Market Report Forecasts 2.5% Annual Growth Rate For Coatings Additives
The report from Business Communications Co. Inc., “Additives for Paint,” estimates total U.S. consumption of coatings additives at $710 million in 2002, with thickeners comprising the largest product group at approximately $209 million, or 29% of the total. Other major market segments were plasticizers, at $96 million; corrosion inhibitors, $85 million; biocides, $60 million; and surfactants, $51 million. Various other additives accounted for $150 million of the total additives market, the report says.
The strongest growth rates are being reported for surfactants, at about 3.3% a year, and biocides at 3.2%, the study concludes.
The report notes that additives have assumed an increasingly important role in coatings formulation due to highly complex technologies driven by increasingly restrictive regulations and legislation affecting VOC content. Reformulation designed to meet such regulations has created problems such as freezing, foaming and difficulties in application and cure, and additives have been employed to address these issues, the report says.
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