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The low VOC paint market share is expected to increase by USD 2.82 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 6.2%.
This market research report extensively covers low VOC paint market segmentations by the following:
This low VOC paint market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. The low VOC paint market report offers information on several market vendors, including 3M Co., Aexcel Corp., Akzo Nobel NV, American Formulating and Manufacturing, Arkema Group, Asian Paints Ltd., Axalta Coating Systems Ltd., BASF SE, Berger Paints India Ltd., Berkshire Hathaway Inc., Cloverdale Paint Inc., Fine Paints of Europe, Indestructible Paint Ltd., Jotun AS, Kansai Paint Co. Ltd., NEI Corp., Nippon Paint India Pvt. Ltd., PPG Industries Inc., Teijin Ltd., and The Sherwin-Williams Co. among others.
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The increased regulations on high emissions of VOC is notably driving the low VOC paint market growth, although factors such as volatility in raw material prices may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the low VOC paint industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Low VOC Paint Market Driver
Key Low VOC Paint Market Trend
Key Low VOC Paint Market Challenge
This low VOC paint market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global low volatile organic compound (VOC) paint market as a part of the global chemicals market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the low VOC paint market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the low VOC paint market encompasses successful business strategies deployed by the key vendors. The low VOC paint market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The low VOC paint market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the low VOC paint market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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48% of the market's growth will originate from APAC during the forecast period. China and Australia are the key markets for the low VOC paint market in APAC. Market growth in this region will be faster than the growth of the market in other regions.
The growth of the automobile sector, along with the growing economy and emerging middle class, will facilitate the low VOC paint market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
The outbreak of COVID-19 had a negative impact on the regional market during the forecast period. However, with the ongoing COVID-19 vaccination drives, the number of COVID-19 cases is expected to decline during the forecast period. This factor is driving the low VOC paint market growth.
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The low VOC paint market share growth by the water-borne segment will be significant during the forecast period. Water-borne low VOC paints provide superior resistance to moisture and humidity and produce no or less odor during soldering. These paints do not emit heat during the curing process and are thus used to protect heat-sensitive automotive components. Moreover, the numerous benefits, such as environmentally friendly and cost-effectiveness, offered by water-borne low VOC paints drive the growth of the low VOC paint market. Thus, the demand for water-borne low VOC paints is expected to increase during the forecast period.
This report provides an accurate prediction of the contribution of all the segments to the growth of the low VOC paint market size and actionable market insights on post COVID-19 impact on each segment.
Low VOC Paint Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.2% |
Market growth 2022-2026 |
$ 2.82 billion |
Market structure |
Fragmented |
YoY growth (%) |
5.2 |
Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
Performing market contribution |
APAC at 48% |
Key consumer countries |
US, China, Australia, Germany, and UK |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
3M Co., Aexcel Corp., Akzo Nobel NV, American Formulating and Manufacturing, Arkema Group, Asian Paints Ltd., Axalta Coating Systems Ltd., BASF SE, Berger Paints India Ltd., Berkshire Hathaway Inc., Cloverdale Paint Inc., Fine Paints of Europe, Indestructible Paint Ltd., Jotun AS, Kansai Paint Co. Ltd., NEI Corp., Nippon Paint India Pvt. Ltd., PPG Industries Inc., Teijin Ltd., and The Sherwin-Williams Co. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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