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Coating Additives Market Size, Share, Competitive Landscape and Trend Analysis Report by Type, By Function, By Formulation, By End Use Industry : Global Opportunity Analysis and Industry Forecast, 2024-2032

Coating Additives Market Size, Share, Competitive Landscape and Trend Analysis...

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Coating Additives Market Size, Share, Competitive Landscape and Trend Analysis Report by Type, By Function, By Formulation, By End Use Industry : Global Opportunity Analysis and Industry Forecast, 2024-2032
Coating Additives Market Size, Share,...
Report Code
RO3/128/1190

Publish Date
12/Jun/2024

Pages
200
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The global coating additives market revenue was around US$ 10.5 billion in 2023 and is estimated to reach US$ 17.4 billion by 2032, growing at a compound annual growth rate (CAGR) of 5.7% during the forecast period from 2024 to 2032.
Coating additives are materials that are added to paints, coatings, or other surface treatments to improve their functionality or give them particular qualities. These additives can change the coating's appearance, adhesion, durability, rheology, and resistance to abrasion, corrosion, and UV light, among other properties. Coating additives improve paints and coatings by raising their viscosity, impact resistance, and surface efficacy. Polymers, silicates, chemicals, and various gases are added as additives to coatings and paints to enhance their properties.
Factors Influencing Market Growth
- Due to the rise in the need for multifunctional additives, stringent environmental regulations, and growing consumer and formulator awareness of the advantages of coating additives, the demand for coating additives is increasing, thus propelling the market growth.
- Coating additives play a crucial role in enhancing functionality, durability, and environmental sustainability and meeting the evolving needs of various industries such as automotive, construction, aerospace, and industrial manufacturing. This will increase the demand for coating additives in these industries, thus expanding the market.
- An increase in demand for water-borne and powder-based coating additives in green construction is expected to increase the demand for coating additives, thus expanding the market.
- Industrial discharges or solid wastes of paint and coating materials interfere with local sanitary sewers, leading to the discharge of pollutants into local waterways. This may hamper market growth.
Impact of COVID-19
COVID-19 negatively impacted the market. This was due to the imposition of strict lockdown laws in multiple countries, which caused the temporary closure of many coating additive end-use industries. Also, due to lockdowns and social distancing measures, the construction industry, which is a significant user of architectural coatings and additives, saw delays and a decrease in activity. This decreased the demand for coatings additives market.
Regional Insights
Asia-Pacific dominated the market in 2023. This is because of the economic development in emerging countries in this region. Furthermore, the region has seen rapid economic expansion, which has sped up industrialization and urbanization. The demand for infrastructure development, residential and commercial construction, and automotive production is increasing as the region's economies grow. These industries are the primary users of coating additives, which is fueling the expansion of the market.
Leading Competitors
- Eastman Chemical Company
- Dow
- Ashland
- Evonik Industries AG
- CLARIANT
- Momentive
- Arkema
- BASF SE
- LANXESS
- Solvay
- Elementis PLC
- The Lubrizol Corporation
- Michelman, Inc.
- Croda International Plc
- Cytec Industries Inc.
- Other Prominent Players
Segmentation Analysis
The global coating additives market segmentation focuses on the end-use industry, formulation, function, type, and region.
Segmentation based on End-Use Industry
- Architectural
- Industrial
- Automotive
- Wood and Furniture
- Others

Segmentation based on Formulation
- Water Borne Coating
- Solvent Borne Coating
- Solventless Coating
- Powder Coating
- Radiation Curable Coating

Segmentation based on Function
- Anti Foaming
- Wetting and Dispersion
- Rheology Modification
- Biocides
- Impact Modification
- Others

Segmentation based on Type
- Urethanes
- Metallic Additives
- Others
- Acrylic
- Fluoropolymers

Segmentation based on Region

- North America
- The U.S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Netherlands
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Singapore
- Rest Of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa

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