Global Green Coating Market 2018-2022
About green coating
A coating is a layer of a substance spread over a surface for protection or decoration. Any coating that does not pollute the environment or indirectly reduces pollution during its production or application can be termed as a green coating.
Technavio’s analysts forecast the Global Green Coating Market 2018-2022to grow at a CAGR of 6.20% during the period 2018-2022.
Covered in this report
The report covers the present scenario and the growth prospects of the green coating market. To calculate the market size, the report considers the revenue generated from the sales of coating types such as waterborne coatings, powder coatings, high-solid coatings, and radiation cure coatings.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Green Coating Market 2018-2022
Technavio recognizes the following companies as the key players in the green coating market: Akzo Nobel, Henkel, PPG Industries, Sika, and The Sherwin-Williams
Commenting on the report, an analyst from Technavio’s team said: “Encouraging green building construction will be a key trend for this market growth. Combining low peak load design tenets and green building principles with zero-energy targets has a fundamental logic: reducing demand and peak loads to a level at which the envelope improvements are cost-effective, and all the building requirements can be met using a minimized, affordable, and active renewable energy system to reach the zero-energy state.”
According to the report, the implementation of solar-reflective coatings will be the key influencer of the market growth. Solar reflective coatings help lower the energy cost without compromising the durability, performance, or aesthetics. They also offer an array of color options, which have an enhanced light absorption capacity. Roofs with higher reflectance have lower surface temperatures, which help reduce ambient air temperatures and save money on air-conditioning costs.
Further, the report states that the high setup costs and incremental input costs will be a key challenge to the market growth. Manufacturers are struggling due to the high initial cost of investment required to switch over and set up the new system in the radiation cure coatings segment. Powder coating manufacturers are very vulnerable to the rising raw material costs during commodity price upturns.
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