MarketsandMarkets has released a new coating additives market report, titled, “Coating Additives Market by Type (Defoamers, Wetting & Dispersing Agents, Rheology Modifiers), Formulation (Waterborne, Solventborne), Application (Architectural, Industrial, Automotive & Transportation, Wood & Furniture), Region – Global Forecast to 2028.” Reportedly, the market was sized at $8.3 billion in 2023 and projected to reach $10.5 billion by 2028, at a CAGR of 4.7% from 2023 to 2028.
Modifiers
Among coating additives, rheology modifiers emerge as the largest category. They hold a critical role in enhancing the overall performance and application attributes of coatings. Rheology modifiers effectively manage the viscosity of coatings, simplifying the application process, preventing drooping or sagging, and ensuring consistent coverage. This viscosity control is fundamental for achieving the desired finish and thickness while contributing to a smoother and aesthetically pleasing coating through improved flow and leveling. This feature is especially significant for top-tier coatings employed in automotive and architectural applications. Architectural applications constitute a substantial and rapidly expanding segment within the coating additives market. This growth is propelled by the global trend of increasing urbanization, leading to a notable upsurge in construction activities, particularly in emerging economies.
Waterborne
Waterborne coating additives find widespread use in applications where environmental concerns and the imperative of low Volatile Organic Compound (VOC) emissions take precedence. These applications span various sectors, including architectural, automotive and transportation, wood and furniture, and packaging coatings. These specialized formulations are meticulously crafted to yield a stable mixture that can be efficiently applied to surfaces, resulting in the creation of protective and aesthetically appealing coatings. It’s worth noting that the demand for waterborne coating additives has been substantial, commanding a significant portion of the global coating additives market share, primarily due to their environmental advantages and versatility in diverse applications.
Architectural
The construction and real estate sectors, which heavily rely on architectural coatings, have demonstrated consistent growth. This sustained expansion translates into a continuous need for coating additives within the realm of architectural applications. Stringent environmental regulations have propelled the adoption of environmentally friendly options like water-based and low-VOC coatings in architectural contexts. The prevailing economic prosperity further amplifies construction and renovation activities across both residential and commercial domains, subsequently augmenting the demand for coatings.
The key market players identified in the report Evonik Industries AG, ALTANA AG, BASF SE, Dow Inc., Nouryon, Arkema S.A., ELEMENTIS PLC, Allnex GMBH, Arkema S.A., Eastman Chemical Co., Ashland Inc. and others.
Access the full report here.
