CHICAGO, Sept. 28, 2023 /PRNewswire/ -- The report "Coating Additives Market by Type (defoamers, wetting & dispersing agents, rheology modifiers), Formulation (water-borne, solvent-borne), Application (architectural, industrial, automotive & transportation, wood & furniture), Region - Global Forecast to 2028", size was USD 8.3 billion in 2023 to USD 10.5 billion by 2028, at a CAGR of 4.7% from 2023 to 2028.
Browse in-depth TOC on "Coating Additives Market"
168 – Tables
57 – Figures
174 – Pages
Coating additives encompass chemical compounds or substances strategically integrated into coatings and paints to enhance their properties, performance, and application characteristics. These additives are instrumental components within coating formulations, tailored to accomplish specific objectives and overcome challenges related to coating application and usage. They play a pivotal role in elevating the quality, durability, appearance, and functionality of coatings across a multitude of industries and applications. Among coating additives, rheology modifiers emerge as the largest category. They hold a critical role in enhancing the overall performance and application attributes of coatings. Rheology modifiers effectively manage the viscosity of coatings, simplifying the application process, preventing drooping or sagging, and ensuring consistent coverage. This viscosity control is fundamental for achieving the desired finish and thickness while contributing to a smoother and aesthetically pleasing coating through improved flow and leveling. This feature is especially significant for top-tier coatings employed in automotive and architectural applications. Architectural applications constitute a substantial and rapidly expanding segment within the coating additives market. This growth is propelled by the global trend of increasing urbanization, leading to a notable upsurge in construction activities, particularly in emerging economies.
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"Rheology modifiers was the largest type for coating additives market in 2022 in terms of value."
In response to stringent environmental regulations and a growing focus on sustainability, there has been a notable shift towards the adoption of water-based coatings in the region. Within this evolving landscape, rheology modifiers play a pivotal role in ensuring the stability and performance of water-based formulations, aligning with these regulatory shifts. Various chemistries of rheology modifiers find application in paints and coatings, including but not limited to cellulosic, specialty clay, organoclays, hydrogenated castor oils, fumed silicas, polyamides, and overbased sulphonates, among others. Among these, rheology modifiers claim the largest market share, driven by their exceptional attributes such as viscosity control, stability in preventing pigment and solid particle settling, facilitation of coating flow and leveling, and the introduction of thixotropic qualities to coatings.
"Water-borne formulation is estimated to be the largest segment in coating additives market between 2023 and 2028 in terms of value"
Water-borne coating additives find widespread use in applications where environmental concerns and the imperative of low Volatile Organic Compound (VOC) emissions take precedence. These applications span various sectors, including architectural, automotive & transportation, wood & furniture, and packaging coatings. These specialized formulations are meticulously crafted to yield a stable mixture that can be efficiently applied to surfaces, resulting in the creation of protective and aesthetically appealing coatings. These coatings are characterized by desirable attributes such as strong adhesion, durability, and an appealing appearance. It's worth noting that the demand for water-borne coating additives has been substantial, commanding a significant portion of the global coating additives market share, primarily due to their environmental advantages and versatility in diverse applications.
"Architectural segment is estimated to be the largest application in coating additives market between 2023 and 2028 in terms of value."
The construction and real estate sectors, which heavily rely on architectural coatings, have demonstrated consistent growth. This sustained expansion translates into a continuous need for coating additives within the realm of architectural applications. Stringent environmental regulations have propelled the adoption of environmentally friendly options like water-based and low-VOC (Volatile Organic Compounds) coatings in architectural contexts. The prevailing economic prosperity further amplifies construction and renovation activities across both residential and commercial domains, subsequently augmenting the demand for coatings. Notably, the Asia-Pacific region, characterized by its substantial and continuously expanding population, plays a pivotal role in this dynamic. The population growth acts as a catalyst for increased construction projects encompassing residential and commercial properties, thereby driving heightened demand for architectural coatings and their associated additives.
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"Asia Pacific is estimated to be the fastest-growing region for the coating additives market during the forecast period from 2023 to 2028"
Asia-Pacific is anticipated to achieve the highest CAGR in this market, primarily driven by several key factors. Firstly, the region boasts the presence of significant market players, and it experiences substantial demand from vital end-use industries like automotive, architectural, and wood & furniture.
Asia-Pacific, marked by its rapid development, represents a promising arena for various industry participants. A noteworthy trend is the strategic relocation of production facilities by leading players from North America and Europe to this region. This strategic shift is motivated by factors such as the availability of cost-effective raw materials, reduced production costs, and the imperative to better serve local markets.
Market Players :
The key market players in Coating additives market are Evonik Industries AG(Germany), ALTANA AG(Germany), BASF SE(Germany), Dow Inc.(US), Nouryon(Netherlands), Arkema S.A.(France), ELEMENTIS PLC(UK), Allnex GMBH(Germany), Arkema S.A.(France), Eastman Chemical Company(US), and Ashland Inc.(US).https://www.marketsandmarkets.com/requestsampleNew.asp?id=421 - utm_source=PRnewswire&utm_medium=Referal&utm_campaign=PaidPR
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Industrial Coatings Market - Global Forecasts to 2025
Paints & Coatings Market - Global Forecasts to 2027
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