VOCs (volatile organic compounds) are substances such as formaldehyde which are used in paints to allow them to dry faster. These are highly toxic to humans and high levels of VOC in paints results in the release of toxic VOC fumes for a long period of time. Low VOC paints use water as a solvent instead of petroleum-based materials. Bio-based paints use raw materials derived from natural sources such as plants and natural minerals which include plant oils, plant dyes, essential oils, clay, beeswax, mineral dyes, and talcum among others. Bio-based and low-VOC paints embed low VOC levels in paints made from natural sources of plants and animals.
Increased awareness among consumers about the health benefits of using bio-based and low-VOC products is one of the primary drivers of this market. Another factor affecting the paints industry is the steady growth of population in countries such as China and India which has in turn led to an increase in the house construction sector and industrialization. The growing infrastructure and increasing awareness has led to a growth of the bio-based and low-VOC paints industry in this region. Increasing disposable income of consumers also plays a key role in the paints market.
Bio-based low-VOC paints have a higher manufacturing cost compared to traditional high-VOC paints. This is one of the main factors affecting the bio-based paints market. In addition, the paints industry is heavily dependent on the maintenance requirements of facilities which include expansion of industrial facilities and household expansions. Economic slowdowns directly affect the maintenance industry, which has an adverse effect on the paints industry.
There is an increasing demand for cost-effective, bio-based, low-VOC paints from consumers and end-use industries. Focused research on cost-effective raw materials may boost the market. In addition, efforts taken by environmental governing bodies in regularizing policies on the use of low-VOC paints will help the bio-based paint market. Efforts in creating awareness among other developing countries of Asia-Pacific and Africa can further help to develop the paints market in these regions.
Some of the leading manufacturers of bio-based and low-VOC paints include Pflanzenchemie AG, DuraSoy One Paint, Benjamin Moore & Co., The Freshaire Choice, and Mythic Paint among others.
This research report analyzes this market depending on its market segments, major geographies, and current market trends. Geographies analyzed under this research report include
- North America
- Asia Pacific
- Rest of the World
This report provides comprehensive analysis of
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for upcoming years
This report is a complete study of current trends in the market, industry growth drivers, and restraints. It provides market projections for the coming years. It includes analysis of recent developments in technology, Porter’s five force model analysis and detailed profiles of top industry players. The report also includes a review of micro and macro factors essential for the existing market players and new entrants along with detailed value chain analysis.
Reasons for Buying this Report
- This report provides pin-point analysis for changing competitive dynamics
- It provides a forward looking perspective on different factors driving or restraining market growth
- It provides a technological growth map over time to understand the industry growth rate
- It provides a seven-year forecast assessed on the basis of how the market is predicted to grow
- It helps in understanding the key product segments and their future
- It provides pin point analysis of changing competition dynamics and keeps you ahead of competitors
- It helps in making informed business decisions by having complete insights of market and by making in-depth analysis of market segments
- It provides distinctive graphics and exemplified SWOT analysis of major market segments
Note : All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of Transparency Market Research.