Dublin, Sept. 07, 2023 (GLOBE NEWSWIRE) -- The "Coating Additives Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering.
The global coating additives market has demonstrated substantial growth, achieving a market size of US$ 9.8 Billion in 2022. The market is projected to further expand, reaching US$ 12.9 Billion by 2028, with a notable Compound Annual Growth Rate (CAGR) of 4.4% during the period from 2023 to 2028.
Enhancing Coating Performance
Coating additives are vital substances incorporated in small quantities into coating materials to enhance or modify specific properties during manufacturing, storage, transportation, or application. They encompass a range of components such as thickeners, emulsifiers, dispersants, pigments, defoamers, leveling agents, photo-stabilizers, and curing catalysts.
These additives contribute surface activity, vapor pressure, solubility parameters, and chemical stability to coatings. They also offer improved durability, enhanced aesthetic appeal, and resistance to corrosion, enhancing the overall texture and finish of coatings. This leads to their widespread utilization across industries such as architecture, automotive, and furniture.
Market Trends
The current market trends include a growing demand for environmentally friendly products and the increasing utilization of raw materials that enhance coating formulations. Furthermore, rising awareness among individuals about the benefits of coating additives is driving market growth. The demand for multifunctional additives to enhance combustion efficiency, reduce emissions, and carbon footprints is also on the rise.
Consumers' preference for durable and aesthetically pleasing finishes is creating opportunities for end-users. Rapid urbanization and construction of residential and commercial buildings are bolstering the need for coating additives. Additionally, increased vehicle renovations and the demand for attractive automotive coatings are driving market growth. The use of coating additives in decorative paints and advanced aerospace coatings is also growing. Other growth drivers include increased research and development activities and the booming construction industry.
Market Segmentation and Key Players
The global coating additives market is segmented by type, function, formulation, and application. Key types include acrylic, fluoropolymers, urethanes, metallic additives, and others. Functions encompass anti-foaming, wetting and dispersion, rheology modification, biocides, impact modification, and more. Formulations include water-borne, solvent-borne, solventless, and others. Applications span architectural, industrial, automotive, wood and furniture, among others.
Prominent players in the industry include Altana AG, Arkema S.A., Ashland Global, BASF SE, Clariant AG, Dow Inc., Eastman Chemical Company, Elementis plc, Evonik Industries AG, Huntsman Corporation, Momentive Performance Materials Inc., and Solvay S.A.
Key Questions Addressed in the Report
The comprehensive report provides insights into various aspects of the global coating additives market, including:
- Market size and growth projections for 2022 and 2023-2028
- Impact of COVID-19 on the market
- Factors driving market growth
- Breakdown by type, function, formulation, and application
- Profiles of major players in the industry
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 140 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value (USD) in 2022 | $9.8 Billion |
| Forecasted Market Value (USD) by 2028 | $12.9 Billion |
| Compound Annual Growth Rate | 4.7% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/w1euj9
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