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Global Coating Additives Market Outlook Report 2021-2026 - ResearchAndMarkets.com

·6 min read

DUBLIN, October 18, 2021--(BUSINESS WIRE)--The "Global Coating Additives Market Outlook to 2026" report has been added to ResearchAndMarkets.com's offering.

Global Coating Additives market is expected to witness a considerable growth rate during the forecast period. Growing construction activities globally and growing demand in the automotive industry are the major factors driving the market for coating, which in turn is driving the consumption of coating additives.

However, rising environmental concerns and growing demand for environmentally friendly products are anticipated to hinder the market growth in the near future.

The ongoing growth in the urbanization and construction industry, especially in the Asia-Pacific region, is likely to drive coatings consumption and thus the demand for additives. The urbanization rate in the Asia-Pacific region is around 1.5% per year, the world's highest. It is estimated that by the year 2030, over half of the population in the region will be urban.

According to the United Nations, as of 2020, 33 megacities in the world require planned habitation for the rapidly growing urban population. More than 50% of the global GDP is generated in cities, and urbanization can lead to sustainable growth if managed well by increasing productivity. Urbanization has expanded immensely in recent years.

Due to urbanization, there has been a rise in the number of construction projects, high-rise buildings, and other construction types. Thus, as urbanization rapidly increases, the number of construction projects increases, leading to the growth in the consumption of coatings. Coatings demand is proliferating in the automotive industry due to increased vehicle demand, aging vehicles, and environmental concerns which in turn is giving a boost to the coating additives market.

Moreover, increasing vehicle production in countries such as China, Mexico, Indonesia, Japan, U.S., South Korea, Germany, and India is further driving the growth of the coatings market. The rising demand for automobile coatings has exemplified the avant-garde of technologies in coating additives such as durable surfaces, exceeding customers' expectations of appearance, maximizing efficiency, and meeting environmental regulations.

Due to the evolution in the automotive sector and the manufacturing material, the automotive sector's coatings are also evolving. The additives provide automobiles a unique appearance, which makes them desirable for customers. One of these evolutions is in the use of smart coatings because they offer the potential to significantly improve surface durability while adding additional functionalities or properties like self-healing, super-hydrophobicity, self-stratifying, self-sensing, soundproofing, and vibration damping.

Investments are being made in nano-based coating additive that can transfer ordinary coatings into highly hydrophobic and oleophobic surface properties. For instance, NANOMYTE PC-10 is specially formulated for aqueous fluoropolymer coatings. It can be easily incorporated into commercial coating formulations for thermoset coatings like polyurethane, nitrocellulose, and epoxy. These additives improve abrasion resistance and scratch resistance. Even just small additions of PC-10 lead to a dramatic improvement in desirable mechanical properties of up to 50% without affecting the intrinsic properties of the thermoset polymer, such as gloss and transparency.

Coating additives are one of the most important contents in the formulation of a coating and help control its performance. The architectural coating is the most extensive application of the coating additives market and includes additives for both exterior and interior coatings (including roofs, floors, pavement, walkways, floors, etc.).

The ability of coatings additives to provide protection from moisture, microbial growth, heat, and chemicals for a large duration is leading to the increasing demand for coating additives in the architectural segment. The rising growth in the construction industry due to rapid urbanization and growth in living standards and per capita income has led to the rapid growth of the coatings industry. In 2019, more than half of the world's population lived in urban areas, and the urban population is estimated to reach 2.5 billion by the year 2050.

These trends are mainly observed in African and Asian countries. The architectural coatings segment acts as a huge market for biocides, rheology modifiers, and flow and leveling products. In accordance with global trends and regulations aimed at decreasing VOCs many traditional materials, formulators are looking to transition to more environmentally friendly systems.

High durability with superior technology additives is significantly expanding to provide an extended service life infrequently disinfected areas and scrubbed with harsh chemicals in commercial and institutional buildings, such as hospitals, schools, universities, and hotel lobbies. Architectural coatings are also prominent in providing air barriers essential for increasing energy efficiency in building enclosures. Air barriers stop the flow of air through the building, protecting the structure and increasing the efficiency of heating and cooling systems.

Asia Pacific region accounted for the largest coating additives market in 2019, in terms of revenue due to the developing construction in the region, accompanied by rising spending in the industrial sector and infrastructural developments in the developing countries such as China, India, and Indonesia.

The major market players in the global market are Arkema SA, Ashland Inc., BYK-Chemie GmbH, Dow Inc., Evonik Industries AG, and BASF SE, among others.

Key Topics Covered:

1. Executive Summary

2. Research Scope and Methodology

2.1 Aim & Objective of the study

2.2 Market Definition

2.3 Study Information

2.4 General Study Assumptions

2.5 Research Phases

3. Market Analysis

4. Industry Analysis

4.1 Supply Chain Analysis

4.2 Porter's Five Forces Analysis

5. Market Segmentation & Forecast

5.1 By Type

5.1.1 Biocides

5.1.2 Flow & Leveling

5.1.3 Radiation Cure

5.1.4 Wetting & Dispersing

5.1.5 Defoamer & Deaerator

5.1.6 Rheology Modifier

5.1.7 Catalysts & Drier

5.1.8 Others

5.2 By Application

5.2.1 Architectural

5.2.2 Transportation

5.2.3 General Industry

5.2.4 Protective

5.2.5 Others

6. Regional Market Analysis

6.1 North America

6.1.1 United States

6.1.2 Canada

6.1.3 Mexico

6.2 Europe

6.2.1 Germany

6.2.2 United Kingdom

6.2.3 Italy

6.2.4 France

6.2.5 Spain

6.2.6 Rest of Europe

6.3 Asia-Pacific

6.3.1 China

6.3.2 India

6.3.3 Japan

6.3.4 South Korea

6.3.5 Rest of Asia-Pacific

6.4 South America

6.4.1 Brazil

6.4.2 Argentina

6.4.3 Rest of South America

6.5 Middle East & Africa

6.5.1 South Africa

6.5.2 Saudi Arabia

6.5.3 Rest of Middle East & Africa

7. Key Company Profiles

7.1 Arkema SA

7.2 Ashland, Inc.

7.3 BASF SE

7.4 BYK-Chemie GmbH

7.5 Dow Inc.

7.6 Elementis PLC

7.7 Evonik Industries AG

7.8 Momentive Performance Materials, Inc.

7.9 Eastman Chemical Company

7.10 Altana AG

7.11 Solvey SA

7.12 AGC, Inc.

7.13 Cabot Corporation

7.14 Dynea AS

7.15 The Lubrizol Corporation

For more information about this report visit https://www.researchandmarkets.com/r/634t0g

View source version on businesswire.com: https://www.businesswire.com/news/home/20211018005660/en/

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