Global Paint Additives Market to Exceed $6 Billion
February 22, 2010
SAN JOSE, CA – According to a new report by Global Industry Analysts Inc. (GIA), the world market for paint additives is projected to exceed $6.0 billion by the year 2015. The trend towards low- or zero-VOC products and the increasing shift towards water-based paint systems are fueling demand for paint additives, providing tremendous growth potential for suppliers of paint and coating additives.
The paint and coatings industry has been put under significant pressure by stringent environmental regulations in recent years. In a bid to minimize the impact of their products on the environment, several manufacturers of coatings and paint began reformulating their products. As a result, demand for novel additives that ensure aid in addressing environmental concerns has increased in recent years.
The United States dominates the world paint additives market as the single-largest market. The credit crisis in 2007 and the subsequent recession in 2008 decelerated growth in value demand of paint additives in the United States. Demand for paint additives is expected to revive in the coming years, owing to increasing demand for these products from formulators in an effort to adhere to changing legislation.
Growth in the global market for paint additives is primarily originating from emerging markets such as Asia-Pacific. The rapid economic growth in most of the emerging countries in recent years resulted in rampant architectural construction and industrial activity, which created significant demand for paint and additives that, in turn, increased demand for paint additives. Owing to continued growth in architectural construction activity in countries such as India and China, Asia-Pacific is expected to emerge as the fastest-growing regional market for paint additives worldwide in the coming years.
The report, "Paint Additives: A Global Strategic Business Report," provides a comprehensive review of market trends, competitive scenarios, product introductions and recent industry activity. The study analyzes market data and analytics in terms of value sales for regions including the United States, Japan, Europe, Asia-Pacific and rest of world.
Visit www.strategyr.com/Paint_Additives_Market_Report.asp for additional information.