Coating Additives Market: Demand for Acrylics to Remain Robust: Global Industry Analysis (2012-2016) & Opportunity Assessment (2017-2022)
- REP-GB-275
- 2017-09-13
- 170 Pages
- Format:
- Category: Chemicals & Materials
Coating additives are special type of solutions that are added to paints to improve their performance and quality. Coating additives enhances dispersion of solids, wettability, anti-catering, anti-chipping, gloss control, and UV protection functionalities of paint coatings. There various type of coating additives available in the market such as urethanes, acrylic, metallic and fluoropolymers. Among these, acrylic coating additives continue to gain momentum. The global coating additives market is projected to surge at steady growth rate and exhibit a CAGR of 4.8% during the forecast period (2017-2022). The global market for coating additives is projected to stand a US$ 8,851.3 Mn by the end of 2022.
Coating additives are being increasingly used in painting of surfaces that are prone to external problems such as abrasion, high temperature, toxicity, decaying and biocides. Over the years, there has been a tremendous growth in the building and construction sectors, which has concurrently boosted the global sales of coating additives. Due to the rising demand for high-quality painting materials for buildings, usage of various types of coating additives have escalated to a substantial level in the building & construction industry. Use of coating additives has become more frequently for painting exteriors of commercial and residential buildings. Moreover, use of coating additives has also surged in the automotive sector, owing to their exceptional performance in maintaining the vehicle’s exterior paint work for longer durations. Meanwhile, coating additives remains a key material in manufacturing of various wood & furniture, aviation and industrial engineering products among others. On the other hand, most coating additives are consistently scrutinized by environmentalists and regulatory bodies due to growing concerns over harmful VOC effects. Manufacturer are also paying more attention towards development of eco-friendly bio-based and water-borne coating additives, which, in turn, is expected to create more market opportunities in the near future. The aforementioned factors are expected to influence the dynamics of the global market for coating additives in the forthcoming years.
Europe’s Leadership in the Global Coating Additives Market to Remain Unchallenged
The report projects that Europe will continue to lead the global market for coating additives in 2017 and beyond. During the forecast period, the market in Europe is expected to remain highly lucrative. Influx of emigrants from surrounding regions due to geopolitical instability is resulting in rampant construction of relief shelters and housing in many of the countries in Europe to provide temporary settlements. To an extant, this particular phenomenon is driving the demand for various construction materials including paints and coating additives in the region. Between 2017 and 2022, the region’s coating additive market is set to ride at a CAGR of 4.3%.
Solvent Based Coating Additive will continue to Outperform the Water Based Variant
On the basis of formulations, the global market for coating additives has been segmented into; solvent based and water based. The former is expected to remain dominant throughout the forecast period. Currently, the global sales of solvent based coating additives represents more than half of the total revenue share of the global market. Towards the end of 2022, close to US$ 4,954 Mn worth solvent based coating additives are estimated to be sold worldwide.
Competitive landscape
Leading companies that manufacture coating additives have also been profiled in the report. Key players contributing to the growth of the global market for coating additives include Akzo Nobel NV, Arkema SA., Ashland Global Holdings, Inc., BASF SE, BYK-Chemie GmbH, Asahi Glass Co., Ltd., Dow Chemical, Evonik Industries AG, Solvay SA, Momentive Performance Materials, Inc., Arch Chemicals, and Lonza Group AG. Many of these companies are actively focusing on enhancing their product functionality and applicability in order to increase market share.
Future Market Insights (FMI) has recently published a report titled “Coating Additives Market: Industry analysis (2012-2016) and Opportunity Analysis (2017-2022)” that offers insightful information and important updates related to the coating additives market. The report includes data with regards to developments and product innovations that is influencing the growth of the market.
Report Structure
The report starts with an executive summary, wherein a brief outline of key research findings have been offered. This part of the report also provides an all-round outlook towards regional and product segmentations of the market, covering their historical and forecasted expansion. The reader will also gain excess to information regarding the performance of the coating additives market in terms of revenue generation. The following section covers the introduction and definition of the market. Next, the report provides an in-depth analysis on the impact of macro-economic aspects and key trends to enable investors to make informed decisions.
The coating additives market is well-defined in the report so readers gets a clear view of the opportunities of this market. In the subsequent part of the report, information on the key dynamics of the global market for coating additives. Important aspects covered in this section comprise of fiscal stimulus, global economy and bottom line of enterprises. The report also offers information of the supply chain, cost structure and pricing analysis of the global market for coating additives in succeeding section. Also, the reader will come across an analysis on the leading market players in this section of the report.
Companies that manufacturer coating additives are actively focusing on further product innovation and development of eco-friendly coatings additives in order to leverage the market potentials showcased by such products. Moreover, stringent regulatory norms imposed on maximum permissible level of VOC release from coating additives are promoting manufacturer to seek raw materials that can enable manufacturing of bio-based and water-borne coating additives. The report talks about such as factors in order to inform the readers about the current trends, which are likely to govern the market in the forthcoming years.
The coating additives market is exhibiting a steady growth in terms of revenue owing to increasing product application. Application of coating in wood & furniture, architectural and automotive manufacturing continues to grow. Rheology modification, biocides Impact modification, anti-foaming and wetting & dispersion have emerged as some of the key applications of coating additives. Coating additives enhances paint and coating functionalities such as dispersing of solids, gloss control, anti-chipping, UV protection, wettability, foam reduction, anti-catering, and flow control. Coating additives helps in protect surfaces from high temperature, abrasion, moisture, biocides, chemicals during the service life of the object that is coated.
Market Taxonomy
In one of its chapters, the report offers a thorough of the key segmentation of the market, which include product type, formulation type, application, end use industry and region. Further, the report provides insights on each of the market segments and sub-segments in terms of Y-o-Y growth, market size, absolute $ opportunity, BPS analysis and market attractive index.
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These sections also presents country-specific forecast and cross-sectional data on coating additives market. In addition, the report offers an all-inclusive profiling of prominent market participants, in which, their present share in overall market and recent developments are mentioned.
Research Methodology
The research methodology and analytical approach taken in the time of development of the report are based on bi-focal projections on the regional as well as global market trends that are influenced by population, economy and technology.