GVR Report cover Low-Volatile Organic Compounds Coating Additives Market Size, Share & Trends Report

Low-Volatile Organic Compounds Coating Additives Market Size, Share & Trends Analysis Report By Application, Regional Outlook, And Segment Forecasts, 2019 To 2025

  • Published Date: ---
  • Base Year for Estimate: ---
  • Report ID: GVR2195
  • Format: Electronic (PDF)
  • Historical Data: ---
  • Number of Pages: 0

The global increase in architectural, automotive and industrial coatings demand is expected to drive low-volatile organic compounds coating additives market growth over the next seven years. Rising investment in infrastructure projects owing to need for better quality surfaces in compliance with environmental norms is projected to propel low-VOC coating additives market growth. Growing automotive production particularly in Asia Pacific is expected to complement industry growth. These are required for original equipment manufacturing (OEM) and refinishing. Stringent environmental regulations from agencies such as Environmental Protection Agency (EPA) and Registration, Evaluation, Authorization and Restriction of Chemicals (REACH) have forced the manufacturers to reduce volatile organic content in their products. Tightening norms have eventually resulted in a shift towards water borne or powder coatings with low- volatile organic compounds (VOC) content and is slated to positively influence the industry over the forecast period. Increase in demand from end-use industries such as consumer goods, wood & furniture, packaging and textiles are expected to boost the low carbon emission additives market growth over the forecast period. Huge investments and R&D is being done by manufacturing companies and associations for upcoming advancements and modification in low-VOC coating to replace other traditional coating types such as solvent based coating. This is projected to drive industry growth over the forecast period.

Coating additives are added to paints and coatings in order to improve its quality and performance. It helps the surfaces to deal with higher temperature, moisture, biocides, abrasion and chemical resistance. Specialized raw materials cost for specific green coating is projected to hinder market growth and pose challenges to industry participants over the forecast period. Technological advancements coupled with new product launch offering similar performance as compared to conventional VOC containing coatings is expected to create lucrative opportunities for industry participants over the forecast period. Regulatory and market push towards sustainability & environmental friendly products is expected to yield opportunities to industry participants over the forecast period.

Asia Pacific dominated the low-volatile organic compounds coating additives market over the past few years owing to increasing infrastructural projects in the region. Residential and commercial building is expected to be the largest segment requiring such coating additives. Major manufacturers are expanding their production facilities in emerging countries such as China and India owing to cheap labor & raw material availability. China is one of the largest exporters of reduced VOC coating additives owing to cheap raw material availability. Due to presence of major additive manufacturers, China has promoted R&D resulting innovative product launches such as multifunctional and green additive. The country offers products at competitive prices. Increasing demand for vehicles coupled with growing concerns regarding environment and sustainability is slated to positively impact Low-VOC Coating Additives market growth in the region. Other than China, India and Japan, Thailand, Malaysia, Vietnam and Indonesia are few economies witnessing high market demand in Asia Pacific. North America is the hub for major low-VOC coating additive manufacturers which are mostly headquartered in U.S. Increasing demand for marine and aviation sector is expected to drive market growth in North America owing to the region being technically sound and fastest growing. Several initiatives undertaken by the government have resulted in a shift towards low-VOC additive coatings manufacturing in North America. These include California Air Resources Board (CARB), South Coast Air Quality Management District (SCAQMD) and Ozone Transport Commission (OTC).While CARB is responsible for regulating mobile air pollution sources, SCAQMD is responsible for managing stationary air pollution sources. Europe is projected to witness considerable growth owing to stringent regulations regarding chemical usage in the region. Canada provides guidelines for regulations in architectural and industrial maintenance coatings. EU Directive 2004/42/CE limit emissions for paints varnishes and refinishing products.

Key players operating in Low-VOC Coating Additives market include Akzonobel N.V.,Santolubes, Keyland Polymer Ltd.,Axalta Coating Systems, BASF, DVUC, LLC, Applied Plastics Co., Inc., Berger Paints India Limited. Other prominent industry participants include Innovative Coatings, Inc., Modern Materials, Inc., Kansai Paint Company Limited, Van Westrum Corp., Plas-Tech Coatings, Nippon Paint Company Limited, PPG Industries, Inc., RPM International, Inc.,Springco Metal Coatings, Powder Craft, Inc., The Sherwin Williams Company, The Valspar Corporation, P & M Industrial Finishing Company, TikkurilaOyj and Advanced Surface Finishing, Inc.

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