Key Coating Additives Market Report 2024 – Market Size, Trends, And Forecast 2024-2033
The Business Research Company’s Key Coating Additives Global Market Report 2024 – Market Size, Trends, And Forecast 2024-2033
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The coating additives market is projected to grow from $9.36 billion in 2023 to $10.22 billion in 2024, achieving a CAGR of 9.2%. Growth factors include the expansion of the construction industry, increased demand for paints and coatings, industrial manufacturing growth, and rising environmental concerns and regulatory compliance.
Global Coating Additives Market Size: What Are the Forecasts for Market Growth and Annual Expansion?
The market is projected to grow to $14.36 billion by 2028, at a CAGR of 8.9%. Growth factors include infrastructure development, demand from the automotive industry, rapid urbanization, increased use of biodegradable additives, and market expansion in emerging regions. Key trends will encompass innovations in architectural coatings, customized additive solutions, technological advancements, specialty coatings, and the introduction of high-performance additives.
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What Are The Key Growth Drivers In The Coating Additives Market?
The robust expansion of the construction sector is driving growth in the market. Coating additives are essential for enhancing the viscosity, surface effectiveness, and impact resistance of construction materials. The surge in residential and commercial construction activities, coupled with the adoption of eco-friendly additives, supports improved building installations. According to the U.S. Census Bureau, the number of privately owned housing units approved for building permits increased by 13.8% in February 2023 compared to January, indicating strong market momentum for coating additives.
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Who are the Key Industry Players Stepping Up in the Coating Additives Market?
Major companies operating in the market include Akzo Nobel NV, Allnex Netherlands BV, ANGUS Chemical Company, Arkema SA, Ashland Global Holdings Inc., BYK Additives & Instruments, Cabot Corporation, Clariant AG, Dow Chemical Co., Eastman Chemical Company, Elementis PLC, Evonik Industries AG, Ineos Group AG, Kamin LLC, Keim additec surface GMBH, Kyoeisha chemical co. ltd., Michelman Inc., Momentive Performance Materials Inc., Rhodia SA, Shamrock Technologies, Solvay SA, BASF SE, ADEKA Corporation, Allnex, Croda International plc, DIC Corporation, Emerald Performance Materials, King Industries Inc., Lubrizol Corporation, Michelman Inc., Munzing Chemie, AkzoNobel Specialty Chemicals, SI Group Inc., Specialty Polymers Inc., Synthomer plc
What Trends Are Shaping The Growth Of The Coating Additives Market Size?
The market is witnessing the introduction of advanced additives. In October 2023, Evonik Industries AG launched TEGO Rad 2330, a radically crosslinkable coating additive that enhances slip and substrate wetting in various applications.
What Are the Different Segments of the Global Coating Additives Market?
The coating additives market covered in this report is segmented –
1) By Type: Acrylics, Fluoropolymers, Urethanes, Metallic Additive, Other Types
2) By Function: Anti-foaming, Wetting & Dispersion, Rheology modification, Biocides, Impact Modification, Other Functions
3) By Application: Architectural Application, Automotive, Industrial Application, Wood & Furniture, Other Applications
Geographical Insights: Asia-Pacific Leading The Coating Additives Market
Asia-Pacific was the largest region in the market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Definition of the Coating Additives Market
Coating additives are specialized materials engineered to enhance performance by modifying the properties of coating formulations, such as anti-foaming, wetting, and dispersing characteristics. They help eliminate defects in coatings and impart specific desired qualities.
The Coating Additives Global Market Report 2024 from The Business Research Company includes the following key information:
• Market size data for both historical and future periods
• Analysis of both macro and microeconomic factors that have impacted the market over the past five years
• Regional market analysis covering Asia-Pacific, China, Western Europe, Eastern Europe, North America, the USA, South America, and the Middle East and Africa
• Country-specific market analysis for Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA.
Overview of the Global Coating Additives Market Report: Trends, Opportunities, Strategies, and More
The Coating Additives Global Market Report 2024 from The Business Research Company is an extensive resource that delivers insights into coating additives market size, coating additives market drivers and trends, coating additives market major players, coating additives competitors' revenues, coating additives market positioning, and coating additives market growth across geographies. This report provides valuable in-depth insights into potential opportunities and strategies. Companies can utilize the information presented to target segments with the greatest growth potential.
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