Zero-VOC Coalescent for Coatings Market - Forecast(2024 - 2030)

Report Code: CMR 1494 Report Format: PDF + Excel

Zero-VOC Coalescent for Coatings Market Overview

The Zero-VOC Coalescent for Coatings market size is forecasted to reach US$468.5 million by 2027, after growing at a CAGR of 8.2% during the forecast period 2022-2027. The zero-VOC coalescent is a non-yellowing, zero viscosity, a non-hazardous alternative to volatile ester alcohols and glycol ethers that improves moisture resistance. It has superior properties such as superior adhesive and sealants property, very hydrophobic and more. These characteristics make it suitable for the coatings industry. The expansion of the zero-VOC coalescent is being driven primarily by the expansion of the building and construction industry. However, in 2020, the surge in the Covid-19 pandemic negatively impacted the construction and industrial production activities. As a result, zero-VOC coalescent for coatings manufacturers experienced losses, affecting the growth of the zero-VOC coalescent for the coatings industry. In 2021, the increase in new construction activities fueled the demand for coatings, which benefited market growth. Furthermore, the thriving transportation industry is expected to drive up demand for coatings. As a result, demand for zero-VOC coalescent will increase, fueling the growth of the zero-VOC coalescent for coatings market size in the coming years.

Report Coverage 

The report: "Zero-VOC Coalescent for Coatings Market Report – Forecast (2022-2027)” by IndustryARC, covers an in-depth analysis of the following segments in the Zero-VOC coalescent for coatings Industry. 

By Formulation: Water Based, Solvent Based, Powder Based and Others.
By Resin: Acrylic, Polyvinyl alcohol (PVA), Vinyl Acetate/Ethylene (VAE), Styrene-Butadiene Rubber (SBR), Polyurethane Dispersions (PUD), Epoxy and Others.
By Coating Type: Architectural, Industrial and Special Purpose.
By End-Use Industry: Building and Construction (Residential (Independent Houses, Apartments and Others), Commercial (Office Buildings, Healthcare Facilities, Retail Stores, Banks, Hotels and Restaurants, Concert Halls and Museums, Sports Arena, Educational Institutes and Others), Industrial (Warehouse, Manufacturing Facilities and Others) and Infrastructure (Dams, Tunnels, Airports, Parking Spaces, Railways, Flyovers and Bridges, Roads, Pavements and Others)), Transport (Automotive (Passenger Vehicles (PV), Light Commercial Vehicles (LCV) and Heavy Commercial Vehicles (HCV)), Aerospace (Commercial, Military and Others), Marine (Passenger, Cargo and Others) and Locomotive), Printing and Packaging (Cans, Drums and Others) and Others.
By Geography: North America (USA, Canada and Mexico), Europe (UK, Germany, France, Italy, Netherlands, Spain, Russia, Belgium and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia and New Zealand, Indonesia, Taiwan, Malaysia and Rest of APAC), South America (Brazil, Argentina, Colombia, Chile and Rest of South America), Rest of the World (Middle East [Saudi Arabia, UAE, Israel and Rest of Middle East) and Africa (South Africa, Nigeria and Rest of Africa)].

Key Takeaways 

  • Asia-Pacific dominated the Zero-VOC Coalescent for Coatings market, owing to the growth of the construction activities in the region. For instance, according to the International Trade Administration (ITA), South Korea's construction industry was valued at US$164 billion in 2020, up 15.5% from 2019. 
  • The factors such as the surging disposable income of people, the rapid pace of industrialization and others are accelerating the demand for coatings in the automotive industry. This is leading to the zero-VOC coalescent for coatings industry growth. 
  • Moreover, the stringent regulations related to the VOC content are driving the Zero-VOC Coalescent for Coatings market growth. 
  • However, the fluctuations in the raw material prices such as acrylic, polyvinyl alcohol (PVA), vinyl acetate/ethylene (VAE) and others impact the overall pricing of Zero-VOC Coalescent for Coatings. This factor may restrict the market growth during the projected forecast period. 

Figure: Asia-Pacific Zero-VOC Coalescent for Coatings Market Revenue, 2021-2027 (US$ Million)

Zero-VOC Coalescent for Coatings Market

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Zero-VOC Coalescent for Coatings Market Segment Analysis – By Formulation 

The water-based segment held the largest Zero-VOC Coalescent for Coatings market share in 2021 and is forecasted to grow at a CAGR of 8.3% during the forecast period 2022-2027. Water-based formulations are employed in zero-VOC coalescent for coatings because they have a high degree of flexibility and reduce moisture and solar radiation absorption, resulting in superior environmental resilience and fewer solvent emissions. Moreover, in the water-based formulation, the hydrophobic/hydrophilic balance is used because it provides excellent conditions for being concentrated at the surface area of the polymeric particle in the dispersed stage. The higher the hydrophilicity of the coalescing agent, the better it will disperse in the aqueous phase. Thus, owing to these benefits of water-based formulation its adoption is increasing to ensure high flexibility of zero-VOC coalescent for coatings. This, in turn, is leading to the zero-VOC coalescent for coatings market growth. 

Zero-VOC Coalescent for Coatings Market Segment Analysis – By End-Use Industry 

The building and construction segment held the largest Zero-VOC Coalescent for Coatings market share in 2021 and is forecasted to grow at a CAGR of 8.5% during the forecast period 2022-2027. The zero-VOC coalescent for coatings is deployed in the building and construction industry to ensure superior support for the film formation at lower temperatures and enhance the adhesive and sealants property of coatings. The surging demand for affordable housing, increasing demand for commercial space and other factors are vital for the growth of the building and construction activities. For instance, according to the United States Census Bureau, in 2020, the total new residential construction projects started in the USA was 1,379.61 thousand units and in 2021 it was 1,610 thousand units, an increase of 16.7%. Moreover, in Q3 of 2021, the development of various offices started in Germany, which included Markisches Zentrum Redevelopment (the completion year 2023 Q4), Minden Headquarters Building (completion year Q3 2024), Kolbenhoefe Mixed-Use Complex (the completion year 2023 Q4) and others. Hence, the surging building and construction industry is boosting the demand for zero-VOC coalescent. As a result of this, the zero-VOC coalescent for coatings market size is expanding. 

Zero-VOC Coalescent for Coatings Market Segment Analysis – By Geography 

Asia-Pacific is the dominating region as it held the largest Zero-VOC Coalescent for Coatings market share in 2021 up to 40%. The growth of the building & construction activities, transport and other industries are driving the economic growth of the Asia-Pacific region. The key variables such as rising retail store building construction, rising commercial centers and more such variables are creating an opportunity for the construction industry growth in Asia-Pacific. For instance, in August 2021, New Zealand's Auckland Airport announced plans to develop 100 retail stores. The new retail area would entail the construction of a 23,000-square-meter-plus outlet center on undeveloped property near the airport's north-eastern boundary. Moreover, as of May 2022, the construction of the 466 trillion Indonesian rupiahs ($32.3 billion). Indonesia's new capital is in progress. The capital city's construction will be complete by the end of 2024. The construction activities include the construction of offices, residential apartments, shopping centers and more. Also, according to Invest India, there is a total of 115 future construction projects which are under the planning phase in India and the value of these projects is about US$11.63 million. These projects include the construction of hotels & office buildings, shopping complexes and more. Therefore, the growth of the building and construction industry is propelling the demand for zero-VOC coalescent for coatings to enhance adhesion and sealants. This, in turn, is accelerating market growth.

Zero-VOC Coalescent for Coatings Market Drivers 

Growth of the Transport Industry 

The key advantages of zero-VOC coalescent include better edge coverage, hydrophobic/hydrophilic balance, an extended performance due to the lack of entrapped solvent and more. These advantages result in enhancing the durability of the coatings. Thus, owing to these benefits, it is often deployed in coating the transport vehicles such as passenger cars, commercial aircraft and more. The factors such as the increasing adoption of passenger cars, the booming transport production and other factors are accelerating the growth of the transport industry. For instance, according to the Organisation Internationale des Constructeurs d'Automobiles (OICA), in 2021, the global automotive production was 80,145,988 units, an increase of 2% over 2020. Moreover, according to airbus the widebody aircraft production in the year 2018 was 96 units and in 2019, it was 153 units, an increase of 59.4%. Thus, the growth of the transport industry is accelerating the demand for zero-VOC coalescent coatings, thereby, driving the market growth. 

Government Regulation for Zero-VOC Coating Content 

A zero-VOC coating contains fewer volatile organic compounds. The regulations imposed by the governments worldwide are promoting the adoption of zero-VOC coalescent for coatings. For instance, the United Nations has implemented a series of 17 "Sustainable Development Goals" (SDGs) to define a blueprint for global sustainability by 2030. Many of these are related to coating sustainability, such as lowering VOCs and greenhouse gas emissions and substituting bio-sourced materials for fossil fuel-based products. Thus, the coating manufacturers are developing new coating products with zero-VOC Coalescent. For instance, in April 2021, a new coalescent technology for waterborne paints was developed by Clariant. This meets the zero-VOC requirement of ASTM D6886 and has a high bio-based carbon content of 96 percent as measured by ASTM D6866. Hence, the government regulations related to the zero-VOC content are boosting the demand for zero-VOC coalescent Coatings, this, in turn, is accelerating the market growth. 

Zero-VOC Coalescent for Coatings Market Challenges 

Fluctuations in the Raw Material Prices 

Price fluctuations in raw materials such as acrylic, polyvinyl alcohol (PVA), vinyl acetate/ethylene (VAE), epoxy and others may limit the market growth. Shortages and lack of availability of key raw materials, combined with significant price increases, are causing havoc in the coatings industries in the United Kingdom, Europe and other parts of the world. For example, According to BCF's monthly raw material price survey, in the first quarter of 2021, the price of epoxy resin increased by 60 percent over the third quarter of 2020. Similarly, the prices of acrylic, polyvinyl alcohol (PVA) and vinyl acetate/ethylene increased (VAE). As a result, fluctuating raw material prices may limit the zero-VOC coalescent for coatings industry growth during the forecast period of 2022-2027. 

Zero-VOC Coalescent for Coatings Industry Outlook 

Technology launches, acquisitions and increased R&D activities are key strategies adopted by players in the Zero-VOC Coalescent for Coatings market. The top companies in the Zero-VOC Coalescent for Coatings market are: 

  1. Clariant 
  2. BASF SE 
  3. Solvay 
  4. Jungbunzlauer 
  5. Eastman 
  6. Azelis Americas 
  7. Arkema 
  8. Myriant 
  9. Synthomer Plc 
  10. Dow Chemical Company 

Recent Developments 

  • In October 2021, Arkema launched a Biobased, Zero-VOC Coalescent for architectural and industrial coatings applications. The primary goal of this launch was to ensure sustainable coalescent technological development in the coatings industry. 
  • In April 2020, Clariant launched Genagen COA, a Zero-VOC Coalescent agent for the decorative coating industry. The main aim of this launch was to expand its market position. 
  • In April 2020, Solvay, a global specialty chemicals manufacturer, introduced a new line ofproducts at the Indianapolis paint show, including zero-VOC coalescent for coatings, to meet customers' needs in adhesives, color and performance systems. 

Relevant Reports 

Report Code: CMR 0067 

Report Code: CMR 0102

Report Code: CMR 1101 

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1. Zero-VOC Coalescent for Coatings Market - Overview
    1.1 Definitions and Scope
2. Zero-VOC Coalescent for Coatings Market - Executive Summary
    2.1 Key Trends by Formulation
    2.2 Key Trends by Resin
    2.3 Key Trends by Coating Type
    2.4 Key Trends by End-Use Industry
    2.5 Key Trends by Geography
3. Zero-VOC Coalescent for Coatings Market – Comparative analysis
    3.1 Market Share Analysis - Major Companies
    3.2 Product Benchmarking - Major Companies
    3.3 Top 5 Financials Analysis
    3.4 Patent Analysis- Major Companies
    3.5 Pricing Analysis (ASPs will be provided)
 4. Zero-VOC Coalescent for Coatings Market - Startup companies Scenario Premium  Premium
    4.1 Major startup company analysis:
        4.1.1 Investment
        4.1.2 Revenue
        4.1.3 Product portfolio
        4.1.4 Venture Capital and Funding Scenario
5. Zero-VOC Coalescent for Coatings Market – Industry Market Entry Scenario Premium  Premium
    5.1  Regulatory Framework Overview
    5.2 New Business and Ease of Doing Business Index
    5.3 Successful Venture Profiles
    5.4 Customer Analysis – Major companies
6. Zero-VOC Coalescent for Coatings Market - Market Forces
    6.1  Market Drivers
    6.2 Market Constraints
    6.3 Porter Five Force Model
        6.3.1  Bargaining Power of Suppliers
        6.3.2 Bargaining Powers of Buyers
        6.3.3 Threat of New Entrants
        6.3.4 Competitive Rivalry
        6.3.5 Threat of Substitutes
7. Zero-VOC Coalescent for Coatings Market – Strategic Analysis
    7.1 Value/Supply Chain Analysis
    7.2 Opportunity Analysis
    7.3 Product/Market Life Cycle
    7.4 Distributor Analysis – Major Companies
8.  Zero-VOC Coalescent for Coatings Market - By Formulation (Market Size – US$ Million/Billion)
    8.1 Water Based
    8.2 Solvent Based
    8.3 Powder Based
    8.4 Others
9.  Zero-VOC Coalescent for Coatings Market - By Resin (Market Size – US$ Million/Billion)
    9.1 Acrylic
    9.2 Polyvinyl alcohol (PVA)
    9.3 Vinyl Acetate/Ethylene (VAE)
    9.4 Styrene-Butadiene Rubber (SBR)
    9.5 Polyurethane Dispersions (PUD)
    9.6 Epoxy
    9.7 Others
10. Zero-VOC Coalescent for Coatings Market - By Coatings Type (Market Size – US$ Million/Billion)
    10.1 Architectural
    10.2 Industrial
    10.3 Special Purpose
11.  Zero-VOC Coalescent for Coatings Market - By End-Use Industry (Market Size - US$ Million/Billion)
    11.1 Building and Construction
        11.1.1 Residential
            11.1.1.1 Independent Houses
            11.1.1.2 Apartments
            11.1.1.3 Others
        11.1.2 Commercial
            11.1.2.1 Office Buildings
            11.1.2.2 Healthcare Facilities
            11.1.2.3 Retail Stores
            11.1.2.4 Banks
            11.1.2.5 Hotels and Restaurants
            11.1.2.6 Concert Halls and Museums
            11.1.2.7 Sports Arena
            11.1.2.8 Educational Institutes
            11.1.2.9 Others
        11.1.3 Industrial
            11.1.3.1 Warehouse
            11.1.3.2 Manufacturing Facilities
            11.1.3.3 Others
        11.1.4 Infrastructure
            11.1.4.1 Dams
            11.1.4.2 Tunnels
            11.1.4.3 Airports
            11.1.4.4 Parking Spaces
            11.1.4.5 Railways
            11.1.4.6 Flyovers and Bridges
            11.1.4.7 Roads
            11.1.4.8 Pavements
            11.1.4.9 Others
    11.2 Transport
        11.2.1 Automotive
            11.2.1.1 Passenger Vehicles (PV)
            11.2.1.2 Light Commercial Vehicles (LCV)
            11.2.1.3 Heavy Commercial Vehicles (HCV)
        11.2.2  Aerospace
            11.2.2.1 Commercial
            11.2.2.2 Military
            11.2.2.3 Others
        11.2.3  Marine
            11.2.3.1 Passenger
            11.2.3.2 Cargo
            11.2.3.3 Others
        11.2.4  Locomotive
    11.3 Printing and Packaging
        11.3.1 Cans
        11.3.2  Drums
        11.3.3  Others
    11.4 Others
12. Zero-VOC Coalescent for Coatings Market - By Geography (Market Size - US$ Million/Billion)
    12.1 North America
        12.1.1 USA
        12.1.2 Canada
        12.1.3 Mexico
    12.2 Europe
        12.2.1 UK
        12.2.2 Germany
        12.2.3 France
        12.2.4 Italy
        12.2.5 Netherlands
        12.2.6 Spain
        12.2.7 Russia
        12.2.8 Belgium
        12.2.9 Rest of Europe
    12.3 Asia-Pacific
        12.3.1 China
        12.3.2 Japan
        12.3.3 India
        12.3.4 South Korea
        12.3.5 Australia and New Zealand
        12.3.6 Indonesia
        12.3.7 Taiwan
        12.3.8 Malaysia
        12.3.9 Rest of APAC
    12.4 South America
        12.4.1 Brazil
        12.4.2 Argentina
        12.4.3 Colombia
        12.4.4 Chile
        12.4.5 Rest of South America
    12.5 Rest of the World
        12.5.1 Middle East
            12.5.1.1 Saudi Arabia
            12.5.1.2 UAE
            12.5.1.3 Israel
            12.5.1.4 Rest of Middle East
        12.5.2 Africa
            12.5.2.1 South Africa
            12.5.2.2 Nigeria
            12.5.2.3 Rest of Africa
13. Zero-VOC Coalescent for Coatings Market – Entropy
    13.1 New Product Launches
    13.2 M&As, Collaborations, JVs and Partnerships
14. Zero-VOC Coalescent for Coatings Market – Industry / Segment Competition landscape Premium Premium
    14.1 Company Benchmarking Matrix – Major Companies
    14.2 Market Share at Global Level - Major companies
    14.3 Market Share by Key Region - Major companies
    14.4 Market Share by Key Country - Major companies
    14.5 Market Share by Key Application Industry - Major companies
    14.6 Market Share by Key Product Type/Product category - Major companies
15. Zero-VOC Coalescent for Coatings Market – Key Company List by Country Premium Premium
16. Zero-VOC Coalescent for Coatings Market Company Analysis - Business Overview, Product Portfolio, Financials and Developments
    16.1 Company 1
    16.2 Company 2
    16.3 Company 3
    16.4 Company 4
    16.5 Company 5
    16.6 Company 6
    16.7 Company 7
    16.8 Company 8
    16.9 Company 9
    16.10 Company 10
* "Financials would be provided to private companies on best-efforts basis."