Market Projections and Growth
The global paints and coatings additives market is projected to reach $12.659 billion by 2027, growing at a compound annual growth rate (CAGR) of 5.9% from 2020 to 2027. This growth is driven primarily by the increasing demand for advanced paints and coatings additives, propelled by the rise in residential construction projects and the global automotive industry. These findings are from 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 also notes that the market was valued at $8.3 billion in 2019.
Key Industry Players
Leading companies in the global paints and coatings additives market include:
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 notable companies
Overview of Paints and Coatings Additives
Paints and coatings additives include a variety of substances such as emulsifiers, pigments, curing catalysts, thickeners, and dispersants. These additives are vital for enhancing properties like leveling, flow, UV resistance, stability at high temperatures, and chemical resistance. They find applications in the automotive and construction sectors globally.
Report Highlights
The market report offers an in-depth analysis of the factors driving and restraining market growth, along with potential opportunities and challenges during the forecast period. It also provides detailed insights into regional developments influencing the market. The report compiles information from industry experts and research analysts using various research methodologies. The competitive landscape section details strategic initiatives such as product launches, partnerships, mergers and acquisitions, and collaborations undertaken by companies to maintain their market presence from 2020 to 2027.
Market Drivers
Growing Residential Sector to Boost Market Expansion
Despite disruptions caused by the COVID-19 pandemic in painting and coating applications, the increase in DIY home improvement projects has boosted the demand for these additives. These additives, which function as emulsifiers, dispersants, thickeners, photo-stabilizers, and leveling agents, are essential for providing corrosion protection for infrastructure. They also extend the shelf life of coatings and improve the durability of substrates. These benefits are expected to drive the adoption of advanced additives, propelling the growth of the global paints and coatings additives market during the forecast period.
Market Segmentation
Automotive Segment Captured 7.6% Market Share in 2019
In terms of application, the automotive segment accounted for approximately 7.6% of the market share in 2019 and is expected to experience significant growth over the forecast period. This expansion is driven by the increasing demand for automobiles, which in turn boosts the need for advanced paints and coatings additives that provide surface protection and enhance the texture of vehicles.
Regional Insights
Rising Automotive Sector in Asia-Pacific to Favor Growth
The Asia-Pacific region is anticipated to dominate the global paints and coatings additives market in the coming years, primarily due to the expanding automotive sector in countries like India and China. This growth is attributed to the demand for advanced paints and coatings additives that prevent corrosion and protect vehicles from extreme temperatures. The market value in this region was USD 3,766.8 million in 2019.
In Europe, the market is expected to gain momentum due to increasing efforts to enhance the aesthetic appearance of old government and residential buildings from 2020 to 2027.
Competitive Landscape
Eminent Players Expanding Production Facilities to Leverage Promising Opportunities
The global paints and coatings additives market is consolidated by several major companies focusing on expanding their production facilities to meet the rising demand for advanced paints and coatings additives in industrial applications, including automotive and construction.
Blog Related Insights: https://www.globenewswire.com/news-release/2023/05/02/2658769/0/en/Paints-and-Coatings-Additives-Market-to-Reach-USD-12-659-4-Million-by-2027-Fortune-Business-Insights.html