Low VOC Paint Market

Low VOC Paint Market by Types (Low-VOC, No or Zero VOC, and Natural), Formulation Types (Water-borne, Solvent-borne, and Powder), Applications (Architecture & Decorative, General Industrial, Automotive OEM, Automotive Refinish, Marine, and Consumer Durables), and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028

  • Report ID: MC-3488
  • Author: Growth Market Reports
  • Rating: 4.8
  • Total Reviews: 2
  • No. Of Pages: 176
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The low VOC paint size is anticipated to expand at a considerable CAGR during the forecast period, 2021−2028. The growth of the market is attributed to increasing awareness about harmful effect from conventional paints.

Low VOC Paint Market key takeaways

The low VOC paints contains a less volatile organic compounds or VOC solvents than the traditional paints. The low VOC paints are used mainly in construction and automotive sector. Volatile organic compounds are emitted gases by various liquids and solids. The low VOC paints enhance indoor air quality and reduce urban smog. The characteristics of the low VOC paints offers such as protection from bacteria, corrosion, fungus, UV radiation and as well as excellent durability and a washable finish.

The Covid-19 pandemic affected the demand and supply of low VOC paints market. Lockdown across the globe, supply chain disorders, and oscillating supply of raw materials forced manufacturers to shut down production leading to unfortunate decline in market growth. Launch of vaccines to combat the Covid-19 pandemic is expected to contribute to the market growth over the forecast period.

Market Trends, Drivers, Restraints, and Opportunities

  • Changing preference towards eco-friendly chemicals and recycling of low VOC paints in the construction of green building is estimated to drive the market during the forecast period.
  • The increasing demand of low VOC paints for architectural and decorative industry is projected to fuel the market.
  • Increasing investment of government in the construction sector is expected to boost the low VOC paint market during the forecast period.
  • The production cost of low VOC paints is high than the conventional paints. This is hampering the market.
  • An imbalanced supply and demand of raw material is negative impact on the low VOC paint market.
  • The research and development in the low VOC paints for reducing cost is fueling the market during the forecast period.

Scope of the Report

The report on the low VOC paint market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes

Details

Report Title

The Low VOC Paint Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2020

Historic Data

2018–2019

Forecast Period

2021–2028

Segmentation

Types (Low-VOC, No or Zero VOC, and Natural), Formulation Types (Water-borne, Solvent-borne, and Powder), Applications (Architecture & Decorative, General Industrial, Automotive OEM, Automotive Refinish, Marine, and Consumer Durables)

Regional Scope

Asia Pacific, North America, Latin America, Europe, and Middle East & Africa

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Key Players Covered in the Report

BASF SE; Asian paints Ltd; Axalta Coating System LLC; AkzoNobel NV; The Sherwin-Williams Company

 

Market Segment Insights

The low VOC segment is expected to grow at a rapid pace

Based on types, the low VOC paint market is segmented into low-VOC, no or zero VOC and natural. The low VOC segment is expected to grow at a rapid pace during the forecast period because of the increasing demand in the architecture and construction sector.

Low VOC Paint Market by types

The water-borne segment is projected to expand at a considerable CAGR

On the basis of formulation types, the market is segregated into water-borne, solvent-borne, and powder. The water-borne segment is projected to expand at a considerable CAGR during the forecast period due to growing awareness and demand of low VOC paints.

The architectural & decorative segment is anticipated to register significant market share

Base on applications, the low VOC market is segmented into architecture & decorative, general industrial, automotive OEM, automotive refinish, marine, and consumer durables. The architectural & decorative segment is anticipated to register significant market share during the forecast period because the low VOC paints helps to protect from weather, termite attacks, make the surface waterproof, and increase the surface durability. On the other hand, the automotive OEM segment is anticipated to account for a major market share during the forecast period due to increasing investment and consumption of low VOC paints in the automotive industries.

Asia pacific is anticipated to constitute a key market share

In terms of regions, the low VOC paint market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Asia pacific is expected to constitute a key market share during the projected period owing to increasing investment in commercial and residential construction. In China numerous airport construction projects are on development or planning stage. In India, government targeted to invest USD 120.5 billion for developing 27 industrial clusters, which is estimated to boost the market during the forecast period.

Segments

Segments Covered in the Report
The low VOC paint market has been segmented on the basis of

Types

  • Low-VOC
  • No or Zero VOC
  • Natural
Formulation types
  • Water-borne
  • Solvent-borne
  • Powder
Applications
  • Architecture & Decorative
  • General Industrial
  • Automotive OEM
  • Automotive Refinish
  • Marine
  • Consumer Durables
Regions
  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa
Key players
  • BASF SE
  • Asian paints Ltd
  • Axalta Coating System LLC
  • AkzoNobel NV
  • The Sherwin-Williams Company

Competitive Landscape

Some of the key players competing in the low VOC paint market include BASF SE; Asian paints Ltd; Axalta Coating System LLC; AkzoNobel NV; The Sherwin-Williams Company.

These key players are constantly implementing several marketing strategies such as merger & acquisitions, capital investments, partnerships, and new product development to sustain industry position in the market.

Low VOC Paint Market by key players

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Low 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 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 Paint Market - Supply Chain
  4.5. Global Low VOC Paint Market Forecast
     4.5.1. Low VOC Paint Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Low VOC Paint Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Low VOC Paint Market Absolute $ Opportunity
5. Global Low 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 Paint Market Size and Volume Forecast by Types
     5.3.1. Low-VOC
     5.3.2. No or 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 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 Paint Market Size and Volume Forecast by Applications
     6.3.1. Architecture & Decorative
     6.3.2. General Industrial
     6.3.3. Automotive OEM
     6.3.4. Automotive Refinish
     6.3.5. Marine
     6.3.6. Consumer Durables
  6.4. Absolute $ Opportunity Assessment by Applications
  6.5. Market Attractiveness/Growth Potential Analysis by Applications
7. Global Low 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 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 Paint Demand Share Forecast, 2019-2026
8. North America Low 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 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 Paint Market Size and Volume Forecast by Types
     8.4.1. Low-VOC
     8.4.2. No or 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 Paint Market Size and Volume Forecast by Applications
     8.7.1. Architecture & Decorative
     8.7.2. General Industrial
     8.7.3. Automotive OEM
     8.7.4. Automotive Refinish
     8.7.5. Marine
     8.7.6. Consumer Durables
  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 Paint Demand Share Forecast, 2019-2026
9. Latin America Low 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 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 Paint Market Size and Volume Forecast by Types
     9.4.1. Low-VOC
     9.4.2. No or 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 Paint Market Size and Volume Forecast by Applications
     9.7.1. Architecture & Decorative
     9.7.2. General Industrial
     9.7.3. Automotive OEM
     9.7.4. Automotive Refinish
     9.7.5. Marine
     9.7.6. Consumer Durables
  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 Paint Demand Share Forecast, 2019-2026
10. Europe Low 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 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 Paint Market Size and Volume Forecast by Types
     10.4.1. Low-VOC
     10.4.2. No or 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 Paint Market Size and Volume Forecast by Applications
     10.7.1. Architecture & Decorative
     10.7.2. General Industrial
     10.7.3. Automotive OEM
     10.7.4. Automotive Refinish
     10.7.5. Marine
     10.7.6. Consumer Durables
  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 Paint Demand Share Forecast, 2019-2026
11. Asia Pacific Low 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 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 Paint Market Size and Volume Forecast by Types
     11.4.1. Low-VOC
     11.4.2. No or 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 Paint Market Size and Volume Forecast by Applications
     11.7.1. Architecture & Decorative
     11.7.2. General Industrial
     11.7.3. Automotive OEM
     11.7.4. Automotive Refinish
     11.7.5. Marine
     11.7.6. Consumer Durables
  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 Paint Demand Share Forecast, 2019-2026
12. Middle East & Africa Low 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 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 Paint Market Size and Volume Forecast by Types
     12.4.1. Low-VOC
     12.4.2. No or 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 Paint Market Size and Volume Forecast by Applications
     12.7.1. Architecture & Decorative
     12.7.2. General Industrial
     12.7.3. Automotive OEM
     12.7.4. Automotive Refinish
     12.7.5. Marine
     12.7.6. Consumer Durables
  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 Paint Demand Share Forecast, 2019-2026
13. Competition Landscape
  13.1. Global Low VOC Paint Market: Market Share Analysis
  13.2. Low VOC Paint Distributors and Customers
  13.3. Low VOC Paint Market: Competitive Dashboard
  13.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     13.4.1. BASF SE
     13.4.2. Asian paints Ltd
     13.4.3. Axalta Coating System LLC
     13.4.4. AkzoNobel NV
     13.4.5. The Sherwin-Williams Company

Segments Covered in the Report
The low VOC paint market has been segmented on the basis of

Types

  • Low-VOC
  • No or Zero VOC
  • Natural
Formulation types
  • Water-borne
  • Solvent-borne
  • Powder
Applications
  • Architecture & Decorative
  • General Industrial
  • Automotive OEM
  • Automotive Refinish
  • Marine
  • Consumer Durables
Regions
  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa
Key players
  • BASF SE
  • Asian paints Ltd
  • Axalta Coating System LLC
  • AkzoNobel NV
  • The Sherwin-Williams Company

Some of the key players competing in the low VOC paint market include BASF SE; Asian paints Ltd; Axalta Coating System LLC; AkzoNobel NV; The Sherwin-Williams Company.

These key players are constantly implementing several marketing strategies such as merger & acquisitions, capital investments, partnerships, and new product development to sustain industry position in the market.

Low VOC Paint Market by key players

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