What are the Historical Developments and Current Growth Metrics of the Low VOC Paint Market?
The low voc paint market has seen considerable growth due to a variety of factors.
• The low VOC paint market has seen significant growth in recent years. It is projected to increase from $2.82 billion in 2024 to $3.08 billion in 2025, with a CAGR of 9.1%.
This growth is driven by stricter environmental regulations, higher media coverage, growing demand for green building materials, urbanization, and greater awareness of indoor air quality.
What Does Future Hold for The Low VOC Paint Market By 2029?
The low voc paint market is expected to maintain its strong growth trajectory in upcoming years.
• The low VOC paint market is set to reach $4.31 billion by 2029, growing at a CAGR of 8.8%.
Factors fueling this growth include heightened environmental awareness, infrastructure development, expansion in end-use industries, market penetration, and awareness campaigns. Notable trends are the shift towards waterborne formulations, demand for sustainable products, the integration of advanced technologies, and innovation in customized paint solutions.
What Are The Primary Growth Drivers In The Low VOC Paint Market?
The growth in construction activities is anticipated to drive the low VOC paint market. Construction activities involve building, renovating, or demolishing structures like buildings, bridges, and roads, driven by population growth, urbanization, and real estate investment. Low VOC paints are used in new buildings to improve indoor air quality and meet environmental regulations. For example, in November 2023, the International Trade Administration reported that the construction industry in the U.S. grew by 0.4% in 2022, with a 1.1% increase in 2023. This rise in construction activities is expected to propel the growth of the low VOC paint market.
What Is The Segmentation Of The Global Low VOC Paint Market?
The low VOC paint market covered in this report is segmented –
1) By Type: Traditional Spring Alkyd Paint, High Solid Alkyd Paint, Acrylic Latex Paint, Other Types
2) By Formulation Type: Waterborne, Solvent-Borne, Powder
3) By Application: Architecture And Decorative, General Industrial, Automotive Original Equipment Manufacturer, Automotive Refinish, Marine, Consumer Durables, Other Applications
Subsegments:
1) By Traditional Spring Alkyd Paint: Oil-Based Alkyd Paint, Water-Based Alkyd Paint
2) By High Solid Alkyd Paint: Solvent-Based High Solid Alkyd Paint, Water-Based High Solid Alkyd Paint
3) By Acrylic Latex Paint: Water-Based Acrylic Latex Paint, Low-Voc Acrylic Latex Paint
4) By Other Types: Epoxy Paint, Polyurethane Paint, Enamel Paint, Silicone-Based Paint
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What Trends Are Shaping The Low VOC Paint Market?
Prominent businesses in the low VOC paint industry are concentrating on the creation of novel products like ultra-low VOC air-purifying paint, in order to cater to the rising consumer preference for healthier and sustainable construction materials. The ultra-low VOC air-purifying paint is a sophisticated type of paint engineered to discharge extremely low quantities of volatile organic compounds (VOCs) and has an active role in air purification. For instance, in July 2023, Crown Paints Limited, a company based in the UK that offers paints and coatings, introduced Crown Trade Clean Air, an advanced ultra-low VOC air-purifying paint. This product can eliminate up to 45% of formaldehyde present in the air. Crown Trade Clean Air features Crown's unique breath-easy technology, ensuring the paint is 99% free of solvents and has the certification to be allergy and asthma-friendly.
Who Are the Key Players In The Low VOC Paint Market?
Major companies operating in the low VOC paint market are:
• BASF SE
• Mitsubishi Chemical Corporation
• Sherwin-Williams Company
• Asahi Kasei Corporation
• PPG Industries Inc.
• Sika AG
• AkzoNobel NV
• Nippon Paint Holdings Co Ltd.
• Ace Hardware Corporation
• Behr Process Corporation
• Masco Corporation
• Wacker Chemie AG
• Axalta Coating Systems Ltd.
• Valspar Corporation
• Asian Paints Ltd.
• Hempel A/S
• Jotun Group
• Benjamin Moore & Co.
• Kansai Nerolac Paints Ltd.
• Kelly-Moore Paint Company Inc.
• Cloverdale Paint Inc.
• Rodda Paint Company
• Dunn-Edwards Corporation
• Pratt And Lambert Paints
• Dairen Chemical Corporation
What Are The Regional Insights Into The Low VOC Paint Market?
Asia-Pacific was the largest region in the low VOC paint market in 2024. It is expected to be the fastest-growing region in the forecast period. The regions covered in the low VOC paint market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
