Global Coating Additives Market

Global Coating Additives Market Size, Share, Growth Analysis, By Type(Acrylics, Fluoropolymers), By End-User(Automotive and Industrial) - Industry Forecast 2024-2031

Report ID: SQMIG15E2207 | Region: Global | Published Date: March, 2024
Pages: 184 | Tables: 61 | Figures: 75

Global Coating Additives Market Regional Insights

The Asia Pacific region dominated the global coating additives market. The region has been experiencing rapid industrialization and urbanization, particularly in emerging markets such as China and India. This growth is supported by increasing infrastructure spending, which drives the demand for construction paints and coatings. The automotive sector in APAC is also witnessing substantial growth due to rising vehicle demand. As a result, there is a high demand for coating additives in this region, with a particular focus on urethane-based additives in construction, industrial, and automotive applications.

The North American region is expected to witness moderate growth over the forecast period. The economic crisis in the region has resulted in a slow growth rate in major end-use industries, thereby impacting the demand for coating additives. However, despite these challenges, North America remains a significant market for coating additives due to its well-established industries and technological advancements. Several key players operate in this region, contributing to the competitive landscape of the market.

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FAQs

Global Coating Additives Market size was valued at USD 9.14 Billion in 2022 and is poised to grow from USD 9.61 Billion in 2023 to USD 14.31 Billion by 2031, at a CAGR of 5.10% during the forecast period (2024-2031).

Global coating additives market is characterized by a high degree of competition among market participants. Companies in the market are actively involved in developing higher quality additives through the adoption of new technologies and sourcing raw materials from diverse sources. The focus is on meeting the growing demand for environmentally friendly and compliant products, as well as addressing the evolving needs of various application industries. This competitive environment drives innovation and fosters continuous research and development efforts to stay ahead in the market. 'Arkema (France)', 'BASF SE (Germany)', 'King Industries Inc. (US)', 'Valspar Corporation (US)', 'Eastman Chemical Company (US)', 'Dow Chemical Company (US)', 'Evonik Industries AG (Germany)', 'AkzoNobel N.V. (Netherlands)', 'Lubrizol Corporation (US)', 'BYK-Chemie GmbH (Germany)', 'Elementis PLC (UK)', 'Clariant AG (Switzerland)', 'Solvay S.A. (Belgium)', 'Croda International PLC (UK)', 'Wacker Chemie AG (Germany)', 'Ashland Global Holdings Inc. (US)', 'Momentive Performance Materials Inc. (US)', 'PPG Industries, Inc. (US)', 'Nouryon (Netherlands)', 'Michelman, Inc. (US)'

One key driver for the growth of the coating additives market is the increasing demand from various application sectors such as automotive, construction, furniture, and other industrial applications. This demand is fueled by the need to enhance the impact resistance, viscosity, and surface effectiveness of substrates in these industries. Additionally, the shift in focus from solvent-based additives to aqueous additives, driven by environmental regulations and the growing importance of multifunctional additives, further propels the market's growth.

One key market trend in the coating additives industry is the growing emphasis on sustainable and eco-friendly products. With increasing environmental regulations and consumer awareness, there is a shift towards the development and adoption of coating additives that are bio-based, renewable, and have lower environmental impact. Market players are investing in research and development to create innovative and sustainable additives that provide comparable or enhanced performance compared to conventional additives. This trend aligns with the global focus on sustainability and offers opportunities for market participants to cater to the evolving preferences of customers.

The Asia Pacific region dominated the global coating additives market. The region has been experiencing rapid industrialization and urbanization, particularly in emerging markets such as China and India. This growth is supported by increasing infrastructure spending, which drives the demand for construction paints and coatings. The automotive sector in APAC is also witnessing substantial growth due to rising vehicle demand. As a result, there is a high demand for coating additives in this region, with a particular focus on urethane-based additives in construction, industrial, and automotive applications.

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Global Coating Additives Market

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