Low and Zero VOC Coatings
April 2017 www.coatingsworld.com Coatings World | 35
houses and residences. Exterior applications include protective
coatings for buildings. Growing urbanization and increasing
standards of living, coupled with rising disposable income, particularly in the emerging regions is driving growth in this industry. Regions such as Asia Pacific, Central & South America, and
Middle East & Africa are projected by Grand View Research to
be high growth markets for this product.
However, higher production cost is anticipated to negatively impact the market over the forecast period. Price sensitive regions such as Asia Pacific are expected to experience the
highest impact of such high production costs. Raw material
availability also plays an important role in shaping the industry. Raw material demand-supply imbalance is presumed to be
a critical factor and is expected to hinder global market over
the forecast period.
According to the report, R&D investments to develop superior quality product with lower production costs promise ample
opportunities for market participants. Initiatives to penetrate
the market and gain market share offer ample scope for bio-based paint manufacturers.
These products have several types with different VOC levels.
Zero VOC, low VOC, VOC absorbing, and natural paints are
a few major product types. Paints containing VOCs with less
than 5 gm per liter are considered Zero VOC. VOC absorbing
paints contain active ingredients that trap VOCs in the paints
indefinitely. Natural paints are manufactured from raw natural
products such as plant oils and yes, natural minerals, water and
essential oils.
Regions such as Asia Pacific, Latin America, Middle East and
Africa are projected to witness brisk growth over the forecast
period. Growing population and increasing disposable income
have resulted in rapid urbanization in the developing regions.
Such a shift in trend is expected to complement the regional
market over the forecast period. Countries such as China, India,
Brazil, and South Africa are projected to lead their respective
regional markets over the next seven years.
Developed regions are characterized by stringent regulations
and standards governing internal as well as external applica-
tions. Internal applications are exposed to a larger set of regula-
tions that are aimed at safeguarding the public interests. Such
regulatory framework is expected to shift demand from the con-
ventional products to these low VOC containing paints.
Grand View Research noted that Industry participants are
taking strong measures to enhance their product portfolio and
increase production capacity with an aim to cater to the growing global demand. These companies are also investing heavily
in R&D initiatives to develop superior products at lower production costs. Regulations mandating manufacturers to produce
non-toxic products that comply with the international standards
are presumed to go a long way in shaping the industry.
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