Press release
Coatings additive market was estimated to be worth $7.23 billion in 2015 and is expected to reach $9.9 billion by 2020, growing at a CAGR of 6.5%
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The global coatings additive market was estimated to be worth $7.23 billion in 2015 and is expected to reach $9.9 billion by 2020, growing at a CAGR of 6.5%. The Asia-Pacific and North America dominated the global coating additives market demand in 2015. Asia-Pacific is expected to remain the largest market in the near future, owing to increasing demand from key countries such as China and India.
The role of coating additives starts right from the formulation of the coating, which plays a very important role in the entire value chain of the coating. The value chain of coating additives market involves a group of interdependent activities performed by various industries. This consists of raw material suppliers, coating additive manufacturers, formulators, and end-user applications, with logistics and supply chain management linking all of them into one group. The feedstock suppliers are the companies which supply raw materials such as urethanes, fluoropolymers, acrylates, or silicones.
The global coating additives market is witnessing growth on the account of increasing applications, and rapidly growing demand in the Asia-Pacific region. They are widely being used in coating application in the construction, automobiles, and wood & furniture industries. The typical uses of these additives are to improve wettability, dispersing of solids, foam reduction, gloss control, anti-catering, anti-chipping, flow control, and UV protection, etc. of the coating material. The specific application of coatings may require the protection of coated substrate from chemicals, high temperature, abrasion, impact, moisture, biocides, etc. during the service life of the material.
The main drivers for the growth of coating additives market are the growing building & construction and automotive industries. This huge demand for coating additives from the building & construction industry is due to an increase in the demand for better and superior quality surfaces. Residential and commercial buildings are the leading end-users for coating additives and are likely to gain higher market share in the near future owing to increased construction activities, particularly in Asia Pacific, Eastern Europe and Latin America.
Asia-Pacific has registered a strong demand for coating additives, and this trend is expected to continue in the near future, driven by China and India. The high demand from the Middle East region is due to a large investment in its construction sector. Market participants are focusing on the Asia-Pacific and Middle East & Africa (Rest of the World) regions to gain market share and improve profitability.
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Market Dynamics of the Global Coatings Additive Market:
Drivers:
The rapid economic growth in most of the emerging countries in the recent years resulting in rampant architectural construction and industrial activity, which created a significant demand for paints and additives that, in turn, increased the demand for paint additives. As the paint and coatings industry continues to fall under pressure from environmental regulations, manufacturers of coatings and paints are endlessly reformulating their products, resulting in the demand for novel additives continues to increase, and the growing shift toward water-based paint systems are fueling demand for paint and coating additives, providing tremendous growth potential for additives suppliers.
Restraints
Environmental regulations associated with the harmful effects of VOCs are expected to be a major restraint for the coatings additive market.
The report elucidates the situation of coatings additive around the world and studies the market by end-user industry (automotive, wood & furniture, architecture, and others), by type (acrylic, urethane and fluoropolymers, and others), and by function (rheology modification, biocidic, wetting & dispersing, anti-foaming and impact modification).
The global coatings additive market report divides the market by geography into North America, Europe, the Asia-Pacific (APAC), South America and Middle-East & Africa (MEA); where-in the market share of each region is analyzed and estimates are provided for the next 5 years.
The key market players profiled in the coatings additive market report include:
AkzoNobel
Arkema
BASF
BYK-Chemie GMBH
Cabot Corporation
Dynea AS
Eastman Chemical Company
Evonik Industries AG
Key Deliverables in the Study
Analysis for the global coatings additive market, with region specific assessments and competition analysis on a global and regional scale.
Market definition along with the identification of key drivers and restraints.
Identification of factors instrumental in changing the market scenario, rising prospective opportunities, and identification of key companies that can influence this market on a global and regional scale.
Extensively researched competitive landscape section with profiles of major companies along with their market share.
Identification and analysis of the macro and micro factors that affect the global coatings additive market on both global and regional scale.
A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.
A wide-ranging knowledge and insights about the major players in this industry and the key strategies adopted by them to sustain and grow in the studied market.
Insights on the major countries/regions where this industry is blooming and to also identify the regions that are still untapped.
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