Coating Additives Market Fundamentals and Forecast Analysis 2023-2031

The global coating additives market size was US$ 9.5 billion in 2021. The global coating additives market size is forecast to reach US$ 15.2 billion by 2030, growing at a compound annual growth rate (CAGR) of 5.7% during the forecast period from 2022 to 2030.

Coatings with technologically advanced formulas are complex, incorporating thickeners, emulsifiers, dispersants, pigments, defoamers, levelers, photo-stabilizers, curing catalysts, and other additives. Adding these additives to resin improves its properties. An anti-foaming procedure reduces or prevents foam formation on paint films and coatings. Dispersion and wetting use the deflocculating effect to stabilize films.

Rheology modification is a method for altering the structure or flow of materials due to external stress to increase the thickness and viscosity of coated surfaces. The biocide protects paint films from microbiological degradation, such as fungal and algal growth due to humid environments or contamination. Using impact modification, sheets, packing films, and other materials are less likely to deform on the surface.

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Factors Influencing Market GrowthA coating additive is added to paints to help improve dispersion of solids, wetting, foam reduction, gloss control, anti-chipping, and UV protection. A coating additive also helps surfaces cope with higher temperatures, abrasion, moisture, biocides, and chemical resistance. These properties drive the global market for coating additives.

Growing demand from the automotive, construction & building industries will fuel market growth over the forecast period.

Regulations targeted at reducing the Volatile Organic Compounds (VOC) content of coating additives to reduce environmental issues may have a negative impact on the global coating additives market during the forecast period.

Impact Analysis of COVID-19

The COVID-19 pandemic has negatively impacted manufacturing and industrial sectors worldwide due to a scarcity of resources. Coating additives mainly appear in the automotive, industrial, and architectural industries.

In many countries, the economy has slowed due to the suspension of several industries, especially the transport and supply chains. Due to the lockdown, there has been no product development, which has affected the demand of the global market.

Regional Insights

As of 2020, Asia-Pacific held the largest share of the coating additives market. The Asia-Pacific coating additives market is forecast to grow at the highest CAGR both in terms of volume and value. Due to the stable economy, rising disposable income, and improving quality of life in places such as China, Japan, Singapore, Malaysia, and Vietnam.

A major reason for this growth is the increased capability to spend on infrastructure. The Asia Pacific market for coating additives is also growing due to the increasing production of coating additives in countries such as China and India.

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Leading Competitors

The leading prominent companies profiled in the global coating additives market are:

Arkema
BASF
BYK Additives & Instruments
Clariant
Dow Chemical Co.
Eastman Chemical Co.
Evonik, Lanxess
Momentive Performance Materials Incorporated
Solvay
Lanxess
Elementis PLC
The Lubrizol Corporation
Michelman, Incorporated
Croda International Plc
Cytec Industries Incorporated
Other Prominent Players

Scope of the Report

The global coating additives market segmentation focuses on Function, Type, Formulation, End-Use Industry, and Region.

Segmentation based on Function

Anti-foaming
Wetting & Dispersion
Rheology modification
Biocides
Impact Modification
Others

Segmentation based on Type

Acrylic
Fluoropolymers
Urethanes
Metallic Additives
Others

Segmentation based on Formulation

Water-borne Coating
Solvent-borne Coating
Wax
Lubricants
Others
Solventless Coating
Powder Coating
Radiation Curable Coating

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Segmentation based on End-Use Industry

Architectural
Industrial
Automotive
Wood & Furniture
Others

Segmentation based on Region

North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America

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