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According to CMi Global Low VOC Paint Market Size, Forecast, Analysis & Share Surpass US$ 5188.95 Mn By 2030 At 5.8%CAGR

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Low VOC Paint Market was at US$ 211.34 Million in 2021 and is growing to approx US$ 5188.95 Million by 2030, with a CAGR growth of 5.8% between 2022 and 2030.

The Global Low VOC Paint Market was estimated at USD 211.34 Million in 2021 and is anticipated to reach around USD 5188.95 Million by 2030, growing at a CAGR of roughly 5.8% between 2022 and 2030.”

— Custom Market Insights

SANDY, UTAH, UNITED STATES, November 14, 2022 / — According to the study, The Global Low VOC Paint Market was estimated at USD 211.34 Million in 2021 and is anticipated to reach around USD 5188.95 Million by 2030, growing at a CAGR of roughly 5.8% between 2022 and 2030.

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Low VOC Paint Market: Overview

Low VOC paint contains a low or minimum amount of volatile organic compound. It is also considered a bio-based paint. It is a VOC solvent than traditional coatings. The paint won’t give off as much harmful gas as traditional paint because of low or minimum VOC. It should contain fewer than 50 grams of VOCs per litre. This paint is less harmful to the environment than traditional paint, due to which the market is overgrowing.

Low VOC Paint Market: Growth Drivers

Increasing demand from the architecture decorative trends is expected to act as one of the critical factors responsible for the growth of the global low VOC paints market. Low VOC paint is preferred over conventional coating materials due to their low volatile organic content, low toxicity, resistance to abrasion, and water retention capacity. As a result, low VOC paints are extensively used in the building infrastructure for interior and exterior protecting coating and decorative applications. According to an article published by the India Brand Equity Foundation, the paint market is expected to grow 20% annually in the next two years. These factors are anticipated to increase the demand for low-VOC paints in the architecture sector.

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Key Insights:

A) As per the analysis shared by our research analyst, the Low VOC Paint market is estimated to grow annually at a CAGR of around 5.8% over the forecast period (2022-2030).
B) In terms of revenue, the Low VOC Paint market was valued at around USD 211.34 Million in 2021 and is projected to reach USD 5188.95 Million by 2030. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
C) The production process for low-VOC paints is highly capital-intensive. In addition, fluctuation in raw material prices and sometimes unavailability of raw materials is expected to hamper the market.
D) The growing trend of renovation activities based on modern theme infrastructure has surged the popularity of low VOC paints, which are used to decorate walls, aesthetically pleasing floors, and others. This factor is anticipated to increase the potential sales of low VOC paints, thus, offering the most lucrative opportunities for the market to grow.
E) Over the forecast period, low VOC paints lead to complexity in manufacturing requirements of huge capital expenditure, and expertise is expected to dampen the market. Furthermore, the availability of several substitutes over low VC paints is likely to act as a challenging factor during the forecast period.

Press Release For Low VOC Paint Market :

Regional Landscape

Asia-Pacific is the dominant region in the low VOC paint market, with a total share of 36.89%. The utilization of low VOC paints has increased in the sectors such as building & construction, automotive, architecture and decorative, and other key market trends in the Asia-Pacific region. The building & construction sector is one of the booming sectors in the Asia-Pacific region owing to the rising population, increase in disposable income among people, and growing consumer demand for houses has surged the building and construction sector.

For instance, according to an article published by Invest India in August 2022, the construction Industry in India is expected to reach $1.4 Tn by 2025 due to a robust increase in the urban population which will significantly enhance the demand for low VOC paints where it gives protection to infrastructure without emitting harmful fumes in the environment. It is also used to decorate the windows & doors and floor slab surfaces.

Moreover, China is the world’s topmost producer of auto components, where low VOC paints are widely employed in sealing systems, interior roof panels, and other automotive parts as glassifying and finishing agents, propelling the market growth. In addition, according to data published by International Trade Administration, China’s construction industry is projected to grow at an annual average rate of 8.6% from 20220-2030. These factors are escalating the demand for low-VOC paints in the building and construction sector.

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Key Players

Benjamin Moore & Co.
The Sherwin-Williams Company
Akzo Nobel N.V.
PPG Industries Inc.
The Dow Chemical Company
American Formulating & Manufacturing
YOLO Colorhouse LLC
Dunn-Edwards Corporation
Wacker Chemie AG

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The Low VOC Paint Market is segmented as follows:

By Type

No or Zero VOC

By Technology

Solvent borne

By Application

Architecture and Decorative
General Industrial
Automotive OEM
Automotive Refinish
Consumer Durables
Other Applications

By Geography

North America

The UK
Rest of Europe

Asia Pacific

South Korea
Rest of Asia-pacific

Latin America

Rest of Latin America
Middle East and Africa
North Africa
South Africa
Rest of Middle East & Africa

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