Coating Additives Market worth $10.5 billion by 2028 | Key players Evonik Industries AG(Germany), ALTANA AG(Germany), BASF SE(Germany), Dow Inc. (US).

According to recent market research the "Coating Additives Market by Type (defoamers, wetting & dispersing agents, rheology modifiers), Formulation (water-borne, solvent-borne), Application (architectural, industrial, automotive & transportation, wood & furniture), Region - Global Forecast to 2028", size was USD 8.3 billion in 2023 to USD 10.5 billion by 2028, at a CAGR of 4.7% from 2023 to 2028. Coating additives encompass chemical compounds or substances strategically integrated into coatings and paints to enhance their properties, performance, and application characteristics. These additives are instrumental components within coating formulations, tailored to accomplish specific objectives and overcome challenges related to coating application and usage. They play a pivotal role in elevating the quality, durability, appearance, and functionality of coatings across a multitude of industries and applications. Among coating additives, rheology modifiers emerge as the largest category. They hold a critical role in enhancing the overall performance and application attributes of coatings. Rheology modifiers effectively manage the viscosity of coatings, simplifying the application process, preventing drooping, or sagging, and ensuring consistent coverage.

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In response to stringent environmental regulations and a growing focus on sustainability, there has been a notable shift towards the adoption of water-based coatings in the region. Within this evolving landscape, rheology modifiers play a pivotal role in ensuring the stability and performance of water-based formulations, aligning with these regulatory shifts. Various chemistries of rheology modifiers find application in paints and coatings, including but not limited to cellulosic, specialty clay, organoclays, hydrogenated castor oils, fumed silicas, polyamides, and over based sulphonates, among others. Among these, rheology modifiers claim the largest market share, driven by their exceptional attributes such as viscosity control, stability in preventing pigment and solid particle settling, facilitation of coating flow and levelling, and the introduction of thixotropic qualities to coatings.

Water-borne coating additives find widespread use in applications where environmental concerns and the imperative of low Volatile Organic Compound (VOC) emissions take precedence. These applications span various sectors, including architectural, automotive & transportation, wood & furniture, and packaging coatings. These specialized formulations are meticulously crafted to yield a stable mixture that can be efficiently applied to surfaces, resulting in the creation of protective and aesthetically appealing coatings. These coatings are characterized by desirable attributes such as strong adhesion, durability, and an appealing appearance. It's worth noting that the demand for water-borne coating additives has been substantial, commanding a significant portion of the global coating additives market share, primarily due to their environmental advantages and versatility in diverse applications.

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Asia-Pacific is anticipated to achieve the highest CAGR in this market, primarily driven by several key factors. Firstly, the region boasts the presence of significant market players, and it experiences substantial demand from vital end-use industries like automotive, architectural, and wood & furniture.

Asia-Pacific, marked by its rapid development, represents a promising arena for various industry participants. A noteworthy trend is the strategic relocation of production facilities by leading players from North America and Europe to this region. This strategic shift is motivated by factors such as the availability of cost-effective raw materials, reduced production costs, and the imperative to better serve local markets.

The key market players identified in the report Evonik Industries AG(Germany), ALTANA AG(Germany), BASF SE(Germany), Dow Inc. (US), Nouryon(Netherlands), Arkema S.A.(France), ELEMENTIS PLC(UK), Allnex GMBH(Germany), Arkema S.A.(France), Eastman Chemical Company(US), and Ashland Inc.(US).

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The Asia-Pacific market has tremendous opportunities for coating additives and their use in different applications. This region has emerged to be the driving factor for this market, contributing to more than 40% of the global demand in 2012. U.S. is the global market leader in the consumption of coating additives, which is expected to be taken over by China by 2018, due to the increasing demand from its construction, industrial, and automotive sectors. The other emerging economies such as Brazil, the Middle East, Russia, India, etc. are further lined up for the brighter future in this market. The company such as Dow Corning, headquartered at U.S., aims to increase its presence in the Middle East market, particularly in Saudi Arabia, U.A.E, and Kuwait, etc., by extending its distribution agreement with a U.S.-based distribution company in the region.

Through their organic growth strategies of expansion and new product developments, the companies are opting to expand their coating additives business, worldwide. The major companies operating in this market, such as BYK-Chemie, BASF and Evonik located in Germany; U.S.-based Dow Chemical, Ashland; Akzo Nobel (The Netherlands) and Arkema (France), are engaged in bringing innovations in their products as well as enhancing their penetration in the global coating additives market.

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