The Coating Additives Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Coating Additives Global Market Report 2024, The coating additives market size has grown strongly in recent years. It will grow from $9.36 billion in 2023 to $10.22 billion in 2024 at a compound annual growth rate (CAGR) of 9.2%. 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 $14.36 billion in 2028 at a compound annual growth rate (CAGR) of 8.9%. 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.
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.
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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
The company’s investment in R&D (research and development) is the key trend gaining popularity in the coating additives market. Companies operating in the coating additives market are increasing investments in R&D and initiatives to develop technologically advanced products to meet demand from various end-user industries across the globe. For example, in June 2021, BASF, a multinational chemical company, invested in a new R&D centre in Japan for the development and production of new products. This R&D center was established to get global R&D expertise and local R&D flexibility to provide the best solutions.
The coating additives market report table of contents includes:
- Executive Summary
- Coating Additives Market Characteristics
- Coating Additives Market Trends And Strategies
- Coating Additives Market – Macro Economic Scenario
- Global Coating Additives Market Size and Growth
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- Global Coating Additives Market Competitive Benchmarking
- Global Coating Additives Market Competitive Dashboard
- Key Mergers And Acquisitions In The Coating Additives Market
- Coating Additives Market Future Outlook and Potential Analysis
- Appendix
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