Authored By: Sarah
04 Jul 2024

 Coating Additives Market Size to grow by USD 3331.68 million between 2023-2027

According to a research report “ Coating Additives Market” by Application (Architecture, Industrial, Automotive, Wood and furniture, Others) Formulation (Water-borne, Solvent-borne, Powder-based) Geography (APAC, North America, Europe, South America, Middle East and Africa)- Global Forecast to 2027 published by Technavio, the market size is estimated to grow by USD 3331.68 million, at a CAGR of  5.86% during the forecast period. The paints and coatings market is experiencing a surge in demand for functional products that provide additional benefits to end-users beyond aesthetics. Weatherability and corrosion resistance are key functionalities in high demand, as buildings face significant damage from prolonged exposure to rain, heat, and other environmental factors. Coating additives play a crucial role in mitigating these issues by inhibiting the growth of fungi and algae, reducing water seepage, and enhancing overall structural strength. As a result, the market for coating additives with functional benefits is poised for significant growth.

Browse market data tables, figures, and in-depth TOC on “Coating Additives Market” by Application (Architecture, Industrial, Automotive, Wood and furniture, Others) Formulation (Water-borne, Solvent-borne, Powder-based) Geography (APAC, North America, Europe, South America, Middle East and Africa) Global Forecast to 2027. Download Free Sample

 

By Application, the Architecture segment is projected to dominate the market size in 2024

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By Formulation, Water-borne  segment is expected to hold the largest market size for the year 2024

In the realm of surface protection and enhancement, coating additives play a pivotal role by safeguarding coatings against environmental hazards such as UV radiation, moisture, and microbes. The coating additives market has experienced significant innovation, with the emergence of smart coatings and nanoparticles, as industry players prioritize the development of eco-friendly products and those offering functional advantages. Current coating additives cater to diverse customer requirements, providing benefits like graffiti resistance and self-cleaning properties. The APAC region is poised for substantial growth in the coating additives market due to burgeoning construction activities.

APAC is forecasted to hold the largest market size by region in 2024

The Asia Pacific (APAC) region is projected to dominate the global coating additives market, accounting for a significant market share through the forecast period. This growth can be attributed to the burgeoning industries in APAC, including construction, automotive, and aerospace and defense. Key contributors to the regional market expansion include China, India, Japan, and Australia. The automotive sector, in particular, is witnessing a surge due to the establishment of manufacturing bases by companies such as General Motors and Ford, attracted by the region's low-cost labor and favorable business environments. Governments in countries like India are also encouraging investment through initiatives such as Make in India, FDI, funding, and loans. Indonesia, Malaysia, and Thailand are providing tax subsidies to further boost automotive manufacturing growth.

The Coating Additives Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:

  • Akzo Nobel NV
  • Altana AG
  • Arkema Group
  • Ashland Inc.
  • BASF SE
  • Berkshire Hathaway Inc.
  • Cabot Corp.
  • Clariant International Ltd.
  • Daikin Industries Ltd.
  • Double Bond Chemical Ind. Co. Ltd.
  • Dow Chemical Co.
  • Eastman Chemical Co.
  • Elementis Plc
  • Huntsman International LLC
  • Lanxess AG
  • Momentive Performance Materials Inc.
  • Munzing Chemie GmbH
  • RAG Stiftung
  • Solvay SA
  • The Sherwin Williams Co.
.

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Research Analysis Overview

The Coating Additives Market is witnessing significant growth due to the increasing demand for paint systems with improved performance and environmental friendliness. Raw material inventories are being replenished with chemically engineered materials that offer multifunctional benefits, such as high-temperature stability, rheology control, and wettability enhancement. Environmental standards continue to shape the market, with a focus on reducing VOC emissions and promoting eco-friendly products. Multifunctional additives are gaining popularity for their ability to provide performance improvements while minimizing the environmental impact. Technology advancements in the production of bio-based additives and the development of green coating solutions are key trends driving the market. However, technological difficulties in producing high-performance, cost-effective additives remain a challenge. Industrial responsibility and consumer preferences for environmentally friendly products are also influencing the market outlook. Corrosion protection and durability remain important considerations, with additives that offer both benefits in high demand. As regulatory pressures increase, companies are investing in innovation to meet VOC emission regulations and reduce the environmental impact of their products. Overall, the Coating Additives Market is poised for continued growth as demand for high-performance, eco-friendly coatings increases.

Market Research Overview

The Coating Additives Market is experiencing significant growth due to the increasing demand for customized coatings in various industries, including construction, automotive, and chemical. The construction industry is driving the market with the need for environmentally friendly products that meet strict environmental standards. In the automotive industry, there is a growing trend towards high-performance, eco-friendly paint systems that offer improved appearance, weather resistance, and chip resistance. Technology advancements and foreign investments are playing a crucial role in the development of multifunctional additives that provide high-temperature stability, rheology, and wettability improvements. The chemical industry is focusing on the production of green coating solutions that comply with VOC emission regulations. The manufacturing output, raw material inventories, and consumer preferences are influenced by factors such as disposable income, employment rates, living standards, population growth, and residential construction trends. The shift towards waterborne coatings from solvent-borne coatings is also impacting the market outlook. Performance improvements, compatibility, and stability are key considerations for additives used in paint systems. The aerospace and automotive sectors are investing in innovative, eco-friendly products, and strategic decisions are being made to navigate the volatile landscape of profit margins and cost escalations. The use of bio-based additives and pigment dispersing agents is increasing to address technical hurdles and improve the environmental friendliness of coatings. The market for coating additives is expected to continue growing, driven by the need for corrosion protection, color reproducibility, and improved performance in various industries.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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