According to a newly published report by Fior Markets, the global Coatings Additives market is anticipated to see growth from USD 7.46 billion in 2017 to USD 12.34 billion in 2025 at a CAGR of 6.49% during the forecast period from 2018-2025. In the Asia Pacific region, there is unabated demand from housing, construction and wood, and furniture industry segments of the global coatings additives market. Due to these features, the Asia Pacific region registered the highest growth rate in terms of volume.
“Global Coatings Additives market by Formulation (Solvent-borne, Water-borne, and Powder based), Type (Acrylics, Fluoropolymers, Urethanes, Metallic Additive, Others), Function, Application”, and Global Forecast 2018-2025.
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Important players in coating additives markets are Evonik Industries, AkzoNobel NV, BASF AG, Arkema SA, BYK- Chemie GmbH, Eastman Chemicals, Dow Chemical Company Lubrizol Corporation some others. The key factors led to the growth in demand for coating additives includes the increasing demand from the fields of architecture, industries, automobile, and wood & furniture industries due to increased spending on housing and infrastructure as well as unabated demand for automobiles.
The formulation type is sub-segmented into Solvent-borne, Water-borne and Powder based. Water borne formulations type segment is expected to see continuous demand for coating additives on account of its ecofriendly and easy application process. Europe and North America have banned Solvent borne formulations which contains the property of emmiting toxic fumes, therefore, it’s getting phased out from the regions. The type segment is divided on the basis of Acrylics, Fluoropolymers, Urethanes, Metallic Additive, and Others. Fluoropolymers and metallic additives for coatings are expected to maintain its grip on the market are register highest growth rate at a CAGR of 8.43% with respect to other types during the forecast period on account its properties of chemicals, abrasion, temperature, and corrosion resistance. The Coating Additives by function is classified into Rheology Modification, Biocides Impact Modification, Anti-Foaming, Wetting & Dispersion and Others. Rheology modification function would become head of the coating additives market during the forecast with projection to achieve 42.51% of total market revenue in 2025. Rheology modification function provides better finishing to the coating surface and this is a key growth factor. Biocides Impact Modification segment is predicted to see achieve significant market share on account of its property protecting paint films against microbial damage. Applications Segment includes architectural, automotive, industrial, wood & furniture and others. Demand for protective paints for constructed structures in developing economies is expected to achieve USD 2.90 billion in 2025 by boosting application segment.
The demand for Coatings and paints in general and Coating additives, in particular, got a major boost from increased spending on infrastructure and housing development in developing economies of Asia Pacific. Development of new coating additives with better abrasion, corrosion, liquid, chemical resistance is further expected to make a market for coating additives larger. Supply-side bottlenecks, as well as volatility in crude oil price, are also the key driving factors of the market growth.
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