Paints and Coatings Additives Market Forecast to 2027
"The Global Paints & Coatings Additives Market is estimated to value USD 8,243.73 million in 2021. The market had a declined rate of 5.30% in 2020 from 2019 due to pandemic effects across the global market. However, the paints and coatings additives market is poised to grow at a CAGR of 6.13% over the forecast period 2022-2027 and will account for the value USD 11,785.26 million in 2027" - AKI Research
By region, in 2021, Asia-Pacific dominated the global paints & coatings additives market (i.e. about 46.04%) followed by Europe and North America. Over the forecast period, the Asia-Pacific region will have the highest CAGR of 6.68% followed by Middle-East & Africa, North America, and Europe. Moreover, it is forecast that the Asia-Pacific region will have the highest incremental market size growth of about USD 1,546.15 million over the forecast period followed by Europe.
China is the dominant market for the paints & coatings additives market and is home to more than a thousand coatings manufacturers including international and local players. In 2021, China accounted for a market size of about USD 2,183.9 million in the paints and coatings additives market and is poised to grow at a CAGR of 7.11% over the period 2022-2027. According to AKI Research, the ASEAN region will have the highest CAGR of 7.29% in the Asia-Pacific paints and coatings additives market over the forecast period.
By additive type, the paints and coatings additives market is segmented as Rheology Modifiers, Dispersants and Wetting Agents, Defoamers and Deaerators, Biocides, Surface Modifiers, Stabilizers, Flow and Leveling Additives, and other additives types. Rheology modifiers type accounted for the highest market share of 28.91% in 2021 and is forecast to have an incremental market size growth of about USD 982.77 million over the forecast period. Dispersants and wetting agents were the second-largest additive type having a 21.16% market share in 2021.
There are improvements in the coating products in terms of sustainability and performance in the last few years owing to new technologies and the introduction of bio-based solutions. Many manufacturers of coating resins, additives, pigments, etc. are focusing on better sustainable products to reduce the VOC emission and carbon footprint.
For example, in Feb 2022, Evonik Industries has announced that they have developed a new sustainability holistic approach called handprint effects. Their coating additive business line has defined seven different effects which outline potential handprints for their products and solutions. Currently, the company has approximately 50% of the coating additives portfolio classified as next-generation solutions.
In Oct. 2021, Michelman introduced the NatureShield®, bio-based surface modifiers to develop coatings with an increased amount of bio-sourced materials. It can be used for wood & concrete coatings as an alternative to synthetic surface modifiers for high-quality more sustainable products.
Key Players in the global paints & coatings additives market includes Dow, Solvay, Altana Group (BYK), Cabot Corporation, Ashland, Elementis PLC, Eastman Chemical Company, Nouryon, Evonik Industries AG, DAIKIN INDUSTRIES, Ltd, Kusumoto Chemicals, Ltd., Shin-Etsu Chemical Co., Ltd., Arxada (Troy Corporation), PTTGC International (Allnex), Momentive Performance Materials Inc., Michelman, Inc., etc.
PreBook your full #paintsandcoatings #additives market report at firstname.lastname@example.org with your customized requirements and get to know the latest market updates and forecast data.The key coverage in the Paints & Coatings Additives Market study will be:
Segments: Additive Type, Formulation, Application, and Geography
Additive Type: Rheology Modifiers, Dispersants and Wetting Agents, Defoamers and Deaerators, Biocides, Surface Modifiers, Stabilizers, Flow and Leveling Additives, Other Types
Formulation: Waterborne, Solvent-borne, Powder, UV Cure
Application: Transportation, Architectural, Wood, Protective, Other Industrial Applications
Regions: Global. Includes 5 regions (North America, South America, Europe, Asia-Pacific, Middle-East & Africa)
Country: 18+ Countries and rest of Countries in Each Region
Base Year: 2021, Forecast: 2022-27 (Y-o-Y)
Historical Years: 2017-2020
Market Share for 2021 & key recent developments
Company Profiles: 15+ Key Players
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