Dublin, Feb. 08, 2024 (GLOBE NEWSWIRE) -- The "Global Coating Additives Market by Type (defoamers, wetting & dispersing agents, rheology modifiers), Formulation(water-borne, solvent-borne), Application(architectural, industrial, automotive & transportation, wood & furniture), Region - Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.
The coating additives market is poised for significant growth, with a projected value of USD 8.3 billion in 2023 to USD 10.5 billion by 2028, at a CAGR of 4.7% Silicone Polyether
This research report is focused on various levels of analysis - industry analysis (industry trends), market ranking analysis of top players, and company profiles, which together provide an overall view on the competitive landscape; emerging and high-growth segments of the aramid fiber market; high-growth regions; and market drivers, restraints, opportunities, and challenges.
Cutting-edge high-performance and multifunctional additives are driving innovation in the coating industry. This innovation is ushering in an era where coatings become versatile protective shields, combining both protection and enhanced functionality.
Multifunctional additives present an exciting opportunity in the coating additives market by offering various benefits to coatings, including improved durability, resistance to scratches, self-cleaning capabilities, and antimicrobial protection. The enhanced scratch resistance, a key feature of high-performance additives, aligns well with industries that prioritize both aesthetics and long-lasting performance. As the demand for coatings with expanded capabilities rises, the development and promotion of high-performance and multifunctional additives are not just opportunities but essential strategies.
These additives not only fuel technical innovation but also open doors to emerging market segments, positioning industry players at the forefront of the ever-evolving landscape of coating additives.
The key market players illustrated in the report include Evonik Industries AG(Germany), ALTANA AG(Germany), BASF SE(Germany), Dow Inc.(US), Nouryon(Netherlands), Arkema S.A.(France), ELEMENTIS PLC(UK), Allnex GMBH(Germany), Arkema S.A.(France), Eastman Chemical Company(US), and Ashland Inc.(US).
Rheology modifier was the largest type in coating additives market in 2022, in terms of value
Rheology modifiers are additives strategically employed to manage the viscosity and flow properties of paints and coatings. They wield a significant influence over pivotal attributes within the realm of paints and coatings, including but not limited to leveling, flow, gloss, adhesion, film thickness, coverage capacity, susceptibility to settling, and pigment stability.
The primary reason for the increasing demand for these additives can be traced to the expansion of the construction and industrial sectors. These industries often depend on coatings to protect and improve the quality of their products, and rheology modifiers are indispensable tools in enhancing the performance and application characteristics of these coatings.
Architectural is projected to be the largest application of coating additives market during the forecasted period
The security and protection segment asserted its dominance in the market throughout 2022 and is expected to sustain its leadership position until 2028. This enduring prominence is underpinned by the surging demand emanating from emerging economies like China, Brazil, and India. These economies are pivotal consumers, employing aramid fibers for various military, industrial, and civil applications.
The escalating need for thermal and ballistic protection in civil law enforcement and armed forces, driven by the rising challenges of insurgency and terrorism, further reinforces the segment's market leadership, heralding significant growth potential in this domain.
Europe is estimated to be the second-largest coating additives market between 2023 and 2028, in terms of value
In 2022, Europe stands as the second-largest market for coating additives in terms of value. The European market operates under the regulatory framework of the Registration, Evaluation, Authorization, and Restriction of Chemical Substances (REACH). REACH plays a pivotal role in overseeing and providing guidelines to safeguard the environment and mitigate health risks associated with chemicals.
Notably, the stringent regulations enforced by REACH have led to a consistent reduction in the use of high Volatile Organic Compound (VOC)-emitting resins in coatings across the region. Key manufacturing hubs for airplanes and automobiles, including countries like Germany, Spain, France, and Russia, are driving the demand for waterborne coating additives. This surge in demand is solidifying the region's robust global position in the coating additives market.
The report provides insights on the following pointers:
Analysis of key drivers (Growing demand for waterborne chemistry, Prominence on high-performance and multifunctional additives, Rising demand for environmental-friendly products, Collective demand for corrosion protection), restraints (Raw material price instability, Regulatory compliance challenges), and challenges (Rising demand from building and construction sectors, Mounting automotive and aerospace sectors) Opportunities (Technical lumps to innovation)
Estimated Market Value (USD) in 2023
Forecasted Market Value (USD) by 2028
Raj Specialty Additives Pvt. Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/65f7u1
Superspreading Surfactant About ResearchAndMarkets.com ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.