Coating Additives Market Estimated to Reach $8.7 Billion by 2018
DALLAS - Research firm MarketsandMarkets has released a new study that estimates the market for coating additives will reach $8.7 billion by 2018. The report defines and segments the coating additives market with analysis and forecasting of revenue and volume. It estimates that the market will grow at a CAGR of 6.4 percent from an estimated $6 billion in 2013 to $8.7 billion by 2018.
The major function of a coating additive is to improve the performance of coatings, addressing issues such as foaming, wetting and dispersing, inconsistent rheology, and biocides. With tightening environmental regulations, formulators are working to reduce the VOC content in their products. This has caused a shift towards the use of waterborne coatings or powder coatings, when possible, and has prompted the need to find the right balance between a product's performance and its composition. Careful selection of the right additive plays an important role in the performance of coatings in its end-use application.
According to estimates, the Asia-Pacific region leads the market for coating additives with 40.8 percent of the global market share in 2012. North America had a 26.9 percent share. Europe had 20.2 percent of the global market share. South America accounted for 8.1 percent of the global share, and the Rest of the World accounted for 4.1 percent. Looking at additives by type, acrylic-based coating additives lead demand with the highest share, followed by urethane, metallic and fluoropolymer-based additives.
The growth of the coating additives market has been studied through analysis of major factors that are driving the market, such as the growing demand for multifunctional additives. However, the difficulties faced by formulators and environmental regulations are proving to be the major restraining factors for the market.
For additional information about the report, “Coating Additives Market by Function (Rheology Modifiers, Dispersing, Wetting Agent, Impact Modifier, Anti-Foaming), Application (Automotive, Architecture, Industrial), Formulation (Water, Solvent, Powder Based), & Types - Global Trends & Forecast to 2018,” visit http://www.marketsandmarkets.com/Market-Reports/coating-additives-market-1268.html.
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