Global Coating Additives Market

Coating Additives Market Size, Share, Growth Analysis, By Type (Acrylics, Fluoropolymers), By End-User (Automotive, Industrial), By Formulation (Water-Borne, Solvent-Borne), By Region - Industry Forecast 2024-2031


Report ID: SQMIG15E2207 | Region: Global | Published Date: August, 2024
Pages: 184 | Tables: 88 | Figures: 76

Coating Additives Market Insights

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). 

The global coating additives market is anticipated to experience significant growth as there is a shifting focus from solvent-based additives to aqueous additives. The demand for coating additives is expected to be driven by various application markets, including automotive, construction, furniture, and other industrial sectors, over the next six years. Additionally, the increasing importance of multifunctional additives is expected to complement the market growth. The industry faces intense competition among market participants and is subject to growing environmental regulations. To address these challenges, companies are actively engaged in developing higher quality additives using new technologies and raw material sources. Moreover, participants in the market are leveraging research and development efforts to create superior and environmentally friendly products that comply with regulations. However, market participants may encounter challenges related to pricing, end-product supply, and profitability due to volatility in raw material prices such as urethane, acrylate, and silicones, which are influenced by fluctuating petrochemical prices and supply-demand imbalances. The global construction industry's growth, particularly in emerging markets of the Asia Pacific and Latin America, is being propelled by increased infrastructure spending. Coating additives play a crucial role in enhancing the impact resistance, viscosity, and surface effectiveness of construction paints. Consequently, the construction industry's expansion is expected to drive the demand for paints and coatings, subsequently fueling the demand for coating additives. Furthermore, the growth of the automotive sector, driven by increasing vehicle demand in emerging markets, is anticipated to further contribute to the demand for coating additives. In the Asia Pacific region, the use of urethane-based additives in construction, industrial, and automotive applications is projected to drive demand. Additionally, increased production in China is expected to benefit the Asia Pacific market. However, the coating additives market in North America and Europe is predicted to witness moderate growth over the next six years, primarily due to the economic crisis and sluggish growth in major end-use industries within these regions.

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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) ', 'Eastman Chemical Company (US) ', 'Dow Chemical Company (US) ', 'Evonik Industries AG (Germany) ', 'AkzoNobel N.V. (Netherlands) ', '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) ', 'PPG Industries, Inc. (US) ', 'Michelman, Inc. (US) ', 'Huntsman Corporation (US) ', 'Cabot Corporation (US) ', 'Allnex Belgium SA/NV (Belgium) ', 'Siltech Corporation (Canada) ', 'Lonza Group Ltd. (Switzerland) ', 'Innospec 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

Report ID: SQMIG15E2207

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