Global Coating Additives Market is forecast to reach USD 12.74 Billion by 2027, according to a new report by Reports and Data. This can be mainly associated with the increase in demand owing to its properties such as durability, scratch resistance, and glossy look, which are influencing the market growth. Growing popularity among end-users, especially automotive, shipbuilding, and pipeline industries, will also encourage the growth of the market.
The implementation of stringent regulations across several countries, regarding green and solvent-free coating technologies, will lead to a reduced amount of VOC emissions. This will boost the demand for coating additive worldwide. Ongoing research and development efforts and analysis of trends are enabling the research team to improve paint performance and create innovations that stand out in the marketplace. From better hiding, enhanced durability, and stain resistance to low- to no-VOC coatings with reduced environmental impact, binders and additives are increasing performance to meet and exceed end-user demands for coatings.
Factors such as increase in the price of raw material and their volatility is anticipated to hinder the growth of the market. Furthermore, the raw material industry of the coating additive market is on the verge of consolidation that improves the bargaining power of suppliers and impacts the market growth negatively.
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Top Companies:
AkzoNobel N.V., BASF SE, Ashland Inc., Arkema SA, BYK-Chemie GmbH, Evonik Industries AG, Eastman Chemical Company, Lonza Group Ltd., Momentive Performance Materials Inc., and Cabot Corp., among others.
Further key findings from the report suggest:
The water-borne coating is majorly fueled by the growing demand for construction and the emergence of new buildings in both developed and developing countries. Electronics, automotive, and paper printing industry also play a part in boosting the market growth. They are finding a niche as it is quickly becoming an alternative for solvent-based coatings. It is supposed to be safer than solvent-based, which is harmful to the respiratory system.
The architectural coatings segment is on the rise, due to increasing applications, technological advancements, and the growing demand for coatings that makes substance, to which it is applied to make it more durable, boost its weathering performance with dynamic mechanical properties, such as improved corrosion resistance and improved flexibility.
Metal additive coatings separate a structural metal from the environmental corrosion. These types of coatings are used for the protection of steel, aluminum, zinc, and up to a certain extent, cadmium.
The Asia Pacific region accounted for 6.1% of the global coating additive market. Courtesy of increased applications of architectural coatings, rising constructional, and renovation activities in China, increased demand from the furniture market in India are boosting the growth of the market in the region.
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Market Insights:
The energy sector or industry comprises players involved in production and exploration of oil or gas reserves, oil and gas drilling, and refining. The energy industry also covers integrated power utility companies such as renewable energy and coal. Companies in the energy industry are classified based on how the energy is sourced such as non-renewables or fossil fuels and renewables such as solar.
The energy sector is an important driver of industrial growth, providing fuel to power the rest of the economy. The demand for energy will increase significantly in the coming years, driven by economic growth, urbanisation, rising incomes and industrial activity. Increasing emphasis of governments across the globe increasing emphasis on renewable energy, including grid-connected and off-grid systems is expected to stimulate market growth during the forecast period.
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Coating Additive Market Segmentation:
Type Outlook:
Acrylic Global Coating Additives
Urethane Global Coating Additives
Metallic Global Coating Additives
Fluoropolymer Global Coating Additives
Others
Application Outlook:
Architectural Application
Wood Furniture
Industrial Application
Automotive
Others
Regions covered by the report:
North America (U.S.A., Canada, Mexico)
Europe (U.K., Italy, Germany, France, Rest of Europe)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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