The market value Coating Additives Market is expected to grow by USD 7.65 Billion in 2020 and is expected to grow by USD 10.33 Billion by 2025 at the CAGR of about 6.2%.To improve the quality and performance of paints, some special solutions are known as coating additives that are added to paints. These additives are capable of providing characteristics like anti-restoration, reduction of solid dispersion, anti-chipping, reduction of wettability, improved UV protection of paint coatings, and paint control.
The rheology modification function will dominate the industry for coating additives during the foreseen period. The rheology modifiers help to have a better finish of the coating surface. Aqueous formulations dominate the industry among all types of formulation. With escalating environmental regulations, the industry share of coating additives for solvent-based systems is decreasing. Call is shifting towards water and powder-based coating additives due to strict environmental regulations. Coating additives are employed to improve the features of the product. Eliminate or reduce problems that arise in the formulation of production processes for paint systems. Coating additives are employed in small amounts but have a major impact on the coating. Pigments, binders, additives and mixtures are the main elements that improve the performance of the coating, thus escalating the industry call for coating additives. The coating additives are formulated in aqueous, solvent and powder form. Aqueous coatings contain water as a liquefaction agent, thereby dissolving the elements for the coating. Such a coating is employed for closed or compact areas and does not cause harmful emissions. In solvent-based coatings, organic solvents like polyurethanes and enamels are present in the coating that act as a liquefied agent. These coatings are dangerous in nature due to harmful emissions of solvents or volatile organic compounds (VOC).
Recent Developments and Trends
Coating Additives Market Drivers
The escalating use of urethane coating additives in construction, industrial and automotive applications is predicted to drive the worldwide industry during the foreseen period. Expansion in the construction sector, fueled by escalated infrastructure spending in emerging industries in Asia-Pacific and Latin America, is predicted to help increase call for coating additives to a significant level. Asia-Pacific is predicted to generate the highest call during the foreseen period due to escalated production of coating additives in China. Due to the vast research and development activities in North America, coupled with the growing awareness of green building and nano-coating, the worldwide industry for coating additives is predicted to increase during the foreseen period. Additionally, escalating environmental awareness and escalating government regulations focused on reducing VOC use are predicted to fuel Waterborne Coatings' expansion in the worldwide coating additive business during the foreseen period.
Volatility in the prices of raw materials like urethane, acrylate and silicones due to fluctuating petrochemical prices and the large gap between supply and call are predicted to pose a threat to industry players. Business in terms of price, supply of finished products and profitability. In addition, industrial discharges or solid waste from paints and coating materials interfere with local sanitary sewers, resulting in the release of pollutants into local waterways, escalating concern for environmental protection. This would further hinder the expansion of the coating additives industry during the foreseen period.
The main players in the coating additive industry are focused on the development of bio-based, water-based and environmentally friendly coating additives. Escalated investment in research and development (R&D) activities to develop advanced products that comply with environmental regulations are predicted to create lucrative opportunities for players during the foreseen period.
Fluctuations in the prices of raw materials like acrylate, silicones and urethane due to fluctuations in petrochemical prices are a major constraint on the expansion of the worldwide industry for coating additives. In addition, concerns related to the emission of harmful volatile organic compounds (VOCs) are another factor hindering the expansion of the worldwide industry for coating additives.
Coating Additives Market Segmentation:
Solvent based formulations are predicted to account for a dominant position in the foreseen period.
Coating Additives Regional Analysis:
The Coating Additives Report includes the segmentation of Regions with their respective Countries.
The global industry for coatings additives is experiencing strong expansion in emerging economies like Latin America and Asia-Pacific. This expansion is attributable to the increase in spending capacity, mainly in infrastructure. Also, the expansion of coating additive production units in countries like China and India is driving the expansion of the coating additive industry in the Asia Pacific. Asia-Pacific was the main region to cover the call for additives and represented the majority of the industry. India and China are the main consumers of coating additives in the Asia-Pacific area. Call is huge in these countries due to the large automobile and construction industry. The scenario for formulations is slightly different where coating additives for solvent-based systems occupied the majority in the Asia-Pacific area. Asia Pacific is also predicted to be the fastest growing industry for coating additives in the coming years.
Due to an economic crisis and declining production in Europe and North America, the expansion rate slows. However, due to the presence of large end-use industries, the region is predicted to experience lucrative expansion opportunities in the coming years. North America had the second largest industry share in the world industry for coatings additives. Aqueous formulations were the most widely employed in North America. The growing call from the aviation and maritime sector has been the main driver of the coating additives industry in this region. Europe had a lower share of the coatings additives industry due to strict environmental regulations associated with the paint and coatings industry, which led to lower industry performance.
Dominating makers of coating additives are creating innovative goods and expanding their geographic reach to meet the escalating call for functional additives. In addition, they also enter into long-term supply contracts with raw material suppliers and end users to have a strong presence in the worldwide industry. To acquire a substantial share of worldwide industry revenue, players are escalating investments in organic and inorganic expansion strategies.
Some of the significant players working in the worldwide coating additives industry are BASF, Clariant, IFC Coating, ALTANA, allnex group, AkzoNobel N.V., Arkema Group, Ashland Inc., BYK Additives & Instruments, The DOW Chemical Company, Solvay S.A., Evonik Industries AG, Momentive Performance Materials Inc., Eastman Chemical Company, Elementis PLC, The Lubrizol Corporation, Michelman, Inc., Croda International Plc, Cytec Industries Inc., Angus Chemical Company, Lonza Group, Buckman Laboratories International, Inc., Cabot Corp., Cytec Industries Inc., Daikin Industries Ltd., Dynea among others.
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3.1 Executive Summary
3.2 Key Inferences
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1.2 Rheology Modifiers
5.1.4 Wetting Agent
5.1.5 Impact Modifier
5.1.7 Y-o-Y Growth Analysis, By Function
5.1.7 Market Attractiveness Analysis, By Function
5.1.8 Market Share Analysis, By Function
5.2.5 Y-o-Y Growth Analysis, By Application
5.2.6 Market Attractiveness Analysis, By Application
5.2.7 Market Share Analysis, By Application
5.3.4 Powder Based
5.3.5 Y-o-Y Growth Analysis, By Formulation
5.3.6 Market Attractiveness Analysis, By Formulation
5.3.7 Market Share Analysis, By Formulation
6. Geographical Analysis
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
220.127.116.11 By Geographical Area
18.104.22.168 By Function
22.214.171.124 By Application
126.96.36.199 By Formulation
6.1.4 Market Attractiveness Analysis
188.8.131.52 By Geographical Area
184.108.40.206 By Function
220.127.116.11 By Application
18.104.22.168 By Formulation
6.1.5 Market Share Analysis
22.214.171.124 By Geographical Area
126.96.36.199 By Function
188.8.131.52 By Application
184.108.40.206 By Formulation
6.2 North America
6.1.2 United States
6.3.6 South Korea
6.5 Latin America
6.4.5 Rest of Latin America
6.6 Middle East & Africa
7. Strategic Analysis
7.1 PESTLE analysis
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8. Market Leaders' Analysis
8.1 BYK-Chemie GmbH
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.2 BASF SE
8.3 Arkema SA
8.4 AkzoNobel N.V.
8.5 Evonik Industries
9. Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10. Market Outlook and Investment Opportunities
a) List of Tables
b) List of Figures