With increasing awareness regarding the impact of volatile organic compounds (VOCs) on the environment as well as human health, the global market for low VOC or zero VOC paints has been witnessing steady growth. VOCs are organic chemical compounds that have high vapor pressures and easily evaporate at room temperature. They are emitted as gases from certain solids or liquids and are major contributors to indoor air pollution. Exposure to VOCs can cause short-term effects like eye, nose, and throat irritations along with headaches, loss of coordination, and nausea and long-term effects involve damage to the liver, kidney, and central nervous system. This has propelled the demand for low or no VOC paints which have lower concentrations of VOCs and produce less odors. With stringent regulations around the world regarding VOC emissions from paints and rise in green building projects, the low VOC and zero VOC paints market is expected to proliferate significantly over the coming years.
Market Dynamics:
The global low VOC or zero VOC paints market is driven by growing environmental consciousness, increasing regulatory push, and rise in green construction activities. Stringent norms by EPA in U.S. and REACH in Europe regarding VOC content in paints and coatings is positively impacting the demand for such products. However, high cost of low/zero VOC raw materials compared to conventional solvent borne paints and lack of awareness in developing nations continue to restrain the market growth. Advancements in waterborne resin technologies have improved the performance characteristics of low VOC paints, thereby increasing their acceptance. Rising urbanization and investments in infrastructure development across emerging economies of Asia Pacific and Latin America is creating new avenues. Leading paint manufactures are focusing on developing bio-based and environment-friendly product ranges to capitalize on green opportunities.
Key Features of the Study:
- This report provides in-depth analysis of the global low VOC or zero VOC paints market, and provides market size (US$ Bn) and compound annual growth rate (CAGR%) for the forecast period (2024–2031), considering 2023 as the base year
- It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
- It profiles key players in the global low VOC or zero VOC paints market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
- Key companies covered as a part of this study include Benjamin Moore & Co., The Sherwin-Williams Company, AkzoNobel N.V., PPG Industries Inc., The Dow Chemical Company, American Formulating & Manufacturing, YOLO Colorhouse LLC, Dunn-Edwards Corporation, Wacker Chemie AG, EcoProCote, BASF SE, Valspar Corporation, Behr Process Corporation, Rust-Oleum Corporation, Farrow & Ball, Little Greene, Auro Pflanzenchemie AG, BioAmber, Dulux, and Asian Paints
- Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
- The global low VOC or zero VOC paints market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
- Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global low VOC or zero VOC paints market
Detailed Segmentation-
- By Type Insights (Revenue, USD Bn, 2019 - 2031)
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- Architectural Paints
- Industrial Coatings
- Automotive Coatings
- Specialty Coatings
- By Application Insights (Revenue, USD Bn, 2019 - 2031)
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- Residential
- Commercial
- Industrial
- Others
- By Distribution Channel Insights (Revenue, USD Bn, 2019 - 2031)
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- Online Retail
- Wholesale/Retail Stores
- Direct Sales
- By Regional Insights (Revenue, USD Bn 2019 - 2031)
- North America
- Latin America
- Brazil
- Argentina
- Mexico
- Rest of Latin America
- Europe
- Germany
- U.K.
- Spain
- France
- Italy
- Russia
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- Middle East
- GCC Countries
- Israel
- Rest of Middle East
- Africa
- South Africa
- North Africa
- Central Africa
- Key Players Insights
- Benjamin Moore & Co.
- The Sherwin-Williams Company
- AkzoNobel N.V.
- PPG Industries Inc.
- The Dow Chemical Company
- American Formulating & Manufacturing
- YOLO Colorhouse LLC
- Dunn-Edwards Corporation
- Wacker Chemie AG
- EcoProCote
- BASF SE
- Valspar Corporation
- Behr Process Corporation
- Rust-Oleum Corporation
- Farrow & Ball
- Little Greene
- Auro Pflanzenchemie AG
- BioAmber
- Dulux
- Asian Paints
