Research Cosmos Releases Report on Coatings Additives Market
PRINCETON, NJ — According to a report published by Research Cosmos, the global coatings additives market was $6.39 billion in 2015 and is likely to reach $9.19 billion by 2021, registering a compound annual growth rate of 6.1% between 2016 and 2021.
Increasing research and development to create bio-based products that comply with environmental guidelines is expected to produce opportunities for market participants over the forecast period. Instability in prices of raw materials, such as urethane, acrylate and silicones, due to changing petrochemical prices and supply-demand bottlenecks is likely to pose challenges to market participants in terms of pricing, end-product supply and profitability. Also, concerns related to the emission of VOCs are another factor hindering the growth of the global coatings additives market. Nevertheless, key players operating in the coatings additives market are concentrating on the development of bio-based, water-based and eco-friendly additives. Increased investment in research and development (R&D) activities to create advanced products that meet environmental rules is likely to create lucrative opportunities for players during the forecast period.