Selbyville, Delaware , Feb. 04, 2024 (GLOBE NEWSWIRE) -- Global Coating Additives Market is anticipated to reach USD 17.5 billion by 2032, as per a recent study by Global Market Insights Inc.
According to the report, technological advancements, continuous research and development, and frequent new product launches will accelerate business growth over 2024–2032. Companies in this field are introducing innovative solutions, improving performance, and meeting evolving consumer needs. As technology evolves and manufacturers invest in R&D, the coating additives market will expand, driven by a dynamic landscape of cutting-edge products and enhanced formulations.
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For instance, in 2023, Gerdau Graphene unveiled NanoDUR and NanoLAV, proprietary additives designed for water-based paints and coatings. Utilizing G2D technology and graphene nanoplatelets, these additives enhance performance without impacting pH levels. Their commercial availability marks a significant advancement in catering to specific industry requirements. The launch fortifies the coating additives industry by offering innovative solutions that enhance performance without compromising pH levels.
Solvent-based coatings to experience a surge in popularity
The coating additives market size from the solvent-based coatings segment will witness a substantial upswing by 2032, driven by the segment's widespread application across diverse industries, including automotive, construction, and manufacturing. The solvent-based formulations offer robust performance and versatility, driving their preference. As industries prioritize durability and quality, the solvent-based coatings segment will emerge as a key driver, reflecting the market's inclination toward solutions that provide both efficacy and adaptability.
Industrial coatings to remain a major application segment
The industrial coatings segment will gain a considerable coating additives market share by 2032, fueled by burgeoning demand across diverse sectors. Industries such as manufacturing, automotive, and aerospace prioritize industrial coatings for their protective and aesthetic qualities. The robust growth in these sectors, in line with continuous advancements in coating technologies, will position the industrial coatings segment as a key player in shaping the market's landscape and meeting evolving industry needs.
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Asia Pacific to lead the coating additives market
Asia-Pacific coating additives industry will register a notable CAGR from 2024 to 2032, attributed to industrial expansion and heightened construction activities, which foster a burgeoning demand for advanced coating solutions. Additionally, robust growth in the automotive and packaging sectors will further strengthen APAC's market dominance. This trajectory will underscore the region's pivotal role in shaping the global landscape of coating additives, reflecting a confluence of economic prowess and industry evolution.
Coating Additives Market Players
Major players in the coating additives industry include BASF SE, Dow, Inc., Evonik Industries AG, Solvay S.A., Arkema Group, Akzo Nobel N.V., Elementis PLC, Lubrizol Corporation, Eastman Chemical Company, Croda International PLC, BYK Additives & Instruments, Clariant AG, Michelman, Inc., Wacker Chemie AG, and Huntsman Corporation, among others.
Companies are strategically expanding their market share through innovative product offerings and strategic collaborations. By investing in research and development, these industry leaders are introducing cutting-edge additives that cater to evolving consumer needs. Moreover, partnerships and mergers with regional distributors enhance market penetration. This proactive approach will position these players to capitalize on emerging opportunities, solidify their foothold, and foster sustained growth in the competitive coating additives industry.
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About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
