The global coatings additives market was valued at $6,520 million and is expected to reach $11,020 million by 2022 at a CAGR of 6.9%. Coating additives are added to paints and coatings to improve their quality, impact resistance, viscosity, and surface effectiveness. These coating additives also improve the dispersion of solids, wetting, foam-reduction, anti-catering, gloss control, anti-chipping and UV protection, of the coatings. Polymers, silicates, chemicals, and various gases are used as additives in coatings to augment the properties of coating and paints. In 2015.
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The world coating additives market is anticipated to register substantial growth in the near future owing to increase in demand from various sectors such as architectural, industrial, automotive, wood & furniture, & others. Growth in demand for multifunctional additives, strict environmental regulations, and increase in awareness among users and formulators about the benefits of coating additives are the major factors that drive the market of coating additives across the globe. Rise in automotive and construction industries is expected to drive the coating additives market during the forecast period. As the industrial discharges or solid wastes of paint and coatings materials interfere with the local sanitary sewers that lead to the discharge of pollutants into local waterways. This may hinder the growth of the coating additives market because of rise in environmental concern.
The report segments the coating additives market based on formulation, end user, and geography. On the basis of formulation, the market is segmented into water based, solvent based, powder based, radiation curable, and solvent less. Demand for water-borne coating additives formulations has increased tremendously in the recent past year due to their low volatile organic compound (VOC) content. On the basis of end-user, the market is divided into architectural, industrial, automotive, wood & furniture, and others.
Geographically, the market is segmented into North America, Europe, Asia-Pacific, and LAMEA. In 2015, Asia-Pacific occupied the largest share in the global coating additives market, followed by North America and Europe. Improvement in economies and increased demand from automotive, building, and construction industry drives the coating additives market in the Asia-Pacific region.
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The key players profiled in the report include AkzoNobel N.V., Arkema SA, Ashland Inc., BASF SE, BYK-Chemie GmbH, The DOW Chemical Company, Solvay, Evonik Industries AG, Momentive Performance Materials Inc., and Eastman Chemical Company. The vast product portfolio of coating additives and strong distribution network characterize the market dominance of these companies.
Other companies in this market include Elementis PLC, The Lubrizol Corporation, Michelman, Inc., Croda International Plc, and Cytec Industries Inc.
Key Market Benefits
- This report provides an extensive analysis of the current trends, future estimations, and dynamics from 2014 to 2022 of the global coating additives market, which assists to identify the prevailing opportunities.
- Geographically, the market is analyzed based on various regions such as North America, Europe, Asia-Pacific, and LAMEA.
- Exhaustive analysis predicts the applications that are currently used along with the variants that would gain prominence in the future.
- Competitive intelligence of leading manufacturers and distributors highlights the competitive scenario across the geographies.
- An in-depth analysis of current research and developments within the market is provided with key dynamic factors that interpret the market behavior.
- Extensive analysis is conducted by following key product positioning and monitoring the top competitors within the market framework.
- Key market players are profiled and their strategies are analyzed thoroughly, which portray the competitive outlook.
Key Market Segments
The World Coating Additives Market is segmented as:
- Water Based
- Solvent Based
- Powder Based
- Radiation Curable
- Solvent Less
By End User
- Wood & Furniture