Low VOC Paint Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023 - 2028)

The market is segmented by Type (Low-VOC, No or Zero VOC, and Natural), Formulation Type (Water-borne, Solvent-borne, and Powder), Application (Architecture and Decorative, General Industrial, Automotive OEM, Automotive Refinish, Marine, Consumer Durables, and Other Applications), and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa)

Low VOC Paint Market Size

Low VOC Paint Market Size
Study Period: 2018 - 2028
Fastest Growing Market: Asia Pacific
Largest Market: Asia Pacific
CAGR: > 6.5 %

Major Players

Low VOC Paint Market Companies

*Disclaimer: Major Players sorted in no particular order


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Low VOC Paint Market Analysis

The low VOC paint market is expected to register a CAGR of over 6.5%, during the forecast period. The major factors driving the growth of the market studied are the growing awareness about harmful effects from conventional paints, and the safe disposal of waste products and excess paint. On the flipside, the high cost compared to conventional paint is hampering the growth of the market studied.

  • The water-borne segment dominated the market. It is likely to grow during the forecast period, with growing awareness and demand for low VOC paints.
  • The increasing construction of green buildings (leed ratings) shift toward eco-friendly chemicals, and recycling of low VOC paints are likely to provide opportunities for the market studied, during the forecast period.
  • Asia-Pacific dominated the global market, owing to the surging demand majorly from the architectural industry.

Low VOC Paint Industry Segmentation

The scope of the low VOC paint market report includes:

No or Zero VOC
Formulation Type
Architecture and Decorative
General Industrial
Automotive OEM
Automotive Refinish
Consumer Durables
Other Applications
South Korea
Rest of Asia-Pacific
North America
United States
United Kingdom
Rest of Europe
South America
Rest of South America
Middle-East and Africa
Saudi Arabia
South Africa
Rest of Middle-East and Africa

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Low VOC Paint Market Trends

This section covers the major market trends shaping the Low VOC Paint Market according to our research experts:

Architectural and Decorative Segment to Dominate the Market Demand

  • Decorative paints help protect the surface from the impact of weather, make the surface waterproof, protect the surface from termite attacks, and increase the surface durability, in addition to providing an aesthetic appeal to the building.
  • In addition, they offer protection from corrosion, bacteria, UV radiation, fungus, water seepage, and algae, as well as enhance the life of the structure.
  • The demand for low VOC paints is dominated by the architectural and decorative industry, which is driven by the growing residential, as well as commercial construction activities across the world. 
  • Asia-Pacific and the Middle East & African regions have been witnessing strong growth in residential construction, due to huge domestic, as well as foreign investments for setting up industrial units, hospitals, malls, multiplexes, hotels and resorts, and the IT sector.
  • Such construction activities are expected to increase the demand for low VOC paints, during the forecast period.
Low VOC Paint Market Growth

Asia-Pacific Region to Dominate the Market

  • Asia-Pacific region dominated the global market share. With growing investment in residential and commercial construction in the countries, such as India, China, the Philippines, Vietnam, and Indonesia, the market for low VOC paints is expected to increase in the coming years.
  • Currently, there are numerous airport construction projects, either in the development or planning stage, in China. These include Beijing Capital International Airport, Chengdu Shuangliu International Airport, Guangzhou Baiyun International Airport, etc. Besides, the government rolled out massive construction plans, including making provision for the movement of 250 million people to its new megacities over the next 10 years.
  • In India, the government’s target to invest USD 120.5 billion, for developing 27 industrial clusters, is expected to boost commercial construction.
  • In Indonesia, the government planned to invest about USD 450 billion in the construction sector, by 2021, which is expected to boost residential construction in the country.
  • Furthermore, countries, such as India, Indonesia, Malaysia, and Thailand, have been witnessing an increase in investment and production in the automotive industry, which may increase the consumption of low VOC paint in these countries.
  • Thus, the aforementioned factors are expected to drive the demand for low VOC paints in the region, during the forecast period.
Low VOC Paint Market Analysis

Low VOC Paint Industry Overview

The low VOC paint market is partially fragmented in nature, where numerous players hold insignificant share of the market demand, to individually affect the market dynamics. Some of the noticeable players in the market include AkzoNobel NV, Asian Paints Ltd, BASF SE, Axalta Coating Systems LLC, and the Sherwin-Williams Company, among others.

Low VOC Paint Market Leaders

  1. AkzoNobel NV

  2. Asian Paints Ltd

  3. BASF SE

  4. Axalta Coating Systems LLC

  5. The Sherwin-Williams Company

*Disclaimer: Major Players sorted in no particular order

AkzoNobel NV, Asian Paints Ltd, BASF SE, Axalta Coating Systems LLC, the Sherwin-Williams Company

Low VOC Paint Market Report - Table of Contents


    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study




    1. 4.1 Drivers

      1. 4.1.1 Increasing Awareness about Harmful Effects of Conventional Paint

      2. 4.1.2 Safe Disposal of Waste Products and Excess Paint

    2. 4.2 Restraints

      1. 4.2.1 High Cost in Comparison to Conventional Paint

    3. 4.3 Industry Value Chain Analysis

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Consumers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

    5. 4.5 Regulatory Policy Analysis


    1. 5.1 Type

      1. 5.1.1 Low-VOC

      2. 5.1.2 No or Zero VOC

      3. 5.1.3 Natural

    2. 5.2 Formulation Type

      1. 5.2.1 Water-borne

      2. 5.2.2 Solvent-borne

      3. 5.2.3 Powder

    3. 5.3 Application

      1. 5.3.1 Architecture and Decorative

      2. 5.3.2 General Industrial

      3. 5.3.3 Automotive OEM

      4. 5.3.4 Automotive Refinish

      5. 5.3.5 Marine

      6. 5.3.6 Consumer Durables

      7. 5.3.7 Other Applications

    4. 5.4 Geography

      1. 5.4.1 Asia-Pacific

        1. China

        2. India

        3. Japan

        4. South Korea

        5. Rest of Asia-Pacific

      2. 5.4.2 North America

        1. United States

        2. Canada

        3. Mexico

      3. 5.4.3 Europe

        1. Germany

        2. United Kingdom

        3. France

        4. Italy

        5. Rest of Europe

      4. 5.4.4 South America

        1. Brazil

        2. Argentina

        3. Rest of South America

      5. 5.4.5 Middle-East and Africa

        1. Saudi Arabia

        2. South Africa

        3. Rest of Middle-East and Africa


    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share Analysis**

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 Akzo Nobel N.V.

      2. 6.4.2 American Formulating & Manufacturing

      3. 6.4.3 Asian Paints Ltd

      4. 6.4.4 Auro Pflanzenchemie AG

      5. 6.4.5 Axalta Coating Systems LLC

      6. 6.4.6 BASF SE

      7. 6.4.7 Benjamin Moore & Co.

      8. 6.4.8 Berger Paints India Limited

      9. 6.4.9 Bioshield Paint - Eco Design Co.

      10. 6.4.10 Cloverdale Paint Inc.

      11. 6.4.11 Eco Safety Products

      12. 6.4.12 Fine Paints of Europe

      13. 6.4.13 Jotun

      14. 6.4.14 Kalekim Chemicals Co. Inc.

      15. 6.4.15 Kansai Paint Co. Ltd

      16. 6.4.16 Nippon Paint Co. Ltd

      17. 6.4.17 PPG Industries Inc.

      18. 6.4.18 The Sherwin-Williams Company

    5. *List Not Exhaustive

    1. 7.1 Increasing Construction of Green Buildings

    2. 7.2 Shift toward Eco-friendly Chemicals

    3. 7.3 Recycling of Low VOC Paints

**Subject to Availability
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Low VOC Paint Market Research FAQs

The Low VOC Paint Market is studied from 2018 - 2028.

The Low VOC Paint Market is growing at a CAGR of >6.5% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2018 - 2028.

Asia Pacific holds highest share in 2021.

AkzoNobel NV, Asian Paints Ltd, BASF SE, Axalta Coating Systems LLC, The Sherwin-Williams Company are the major companies operating in Low VOC Paint Market.

Low VOC Paint Industry Report

Statistics for the 2023 Low VOC Paint market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Low VOC Paint analysis includes a market forecast outlook to 2028 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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