Coating Additives Market Size Analysis
According to a recent survey conducted by ChemView Consulting, the Global Coating Additives Market grew at a CAGR of 4.6% between 2017-2021 and is estimated to be US$ 8,346.5Mn in 2022. Currently, the market is anticipated to grow at a CAGR of 5.2% and is expected to reach a valuation of US$ 13,856.8Mn by 2032 end.
Modern coating additives with intricate formulations are used in paints to improve quality and performance. The market demand is anticipated to grow steadily throughout the forecast period due to developments in coating additive technology.
Many governments worldwide are raising the demand for eco-friendly additives as coating additives must adhere to strict zero-VOC emission rules. Thus, developing green coating in various industries, including automotive, industrial, and others, will increase the demand for coating additives.
PREFERENCE FOR CUSTOMIZED COATINGS TO FUEL THE DEMAND IN THE COATING ADDITIVES MARKET
The purpose of coating additives is to improve the performance and quality of paints. These additives are used to enhance product qualities and reduce or eliminate problems during paint systems’ formulation processes. The increasing demand for ecologically friendly products worldwide is one of the major drivers of market expansion.
The expansion of the construction and automotive industries and the extensive use of raw materials to enhance the quality and application of coating formulations all contribute to the market’s rapid growth. The need for coating additives is also anticipated to benefit from rising multifunctional additive demand and increased research and development (R&D) activities.
VOLATILITY OF THE PRICING OF RAW MATERIALS
The unpredictability of raw material prices is one of the main concerns that could limit market expansion. Market expansion is anticipated to be hampered by fluctuations in the price of raw materials like acrylate, silicones, and urethane. Additionally, it is projected that the market’s expansion will be slowed by the tight environmental rules enacted by the government and regulatory organizations.
Due to the emission of volatile organic compounds, the market for coating additives is anticipated to have problems throughout the projected period (VOC).
BOOMING BUILDING & CONSTRUCTION SECTOR WORLDWIDE
The increasing global building and construction industry is anticipated to drive the market for coating additives during the forecast period. In the building sector, coating additives are used to improve substrates’ viscosity, surface efficiency, and impact strength.
The global market for coating additives is anticipated to grow due to the rapid global expansion of residential and commercial construction activities and the rising use of eco-friendly additives to improve wall and roof installations while reducing environmental harm.
Market Segments Covered in Report
By Product Type:
By Formulation Type:
By End-Use Industry:
By Region and Country:
Which is the leading application in the coating additives market?
Rheology modification is anticipated to be the market leader for coating additives in terms of application. The rheology modification application is expected to control around 31.0% of the value share. They regulate flow viscosity and alter key components, including stability, storage, and film thicknesses. Demand for rheology additives is rising as coating additive makers prioritize improving quality.
For instance, these prominent firms are spending on research to make coatings highly viscous, improve their textural features, and lengthen their shelf life. It is anticipated that further applications of rheology additives will be made since the flow behavior of coating formulations significantly impacts both application and film formation.
What is the significance of Acrylics?
The most popular product category is acrylic additives, urethanes, and metallic additives. The surfaces can withstand greater temperatures, abrasion, moisture, biocides, and chemical resistance thanks to coating additives. The market for coating additives is segmented based on formulations into water-borne, solvent-borne, and powder-based coatings.
Why is the Solvent-Based Segment increasing in demand in the anticipated period?
The most popular coating additive compositions in recent years have been solvent-borne coatings. However, because of their lower VOC content and rising popularity due to high VOC content and environmental concerns, water-borne coating additive formulations are expected to see significant growth shortly.
The regions analyzed for the market include North America, Europe, Latin America, Asia Pacific, Middle East, and Africa.
Leading coating additives manufacturers are developing novel products and expanding their geographic reach to meet the rising demand for functional additives. They are also concluding long-term supply agreements with raw material suppliers and end users to have a significant presence on the international market.
A list of some of the key suppliers present in the market are:
Report Coverage and Highlights
|Historical data available for||2017-2021|
|Market analysis||USD Million for Value and Tons for Volume, and CAGR from 2022 to 2032|
|Key regions covered||North America, Latin America, Europe, Asia-Pacific, Middle East, and Africa|
|Key countries covered||US, Canada, Brazil, Mexico, Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Saudi Arabia, Turkey, UAE, South Africa, Nigeria, Egypt|
|Key segments covered||By Product Type, Formulation Type, End-Use Industry, Application, and Region|
|Customization scope||Available upon Request|
|Pricing and purchase options||Available upon Request|
Frequently Asked Questions
In the forecast period between 2022 and 2032, the market is expected to grow at a CAGR of 5.2%.
Preference for customized coatings to fuel the demand in the coating additives market
Major global Coating Additives Market players are Akzo Nobel NV, Arkema SA., Ashland Global Holdings Inc., BASF SE, BYK-Chemie GmbH, Asahi Glass Co., Ltd., Dow Chemical, Evonik Industries AG, Solvay SA, Momentive Performance Materials, Inc., Arch Chemicals, Lonza Group AG
The unpredictability of raw material prices is one of the main concerns that could limit market expansion.
Europe is expected to account for the largest market revenue share in the Global Coating Additives market.
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