Global Market Size, Forecast, and Trend Highlights Over 2025-2037
Green Coatings Market size was USD 137.75 billion in 2024 and is estimated to reach USD 262.98 billion by the end of 2037, expanding at a CAGR of 5.1% during the forecast period, i.e., 2025-2037. In 2025, the industry size of green coatings is evaluated at USD 144.78 billion.
The global green coatings market is projected to experience significant growth, driven by a rapid transition towards solvent-borne coatings, including waterborne, powder coatings, high solids, and UV-curable coatings. This shift arises from an increasing awareness of the detrimental effects of volatile organic compound (VOC) emissions and the escalating concerns regarding global warming. It has become very popular since powder coating contains no solvents and emits minimal if any, volatile organic compounds (VOCs). The creation of novel goods, innovative formulas, and improvements in application procedures are all contributing to this market's explosive expansion.
In May 2021, one of the world's top suppliers of liquid and powder coatings, Axalta Coating Systems, expanded its aqueous coatings facility in Jiading, Shanghai, China. The enlarged location is intended to satisfy the rising need for environmentally friendly coating solutions in the China and Asia Pacific automotive, commercial vehicle, and industrial markets. Similarly, in July 2024, Elementis, a leading provider of specialized chemicals for paint, coatings, and industrial aqueous applications, is pleased to announce a significant advance in the coatings industry: the expansion of NiSAT (Non-Ionic Synthetic Associative Thickener) technology manufacturing in China. This strategic project aims to provide performance and environmentally friendly elements to the Chinese architecture market and beyond.
Furthermore, in September 2023, INX International Ink Co. finalized an investment in DetraPel, an advanced materials company that produces environmentally friendly coatings. This is the fourth agreement finalized since the USD 50 million INX Venture Capital investment program was launched in 2022. Therefore, these favorable investments, product launches, and expansion are expanding the market worldwide.
Green Coatings Sector: Growth Drivers and Challenges
Growth Drivers
- Growing international trade of renewable raw commodities: Many businesses are striving to minimize their carbon footprint to meet laws and benefit from government subsidies for the use of renewable resources. Furthermore, the prices of green resources are less erratic than those of oil and its derivatives, and they are always available. Several resin manufacturers provide alkyds, acrylics, and other bio-based resins to enhance the performance of green coatings relative to traditional coating processes.
Renewable raw materials are being increasingly used to produce green coatings, which offer reduced volatile organic compounds (VOC) emissions, improved indoor air quality, and improved environmental sustainability. The growing global trade of these renewable raw commodities such as alkyd resins has increased their availability, reduced costs, and improved supply chain efficiency, making it more viable for coating manufacturers to adopt sustainable production processes, hence driving market growth. The Observatory of Economic Complexity (OEC) revealed that with a USD 990 million total trade in 2023, alkyd resins ranked as the 2128th most traded product globally. Alkyd resin trade accounts for 0.0044% of global trade. According to the Product Complexity Index (PCI), alkyd resins are ranked 2717th.
|
Country |
Import Value of Alkyd Resins (in USD million) |
Country |
Export Value of Alkyd Resins (in USD million) |
|
U.S. |
100 |
Germany |
96.1 |
|
Vietnam |
59.8 |
Netherlands |
74.6 |
|
Germany |
53 |
Italy |
67.5 |
|
Canada |
46.5 |
Turkey |
56.8 |
|
France |
46.2 |
Egypt |
54.2 |
Source: OEC
- Recent advancements in nanotechnology-based functional coatings: Recently, functional coatings including anti-fouling, anti-reflective, and fire-retardant coatings have advanced due to nanotechnology, which has a huge influence on coating technology development. These coatings use nanoparticles to provide enhanced performance, durability, and sustainability. Nanotechnology-based coatings offer improved scratch resistance, corrosion resistance, and UV protection, reducing the need for frequent reapplication and minimizing waste. Additionally, these coatings can be formulated with eco-friendly materials, such as plant-based oils and natural waxes, and can be designed to be self-healing, reducing the environmental impact of coating production and disposal. The unique properties of nanotechnology-based coatings are expanding their applications in various industries, including construction, automotive, and consumer goods, hence driving the growth of the green coatings market. In a recent study, it was proposed that dendritic silica nanoparticles may significantly enhance the hydrophilicity of coatings. Researchers have shown a keen interest in the properties of silica nanoparticles due to their beneficial characteristics, which include volume effects, surface effects, and quantum size phenomena. Additionally, the presence of a substantial number of surface hydroxyl groups contributes to their hydrophilic nature.
Major companies are launching new products to strengthen their market dominance, significantly accelerating market growth. In March 2024, Cortec MCI introduced EcoAir Biobased outdoor coating, powered by Nano VpCI, for use in tough marine and high humidity settings. It forms an oily protective film that does not dry and can withstand temperatures up to 180 degrees Fahrenheit (82 degrees Celsius).
Challenges
- High cost and unavailability of specialty raw components: As people grow more conscious of concerns including climate change, global warming, and personal health, the market for green coatings with little or no solvent content is growing. To compete with coatings derived from fossil fuels, this industry must first overcome several obstacles. Renewable materials are substantially more expensive than petrochemical products. To become ecologically friendly, green coatings must undergo a challenging process, which increases their final cost. Users are hesitant to pay a greater price when there are less expensive solutions available. Therefore, this factor is expected to hinder the green coatings market.
- Development of less toxic synthetic technologies: Green chemistry can be used to create synthetic processes that are safe for the environment and create coatings that are favorable to the environment. In order to significantly minimize toxicity, which is extremely difficult, green solvents and industrial reactions have been used in many industrial processes. There are byproducts from every synthetic reaction that can be harmful to both the environment and human health.
Green Coatings Market: Key Insights
|
Base Year |
2024 |
|
Forecast Year |
2025-2037 |
|
CAGR |
5.1% |
|
Base Year Market Size (2024) |
USD 137.75 billion |
|
Forecast Year Market Size (2037) |
USD 262.98 billion |
|
Regional Scope |
|
Green Coatings Segmentation
Technology (Radiation-cure, High-solids, Powder, Waterborne)
By 2037, waterborne segment is set to dominate green coatings market share of over 72.2%. The segment growth can be attributed to its rising demand in metal industries. Waterborne coatings have exceptional mechanical strength, durability, chemical, abrasion, and corrosion resistance. These characteristics, which increase the longevity and aesthetic appeal of metal surfaces, make waterborne coatings an appealing choice for manufacturers. As a result of the increased need for long-lasting coatings, the segment is growing. Also, manufacturers are increasingly shifting to waterborne formulations as governments worldwide impose stricter rules to reduce volatile organic compounds (VOCs) and promote sustainable practices.
Application (Product Finishes, Packaging, Wood, High-performance, Industrial, Automotive, Architectural)
The architectural segment in green coatings market is anticipated to garner a significant share during the assessed period. The segment is expanding due to the growing building construction and construction industry, along with policies of environmental agencies to keep them eco-friendly. According to the International Energy Agency, there are currently 223 billion square meters of buildings in the world, and by 2050, that number will nearly quadruple to 415 billion square meters. Less than one percent of the current building stock is renovated annually, according to the Global Alliance for Building and Construction. To reach universal net zero carbon in the construction sector by 2050, rehabilitation rates must accelerate for each year of delay and rise by 3% annually beginning in 2017.
Additionally, rising awareness of indoor air quality and health concerns has pushed both residential and commercial construction sectors to adopt low-emission, water-based, and bio-based coatings. Further, technological advancements that improve the durability, performance, and aesthetic appeal of green coatings also contribute to their rising demand in the architectural sector.
Our in-depth analysis of the global green coatings market includes the following segments:
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Technology |
|
|
Application |
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Customize this ReportGreen Coatings Industry - Regional Synopsis
APAC Market Statistics
In green coatings market, Asia Pacific region is predicted to capture over 39.2% revenue share by 2037. The region's market is anticipated to increase due to a variety of factors, including rapid economic development, high consumer disposable income, a big population base in nations including China and India, and a large number of coating manufacturers in China. Furthermore, the region's rapid industrialization and urbanization, combined with the government's increasing assistance through some incentive programs, could present the region with profitable economic prospects.
In China, stringent environmental regulations are aimed at reducing industrial emissions and promoting sustainable manufacturing practices, driving market growth. The government policies are pushing industries, including the coatings sector, to shift toward low-VOC and eco-friendly alternatives. The State Council Information Office reported that to reduce air pollution in BTH, YRD, and Fenwei Plain, the government started the Blue-Sky Protection Campaign (BSPC), a three-year strategy, in 2018. Reducing the PM2.5 concentration by 18% from the 2015 level is one of the specific objectives. Rapid urbanization and growth in the construction industry have increased the demand for green coatings, particularly in the architectural and industrial segments.
Similarly, in India, the rising awareness about health hazards associated with conventional coatings has led consumers and industries to shift toward eco-friendly alternatives. Furthermore, the nation’s rapidly growing construction and automotive industries are driving demand for eco-friendly coatings. Consumers in India are also becoming more environmentally conscious, leading to increased demand for green coatings.
North American Market Analysis
North America green coatings market is expected to grow at a significant rate during the projected period. North America holds a significant market share in the global green coating industry, which can be ascribed to the region's environmental agencies' strict adherence to VOC regulations, which encourages paint and coating manufacturers to adopt green coatings. In addition, the region's R&D sector is constantly improving its products to make them more environmentally friendly.
Furthermore, the U.S. government’s regulations and initiatives such as the Clean Air Act and the Environmental Protection Agency’s (EPA) Safer Choice Program, are driving the adoption of green coatings. Additionally, the construction and building industry’s shift towards sustainable and green building practices, such as LEED certification, is fueling the demand for eco-friendly coatings. Furthermore, the growing trend of green technology and innovation in the nation is leading to the development of new and advanced green coating technologies, driving market growth.
Companies Dominating the Green Coatings Landscape
- AkzoNobel N.V.
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- PPG Industries, Inc.
- Axalta Coating Systems Ltd.
- BASF SE
- The Sherwin-Williams Company
- Covestro AG
- Hempel A/S
- Asian Paints Ltd.
- Jotun
- RPM International, Inc.
Companies use case studies, marketing efforts, and thought leadership materials to educate the public about the benefits of green coatings. The industry is also significantly supported by growing investments in research and development (R&D) to produce high-quality, low-VOC, aqueous coatings that meet environmental standards and offer outstanding performance. As an additional growth accelerator, partnerships with suppliers and research institutions are being formed to speed up the development of cutting-edge green coating solutions.
The major key players in the green coatings market are as follows:
In the News
- In February 2025, AkzoNobel scientists created a new aqueous wood coating with 20% bio-based content, which helps to expand the use of renewable raw resources while maintaining performance. RUBBOL WF 3350, introduced by the company's Sikkens Wood Coatings division, is a sprayable opaque coating that demonstrates AkzoNobel's innovative power and dedication to developing more sustainable solutions that meet the highest levels of quality and durability for consumers.
- In November 2024, Covestro, a materials company, expanded its localization and sustainability efforts in the Asia-Pacific area by starting production of a largely bio-based raw material for coatings, which is widely used in building and infrastructure applications. Following a successful launch in Europe in the third quarter, the business began increasing production of Desmophen CQ NH polyaspartic resins at its Foshan facility in southern China.
Author Credits: Rajrani Baghel
- Report ID: 7395
- Published Date: Mar 26, 2025
- Report Format: PDF, PPT
