Low VOC Paints and Coatings Market, by Type (Low-VOC, No or Zero VOC, Natural, Others), by Formulation Type (Water-borne, Solvent-borne, Powder, Other) and, by Application (Architecture and Decorative, General Industrial, Automotive OEM, Automotive Refinish, Marine, Consumer Durables, Others): Global Opportunity Analysis and Industry Forecast, 2023-2032

COVID-19 Impact analysis

The recent COVID-19 pandemic has caused the global economy to slow down. The food, pharmaceutical, and chemical industries are all experiencing significant sales declines. This scenario has had a negative impact on the global market’s growth. Aside from that, many players in the low VOC paints and coatings market are experiencing production and trading disruptions. As a result, key players in the low VOC paints and coatings market are focusing more on strategizing their business moves in order to resume normal operations.

Top Impacting Factors

Manufacturers have been encouraged to focus on the development of low VOC paints and coatings, as well as traditional oil-based or hydrocarbon solvent-based paints and coatings, due to stringent government and environmental regulations regarding the emission of harmful VOCs. The increase in the number of health problems such as asthma, allergies, and other breathing problems has resulted from the emission of harmful VOCs. Low VOC paints and coatings are in high demand because of this. The demand for low VOC paints and coatings has risen because of increased consumer awareness and ongoing technological advancements. As a result, significant funds have been allocated to the research and development of low-VOC paints and coatings. 

Market Trends 

• Manufacturers are concentrating on developing low VOC paints and coatings that perform similarly to traditional oil-based or solvent-based paints and coatings in terms of adhesion, hardness, and block resistance. These coatings come in a variety of colors and sheens, including stain and gloss.
• These coatings come in a variety of colors and sheens, including stain and gloss. Manufacturers are also concentrating on the development of low VOC paints and coatings with a finish similar to that of traditional oil-based paints and good levelling capacity.
• Manufacturers are focusing on the development of bio-based versions of paint & coating chemicals and other chemical compounds that can be widely deployed across the paints and coatings industry to meet the growing demand for advanced paints and coatings to meet the growing demand.
• Manufacturers are also ensuring that proper supply chains for low VOC paints and coatings distribution are in place, as well as strategically expanding their production plants and focusing on lowering the cost of low VOC paints and coatings.
• Demand for low VOC paints and coatings is growing because of increased regulatory pressure and public awareness of the environmental consequences of conventional paints and coatings. Instead of petroleum solvents, low VOC paints and coatings use water as a medium. Specialized solvents, such as de-aromatized solvents, are also used as a medium to reduce the content of volatile organic compounds.
• In addition to providing an aesthetic appeal to the building, decorative paints help protect the surface from the effects of weather, make the surface waterproof, protect the surface from termite attacks, and increase the surface durability.
• They also protect the structure from corrosion, bacteria, UV radiation, fungus, water seepage, and algae, as well as extending its life.
• The architectural and decorative industry dominates the demand for low VOC paints, which is fueled by rising residential and commercial construction activity around the world.
• Due to large domestic and foreign investments for industrial units, hospitals, malls, multiplexes, hotels and resorts, and the IT sector, the Asia-Pacific and Middle East & Africa regions have seen strong growth in residential construction.

Key Benefits of the Report

• This study presents the analytical depiction of the Low VOC paints and coatings market along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the Low VOC paints and coatings market share.
• The current market is quantitatively analyzed to highlight the Low VOC paints and coatings market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
• The report provides a detailed Low VOC paints and coatings market analysis based on competitive intensity and how the competition will take shape in coming years. 

Questions Answered in the Low VOC Paints and Coatings Market Report

• Who are the leading market players active in the Low VOC paints and coatings market?
• What current trends will influence the market in the next few years?
• What are the driving factors, restraints, and opportunities in the market?
• What future projections would help in taking further strategic steps?
• What are Low VOC paints and coatings?
• What does Low VOC paints and coatings allow organizations to achieve?
• Which technologies combine to make Low VOC paints and coatings critical organizational asset?
• What are the current trends and predicted trends?