Market Size of Low Volatile Organic Compounds Coating Additives Industry
| 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 |
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 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 |
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Low Volatile Organic Compounds Coating Additives Market Size Summary
The low volatile organic compounds (VOC) coating additives market is poised for significant growth, driven by increasing consumer health concerns and a shift towards environmentally friendly products in the paints and coatings industry. This market is experiencing robust demand from the building and construction sector, which is the dominant segment due to the ongoing need for advanced infrastructure. The additives are crucial in enhancing the physical properties of paints and coatings, offering benefits such as stable color, high gloss, and low environmental impact. The architectural coatings market is also expected to see substantial growth, fueled by the rising demand for decorative coatings in residential buildings. However, the market's expansion may face challenges due to the global impact of the coronavirus pandemic.
The Asia-Pacific region is a key player in the low VOC coating additives market, with countries like China, India, and Vietnam leading the charge due to their burgeoning infrastructure projects. The region's paints and coatings market is anticipated to grow significantly, supported by the construction boom in China and policy initiatives in India aimed at enhancing infrastructure development. The demand for these additives is further bolstered by stringent environmental regulations and growing awareness of sustainability. The market is partially consolidated, with major companies such as Evonik AG, SEQENS, Eastman Chemical Company, BASF SE, and Solvay playing pivotal roles in shaping its trajectory.
Low Volatile Organic Compounds Coating Additives Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Drivers
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1.1.1 Growing Demand from Building and Construction Industry
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1.1.2 Other Drivers
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1.2 Restraints
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1.2.1 Unfavorable Conditions Arising Due to COVID-19 Outbreak
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1.2.2 Other Restraints
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1.3 Industry Value Chain Analysis
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1.4 Porter's Five Forces Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Degree of Competition
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2. MARKET SEGMENTATION
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2.1 Product Type
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2.1.1 Defoamers
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2.1.2 Dispersants
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2.1.3 Wetting Agents
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2.1.4 Rheology Modifiers
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2.1.5 Others
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2.2 End-user Industry
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2.2.1 Building and Construction
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2.2.2 Automotive
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2.2.3 Aerospace
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2.2.4 Furniture
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2.2.5 Others
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2.3 Geography
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2.3.1 Asia-Pacific
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2.3.1.1 China
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2.3.1.2 India
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2.3.1.3 Japan
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2.3.1.4 South Korea
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2.3.1.5 Rest of Asia-Pacific
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2.3.2 North America
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2.3.2.1 United States
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2.3.2.2 Canada
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2.3.2.3 Mexico
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2.3.3 Europe
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2.3.3.1 Germany
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2.3.3.2 United Kingdom
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2.3.3.3 France
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2.3.3.4 Italy
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2.3.3.5 Rest of Europe
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2.3.4 South America
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2.3.4.1 Brazil
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2.3.4.2 Argentina
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2.3.4.3 Rest of South America
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2.3.5 Middle-East and Africa
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2.3.5.1 Saudi Arabia
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2.3.5.2 South Africa
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2.3.5.3 Rest of Middle-East and Africa
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Low Volatile Organic Compounds Coating Additives Market Size 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.
