Global Coating Additives Market Size To Worth USD 13.15 Billion By 2033 | CAGR of 4.68%
Category: Chemicals & MaterialsGlobal Coating Additives Market Size To Worth USD 13.15 Billion By 2033
According to a research report published by Spherical Insights & Consulting, the Global Coating Additives Market Size is Expected to Grow from USD 8.32 Billion in 2023 to USD 13.15 Billion by 2033, at a CAGR of 4.68% during the forecast period 2023-2033.
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Browse key industry insights spread across 255 pages with 109 Market data tables and figures & charts from the report on the "Global Coating Additives Market Size, Share, and COVID-19 Impact Analysis, By Type (Acrylics, Fluoropolymers, and Urethanes), By Formulation (Powder Coating, Radiation Curable Coating, Solvent Borne Coating, Solventless Coating, Water Borne Coating, and Others), By End Users (Architectural Coating, Automotive Coating, Industrial Coating, Marine Coating, Metal Packaging, Wood & Furniture Coating, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033." Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/coating-additives-market
Coating additives market refers to the supply of substances to improve the performance of paints and coatings in a variety of industries such as the automotive, construction, and architectural sectors. Coatings additives are specialty compounds added to coating formulations to improve durability, adhesion, weather resistance, appearance, and functionality. Further, factors like the necessity for corrosion protection, technological advancements, and changing consumer needs would increase the need for coating additives in a range of applications. The increasing application of coating additives in the building and construction segment is providing lucrative market growth opportunities. The increasing application of sustainable and environment-friendly products leads to the use of bio-based coating additives, resulting in propelling the coating additives market. Further, the surging infrastructure and need for sustainable coating additives with the evolving technologies are bolstering the market growth. On the contrary, the price fluctuation, environmental concerns, and VOC emissions are the factors restraining the market for coating additives.
The acrylics segment dominates the market with the largest share of the coating additives market during the forecast period.
Based on the type, the coating additives market is classified into acrylics, fluoropolymers, and urethanes. Among these, the acrylics segment dominates the market with the largest share of the coating additives market during the forecast period. Chemical resistance, abrasion, moisture, biocide resistance, and elevated temperature are all addressed by acrylic coating additives. The increasing building and construction as well as automotive sectors are responsible for driving the market.
The water borne coating segment is anticipated to grow at the fastest CAGR during the forecast period.
Based on the formulation, the coating additives market is classified into powder coating, radiation curable coating, solvent borne coating, solventless coating, water borne coating, and others. Among these, the water borne coating segment is anticipated to grow at the fastest CAGR during the forecast period. Because water-based coating produces fewer volatile organic compounds (VOCs), it is a more environmentally friendly option that complies with stringent environmental standards. The severe regulatory limitations and product demand in the industrial and architectural wood segments are driving the market demand.
The automotive coating segment is anticipated to witness the fastest CAGR growth through the forecast period.
Based on the end users, the coating additives market is classified into architectural coating, automotive coating, industrial coating, marine coating, metal packaging, wood & furniture coating, and others. Among these, the automotive coating segment is anticipated to witness the fastest CAGR growth through the forecast period. In the automotive industry, coating additives improve longevity, UV resistance, and visual appeal. The expanding automotive industry and the crucial function of coating additives in protecting and enhancing vehicle appearance are driving the market growth.
Asia Pacific is estimated to hold the largest share of the coating additives market over the forecast period.
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Asia Pacific is estimated to hold the largest share of the coating additives market over the forecast period. The increasing regional construction activities and demand for furniture coatings especially in China are driving the market demand. Rapid industrialization and urbanization are also contributing to propel the market demand for coating additives.
North America is predicted to grow at the highest CAGR in the coating additives market over the forecast period. The increasing demand for environmentally friendly products and rising infrastructure in the U.S. are anticipated to propel the market. The increasing automotive, building, and construction activities are also responsible for driving the market demand.
Major key players in the global coating additives market include BASF SE, ALTANA AG, Arkema, Nouryon, Allnex GmbH, Elementis Plc., Momentive, Eastman Chemical Company, Ashland, Solvay, Evonik Industries AG, CLARIANT, Dow Inc., LANXESS, and Others.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Recent Developments
- In August 2024, Hexion Inc., a global leader in specialty chemicals, announced a strategic collaboration with Clariant, an intumescent additive supplier, to develop cutting-edge intumescent coatings.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the coating additives market based on the below-mentioned segments:
Global Coating Additives Market, By Type
- Acrylics
- Fluoropolymers
- Urethanes
Global Coating Additives Market, By Formulation
- Powder Coating
- Radiation Curable Coating
- Solvent Borne Coating
- Solventless Coating
- Water Borne Coating
- Others
Global Coating Additives Market, By End Users
- Architectural Coating
- Automotive Coating
- Industrial Coating
- Marine Coating
- Metal Packaging
- Wood & Furniture Coating
- Others
Global Coating Additives Market, By Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
About the Spherical Insights & Consulting
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Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements.
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