Paint Additives Market 2023: Akzo Nobel NV, Arkema SA, Ashland Global Holdings, Inc., BASF SE, BYK-Chemie GmbH, Asahi Glass Co., Ltd., Dow Chemical, Evonik Industries AG, Arch Chemicals

Global Paint Additives Market Information: By Product Type (Rheology Modifiers, Biocides), Application (Architectural, Industrial, Automotive, Industrial, Wood & Furniture), Region: Forecast Till 2023

Paint additives are special ingredients used for enhancing the functional performance and the quality of the paints. These additives modify the viscosity, impact resistance, anti-chipping, foam reduction, and gloss control in paints and thereby increase the efficiency. The global paint additive market is estimated to grow at a CAGR of over 6.4% during the assessment period, 2018–2023.

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The global paint additives market is mainly driven by the growing demand from the industrial and architectural segments. Moreover, the growth in the global paint and coating industry directly affects the demand for paint additives. Paints and coatings are extensively used in various industries ranging from oil and gas to automotive. Furthermore, growing inclination to green paint is a major opportunity for the market and is expected to generate a substantial revenue during the review period. However, strict environmental regulations regarding the VOC content in paints is expected hinder the growth of the global market.

On the basis of product type, rheological additives are projected to hold the highest market share during the assessment period as result of growing adoption of these additives in automobile and building & construction sectors. Among the various application segment, the architectural segment is projected to lead the global market during the forecast period.

Regional Analysis

Asia Pacific was the largest market for paint additives in 2017 due to increasing construction and automobile industries in the region. Moreover, expanding GDP in the region has added extra purchasing power to the population in the region, which, in turn, is fueling the demand for paint additives in the architectural segment. Furthermore, the growing population in the region has augmented the government spending on construction activities, which is also positively contributing to the revenue of the market.

North America is the prominent region in the global paint additives market as a result of increasing consumption of paint additives in the building and construction and automobile industries. Additionally, the presence of major paint & coating manufacturers in the region and increased government spending on renovation and construction of commercial and residential buildings, especially in Canada is boosting the growth of the regional market.

Europe is likely to witness a significant growth during the review period as result of reviving industrial sector in this region. Additionally, the presence of major automobile manufacturing industries in the region is adding fuel to the demand for paint additives. However, the presence of stringent government regulations in the region may slow the market growth to some extent during the coming years.

The Middle East and Africa are likely to witness a moderate growth during the assessment period on account of growing automotive and construction industries. The growing construction activities in the region owing to the FIFA World CupTM 2022 are likely to drive the demand for paint additives.

Segmentation

The global paint additives market is segmented into type, application, and region. On the basis of the product type, the market is segregated into rheology modifiers, biocides, anti-foamers, wetting and dispersion agents, and others. On the basis of the application, the market is further segregated into architectural, industrial, wood and furniture, automotive and others. Based on the region, the market is segregated into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

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Key Players

Some of the prominent players operating in the global paint additives market are Akzo Nobel NV, Arkema SA, Ashland Global Holdings, Inc., BASF SE, BYK-Chemie GmbH, Asahi Glass Co., Ltd., Dow Chemical, Evonik Industries AG, Arch Chemicals, Lonza Group AG, and Daikin Industries, Ltd.

Intended Audience

Paint additives manufacturers
Traders and distributors of paint additives
Research and development institutes
Potential investors
Raw material suppliers
Nationalized laboratory

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