Low VOC Coating Additives Market - Demand, Size, Share, Growth, Trends, and Forecast 2024
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Rising environmental regulations in developed as well as developing countries is expected to drive the low VOC coating additives market. Regional environmental agencies are forcing the manufacturers to reduce the VOC content in their products. Increasing demand for low VOC coating additives from end-user industries is further fueling the market. Major end user industries include building & construction, automotive and packaging. This demand is primarily attributable to Asia Pacific. However, rising raw material prices and their volatility is expected to hamper the low VOC coatings additives market growth. Furthermore, raw materials industry of low VOC coatings additives is on the verge of consolidation that enhances the bargaining power of suppliers and negatively affects the market growth. End-use industries of low VOC coatings additives grow in line with the economic development across globe and hence, geopolitical issues in affects the growth in particular regions and have effect on the global market. Increasing demand for water-based low VOC coatings additives is anticipated to provide immense opportunities for the players in the market.
Asia Pacific emerged as the largest market for low VOC coating additives in terms of production and consumption. China accounted for significant share in the demand and production of low VOC coating additives in the region. High economic growth in the emerging economies of Asia Pacific such as China and India are expected to boost the market growth in the next few years. Furthermore, rising end-user industries such as automotive, packaging, industrial and construction are driving the low VOC coating additives market in the region. Rest of the World that includes Latin America, Africa and Middle East is expected to grow at a significant growth during forecast period due to upcoming global and sports events in the region. North America’s low VOC coatings additive demand is expected to grow at a moderate rate during the forecast period. Europe, which has very stringent environmental regulatory scenario is expected to grow at a moderate rate in the next few years.
Global low-VOC coating additives market is moderately consolidated with key players having presence across the value chain. Players in the market concentrate on expansion of product facilities and new product launches in order to increase their market share. Moderate level of mergers and acquisitions is the characteristic of this market. Key players in low-VOC coating additives market include Eastman Chemical Company, Solvay SA, BASF SE, The Dow Chemical Company, Huntsman Corporation, OM Group, Inc., E. I. du Pont de Nemours and Company, Elementic Plc, Air Products and Chemicals, Inc. and Allnex. Few of the companies want to create themselves as a sustainable brand. For instance, Solvay SA offers sustainable solutions and products to reduce health and environmental impact.
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The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on:
Market segments and sub-segments
Market trends and dynamics
Supply and demand
Value chain and stakeholder analysis
The regional analysis covers:
North America (U.S. and Canada)
Latin America (Mexico, Brazil, Peru, Chile, and others)
Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
Eastern Europe (Poland and Russia)
Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
Middle East and Africa (GCC, Southern Africa, and North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
A complete backdrop analysis, which includes an assessment of the parent market
Important changes in market dynamics
Market segmentation up to the second or third level
Historical, current, and projected size of the market from the standpoint of both value and volume
Reporting and evaluation of recent industry developments
Market shares and strategies of key players
Emerging niche segments and regional markets
An objective assessment of the trajectory of the market
Recommendations to companies for strengthening their foothold in the market
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