Low VOC or Zero VOC Paint Market Size, Share & Growth [2031]
Low VOC or Zero VOC Paint Market Size, Share & Growth [2031]
Segments - Low VOC or Zero VOC Paint Market by Type (Low VOC, Zero VOC, and Natural), Formulation Type (Powder, Solvent-borne, and Water-borne), Application (General Industrial, Marine, Architecture & Decorative, Automotive Refinish, Automotive OEM, Consumer Durables, and Others), and Region (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 – 2031
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| Report ID :MC-5082
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| 174 Pages
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Report Description
The global low VOC or Zero VOC paint market size was USD 8700 Mn in 2022 and is likely to reach USD XX Mn by 2031, expanding at a CAGR of 6.46% during 2023–2031. Growing automobiles and production are likely to drive the market.
Low VOC or zero VOC paint refers to paint products that contain reduced or no amounts of harmful chemicals that are emitted into the air. VOCs are organic chemicals that have a high vapor pressure at room temperature, which can contribute to air pollution and have adverse health effects.
Traditional paints contain high levels of VOCs, which cause a variety of health problems such as eye irritation, headaches, dizziness, and even long-term respiratory issues. Low VOC or zero VOC paints are designed to have minimal or no emissions of these harmful chemicals.
Low VOC or zero VOC paint products are made from natural and organic materials such as water, plant oils, and natural pigments, which make them environmentally friendly and safe to use. These paints are becoming increasingly popular, and many paint manufacturers now offer a range of low VOC or zero VOC paint options for consumers.
Low VOC or Zero VOC Paint Market Dynamics
Major Trends:
Increasing popularity of low-VOC paints, owing to less odor, better coverage, quick drying, and durability is boosting the market. Low VOC paints help to reduce allergy-causing toxins and reduce the contaminants in the ozone layer along with groundwater and landfills. Moreover, low-VOC paints are easy to find and available in an extensive range of colors.
Major Drivers:
Conventional paints exhibit harmful effects on human health. However, growing awareness of low VOC paints compared to conventional paints boosts the market. Rising environmental regulations coupled with growing consumer awareness, in turn, natural paints are getting traction in the market. These natural paints are made with raw ingredients such as chalk, clay, marble, and mineral pigments.
Restraints:
Low VOC paints result in decreased longevity of the paints, which is projected to restrain the market. This low VOC paints most likely needs to be re-applied the paint more often and costs more money. Moreover, fluctuating prices of raw materials is hampering the market.
Opportunities:
Increase in the construction of green buildings is projected to create lucrative opportunities for the market players. Leadership in Energy and Environmental Design (LEED) is the most used green building rating system in the world. It provides a framework for healthy, cost-saving, and efficient green buildings.
Shifting consumers’ preference toward bio-chemicals is anticipated to create lucrative opportunities in the market. Traditional paints dispose of VOCs which consist of several toxic chemicals such as formaldehyde, xylene, glycol, methylene chloride, and others.
Scope of the Low VOC or Zero VOC Paint Report
The market report includes an assessment of the market trends, market segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes |
Details |
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Report Title |
Low VOC or Zero VOC Paint Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
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Base Year |
2022 |
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Historic Data |
2016–2021 |
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Forecast Period |
2023–2031 |
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Segmentation |
Type (Low VOC, Zero VOC, and Natural), Formulation Type (Powder, Solvent-borne, and Water-borne), and Application (General Industrial, Marine, Architecture & Decorative, Automotive Refinish, Automotive OEM, Consumer Durables, and Others) |
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Regional Scope |
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa |
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Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, Market Trends, and Revenue Forecast |
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Key Players Covered in the Report |
Eco Safety Products; Cloverdale Paint Inc.; BioShield Paint Company; Berger Paints India Limited; Benjamin Moore & Co.; BASF SE; Axalta Coating Systems, LLC; Asian Paints; American Formulating & Manufacturing; and Akzo Nobel N.V. |
Low VOC or Zero VOC Paint Market Segment Insights
Based on type, the low VOC or zero VOC paint market is divided into low VOC, zero VOC, and natural. The low VOC segment is expected to expand at a significant pace during the projection period, due to the increasing demand for the transportation and construction industry. The segment growth is attributed to the increasing demand for interior paintings of residential and office spaces is boosting the low VOC segment.
The zero VOC segment is anticipated to hold a key share of the market in the coming years, as it helps in minimizing the concentration of contaminants. Zero VOC has longer re-coat cycles and better edge retention during drying.
On the basis of formulation type, the global market is segregated into powder, solvent-borne, and water-borne. The water-borne segment is anticipated to register a considerable CAGR during the forecast period, due to its applicability and environmental sustainability. Water-borne is less flammable, odorless, less toxic, and have low VOC as compared to solvent-borne paints.
The solvent-borne segment is anticipated to account for a major market share in the coming years. Solvent-borne has excellent block resistance and tolerance regarding harsh weather conditions. The solvent-borne coating is more resilient than a water-borne coating, during the curing of the coating.
Based on application, the low VOC or zero VOC paint market is segmented into general industrial, marine, architecture & decorative, automotive refinish, automotive OEM, consumer durables, and others. The general industrial segment is expected to register a robust growth rate during the forecast period, due to the increasing demand for gas installations, road-making paints, pipelines, metal packaging, and others.
The automotive original equipment manufacturer (OEM) segment is projected to hold a large market share in the coming years, due to the robust growth in the automotive industry. Paint is used as a protective coating to protect the vehicle from the damages occurred owing to external factors such as accidents.
In terms of region, the global low VOC or zero VOC paint market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Asia Pacific is expected to dominate the market during the projection period, due to the rapid growth in the construction sector. Increasing the number of green buildings has a positive impact on the low-VOC or zero-VOC paint market.
Segments
The global low VOC or zero VOC paint market has been segmented on the basis of
Type
- Low VOC
- Zero VOC
- Natural
Formulation Type
- Powder
- Solvent-borne
- Water-borne
Application
- General Industrial
- Marine
- Architecture & Decorative
- Automotive Refinish
- Automotive OEM
- Consumer Durables
- Others
Region
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- Eco Safety Products
- Cloverdale Paint Inc.
- BioShield Paint Company
- Berger Paints India Limited
- Benjamin Moore & Co.
- BASF SE
- Axalta Coating Systems, LLC
- Asian Paints
- American Formulating & Manufacturing
- Akzo Nobel N.V.
Competitive Landscape
Key players competing in the global low VOC or zero VOC paint market are Eco Safety Products; Cloverdale Paint Inc.; BioShield Paint Company; Berger Paints India Limited; Benjamin Moore & Co.; BASF SE; Axalta Coating Systems, LLC; Asian Paints; American Formulating & Manufacturing; and Akzo Nobel N.V.
These key players adopt various strategies including mergers, acquisitions, production expansion partnerships, product launches, and collaboration to expand their consumer base globally.
- In March 2021, Benjamin Moore launched Corotech COMMAND, its newest facility maintenance and property management professionals. COMMAND is a single-component and multi-substrate solution that saves time and allows painters to challenge multiple jobs.
- In December 2022, Axalta signed an agreement with Steer Automotive Group, the UK’s largest independently owned vehicle repair organization. Axalta is supplying its premium refinish brand Standox to Steer Automotive Group.
Table Of Content
1. Executive Summary2. Assumptions and Acronyms Used
3. Research Methodology
4. Low VOC or Zero VOC Paint Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Low VOC or Zero VOC Paint Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Low VOC or Zero VOC Paint Market - Supply Chain
4.5. Global Low VOC or Zero VOC Paint Market Forecast
4.5.1. Low VOC or Zero VOC Paint Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Low VOC or Zero VOC Paint Market Size (000’ Units) and Y-o-Y Growth
4.5.3. Low VOC or Zero VOC Paint Market Absolute $ Opportunity
5. Global Low VOC or Zero VOC Paint Market Analysis and Forecast by Types
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Types
5.2.2. Y-o-Y Growth Projections by Types
5.3. Low VOC or Zero VOC Paint Market Size and Volume Forecast by Types
5.3.1. Low VOC
5.3.2. Zero VOC
5.3.3. Natural
5.4. Absolute $ Opportunity Assessment by Types
5.5. Market Attractiveness/Growth Potential Analysis by Types
6. Global Low VOC or Zero VOC Paint Market Analysis and Forecast by Applications
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Applications
6.2.2. Y-o-Y Growth Projections by Applications
6.3. Low VOC or Zero VOC Paint Market Size and Volume Forecast by Applications
6.3.1. General Industrial
6.3.2. Marine
6.3.3. Architecture & Decorative
6.3.4. Automotive Refinish
6.3.5. Automotive OEM
6.3.6. Consumer Durables
6.3.7. Others
6.4. Absolute $ Opportunity Assessment by Applications
6.5. Market Attractiveness/Growth Potential Analysis by Applications
7. Global Low VOC or Zero VOC Paint Market Analysis and Forecast by Region
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Region
7.2.2. Y-o-Y Growth Projections by Region
7.3. Low VOC or Zero VOC Paint Market Size and Volume Forecast by Region
7.3.1. North America
7.3.2. Latin America
7.3.3. Europe
7.3.4. Asia Pacific
7.3.5. Middle East and Africa (MEA)
7.4. Absolute $ Opportunity Assessment by Region
7.5. Market Attractiveness/Growth Potential Analysis by Region
7.6. Global Low VOC or Zero VOC Paint Demand Share Forecast, 2019-2026
8. North America Low VOC or Zero VOC Paint Market Analysis and Forecast
8.1. Introduction
8.1.1. Basis Point Share (BPS) Analysis by Country
8.1.2. Y-o-Y Growth Projections by Country
8.2. North America Low VOC or Zero VOC Paint Market Size and Volume Forecast by Country
8.2.1. U.S.
8.2.2. Canada
8.3. Absolute $ Opportunity Assessment by Country
8.4. North America Low VOC or Zero VOC Paint Market Size and Volume Forecast by Types
8.4.1. Low VOC
8.4.2. Zero VOC
8.4.3. Natural
8.5. Basis Point Share (BPS) Analysis by Types
8.6. Y-o-Y Growth Projections by Types
8.7. North America Low VOC or Zero VOC Paint Market Size and Volume Forecast by Applications
8.7.1. General Industrial
8.7.2. Marine
8.7.3. Architecture & Decorative
8.7.4. Automotive Refinish
8.7.5. Automotive OEM
8.7.6. Consumer Durables
8.7.7. Others
8.8. Basis Point Share (BPS) Analysis by Applications
8.9. Y-o-Y Growth Projections by Applications
8.10. Market Attractiveness/Growth Potential Analysis
8.10.1. By Country
8.10.2. By Product Type
8.10.3. By Application
8.11. North America Low VOC or Zero VOC Paint Demand Share Forecast, 2019-2026
9. Latin America Low VOC or Zero VOC Paint Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.1.3. Latin America Average Pricing Analysis
9.2. Latin America Low VOC or Zero VOC Paint Market Size and Volume Forecast by Country
9.2.1. Brazil
9.2.2. Mexico
9.2.3. Rest of Latin America
9.3. Absolute $ Opportunity Assessment by Country
9.4. Latin America Low VOC or Zero VOC Paint Market Size and Volume Forecast by Types
9.4.1. Low VOC
9.4.2. Zero VOC
9.4.3. Natural
9.5. Basis Point Share (BPS) Analysis by Types
9.6. Y-o-Y Growth Projections by Types
9.7. Latin America Low VOC or Zero VOC Paint Market Size and Volume Forecast by Applications
9.7.1. General Industrial
9.7.2. Marine
9.7.3. Architecture & Decorative
9.7.4. Automotive Refinish
9.7.5. Automotive OEM
9.7.6. Consumer Durables
9.7.7. Others
9.8. Basis Point Share (BPS) Analysis by Applications
9.9. Y-o-Y Growth Projections by Applications
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.11. Latin America Low VOC or Zero VOC Paint Demand Share Forecast, 2019-2026
10. Europe Low VOC or Zero VOC Paint Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Europe Average Pricing Analysis
10.2. Europe Low VOC or Zero VOC Paint Market Size and Volume Forecast by Country
10.2.1. Germany
10.2.2. France
10.2.3. Italy
10.2.4. U.K.
10.2.5. Spain
10.2.6. Russia
10.2.7. Rest of Europe
10.3. Absolute $ Opportunity Assessment by Country
10.4. Europe Low VOC or Zero VOC Paint Market Size and Volume Forecast by Types
10.4.1. Low VOC
10.4.2. Zero VOC
10.4.3. Natural
10.5. Basis Point Share (BPS) Analysis by Types
10.6. Y-o-Y Growth Projections by Types
10.7. Europe Low VOC or Zero VOC Paint Market Size and Volume Forecast by Applications
10.7.1. General Industrial
10.7.2. Marine
10.7.3. Architecture & Decorative
10.7.4. Automotive Refinish
10.7.5. Automotive OEM
10.7.6. Consumer Durables
10.7.7. Others
10.8. Basis Point Share (BPS) Analysis by Applications
10.9. Y-o-Y Growth Projections by Applications
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.11. Europe Low VOC or Zero VOC Paint Demand Share Forecast, 2019-2026
11. Asia Pacific Low VOC or Zero VOC Paint Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Asia Pacific Average Pricing Analysis
11.2. Asia Pacific Low VOC or Zero VOC Paint Market Size and Volume Forecast by Country
11.2.1. China
11.2.2. Japan
11.2.3. South Korea
11.2.4. India
11.2.5. Australia
11.2.6. Rest of Asia Pacific (APAC)
11.3. Absolute $ Opportunity Assessment by Country
11.4. Asia Pacific Low VOC or Zero VOC Paint Market Size and Volume Forecast by Types
11.4.1. Low VOC
11.4.2. Zero VOC
11.4.3. Natural
11.5. Basis Point Share (BPS) Analysis by Types
11.6. Y-o-Y Growth Projections by Types
11.7. Asia Pacific Low VOC or Zero VOC Paint Market Size and Volume Forecast by Applications
11.7.1. General Industrial
11.7.2. Marine
11.7.3. Architecture & Decorative
11.7.4. Automotive Refinish
11.7.5. Automotive OEM
11.7.6. Consumer Durables
11.7.7. Others
11.8. Basis Point Share (BPS) Analysis by Applications
11.9. Y-o-Y Growth Projections by Applications
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.11. Asia Pacific Low VOC or Zero VOC Paint Demand Share Forecast, 2019-2026
12. Middle East & Africa Low VOC or Zero VOC Paint Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Middle East & Africa Average Pricing Analysis
12.2. Middle East & Africa Low VOC or Zero VOC Paint Market Size and Volume Forecast by Country
12.2.1. Saudi Arabia
12.2.2. South Africa
12.2.3. UAE
12.2.4. Rest of Middle East & Africa (MEA)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Middle East & Africa Low VOC or Zero VOC Paint Market Size and Volume Forecast by Types
12.4.1. Low VOC
12.4.2. Zero VOC
12.4.3. Natural
12.5. Basis Point Share (BPS) Analysis by Types
12.6. Y-o-Y Growth Projections by Types
12.7. Middle East & Africa Low VOC or Zero VOC Paint Market Size and Volume Forecast by Applications
12.7.1. General Industrial
12.7.2. Marine
12.7.3. Architecture & Decorative
12.7.4. Automotive Refinish
12.7.5. Automotive OEM
12.7.6. Consumer Durables
12.7.7. Others
12.8. Basis Point Share (BPS) Analysis by Applications
12.9. Y-o-Y Growth Projections by Applications
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.11. Middle East & Africa Low VOC or Zero VOC Paint Demand Share Forecast, 2019-2026
13. Competition Landscape
13.1. Global Low VOC or Zero VOC Paint Market: Market Share Analysis
13.2. Low VOC or Zero VOC Paint Distributors and Customers
13.3. Low VOC or Zero VOC Paint Market: Competitive Dashboard
13.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
13.4.1. Eco Safety Products
13.4.2. Cloverdale Paint Inc.
13.4.3. BioShield Paint Company
13.4.4. Berger Paints India Limited
13.4.5. Benjamin Moore & Co.
13.4.6. BASF SE
13.4.7. Axalta Coating Systems, LLC
13.4.8. Asian Paints
13.4.9. American Formulating & Manufacturing
13.4.10. Akzo Nobel N.V.
Methodology
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