The global paints and coatings additives market size is expected to reach USD 12,659.4 million by 2027, while exhibiting a CAGR of 5.9% between 2020 and 2027. The surging demand for advanced paints and coatings additives is driven by the increasing number of residential projects and the rising automotive sector globally. This information is detailed in a report by Fortune Business Insights™, titled “Paints and Coatings Additives Market Size, Share & COVID-19 Impact Analysis, By Type (Dispersing Agent, Rheology Agent, Leveling Agent, Anti-foaming Agent, Adhesion Promoting Agent, and Others), By Application (Automotive, Architectural, Wood, Industrial, and Others), and Regional Forecast, 2020-2027.” The report further mentions that the market was valued at USD 8,299.7 million in 2019.
List of the Companies Operating in the Global Market:
Dow (U.S)
Evonik Industries AG (Germany)
BYK-Chemie GmbH (Germany)
Clariant AG (Switzerland)
Kyoeisha Chemical Co., LTD. (Japan)
Arkema S.A. (France)
BASF SE (Germany)
Lubrizol Corporation (U.S.)
ELEMENTIS PLC. (UK)
Kusumoto Chemicals, Ltd. (Japan)
ALLNEX NETHERLANDS B.V. (Germany)
Shin-Etsu Chemical Co., Ltd. (Japan)
Shamrock Technologies (U.S.)
King Industries, Inc. (U.S.)
Troy Corporation (U.S)
Solvay S.A. (Belgium)
San Nopco Limited (Japan)
keim additec surface GmbH (Germany)
Other Key Players
Paints and coatings additives include emulsifiers, pigments, curing catalysts, thickeners, and dispersants, among other substances. These additives are extensively used to enhance properties such as leveling, flow, UV protection, high-temperature stability, and chemical resistance, making them ideal for applications in the automotive and construction sectors globally.
The market report offers a detailed assessment of various drivers, restraints, opportunities, and challenges that the market will face during the forecast period. Additionally, it provides comprehensive insights into regional developments affecting market growth. The report includes information sourced from industry experts and research analysts using several research methodologies. The competitive landscape section offers detailed insights into strategies such as product launches, partnerships, mergers and acquisitions, and collaborations adopted by companies to maintain their market stronghold from 2020 to 2027.
Increasing Focus on Residential Sector Development to Augment Growth
Although the novel coronavirus pandemic has disrupted painting and coating applications globally, the rise in do-it-yourself home improvement projects has driven demand for these additives. These additives, used as emulsifiers, dispersants, thickeners, photo-stabilizers, and leveling agents, provide efficient corrosion protection for infrastructures. They also enhance the shelf life of coatings and improve substrate durability. Due to these benefits, the adoption of advanced additives is expected to boost the global paints and coatings additives market growth during the forecast period.
Automotive Segment Held 7.6% Market Share in 2019
Based on application, the automotive segment held about 7.6% of the market share in 2019 and is projected to experience considerable growth during the forecast period. This growth is attributable to the increasing demand for automobiles, which drives the need for advanced paints and coatings additives globally. These additives provide surface protection and enhance the texture of automobiles.
Rising Automotive Sector in Asia-Pacific to Favor Growth
Asia-Pacific is expected to lead the global paints and coatings additives market in the forthcoming years, driven by the growing automotive sector in countries such as India and China. This growth is due to the demand for advanced paints and coatings additives to prevent corrosion and protect vehicles from extreme temperatures. The region's market value stood at USD 3,766.8 million in 2019.
In Europe, the market is expected to gain momentum due to increasing efforts to improve the aesthetic appearance of old government and residential buildings between 2020 and 2027.
Eminent Players Expanding Production Facilities to Leverage Promising Opportunities
The global paints and coatings additives market size is consolidated by several major companies focusing on expanding their production facilities to meet the increasing demand for advanced paints and coatings additives for industrial applications, including automotive and construction.
Information Source:https://www.fortunebusinessinsights.com/industry-reports/paints-coatings-additives-market-101810