In a report by MarketsandMarkets, the coating additives market is expected to grow from $8.72 billion in 2024 to $11.04 billion by 2029, at a compound annual growth rate (CAGR) of 4.8%. The report attributes this growth to several factors, including the increasing demand for waterborne products, the expansion of the industrial sector in the Asia Pacific region and the growing number of infrastructural projects and urbanization.

Coating additives are used to enhance the performance and functionality of coatings, making them more durable, weather-resistant and visually appealing. These additives are used in a wide range of applications, including architectural, industrial, automotive and wood and furniture coatings.

The report also highlights the growing demand for bio-based additives and the increasing focus on sustainability as key drivers of the market. In particular, the water-borne formulation segment is expected to see the fastest growth, driven by the need to reduce volatile organic compound (VOC) emissions and the increasing preference for environmentally friendly products.

In terms of geography, the Asia Pacific region is expected to see the highest growth in the coating additives market, driven by the region’s rapid industrialization and urbanization. Europe is also expected to be a key market, with the region’s strong manufacturing base and focus on sustainability driving demand for advanced coatings.

Access the full report here.