The market for Paints & Coating Additives Market is expected to reach USD$ 7.43 Bn in 2027.
The global paints & coating additives market is growing proficiently, projected to grow at a CAGR of 6.1% during the expected period from 2019 to 2027, starting from US$ 7.43 Bn in 2018.
The paint & coating additives are used as raw materials that improve both features and application of paints & coatings in numerous industries. Additionally, adding additives to paints and coatings will significantly expand their performance efficiency. Moreover, the additives, which include wetting & dispersing agents, thickener & anti-setting agents, deformers, and specialty additives, offer numerous properties like durability, enhanced appearance, and anti-corrosiveness. The aforementioned factors have increased the major application of additives in decoration, environmental protection, and texture enhancement, thereby expanding the market for paints & coating additives over the forecast period.
In the present global scenario, additives are mainly used as performance enhancers throughout the production process. Additionally, the growing trend of using multifunctional additives, which provide multiple properties in a single additive, will drive the market on a global scale. For instance, Troy Corporation introduced a wet substrate and flow additive, i.e., "Troysol ZLAC," which subsidizes the emission of volatile organic compounds (VOC) from the substrate during and after the application of paint/coating. Furthermore, the significant use of paints & coating across various industries, like architectural, automotive, industrial, wood, aerospace, and marine applications, will drive the demand for additives globally.
The architectural segment comprises coating additives used for commercial purposes like warehouses, office buildings, shopping malls, retail convenience stores, and residential buildings. In addition, a few of its major application in architectural coating includes defoamers, rheological modifiers, wetting agents, and dispersants. Moreover, properties like stabilizing pigment, enhancing surface properties, dispersing properties, and enhancing wetting and defoaming properties are likely to expand the market revenue globally. Furthermore, the growing demand for decorative coatings in residential units for better aesthetics is projected to expand the market in architectural coatings in the coming years.
The growing demand for paints and coatings will increase the additives market exponentially. Moreover, additional applications, such as corrosion inhibition, surface protection, infrastructure, and decoration of buildings, are likely to enhance the architectural segment, thereby boosting the market growth for the architectural segment over the forecast period.
Asia-Pacific is projected to hold the highest market share in 2018 and is likely to remain the largest market over the forecast period, owing to the growing demand for automotive, construction, furniture, and industrial applications. Additionally, swift growth in the construction industry is a significant driver for the region's paint & coating additives market. Moreover, the presence of developing countries like India, China, and Japan contributes to the market growth, owing to the rising demand for paints & coatings from numerous industries such as furniture, construction, and many more industries. Furthermore, augmented prominence on environment-friendly coatings will continue to expand the market over the forecast period 2019-2027.
The growing adoption of new rules and regulations by major industry players for environmental concerns will dominate the market in the coming years. For instance, a new tariff/tax policy was placed on paints for every gram of VOC. Of the large global markets, India is predicted to be the fastest-growing market globally, owing to the swift growth in the paint & coating additives market. On account of continuous enhancements in economic conditions across the region, the market for paints & coating additives will boost the demand for infrastructural activities in the country. Additionally, growing developments in residential and commercial sectors are predictable to lift the paints and coatings market across India. Thus, fueling the demand for paints and coatings additives in the coming years. Moreover, an increase in mergers and acquisitions, joint ventures, and collaboration between various industry players will give plenty of room for the region's paints & coating additives market.
This study report represents an analysis of each segment from 2017 to 2027, considering 2018 to be the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period from 2019 to 2027.Segmentation
The current report also comprehends qualitative and qualitative market valuation factors such as key market drivers, market trends, restraints, and opportunities to better understand the overall paints & coating additives market. Additionally, the global report also comprises a graphical representation of the competitive landscape based on their market initiatives and strategies, product portfolio, and business strengths.
The market for Paints & Coating Additives Market is expected to reach USD$ 7.43 Bn in 2027.
The Paints & Coating Additives Market is expected to see significant CAGR growth over the coming years, at 6.1%.
The report is forecasted from 2019 -2027.
The base year of this report is 2018.
AGC Inc,ALTANA,Arkema Group,Ashland,BASF SE,Cabot Corporation,DAIKIN INDUSTRIES, Ltd,Dow,Dynea AS,Eastman Chemical Company,Elementis PLC,Evonik Industries AG. are some of the major players in the global market.