Low Volatile Organic Compounds Coating Additives Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 5.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Low Volatile Organic Compounds Coating Additives Market Analysis
The market for low volatile organic compounds coating additives is expected to grow at a CAGR of more than 5% globally during the forecast period. The volatile organic compounds refer to a class of chemicals that start vaporizing under normal indoor temperatures and pressure. Common VOCs include benzene, formaldehyde, toluene, flame-retardant alcohols, and other liquids. Due to increasing health concerns among consumers, the paints and coatings industry is moving towards low volatile organic compounds coating additives. The growing demand from the building and construction industry has been driving the market growth.
- However, the outbreak of coronavirus across the globe is likely to hinder the growth of the studied market.
- The growing awareness and regulatory initiatives towards sustainability & environment-friendly products are likely to provide opportunities for the studied market, during the forecast period.
- Asia-Pacific region dominated across the world with increasing consumption from China, Vietnam, and India.
Low Volatile Organic Compounds Coating Additives Market Trends
This section covers the major market trends shaping the Low Volatile Organic Compounds Coating Additives Market according to our research experts:
Building and Construction Industry to Dominate the Market
- Building and Construction industry stands to be the dominating segment owing to the continuous need for better and more advanced infrastructures.
- The building and construction segment includes low volatile organic compounds coating additives used in paints and coatings for commercial purposes, such as office buildings, warehouses, retail convenience stores, shopping malls, and residential buildings.
- The low volatile organic compounds coating additives are added to change their physical properties and employ properties such as stable color, high gloss, low environmental impact, and excellent surface appearance.
- The architectural coatings market is expected to register a CAGR of over 6%, during the forecast period. The increasing demand for decorative architectural coatings in houses, for greater aesthetics, is estimated to boost the demand for low volatile organic compounds coating additives in paints and coatings at a significant rate in the next few years.
- Volatile organic compounds evaporate, subsequently transfers harmful chemicals into the air that can be dangerous. Poor air quality can have a detrimental effect on the public's health, as well as the environment. Therefore, growing health concern and Stringent environmental regulations from agencies such as Environmental Protection Agency (EPA) and Registration, Evaluation, Authorization and Restriction of Chemicals (REACH) are expected to drive the market growth.
- Throughout the forecast timeframe, all the above conditions are anticipated to boost the demand for low volatile organic compounds coating additives.
Asia-Pacific Region to Dominate the Market
- Asia-Pacific has seen substantial growth in the demand for low volatile organic compounds coating additives in the recent past, especially from countries such as China, South Korea, and India owing to increasing infrastructural projects in the region.
- The Asia-Pacific paints and coatings market is estimated to witness significant growth, at an estimated CAGR of over 5%, over the forecast period. China is expected to witness the highest growth in construction activities, followed by India.
- In the Asia-Pacific region, the building and construction sector is experiencing good growth which is expected to provide a boost to the demand for paints and coating over the forecast period.
- For instance, China's 13th Five Year Plan started in 2016 as it was an important year for the country's engineering, procurement, and construction (EPC) industry. In addition to this, the country ventured into new business models domestically and internationally, during the year.
- Furthermore in India, the infrastructure sector has been one of the main areas of policy focus. The Government wants to improve the development of buildings in the country and has agreed to set up a single-window clearance system in order to provide swift approval of the construction projects.
- The growth in commercial and residential sectors is expected to boost the paints and coatings market in the country. Thus, driving the demand for low volatile organic compounds coating additives during the forecast period.
Low Volatile Organic Compounds Coating Additives Industry Overview
The global low volatile organic compounds coating additives market is partially consolidated in nature. Some of the major companies are Evonik AG, SEQENS, Eastman Chemical Company, BASF SE, and Solvay amongst others.
Low Volatile Organic Compounds Coating Additives Market Leaders
Evonik AG
SEQENS
Eastman Chemical Company
Solvay
BASF SE
*Disclaimer: Major Players sorted in no particular order
Low Volatile Organic Compounds Coating Additives Market Report - Table of Contents
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1. INTRODUCTION
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1.1 Study Assumptions
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1.2 Scope of the Study
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2. RESEARCH METHODOLOGY
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3. EXECUTIVE SUMMARY
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4. MARKET DYNAMICS
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4.1 Drivers
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4.1.1 Growing Demand from Building and Construction Industry
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4.1.2 Other Drivers
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4.2 Restraints
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4.2.1 Unfavorable Conditions Arising Due to COVID-19 Outbreak
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4.2.2 Other Restraints
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4.3 Industry Value Chain Analysis
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4.4 Porter's Five Forces Analysis
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4.4.1 Threat of New Entrants
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4.4.2 Bargaining Power of Buyers
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4.4.3 Bargaining Power of Suppliers
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4.4.4 Threat of Substitute Products
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4.4.5 Degree of Competition
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5. MARKET SEGMENTATION
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5.1 Product Type
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5.1.1 Defoamers
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5.1.2 Dispersants
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5.1.3 Wetting Agents
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5.1.4 Rheology Modifiers
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5.1.5 Others
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5.2 End-user Industry
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5.2.1 Building and Construction
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5.2.2 Automotive
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5.2.3 Aerospace
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5.2.4 Furniture
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5.2.5 Others
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5.3 Geography
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5.3.1 Asia-Pacific
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5.3.1.1 China
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5.3.1.2 India
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5.3.1.3 Japan
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5.3.1.4 South Korea
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5.3.1.5 Rest of Asia-Pacific
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5.3.2 North America
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5.3.2.1 United States
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5.3.2.2 Canada
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5.3.2.3 Mexico
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5.3.3 Europe
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5.3.3.1 Germany
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5.3.3.2 United Kingdom
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5.3.3.3 France
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5.3.3.4 Italy
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5.3.3.5 Rest of Europe
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5.3.4 South America
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5.3.4.1 Brazil
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5.3.4.2 Argentina
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5.3.4.3 Rest of South America
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5.3.5 Middle-East and Africa
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5.3.5.1 Saudi Arabia
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5.3.5.2 South Africa
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5.3.5.3 Rest of Middle-East and Africa
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6. COMPETITIVE LANDSCAPE
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6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
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6.2 Market Share/Ranking Analysis**
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6.3 Strategies Adopted by Leading Players
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6.4 Company Profiles
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6.4.1 Axalta Coating Systems, LLC
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6.4.2 BASF SE
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6.4.3 Borchers Inc.
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6.4.4 Chemoxy International Ltd
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6.4.5 Croda International Plc
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6.4.6 DAIKIN INDUSTRIES, Ltd.
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6.4.7 Dow
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6.4.8 Eastman Chemical Company
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6.4.9 Emerald Kalama Chemical
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6.4.10 Ethox Chemicals, LLC.
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6.4.11 Evonik AG
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6.4.12 Matthews Paint
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6.4.13 SEQENS
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6.4.14 Solvay
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6.4.15 Synthomer plc
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6.4.16 The Lubrizol Corporation
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- *List Not Exhaustive
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7. MARKET OPPORTUNITIES AND FUTURE TRENDS
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7.1 Growing Awareness and Regulatory Initiatives towards Environment Friendly Product
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7.2 Other Oppurtunities
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Low Volatile Organic Compounds Coating Additives Industry Segmentation
The low volatile organic compounds coating additives market report include:
| Product Type | |
| Defoamers | |
| Dispersants | |
| Wetting Agents | |
| Rheology Modifiers | |
| Others |
| End-user Industry | |
| Building and Construction | |
| Automotive | |
| Aerospace | |
| Furniture | |
| Others |
| Geography | |||||||
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Low Volatile Organic Compounds Coating Additives Market Research FAQs
What is the current Low Volatile Organic Compounds Coating Additives Market size?
The Low Volatile Organic Compounds Coating Additives Market is projected to register a CAGR of greater than 5% during the forecast period (2024-2029)
Who are the key players in Low Volatile Organic Compounds Coating Additives Market?
Evonik AG, SEQENS, Eastman Chemical Company, Solvay and BASF SE are the major companies operating in the Low Volatile Organic Compounds Coating Additives Market.
Which is the fastest growing region in Low Volatile Organic Compounds Coating Additives Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Low Volatile Organic Compounds Coating Additives Market?
In 2024, the Asia Pacific accounts for the largest market share in Low Volatile Organic Compounds Coating Additives Market.
What years does this Low Volatile Organic Compounds Coating Additives Market cover?
The report covers the Low Volatile Organic Compounds Coating Additives Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Low Volatile Organic Compounds Coating Additives Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Low Volatile Organic Compounds Coating Additives Industry Report
Statistics for the 2024 Low Volatile Organic Compounds Coating Additives market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Low Volatile Organic Compounds Coating Additives analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
