"Rising government regulations coupled with technological advancement in paints & coating additives will boost the market."
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 protections, 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, significant use of paints & coating across various industries like architectural, automotive, industrial, wood, aerospace, and marine applications, will drive the demand for additives globally.
Market Synopsis
GET A SAMPLE COPY FOR MORE INFORMATION
Application Analysis
"Rapid growth in industrial activities coupled with increasing demand for decorative coating worldwide will spark market growth."
The architectural segment comprises coating additives used in 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.
GET A SAMPLE COPY FOR MORE INFORMATION
Regional Analysis
"Dominance is led by the growing construction activities coupled with rising consumer disposable income to drive the global paint & coating additives market."
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.
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.
GET A SAMPLE COPY FOR MORE INFORMATION
List of Companies Covered:
- AGC Inc
- ALTANA
- Arkema Group
- Ashland
- BASF SE
- Cabot Corporation
- DAIKIN INDUSTRIES, Ltd
- Dow
- Dynea AS
- Eastman Chemical Company
- Elementis PLC
- Evonik Industries AG
- K-Tech (India) Limited
- Momentive
- Nouryon
- Solvay
Key Industry Development:
- In March 2018, Solvay expanded its portfolio with new specialty monomers and performance additives for coatings, paints, adhesives, and inks. Additionally, the products will offer numerous benefits such as particle-size control, better adhesion to substrates, emulsion stability, and improved wetting & dispersion.
- In October 2018, Allnex introduced a new technology named "BECKOPOX® EH 2162", which can be used for low viscosity and easily incorporate amine hardeners for low volatile organic compounds coatings like concrete floor finishes.
Historical & Forecast Period
This study report represents analysis for 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
By Type (2017–2027; US$ Bn)
- Dispersing
- Leveling
- Anti-foam
- Rheology Control
- Dispersants and Wetting
- Defoamers and Deaerators
- Others (Biocides, Stabilizers, Surface Modifiers, etc.)
By Application (2017–2027; US$ Bn)
- Architectural
- Wood
- Transportation
- Protective
- Others (Industrial, Automotive, etc.)
Geography Segment (2017–2027; US$ Bn)
- North America (U.S. and Canada)
- Europe (U.K., Germany, Spain, Italy, and the Rest of Europe)
- Asia Pacific (Japan, China, India, and Rest of Asia Pacific)
- Rest of World (Middle East & Africa (MEA), Latin America)
The current report also comprehends qualitative and qualitative market valuation factors such as key market drivers, market trends, restraints, and opportunities better to 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.
