Coating Additives Market is forecasted to reach USD 12.74 Billion at a CAGR of 5.9% by 2027
The Global Coating Additives Market is forecasted to grow at a rate of 5.9% from USD 8.27 billion in 2019 to USD 12.74 Billion in 2027. This is mainly contributed by the increasing demand from packaging industries, the growing popularity of additive manufacturing process, a rise of environment-friendly coating technologies, increasing demand for moisture and grease resistance, and oxygen, water vapor, and aroma barrier packaging.
Top Companies Operating in the Global Coating Additives Market:
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
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Manufacturers have started to invest in the development of bio-based and environment-friendly coating additives. Waterborne coatings are providing the market with growth opportunities. These types of coatings are beneficial to the environment. It meets the US and European regulations regarding volatile organic compound (VOC) emission. Waterborne coatings produce VOC content of fewer than 3.5 pounds per gallon.
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.
Consumers are placing a higher importance on sustainability and, as a result, are choosing items based on factors like circularity and carbon footprint. Furthermore, consumer concern about carbon emissions has prompted increased investment in renewable energy, energy efficiency, and transportation decarbonization. These developments have had considerable impact on chemical end sectors, particularly in the automobile and construction industries. COVID-19 has exacerbated the situation by lowering the automobile and construction industries (as well as many others) and disrupting current supply lines.
The adoption of digital technologies by oil, gas, and chemical firms has been fueled primarily by cost savings and greater reliability. Many organizations in these areas saw excellent benefits from advanced market sensing, improved operational optimization, and expanded usage of “in silico” simulations. Companies’ existing digital technologies provided an advantage with the abrupt entrance of COVID-19 and the accompanying shutdown of facilities and work sites, but they were often insufficient for the level of remote working and cybersecurity that was suddenly required.
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Coating Additives Market Segmentation
Type Outlook (Revenue, USD Billion; 2017-2027)
- Acrylic Coating Additives
- Urethane Coating Additives
- Metallic Coating Additives
- Fluoropolymer Coating Additives
Application Outlook (Revenue, USD Billion; 2017-2027)
- Architectural Application
- Wood & Furniture
- Industrial Application
Function Outlook (Revenue, USD Billion; 2017-2027)
The report is written with the aid of industry analysts, market segmentation, and data collection in order to assist readers in making profitable business decisions. The report includes a comprehensive database of technical and product advances. It also provides information on growth rates and market value, as well as a thorough examination of niche market segments. The report provides strategic advice to newcomers and existing businesses about how to make profitable and well-informed business decisions.
The Coating Additives market has been segmented into key regions of the world and offers an analysis of growth rate, market share, current and emerging trends, production and consumption ratio, industrial chain analysis, demand and supply, import and export, revenue contribution, and presence of key players in each region. A country-wise analysis of the market is offered in the report to gain a better understanding of the regional spread and progress of the Coating Additives market.
The global Coating Additives market is segmented into:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Key Questions Addressed in the Report:
- What are the dominating factors that are influencing the growth of the industry?
- In the forecast period, which market segment is expected to rise the most?
- What are the risks and challenges that the industry is facing?
- In the coming years, which area is projected to dominate the market?
- Who are the major players in the market? What kind of strategic business plans have they made?
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