Paint and coatings producers are continually improving their processes to comply with the increasing number of regulatory policies enforced by various governments. The products that fail to meet these legal requirements are not allowed in the countries that have these strict environmental regulations, especially in many countries in Western Europe and the North America region.
The low-VOC coatings market is projected to grow from USD 89 billion in 2019 to USD 120 billion by 2024, at a CAGR of 6.0% during the forecast period. Waterborne, powder and radiation cure technologies are the major low-VOC coating technologies, and are thus gaining in popularity. Many cleaner technologies also reduce paint waste by improving the transfer efficiency of the coating to the substrate.