Global Paints & Coatings Additives Market Expected to Grow At a CAGR of 6.1% During the Forecast Period
The latest market report published by Brisk Insights “Paints & Coatings Additives Market: Growth, Future Prospects, and Competitive Analysis, 2019 - 2027” the paints & coatings additives market was valued at US$ 7.43 Bn in 2018 and expected to grow at a CAGR of 6.1% during the forecast period from 2019 to 2027.
"Growing demand for additives from architectural and paint & coating industries worldwide will upgrade the market growth during the forecast period"
The paints & coating additives are largely used for performance enhancement along with surface protection. In addition, rising consumptions from construction industries will efficiently stimulate market growth on a global scale. Moreover, increasing the use of emulsifiers, thickeners, deformers, photo-stabilizers, dispersants, curing catalysts, and leveling agents in construction industries, is likely to expand the market for paint & coating additives. The additives also provide corrosion protection towards substrate such as buildings & infrastructures and increase the life span and substrate durability. Furthermore, the growing application of paints & coating in automotive, aerospace, construction, equipment manufacturing, and consumer durables will drive the demand for additives over the forecast period. Moreover, architectural industries are projected to drive the market, owing to the development of new additives coatings like “VINNAPAS® vinyl acetate/ethylene (VAE)”, “BECKOPOX® EH 2162”, and “ENCOR Flex 192”. Decoration and protection with high-quality paints are becoming progressively common for professional and residential construction, thereby expanding the market for additives across architectural industries.
"Rising environmental concerns and stringent government laws & policies against the harmful effects of paint & coating will enhance the market globally"
The stringent government regulations and policies for the harmful effects of paints and coating on the environment are fascinating market players in order to adopt eco-friendly additives that fulfill with the regional and international regulations. Additionally, the market players significantly invest in research and development (R&D) to the paint addictive market. The development of cost-effective solutions in order to avoid wide-scale use of volatile organic compounds will contribute towards market expansion in the coming years. Moreover, local and international governing agencies like the national institute for occupational safety and health (NIOSH), and European Union (EU) are regulating the use of paints and addictive is likely to expand the market growth. Furthermore, laws and regulations permit production units to avoid vulnerabilities of adverse physical and chemical effects along with provides guidelines for storage equipment and material handling. However, paint and coatings firms held increasingly accountable for the adverse effect of products and their processes on the environment. On account of these growing concerns from numerous companies, led a slew of new initiatives towards environmental improvements along with continued improvement in environmentally friendly products.
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• In January 2017, Evonik has acquired for performance material division of Air Products in order to expand its portfolio of substrate wetting additives.
• In December 2018, Elementis announced the acquisition of a production facility for around US$ 4 million in Mumbai, India, which will aid the coatings, personal care, and energy markets globally.
Key Market Movements:
• Globally, the sludge treatment chemicals market is rising at a CAGR of 6.1% for the estimated period from 2019 to 2027.
• the Asia Pacific to holds the largest market share for the paints & coating additives market over the forecast period. Additionally, increasing demand from numerous industries like automotive, furniture, industrial, etc., growing demand from construction industries, and the presence of developing countries like China, Japan, and India will expand the market growth across the region.
• Europe is likely to witness substantial growth in the paints & coating additives market in between 2019-2027. The tenacious rise in automotive and industrial applications, growing demand for decoration of building and infrastructure will drive the market for paints & coating additives.
• However, growing urbanization, an increase in the number of buildings and furniture, and rising awareness towards environmental concerns across numerous regions will drive the overall demand.
List of Companies Covered:
• AGC Inc
• Arkema Group
• BASF SE
• Cabot Corporation
• DAIKIN INDUSTRIES, Ltd
• Dynea AS
• Eastman Chemical Company
• Elementis PLC
• Evonik Industries AG
• K-Tech (India) Limited
• The Lubrizol Corporation
The Global Paints & Coatings Additives Market is Segmented into:
By Type (2017–2027; US$ Bn)
By Application (2017–2027; US$ Bn)
Geography Segment (2017–2027; US$ Bn))
*Complete segmentation list is on a report page