization and improving the gross domestic product (GDP) per capita has changed the standard of living of individuals, with now people being concerned for their health and hygiene and are spending on better quality of products. Therefore, shifting towards green coating over normal coating hence propelling the growth of green coating in the regional market.North America has a prominent share in the global green coating market which is attributed to the fact the environment agencies in the region are very meticulous about the VOCs laws which stimulate the manufactures of the paint and coating segment for the adoption of green coating besides this the R&D sector of the region is continuously improvising their products to make it more sustainable. For Instance, a chemist from brock university Canada has developed a green coating that protects the metal from corrosion.Latin America is expected to witness a positive growth in the green coating market owing to the changing the lifestyle of individuals due to improving GDP per capita of countries such as Bolivia, Chile, and Costa Rica.The Middle East & Africa region due to its growing industrial and architecture industry is witnessing healthy growth in the global green coating.

 

Intended Audience:

Green coating manufacturersR&D sectorTraders and distributors of green coatingProduction process industriesPotential investorsRaw material suppliers

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