Global Green Coating Market – Encouraging Green Building Construction to Become a Major Trend | Technavio

LONDON–(BUSINESS WIRE)–#Research–Technavio’s latest market research report on the global
green coating market provides an analysis of the most important
trends expected to impact the market outlook from 2018-2022. Technavio
defines an emerging trend as a factor that has the potential to
significantly impact the market and contribute to its growth or decline.

According to Technavio analysts, the global
green coating market will grow at a CAGR of over 6% during
the forecast period. The implementation of solar-reflective coatings is
a major factor driving the market’s growth.

When sun rays strike the exterior of a building, the absorbed infrared
light is converted to heat, which results in an overall increase in the
building temperature. This problem, when combined with urbanization,
increases due to the presence of smog, asphalt, and a lack of vegetation
and results in a phenomenon known as the heat island effect. This effect
increases the cost of air conditioning and electricity expenditure for
building owners. Manufacturers are concentrating on solar reflective
pigments that reflect infrared radiation while still absorbing the same
amount of visible light to counter the heat island effect.

Manufacturers were able to incorporate these pigments and develop solar
reflective coatings, which help the exteriors of buildings to remain
much cooler than the buildings painted with non-reflective pigments.
Solar reflective coatings aid in lowering the energy cost without
compromising the durability, performance, or aesthetics. They also offer
a vast option of colors, 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.

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In this report, Technavio highlights encouraging green building
construction as one of the key emerging trends driving the global green
coating market:

Encouraging green building construction

The European Parliament made a commitment to the United Nations
Framework Convention on Climate Change regarding widening the levels of
carbon reductions as per the Kyoto Protocol, in 2010. The protocol
stated the increase of renewable energy supplies along with the adoption
of passive building strategies. EU members had committed to achieving
nearly zero-energy buildings by 2020.

“Performance metric has been the primary focus for Europe. The
introduction of the German Passivhaus performance standard has helped
this passive design methodology in gaining extensive popularity. In
countries such as Belgium, Sweden, and Switzerland, certain variations
in metrics and style of approach have been introduced,” says a
senior analyst at Technavio for research on paints,
coatings, and pigments.

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Global green coating market segmentation

This market research report segments the global
green coating market into the following types (waterborne
coatings, powder coatings, high-solid coatings, and radiation cure
coatings) and key regions (APAC, Europe, North America, and ROW).

The waterborne coatings segment held the largest market share in 2017,
accounting for nearly 79% of the market. The market share for this type
is expected to decrease by 2022. The fastest growing type is high-solid
coatings, which will account for nearly 8% of the total market share by
2022.

APAC was the leading region for the global green coating market in 2017,
accounting for a market share of nearly 33%. By 2022, APAC is expected
to continue dominating the market and register a market growth of nearly
2%.

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