Overview
Low VOC Paint Market is forecast
to reach $12.79 billion by 2025, after growing at a CAGR of 6.92% during
2020-2025. The increase in health issues and
rising public laws are boosting worldwide market demand for Powder Coatings.
Strict regulation of VOC emissions and favorable government measures to promote
the use of Low VOC Paint and
accelerate the manufacturing of Architecture & Decorative in Asia-Pacific
and Europe is key variables influencing the industry. On the other hand,
rising expenses of raw materials are anticipated to increase the industry. These
factors attribute to the market growth of Low VOC Paint.
Report Coverage
The report: “Low VOC Paint Market – Forecast (2020-2025)”, by IndustryARC, covers
an in-depth analysis of the following segments of the Low VOC Paint Market.
Key Takeaways
- The automotive industry is prepared to witness a seismic shift with an increased production rate in the future, which will further flourish the market for Low
VOC Paint and the industry will witness a definite upsurge of demand that will increase revenue.
- A
growing safety threat connected with exposure to paints, particularly those
containing lead in them, resulting in the World Health Organization to cooperate
with the United Nations Environment Program to create a cooperative project
called the Global Alliance to Eliminate Lead Paint. By 2050, the Alliance vowed to eliminate fully
use of lead paint in 70 countries and encouraged industries to actively use Low
VOC Paint in their general metal finishing
activities. This factor is expected to
be a powerful driver of growth in the global market for Low VOC Paint.
- Factors such as technological advancement, the convenience of use, product development and increased consumer spending are the main drivers of the growth of the industry for Low VOC Paint.
- Strong perspective in manufacturing, house equipment and architecture applications will boost market demand for Low VOC Paint over the timeframe prediction.
Formulation Type- Segment Analysis
The water-borne segment held the
largest share in the Low VOC Paint Market in 2018. Waterborne coating is generally used water as a solvent to disperse the resin which is added to
create the coating. Its composition varies and may include as much as 80% water
with small amounts of other solvents such as glycol ethers. High water content
makes waterborne coatings both environmentally friendly and easy to apply.
Waterborne coatings meet the U.S. and European regulations governing VOC
(volatile organic compound) emissions, organic chemicals, producing VOC content
pf less than 3.5 pounds per gallon. In addition to their low toxicity, their
high water content also makes waterborne coatings less flammable and results in
reduction or elimination of hazardous waste disposal.
Application - Segment Analysis
Architecture
& Decorative sector has been the primary market for Low VOC Paint is
growing at a CAGR of 7.12%. Decorative paints are the major application of Low
VOC Paint accounts to more than 30% consumption of global Low VOC Paint and
the major formulation used is waterborne, which holds a share of around 70%.
For the past few decades, solvent-borne coatings were employed for coating of
buildings and this trend was shifted towards waterborne coatings due to the
environmental regulations, lower VOC levels and cost, odorless factors.
Decorative, protective coatings have been the preferred choice for interior
wall coatings for over sixty years. Especially, in areas where children or the
elderly are present such as schools and hospitals as interior wall coatings
account for by far the largest part of usage in an architectural application.
Geography - Segment Analysis
APAC dominated the Low VOC Paint Market with a share of more than 47.2%, followed by North America and Europe. According to the International Monetary Funds, the economic growth in the APAC region is estimated to be around 5.5%-6% during the forecast period 2015-2020. India is likely to witness a USD 1.3 trillion investment in housing over the next seven years, where the country is likely to see 60 million new homes being built. It is anticipated that the supply of affordable housing in India will increase by about 70% by 2024. The' Housing for All by 2022' of the Indian government scheme is a major game-changer for the industry. The growing demand for infrastructure development provides continuous impetus to the construction and building industry in APAC, in turn, propelling the demand for Low VOC Paint in the Architecture industry.
Drivers – Low VOC Paint Market
- Stringent regulations by the government and environmental agencies
Emitting toxic VOCs has led to the production of
alternative solutions such as low VOC paints and conventional oil and
hydrocarbon-based chemicals. The release of toxic VOCs has increased the number
of health problems such as asthma and allergies. It leads to low VOC paint
requirements. Increased consumer awareness and ongoing technological
developments have also created an increase in the demand for low VOC paints.
Consequently, significant investments have been made in the research and
development of low VOC paints.
Challenges – Low VOC Paint Market
- High Cost When Compared to Conventional Paint
The high cost associated with
producing low VOC paints is the main challenge faced by the global low VOC
paint market Compared to conventional hydrocarbon solvents, the advanced
solvents used in low VOC paints are expensive. Manufacturers are struggling
with three criteria of stable pricing, enhanced usability, and green chemistry
in low VOC layers, and the challenge was for market players on the low VOC
paint market to maintain stable.
Market Landscape
In 2018, the market of Low VOC Paint has been consolidated
by the top five players accounting for xx% of the share. Major players in the Low
VOC Paint Market are AkzoNobel NV, Asian Paints Ltd, BASF SE, Axalta Coating
Systems LLC, and The Sherwin-Williams Company, among others.
1.1 Definitions and Scope
2. Low VOC Paint Market - Executive summary
2.1 Market Revenue, Market Size and Key Trends by Company
2.2 Key Trends by type of Application
2.3 Key Trends segmented by Geography
3. Low VOC Paint Market
3.1 Comparative analysis
3.1.1 Product Benchmarking - Top 10 companies
3.1.2 Top 5 Financials Analysis
3.1.3 Market Value split by Top 10 companies
3.1.4 Patent Analysis - Top 10 companies
3.1.5 Pricing Analysis
4. Low VOC Paint Market - Startup companies Scenario Premium
4.1 Top 10 startup company Analysis by
4.1.1 Investment
4.1.2 Revenue
4.1.3 Market Shares
4.1.4 Market Size and Application Analysis
4.1.5 Venture Capital and Funding Scenario
5. Low VOC Paint Market - Industry Market Entry Scenario Premium
5.1 Regulatory Framework Overview
5.2 New Business and Ease of Doing business index
5.3 Case studies of successful ventures
5.4 Customer Analysis - Top 10 companies
6. Low VOC Paint Market Forces
6.1 Drivers
6.2 Constraints
6.3 Challenges
6.4 Porters five force model
6.4.1 Bargaining power of suppliers
6.4.2 Bargaining powers of customers
6.4.3 Threat of new entrants
6.4.4 Rivalry among existing players
6.4.5 Threat of substitutes
7. Low VOC Paint Market - Strategic analysis
7.1 Value chain analysis
7.2 Opportunities analysis
7.3 Product life cycle
7.4 Suppliers and distributors Market Share
11.1 Low VOC Paint Market - North America Segment Research
11.2 North America Market Research (Million / $Billion)
11.2.1 Segment type Size and Market Size Analysis
11.2.2 Revenue and Trends
11.2.3 Application Revenue and Trends by type of Application
11.2.4 Company Revenue and Product Analysis
11.2.5 North America Product type and Application Market Size
11.2.5.1 U.S
11.2.5.2 Canada
11.2.5.3 Mexico
11.2.5.4 Rest of North America
11.3 Low VOC Paint- South America Segment Research
11.4 South America Market Research (Market Size -$Million / $Billion)
11.4.1 Segment type Size and Market Size Analysis
11.4.2 Revenue and Trends
11.4.3 Application Revenue and Trends by type of Application
11.4.4 Company Revenue and Product Analysis
11.4.5 South America Product type and Application Market Size
11.4.5.1 Brazil
11.4.5.2 Venezuela
11.4.5.3 Argentina
11.4.5.4 Ecuador
11.4.5.5 Peru
11.4.5.6 Colombia
11.4.5.7 Costa Rica
11.4.5.8 Rest of South America
11.5 Low VOC Paint- Europe Segment Research
11.6 Europe Market Research (Market Size -$Million / $Billion)
11.6.1 Segment type Size and Market Size Analysis
11.6.2 Revenue and Trends
11.6.3 Application Revenue and Trends by type of Application
11.6.4 Company Revenue and Product Analysis
11.6.5 Europe Segment Product type and Application Market Size
11.6.5.1 U.K
11.6.5.2 Germany
11.6.5.3 Italy
11.6.5.4 France
11.6.5.5 Netherlands
11.6.5.6 Belgium
11.6.5.7 Denmark
11.6.5.8 Spain
11.6.5.9 Rest of Europe
11.7 Low VOC Paint - APAC Segment Research
11.8 APAC Market Research (Market Size -$Million / $Billion)
11.8.1 Segment type Size and Market Size Analysis
11.8.2 Revenue and Trends
11.8.3 Application Revenue and Trends by type of Application
11.8.4 Company Revenue and Product Analysis
11.8.5 APAC Segment - Product type and Application Market Size
11.8.5.1 China
11.8.5.2 Australia
11.8.5.3 Japan
11.8.5.4 South Korea
11.8.5.5 India
11.8.5.6 Taiwan
11.8.5.7 Malaysia
11.8.5.8 Hong kong
11.8.5.9 Rest of APAC
11.9 Low VOC Paint - Middle East Segment and Africa Segment Research
11.10 Middle East & Africa Market Research (Market Size -$Million / $Billion)
11.10.1 Segment type Size and Market Size Analysis
11.10.2 Revenue and Trend Analysis
11.10.3 Application Revenue and Trends by type of Application
11.10.4 Company Revenue and Product Analysis
11.10.5 Middle East Segment Product type and Application Market Size
11.10.5.1 Israel
11.10.5.2 Saudi Arabia
11.10.5.3 UAE
11.10.6 Africa Segment Analysis
11.10.6.1 South Africa
11.10.6.2 Rest of Middle East & Africa
12. Low VOC Paint Market - Entropy
12.1 New product launches
12.2 M&A s, collaborations, JVs and partnerships
13. Low VOC Paint Market - Industry / Segment Competition landscape Premium
13.1 Market Share Analysis
13.1.1 Market Share by Country- Top companies
13.1.2 Market Share by Region- Top 10 companies
13.1.3 Market Share by type of Application - Top 10 companies
13.1.4 Market Share by type of Product / Product category- Top 10 companies
13.1.5 Market Share at global level - Top 10 companies
13.1.6 Best Practises for companies
14. Low VOC Paint Market - Key Company List by Country Premium
15. Low VOC Paint Market Company Analysis
15.1 Market Share, Company Revenue, Products, M&A, Developments
16.1 Abbreviations
16.2 Sources
17. Low VOC Paint Market - Methodology
17.1 Research Methodology
17.1.1 Company Expert Interviews
17.1.2 Industry Databases
17.1.3 Associations
17.1.4 Company News
17.1.5 Company Annual Reports
17.1.6 Application Trends
17.1.7 New Products and Product database
17.1.8 Company Transcripts
17.1.9 R&D Trends
17.1.10 Key Opinion Leaders Interviews
17.1.11 Supply and Demand Trends