Bio-based and Low-VOC Paints Market - Global Industry Analysis and Research By 2024
The report is an enquiry in the growth of the global bio-based and low-VOC paints market over the last few years and in the upcoming years. The market research study further reasons out the causes of the alterations in the market worldwide. It performs this task by presenting a valuation of the dynamics and the trends ubiquitous from the last few years and the ones that are likely to keep hold of a strong presence during the forecast period.
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The Porter’s five forces analysis has been taken into consideration by the analysts to offer a clear view of the vendor landscape to the readers. Mergers, agreements, acquisitions, and other partnerships have also been highlighted in the market research report. The study also delves into the working of several major companies along with information on their products, strategies, and shares in question.
Global Bio-based and Low-VOC Paints Market: Trends and Prospects
The global market for bio-based and low-VOC is anticipated to exhibit brisk growth over the coming due to increasing environmental concerns among consumers. Preferences of customers have increasingly shifted towards paints with low amount of VOC content owing to aspects such as easy maintenance, low negative effect on the environment, and low toxic levels. The rising awareness regarding the benefits of bio-based paints is expected to magnify the use of it over the forecast period.
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Another factor that is expected to be highly influential for the market’s growth is the burgeoning population in countries such as India and China which has intensified the construction of new households to accommodate the rising population. This, in turn, has supplemented the sales of bio-based and low-VOC paints. Growing disposable income of consumers is also expected to play a key role in the progress of the global market.
However, the growth of the global bio-based and low-VOC paints is likely to be restrained by the high cost of manufacturing of these paints in comparison to the conventional VOC paints. Additionally, the dependence of the paints industry on maintenance facilities such as household expansions and industrial units is shadow in the growing light of the market. The direct impact of economic downturn on the maintenance industry is likely to have an adverse impact on the paint industry as well, thus slowing it down.
Global Bio-based and Low-VOC Paints Market: Regional Overview
The growing awareness regarding the use of these paints in Africa and Asia Pacific is anticipated to put these regions at the forefront of the global bio-based and low-VOC paints market. Favourable government regulations are another factor supporting the market’s growth in these regions.
Global Bio-based and Low-VOC Paints Market: Companies Mentioned in the Report
The key companies operating in the market are Mythic Paint, The Freshaire Choice,Benjamin Moore & Co., DuraSoy One Paint, and Pflanzenchemie AG, among others.
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insights for decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, TMR employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.
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