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.
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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
- Europe
- 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.
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