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Paint and Coatings AdditivesSustainableIndustry News

New Coatings Additives Market Report

Market-Reports (1)
May 15, 2023

The global coating additives market was valued at around US$ 10,613.3 M in 2021 and is anticipated to reach US$ 17,724.8 M by 2032. Sales in the global coating devices market are expected to reach a CAGR of 4.8% between 2022 and 2032.

Growing demand for coatings additives from various industries such as automotive, architecture, wood and furniture, and others is expected to drive the market. Considering this, the global coating additives sales are projected to increase at 1.6x, exceeding US$ 11,090.9 M in 2022.

These coating additives are technologically advanced with complex formulas and are induced in paints to enhance the quality and performance. On the back of the advancements in coating additives technology, demand in the market is predicted to increase at a steady pace over the forecast period (2022-2032).

As coating additives are required to comply with stringent zero-VOC emission regulations, several governments across the globe are increasing the demand for eco-friendly additives. Hence, emergence of green coating in several industries such as automotive, industrial, and others will boost the sales in the coating additives market.

2016-2021 Coating Additives Market Outlook Compared to 2022-2032 Forecast

Sales in the global coating additives market increased at a CAGR of 4.0% between 2016 and 2021, spurred by rising demand from a wide range of industries. Coating additives are among the most crucial ingredients in a coating formulation as they aid in regulating its performance. These additives are used in a variety of products, including automotive coatings, furniture, and construction.

Coating additives are a subset of chemically engineered materials with numerous use fields. These materials' performance improvements have led to their widespread incorporation into coatings formulations. Improved wettability, rheology, dispersion, UV protection, chemical resistance, and high-temperature stability are some of the chemical properties that add to the formulation. Due to these above-mentioned factors and expansion of industries, the demand in the market is likely to burgeon over the upcoming decade.

Further, the primary focus of the coatings additives market is the development of additives that improve performance and allow consumers to create products that adhere to local and international environmental standards. Hence, key players are developing multi-functional additives to address the issue of using various additives to combat various mechanical properties of coatings. By streamlining the chemistry of the coating, this new mixture facilitates the application of various additives. They lower the total additive content, which lowers raw material inventories, lowers coating costs, and increases manufacturing output.

What Are the Key Trends Driving the Global Coating Additives Market?

Coating additives are substances that are added to paints to raise their performance and quality. These additives are used to improve product characteristics and eliminate or lessen issues that arise during the production processes for formulating paint systems.

One of the key factors fueling the growth in the market is the rising demand for environmentally friendly products around the world. Growth in the market is accelerated by ongoing developments in chemical industry, expansion of automotive and construction industries, and the extensive use of raw materials to improve the quality and application of coating formulations.

The coating additives market is also expected to be benefited by increased research and development (R&D) activities and rising demand for multifunctional additives. As per the study, key players are likely to capitalize on rising preference for long-lasting and appealing finish and the popularity of customized coatings.

Category-Wise Insights

Sales of Coating Additives to Surge in Rheology Modification at a Robust Pace

In terms of application, the rheology modification segment is expected to be the leading segment in the coating additives market. In addition to modifying fundamental elements like stability, storage, and film thicknesses, they are used to control flow viscosity. Rheology additive demand is increasing as coating additive manufacturers focus more on raising the quality.

Hence, these leading players are investing in research activities to make coatings extremely viscous, enhancing their textural qualities, and extending their shelf life would be notable examples. Since the flow behavior of coating compositions greatly affects both application and film formation, application in rheology additives is predicted to rise.

Additionally, rheology modifiers are required to formulate coating additives for architectural coatings to meet the rising demand for soft-texture coatings. The rheology modification application is expected to hold around 29% of the value share for the year 2022.

Competitive Landscape

To meet the growing demand for functional additives, leading coating additive producers are creating novel products and widening their geographic reach. In order to have a strong presence in the global market, they are also signing long-term supply contracts with raw material suppliers and end users. In 2019, the specialty chemicals company BYK-Chemie GmbH (Altana) announced the expansion of BYK's specialty chemicals division in Shanghai, China. This expansion allows the company to serve customers in the rapidly expanding Asian markets.

A specialty chemicals company, Ashland Inc., expanded its dynamic line of waterborne architectural coatings products in 2019 by adding Strodex PK-86NV specialty phosphate ester surfactant.

To read the full report click on the Coating Additives Market Report by Future Market Insights

KEYWORDS: additives for coatings architectural coatings construction coatings market trends

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