Overview and Scope
The term “coating additives” refers to a specialized group of chemically engineered materials designed to enhance performance by modifying the rheology and coating formulations’ anti-foaming, wetting, and dispersing properties. Coating additives are used to remove defects in the coating, such as foam bubbles, poor levelling, and flocculation. They are also used to impart specific properties to the formulations, such as better slip, flame retardance, UV stability, chemical resistance, and other properties.
Sizing and Forecast
The coating additives market size has grown strongly in recent years. It will grow from <b>$9.36 billion in 2023 to $10.22 billion in 2024 at a compound annual growth rate (CAGR) of 9.2%. </b> The growth in the historic period can be attributed to construction industry growth, increased paints and coatings demand, industrial manufacturing, increased regulatory compliance, and increased environmental concerns.
The coating additives market size is expected to see strong growth in the next few years. It will grow to <b>$14.36 billion in 2028 at a compound annual growth rate (CAGR) of 8.9%. </b> The growth in the forecast period can be attributed to infrastructure development, automotive industry, rapid urbanization, increasing use of biodegradable additives, and emerging market growth. Major trends in the forecast period include architectural coatings innovation, customized additive solutions, technological advancements, innovative specialty coatings, and introduction of high-performance additives.
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Segmentation & Regional Insights
The coating additives market covered in this report is segmented –
1) By Type: Acrylics, Fluoropolymers, Urethanes, Metallic Additive, Other Types
2) By Function: Anti-foaming, Wetting & Dispersion, Rheology modification, Biocides, Impact Modification, Other Functions
3) By Application: Architectural Application, Automotive, Industrial Application, Wood & Furniture, Other Applications
<b>Asia-Pacific</b> was the largest region in the coating additives market in 2023. <b>Asia-Pacific</b> is expected to be the fastest-growing region in the forecast period. The regions covered in the coating additives market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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Major Driver Impacting Market Growth
The strong growth in buildings and the construction sector is driving the growth of the market. In the construction sector, coating additives are used to improve the viscosity, surface effectiveness, and impact resistance of substrates. The rapid growth in residential and commercial construction activities across the globe and the growing adoption of environmentally friendly additives to improve wall and roof installations while maintaining environmental impact. For instance, in March 2023, according to the United Stated Census Bureau, a US-based principal agency of the federal statistical system, the number of privately owned housing units approved by building permits in February was 1,524,000 on a seasonally adjusted yearly basis. This is 13.8% more than the January rate, which was corrected to 1,339,000. Thus, strong growth in the building and construction sector is expected to boost the coating additives market during the forecast period.
Key Industry Players
Major companies operating in the coating additives market include <b> Akzo Nobel NV, Allnex Netherlands BV, ANGUS Chemical Company, Arkema SA, Ashland Global Holdings Inc., BYK Additives & Instruments, Cabot Corporation, Clariant AG, Dow Chemical Co., Eastman Chemical Company, Elementis PLC, Evonik Industries AG, Ineos Group AG, Kamin LLC, Keim additec surface GMBH, Kyoeisha chemical co. ltd., Michelman Inc., Momentive Performance Materials Inc., Rhodia SA, Shamrock Technologies, Solvay SA, BASF SE, ADEKA Corporation, Allnex, Croda International plc, DIC Corporation, Emerald Performance Materials, King Industries Inc., Lubrizol Corporation, Michelman Inc., Munzing Chemie, AkzoNobel Specialty Chemicals, SI Group Inc., Specialty Polymers Inc., Synthomer plc </b>
The coating additives market report table of contents includes:
1. Executive Summary
2.Coating Additives Market Characteristics
3.Coating Additives Market Trends And Strategies
4.Coating Additives market analysis
5.Coating Additives Market Size And Growth
6.Coating Additives Segmentation
7.Coating Additives Regional And Country Analysis
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27.Coating Additives Competitive Landscape And Company Profiles
28.Coating Additives Key Mergers And Acquisitions
29.Coating Additives Future Outlook and Potential Analysis
TOP MAJOR PLAYERS:
- Akzo Nobel NV
- Allnex Netherlands BV
- ANGUS Chemical Company
- Arkema SA
- Ashland Global Holdings Inc.
- BYK Additives & Instruments
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