Scienza e Tecnologia
Coating Additives Market worth $11.04 billion by 2029 - Exclusive Report by MarketsandMarkets™
The market is projected to grow because of the growing infrastructural projects and urbanization, mounting demand for water-borne products, increasing needs for bio-based additives, and increasing industrial expansion in Asia Pacific region. Coating additives are specialized substances incorporated into coatings formulations to improve durability, adhesion, weather resistance, appearance, and functionality, making them a crucial tool for wide range of industries in today's world. In addition, due to the increasing population, increasing demand for corrosion protection, technological advancements and changing consumer needs, the demand for coating additives can increase due to various applications.
The defoamers segment market is set to grow notably during the forecast period. Among coating additives, defoamers are expected to exhibit the second-highest CAGR because they help reduce blisters, spots and pinholes during coating processes. Growth of end use industries like construction and automotive industries call for better coatings which necessitate better defoaming systems. Furthermore, growing advances in the production methods of defoamer formulations as well as the improved compatibility with the relevant systems add to the attractiveness of the compound for manufacture. With increasing environmental standard and control resulting in directives of more environmentally friendly and hence waterborne coatings, need for foam management solutions enhances the growth of this segment.
Water-borne formulations are going to register the highest CAGR in the coating additives market for several reasons. Tighter environmental standards for lowering VOC emissions have also been the chief catalyst for the move towards these green solutions. Furthermore, increased understanding of the negative impact of chemical on the environment means that consumers prefer products that are water-based. Improvements have however been made in their performance and they are widely used in construction, automobile and industrial industries. In addition, the flexibility in application and clean up that comes with water-borne coatings makes them a popular choice with the customer and the end user.
Europe is the second largest coating additives market because it is a strong manufacturing hub in offering products in car, construction and via production processes that require high quality coatings. The environmental regulation in the region is high to support sustainable development of advanced additives even for low VOC formulations. Moreover, Europe is also a Centre for research and development to helping improve performance through formulation of better chemicals. Standardization of supplies and a broad network of additive manufacturers also contribute to future market increases in market access and products. These factors acting together to make Europe second largest market for coating additives.
The key players profiled in the report include BASF SE ( Germany ), ALTANA AG ( Germany ), Dow Inc. (US), Nouryon ( Netherlands ), Evonik Industries AG ( Germany ), Arkema ( France ), Eastman Chemical Company (US), Ashland Inc. (US), Clariant AG ( Switzerland ), Allnex GMBH ( Germany ), Elementis plc (UK), The Lubrizol Corporation (US), Momentive Performance Materials Inc. (US), and among others.
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