WASHINGTON, Feb. 10, 2022 (GLOBE NEWSWIRE) -- The Global Low-VOC Coating Additive market size is expected to reach USD 8.46 Billion by 2028, exhibiting a Compound Annual Growth Rate (CAGR) of 5.78% during the forecast period. The Low-VOC Coating Additive has several properties like stable colour, excellent performance such as high gloss with good surface appearance and low environmental footprint are some key influencing factors driving the market growth. Additionally, the increasing importance of additives in coatings formulation is another reason boosting low-VOC coating additive market, states Vantage Market Research, in a report, titled “Low-VOC Coating Additive Market by type (Rheology modifiers, Dispersants, Defoamer, Wetting agent), by technology: (Water Borne, Powder-based, High Solids, Radiation Cure), by application (Architectural Coatings, Automotive Coatings, Industrial Coatings, Wood Coatings), by Region (North America, Europe, Asia Pacific, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)”. The market size valued at USD 5.7 Billion in 2021.
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List of Prominent Players in the Low-VOC Coating Additive Market:
- ABB Ltd.
- Eaton Corporation
- Siemens AG
- Schneider Electric SA
- Salzer Electronics Ltd
- Katko
- Ensto
- Lovato Electric
- Benedict GMBH
- Kraus & Naimer
Market Dynamics:
Increasing Coatings Applications in Automotive and Packaging To Boost the Market Growth
Increase in demand of the low VOC coating additives from architectural coatings application coupled with the growth in automotive & packaging coatings applications are factors driving the market growth. In addition, various environmental rules and regulations, have forced to reduce VOC content in the products and this caused a shift towards the usage of water-borne or powder coatings. The requirement for construction is higher in countries like China and India is anticipated to drive the low VOC coating additive market growth.
Technological Advancements and new product launches to drive the Market Growth
Several technological advancements and new product launch are offering similar performance in compression to the conventional VOC containing coatings is factor anticipated to have potential growth in coming years. The market force towards the sustainability as well as environmentally friendly products has led to technological growth. The players in the industry are focusing on the adoption of new and innovative low-pollution coating technologies like radiation-cured coatings.
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COVID-19 Impact Analysis:
The COVID-19 outbreak has affected various industries worldwide. Governments across the world implemented strict lockdown measures and social distancing norms in order to restrict the swift spread of the pandemic. Manufacturing facilities around the world were shut down during the initial stages of the pandemic. Moreover, the economic crisis after the pandemic might lead to a significant delay in the commercial roll-out of the coatings industry. Small and medium-scale companies are the backbone of technology providers and are witnessing a steep drop in revenue since the emergence of the pandemic in 2020. Hence, market players faced numerous challenges as disruptions in the supply chain were observed. However, things will improve in the second half of 2022 as more supplies will come online. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends of the market for all the regions and countries based on the following data points:
- Impact Assessment of COVID-19 Pandemic
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- Quarterly Market Revenue Forecast by Asia Pacific 2020 & 2021
- Key Strategies Undertaken by Companies to Tackle COVID-19
- Long Term Dynamics
- Short Term Dynamics
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The report on Low-VOC Coating Additive Market highlights:
- Assessment of the market
- Premium Insights
- Competitive Landscape
- COVID Impact Analysis
- Historic Data, Estimates and Forecast
- Company Profiles
- Global and Regional Dynamics
Regional Analysis:
Asia Pacific Dominates the Global Low-VOC Coating Additive Market
Asia Pacific is holding a dominant position in regional segment during the forecast period. The growth in the region is due to rising infrastructural projects such as residential & commercial building. The manufacturers are focusing on expansion of production facilities in countries like China and India because of cheap labour as well as raw material availability. With this, considering the fact that China is one of the largest exporters of reduced VOC coating additives and has promoted research & development resulting as innovative product launches like green additive are factors fuelling the regional growth. Additionally, demand for vehicles and concerns regarding sustainability are factors defining market growth.
Browse market data Tables and Figures spread through 178 Pages and in-depth TOC on "Low-VOC Coating Additive Market by type (Rheology modifiers, Dispersants, Defoamer, Wetting agent), by technology: (Water Borne, Powder-based, High Solids, Radiation Cure), by application (Architectural Coatings, Automotive Coatings, Industrial Coatings, Wood Coatings), by Region (North America, Europe, Asia Pacific, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)" View detailed Research Report here – https://www.vantagemarketresearch.com/press-release/low-voc-coating-additive-market-609923
Key questions answered in the report:
- Which regional market will show the highest and rapid growth?
- Which are the top five players of the Low-VOC Coating Additive Market?
- How will the Low-VOC Coating Additive Market change in the upcoming six years?
- Which application and product will take a lion’s share of the Low-VOC Coating Additive Market?
- What is the Low-VOC Coating Additive market drivers and restrictions?
- What will be the CAGR and size of the Low-VOC Coating Additive Market throughout the forecast period?
Recent Developments:
May, 2021: Clariant’s complete range of Hostatint AU aqueous pigment dispersions expands the color choice for exterior and interior architectural coatings.Created to meet industry color standards for point-of-sale and in-plant tinting systems, new low-VOC, APEO-free Hostatint AU vibrant colorants offer paint and coatings manufacturers of all sizes an economical way to broaden the color space and can be easily calibrated to any tint base or color portfolio.
May, 2021: Evonik has added TEGO Humectant 7005 to its portfolio of additives. Available worldwide, TEGO Humectant 7005 is effective for binder-free pigment pastes that has a particularly low VOC content and at the same time shows a low influence on paste properties such as color strength and viscosity.
This market titled “Low-VOC Coating Additive Market” will cover exclusive information in terms of Regional Analysis, Forecast, and Quantitative Data – Units, Key Market Trends, and various others as mentioned below:
| Report Attribute | Details |
| Market Size in 2021 | USD 5.7 Billion |
| Projected Market Size in 2028 | USD 8.46 Billion |
| CAGR Growth Rate | CAGR of 5.78% From 2022 - 2028 |
| Base Year | 2021 |
| Historic Years | 2016 - 2020 |
| Forecast Years | 2022 - 2028 |
| Segments Covered | Application: - Industrial, Commercial Type: - Fused, Non-Fused Mount: - Panel, DIN Rail, Others (Base Mounted and Floor Mounted) Voltage: - 0-240V, 240-480V, 480-690V |
| Quantitative Data - Units | Revenue in USD Million/Billion and CAGR from 2022 to 2028 |
| Regions Covered | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
| Countries Covered | U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others |
| Report Coverage | Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis. |
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