Dublin, Jan. 29, 2024 (GLOBE NEWSWIRE) -- The "Coating Additives Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2031 - By Product, Technology, Grade, Application, End-user, Region" report has been added to ResearchAndMarkets.com's offering.
The global coating additives market is forecast to be valued at over US$ 10 billion in 2024. Projections indicate that the market is set to achieve a remarkable growth from 2024 to 2031, reaching a substantial market valuation of US$ 16 billion by the end of the forecast period.
Key Drivers of Coating Additives Market Growth
Advent of Green Coatings
Coating additives are essential solutions incorporated into paints to enhance their performance and quality. With advancements in coating additives technology, these solutions play a pivotal role in improving product attributes and addressing issues encountered during paint formulation and manufacturing. The global coating additives market is poised for significant growth as the industry responds to the need for zero-VOC emissions. Governments worldwide are intensifying efforts to reduce carbon emissions from construction operations, leading to the emergence of green coatings that are expected to create revenue opportunities in the coating additives market.
Booming Building & Construction Sector
The thriving building and construction sector on a global scale is a major catalyst driving the coating additives market. These additives are utilized in construction to enhance viscosity, surface effectiveness, and impact strength of substrates. With rapid expansion in commercial and residential construction activities worldwide, coupled with the increasing use of eco-friendly additives to improve roof and wall installations while minimizing environmental impact, the global coating additives market is on an upward trajectory.
Regional Analysis
United States Leading in North America
North America is positioned to dominate the global coating additives market during the forecast period. The United States, in particular, is expected to be the largest revenue generator within the North American market. The coatings industry plays a vital role in the American economy, with a network of top coating additives manufacturers, raw material suppliers, coating additives suppliers, and distributors. The presence of approximately 1,000 businesses operating in nearly 1,200 locations highlights the industry's significance. The construction sector's substantial contribution to the American economy, driven by increasing residential investments, is anticipated to bolster the growth of the coating additives market in the United States.
Product Analysis
Versatile Coating Additives
Coating additives serve to enhance the quality and performance of paints and coatings, improving attributes such as dispersion of solids, wetting, foam reduction, anti-catering, gloss control, anti-chipping, UV protection, and more. These additives come in various types, including acrylics, urethanes, fluoropolymers, and metallics. Acrylic additives lead the product type category, followed by urethanes and metallic additives. Coating additives are crucial for surfaces to withstand higher temperatures, abrasion, moisture, biocides, and chemical resistance.
Based on formulations, the coating additives market is segmented into water-borne, solvent-borne, and powder-based coatings. Water-borne coatings have gained popularity due to their lower VOC content, with solvent-borne coatings losing favor due to environmental concerns. The significant demand for coating additives stems from various sectors, including building & construction, automotive, wood & furniture, industrial engineering, and aviation.
Leading Companies in the Coating Additives Market
- Akzo Nobel N.V.
- Arkema SA
- Ashland Inc.
- BASF SE
- Cytec Industries Inc.
- Evonik Industries AG
- Momentive Specialty Chemical Inc.
- Solvay S.A.
- The Dow Chemical Company
Coating Additives Industry Research Segmentation
By Type:
- Acrylics
- Fluoropolymers
- Urethanes
- Metallic Additives
- Others (epoxy, Polyalkyds, Amines)
By Function:
- Rheology Modification
- Biocides Impact Modification
- Anti-Foaming
- Wetting & Dispersion
- Others (Slip & Rub, Flexibility, Curing, etc.)
By Formulation:
- Solvent-borne
- Water-borne
- Powder-based
For more information about this report visit https://www.researchandmarkets.com/r/r9irs4
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