Coating Additives Market: Green additives to outperform their traditional counterparts in the long run

Coating Additives Market was valued at US$ 10.15 Bn. in 2022 and the total Coating Additives revenue is expected to grow at 5.8% from 2023 to 2029, reaching nearly US$ 15.06 Bn.
Coating Additives Market Overview:
Paints and varnishes are coatings that have the dual purpose of protecting the substrate and being decorative, though some paints are only for decoration, and the paint on large industrial pipes is for corrosion prevention and identification, e.g. blue for feed water, red for fire-fighting control, and so on. Functional coatings can be used to modify the surface attributes of a substrate, such as adhesion, wettability, corrosion resistance, and wear resistance. In other circumstances, such as semiconductor device production (when the substrate is a wafer), the coating adds an entirely new attribute, such as magnetic response or electrical conductivity, and is a fundamental aspect of the end product.

Coating additives are a vast and diverse group of critical components in the coating composition. They make up a little portion of that composition, often less than 5%, but their influence is enormous. An additive function is almost always very specific. Some additives serve dual functions; for example, they may be vital to both the production process and the performance of the coating. Multi-purpose additives have been created for various end-uses, enabling the use of fewer chemicals in many formulations.
Coating Additives Market Report Scope:
The Coating Additives market is segmented based on Function, Type, Formulation, End-Use Industry, and Region. The growth of various segments helps report users in acquiring knowledge of the many growth factors expected to be prevalent throughout the market and develop different strategies to help identify core application areas and the gap in the target market. The report provides an in-depth analysis of the market and contains meaningful insights, facts, historical data, and statistically supported and industry-validated market statistics. It also includes estimates based on an appropriate set of assumptions and methodologies.

A bottom-up approach has been used to estimate the market size. Key Players in the Coating Additives market are identified through secondary research and their market revenues are determined through primary and secondary research. Secondary research included a review of annual and financial reports of leading manufacturers, while primary research included interviews with important opinion leaders and industry experts such as skilled front-line personnel, entrepreneurs, and marketing professionals. Some of the leading key players in the global Coating Additives market include Solvay, Lord Corporation, DSM, and Jotun A/S.

The report is not only a representation of global players but also covers the market holding of local players in each country. Market structure by country with market holding by market leaders, market followers, and local players make this report a comprehensive and insightful industry outlook. The report has covered the mergers and acquisitions, strategic alliances, joint ventures, and partnerships happening in the market by region, by investment, and their strategic intent.To know about the Research Methodology :- Request Free Sample Report
Coating Additives Market Dynamics:
The emergence of custom coatings:

The emphasis on green technologies, cheaper costs, and safer goods has resulted in the development of innovative additives and compounds. The Coating Additives industry expects green additives to perform as well as or better than their traditional equivalents, and to combine performance, sustainability, and efficiency with reduced costs. With so many additives available for a specific condition, formulators may encounter problems if the wrong addition is first picked or applied to alleviate or rectify a problem. Correct additive selection is critical to success, which may be accomplished through vendor help or years of expertise.

Growing demand from the Construction Industry for Water-Based Coatings to drive Coating Additives Market

The growing need for water-based paints and coatings in the construction sector presents a growth opportunity for the additives sector. During the forecast period, water-based coatings are likely to lead the Coating Additives market. Environmental laws have resulted in a significant transition away from solvent-based solutions and toward water-based materials for architectural and industrial uses, particularly in North America and Europe. Water-based paints and coatings do not generate cleaning solvents, which reduces hazardous waste creation and VOC emissions during the end-use, making them less toxic to humans and animals. As a result, its increasing acceptance is expected to offer growth prospects for the coatings additives market.

Growing Demand for Additives from the Paints Industry:

Paint and coating additives are primarily used to improve paint and coating performance and to provide surface protection. The increased usage of these commodities for construction projects is expected to have a significant impact on Coating Additives market growth. Paint and coating additives are utilized in construction projects as thickeners, emulsifiers, dispersants, deformers, leveling agents, photo-stabilizers, and curing catalysts.

They protect construction and infrastructure substrates from corrosion, boost substrate durability, and extend the shelf life of coatings. Paints and coatings production is expected to be high due to its escalating applications in automotive, aerospace, equipment production, and consumer durables, which contribute to an increase in demand for additives. Furthermore, the growing residential sector in the Asia Pacific region, as well as the rising need for multifunctional additives in paints, are likely to drive Coating Additives market growth.

Strictly enforced regulations of solvent-based paints and coatings limit the use of additives:

The use of additives is limited due to the tight rules imposed by many governments and associations regarding the use of solvent-based paints and coatings containing volatile organic compounds. These restrictions are intended for both manufacturers and users of paints and coatings. For example, the United States Environmental Protection Agency (EPA) has established VOC rules under the National Volatile Organic Compound Emission Standards for Consumer and Commercial Products.

Rising health concerns and rigid VOC content rules in various locations have compelled Coating Additives manufacturers to lower VOC content in paints and coatings. Also, many environmental requirements have resulted in a rapid transition toward greener structures. These factors are expected to further reduce the usage of solvent-based goods, slowing Coating Additives market growth.
Coating Additives Market Segment Analysis:
By Formulation, the water-borne coating segment is expected to grow at a CAGR of 6.2% during the forecast period. As people become more conscious of the adverse consequences of VOC emissions, there has been a steady change in demand from solvent-borne coatings to more environmentally friendly solutions such as waterborne coatings, which contain fewer solvents that evaporate during the curing process.

The Asia Pacific region is expected to be the largest and fastest-growing market for waterborne coatings. The growth can be linked to the region's constantly growing automobile and construction sectors. Regulations that are less severe in the region are also driving the market growth. Also, government restrictions in the United States and Western Europe, particularly regarding air pollution, are expected to push the use of new, low-polluting coating technologies creating growth prospects for the sustainable coating additives market.

Waterborne coatings require longer drying and cure times than solvent-borne coatings. Waterborne coatings have good flow characteristics that fluctuate with humidity, influencing coating application. Water does not easily evaporate in high humidity circumstances, resulting in poor cure and decreased effectiveness. Waterborne coatings are likewise susceptible to freezing temperatures, and many are rendered ineffective after freezing. These characteristics are expected to hinder coating additives market growth.

Emerging economies are investing heavily in infrastructure and other long-term initiatives. The Asia Pacific market, particularly in China and India, is providing considerable prospects for resin and waterborne coating producers. The growing income and spending power of the public in the Asia Pacific and other growing regions are driving up investment in the building, vehicle, electrical and electronics, consumer goods, and appliances industries. Waterborne coating additive manufacturers may benefit from the economic boom of developing economies such as China, India, Russia, and Brazil, which are investing heavily in the construction, automotive, electrical, and other sectors.

Because of its strong chemical resistance, stain resistance, fracture resistance, and blistering resistance, the acrylic additive is widely utilized in waterborne coatings. Asia Pacific is the largest and fastest-growing waterborne acrylic coatings market. Acrylic resins are likely to be in great demand throughout Southeast Asia for building applications. In China, on the other hand, demand for waterborne acrylic basecoats for vehicles has been progressively improving as certain OEMs have begun to use waterborne coatings in their new product lines.
Coating Additives Market Regional Insights:
Asia-Pacific had the greatest market share of 35% in 2022 and is expected to dominate the market by 2029. This is due to increased demand for paints and coatings from, the automotive, furniture, and industrial sectors. According to the American Coatings Association, Asia Pacific was the largest region in the manufacturing of paints and coatings in 2018, accounting for around 47% of the market. The booming construction sector is a significant driver of the market in this area. Because of the increased demand for paints from the building industry in these nations, China, Japan, and India are the primary countries contributing to regional market growth.

The Europe coating additive market is expected to grow at a CAGR of 4.8% during the forecast period. The rising demand for paints and coatings from industrial and automotive applications would help drive the market in the region. Also, the usage of paints for the decoration of buildings and infrastructure is a driving force in the European market. The market in North America is expected to grow at a rapid pace. The United States is a key consumer of paints and coatings for automotive and construction applications, which aid the coating additives demands.

The strong demand for paints and coatings from architectural and industrial applications is a prominent driver impacting market growth in South America, the Middle East, and Africa. These additives are commonly utilized in these regions to protect surfaces from fluctuating temperatures and environmental conditions. Rising demand for surface protection agents is expected to drive market growth throughout the forecast period.

The primary producers of paints and coatings additives are located around the world, resulting in a diverse market. The manufacturers in North America and Europe intend to expand their presence in China and other Asia Pacific nations to boost their market positions and drive their business growth. Key market competitors are concentrating their efforts on establishing a strong regional presence, expanding distribution channels, and improving product offerings.
Coating Additives Market Scope: Inquire before Buying



Coating Additives Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2017 to 2022
Market Size in 2022:
US $ 10.15 Bn.


Forecast Period 2023 to 2029 CAGR:
5.8%
Market Size in 2029:
US $ 15.06 Bn.


 Segments Covered:
by Function
Anti-foaming
Wetting & Dispersion
Rheology modification
Biocides
Impact Modification
Others


by Type
Acrylic
Fluoropolymers
Urethanes
Metallic Additives
Others


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


by End-Use Industry
Architectural
Industrial
Automotive
Wood & Furniture
Others



Coating Additives Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria, Turkey, Russia and Rest of Europe)
Asia Pacific (China, India, Japan, South Korea, Australia, ASEAN and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina, Columbia and Rest of South America)
Coating Additives Market, Key Players are
1. Solvay
2. Lord Corporation
3. DSM
4. Jotun A/S
5. Eastman Chemical Company
6. Clariant AG
7. Cabot Corporation
8. Rhodia SA
9. Double Bond Chemical Ind. Co Ltd.
10. Dynea as
11. Kenrich petrochemicals
12. Berger paints
13. Beckers Group
14. Arkema SA
15. KCC paint
16. Nippon Paint
17. Kansai Paint
18. PPG Industries
19. BASF SE

FAQs:

1. Which region is expected to dominate the Coating Additives Market at the end of the forecast period?
Ans. Asia Pacific is expected to dominate the Coating Additives market at the end of the forecast period.

2. What is the growth rate of the APAC Coating Additives Market?
Ans. The Asia Pacific Coating Additives Market is expected to grow at a CAGR of 7.1% during the forecast period.

3. What is expected to drive the growth of the Coating Additives Market in the forecast period?
Ans. Growing demand from the Construction Industry for Water-Based Coatings.

4. What is the projected market size & growth rate of the Coating Additives Market?
Ans. Coating Additives Market was valued at US$ 10.15 Bn. in 2022 and the total Coating Additives revenue is expected to grow at 5.8% from 2023 to 2029, reaching nearly US$ 15.06 Bn.

5. What segments are covered in the Coating Additives Market report?
Ans. The segments covered are Function, Type, Formulation, End-Use Industry, and Region.