According to the latest report by IMARC Group, titled "Coating Additives Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028," the global coating additives market reached a value of US$ 9.8 Billion in 2022. Coating additives possess distinct paint properties, such as mildew resistance, de-foaming, and good flow and leveling. Their application helps overcome surface defects and problems when applying paints or post-drying. They also possess drying, surface modification, anti-settling, and anti-sagging properties. Apart from this, these additives are widely used for offering an aesthetic appeal to a given space. Coating additives are extensively utilized in automotive, industrial, architectural, and furniture industries. They are also used with construction paints to improve the impact resistance, viscosity, and surface effectiveness of substrates.
Global Coating Additives Market Trends:
The global market is majorly driven by the increasing demand for urethane-based coating additives in construction, industrial and automotive applications. In line with this, the development of high-quality additives by various companies through new technologies is significantly contributing to the market. Furthermore, significant growth in the construction industry driven by the heavy infrastructure expenditure in emerging markets is anticipated to contribute to the product demand. Apart from this, the rising awareness toward green construction and the augmenting preference for nano-coating are creating a positive outlook for the market. Moreover, numerous government regulations focusing on reducing the usage of volatile organic compounds (VOCs) are propelling the market growth. Besides, the shift in focus from solvent-based additives to aqueous additives is favoring the market. Additionally, extensive research and development activities to develop superior and bio-based products that comply with environmental regulations are offering lucrative opportunities in the market. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 12.9 Billion by 2028, exhibiting a CAGR of 4.4% during 2023-2028.
- Based on the type, the market has been segmented into acrylic, fluoropolymers, urethanes, metallic additives, and others.
- Based on the function, the market has been bifurcated into anti-foaming, wetting and dispersion, rheology modification, biocides, impact modification, and others.
- Based on the formulation, the market has been categorized into water-borne coating, solvent-borne coating, solventless coating, and others.
- Based on the application, the market has been classified into architectural, industrial, automotive, wood and furniture, and others.
- Based on the region, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others) and the Middle East and Africa.
- The competitive landscape of the market has been studied in the report with detailed profiles of the key players operating in the market. Some key players include Altana AG, Arkema S.A., Ashland Global, BASF SE, Clariant AG, Dow Inc., Eastman Chemical Company, Elementis plc, Evonik Industries AG, Huntsman Corporation, Momentive Performance Materials Inc. and Solvay S.A.
|Base Year of the Analysis
||Type, Function, Formulation, Application, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||Altana AG, Arkema S.A., Ashland Global, BASF SE, Clariant AG, Dow Inc., Eastman Chemical Company, Elementis plc, Evonik Industries AG, Huntsman Corporation, Momentive Performance Materials Inc. and Solvay S.A.
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