World Coating Additives Market is expected to grow at a CAGR of 6.9% to reach $11,020 million by 2022 : Acute Market Reports
Coating additives perform various functions, such as anti-foaming, wetting & dispersion, rheology modification, biocidal, impact modification, and others to overcome surface defects and problems that arise during application of paints or post drying. The global coating additives market was valued at $6,928 million in the year 2015 and is expected to grow at a CAGR of 6.9% to reach $11,020 million by 2022.
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Anti-foaming is a process of reducing or preventing foam formation on paint films or coatings. Wetting and dispersion provide stabilization to films by using deflocculating effect. Rheology modification relates to the change in the structure or flow of materials due to external stress to improve the thickness and viscosity of coated surfaces. Biocides prevent paint films from microbial damage, including fungal and algae growth caused due to humid surroundings or contamination. Impact modification is mainly used for sheets, packaging films, and others to prevent deformation of surface. Other functions of these additives include drying, surface modification, leveling, and anti-settling, anti-sagging, and other properties.
The report on the world coating additives market exclusively focuses on current market trends and future growth opportunities of various coating additives that are used to enhance the performance of coatings. It includes different coating formulations such as water borne coatings, solvent borne coatings, powder coatings, radiation curable coatings, and solvent less coatings. It focuses on various coating additives end user industries, such as automotive, architectural, industrial, wood & furniture, and others. Moreover, it analyzes the current market trends of coating additives across different geographies and suggests the future growth opportunities by analyzing the government regulations & policies, thereby increasing the consumer acceptance for coating additives.
The key players in the world coating additives market are adopting different key business strategies such as acquisitions, expansions, collaborations, product launches, and technological advancements to withstand competition in the global competitive market. The market players profiled in this report are coating additive manufacturers and suppliers who serve the product globally to several end-user industries such as automotive, architectural, industrial, and others. The data pertaining to the market players and their strategic moves are gathered through annual reports and press releases of respective companies, various blogs, available on the website and primary calls made to the experts in the industry.
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The above pie chart represents the percentages split of the strategies adopted by the top companies operating in the global coating additives market. Expansion is the leading strategy adopted by the key players in this market followed by acquisition, product launch, collaboration and technological advancements in order to widen their geographic reach in coating additives market. Expansion and acquisition covers 57% and 22% share respectively out of the total number of strategies adopted by the leading companies during 20112016.
Coatings consist of different elements such as pigments, binder, additives, mixtures, and others that enhance the functioning of the coatings. Different formulations of coating are present for its applications, namely water-borne coatings, solvent-borne coatings, powder coatings, radiation curable coatings, and solvent less coatings.
Water-borne coatings contain water as liquefying agents to dissolve all the elements for coating. It is used for closed or compact areas and does not cause any harmful emissions. In solvent-borne coatings, different organic solvents such as polyurethanes, enamels, and others are present that act as liquefying agent. These coatings are hazardous in nature due to emission of harmful solvents or volatile organic compounds (VOCs). Powder-borne coatings involve electrostatic attraction to apply paints and provide proper coating finish with desirable thickness, increased coating durability, and flexibility. Radiation curable coatings form the most emerging technology in the coating additives market, which uses ultraviolet (UV), visible light or low energy electrons for curing coating or films. Solvent less coatings are premium coatings used mainly in structural and floor coatings. They do not contain any solvent for liquefying process and provides rapid curing at low temperature with zero emission. These different types of coatings require different formulation of coating additives as per the requirements from various end user industries such as automotive, industrial, architectural, wood & furniture, and others.
The growth in awareness regarding environmental concerns and government regulations to minimize the use of VOCs in coatings is the major factor that drives the growth of water borne coatings in the coating additives market. End users such as automotive, industrial, wood & furniture, and others focus on water borne coatings to reduce the expenditure or fines related to environmental compliance advising or exceeding VOCs level. Technological advancement in manufacturing areas with a focus on expansion of its application such as chemical resistance, water resistance, flexibility, and others fulfilling government regulations, can be a growth opportunity for water borne coatings market.
In August 2016, Brazil offered various investment opportunities to Qatar for development in various key sectors such as automotive, real estate, and agribusiness to enhance the business growth potential. Such developments have led to increased requirement of coatings such as powder coatings, waterborne coatings, radiation curable coatings, solvent less coatings in automotive, and architectural industry along with improved coating properties such as anti-foaming, corrosion resistance, mechanical strength, and others. This will require more use of coating additives to perform more efficiently, which fuels the coating additives market in LAMEA region.
UAE has signed tariff-free agreements with countries in Europe, the Middle East, and Africa to promote manufacturers to set up factories in Egypt to tap the lucrative market, which has nearly 1.6 billion consumers. The African consumer appliances market is driven by growth in demand for technology-based products, which drives the coating additives market in this region during the forecast period.
The key players profiled in the report include AkzoNobel N.V., Arkema SA, Ashland Inc., BASF SE, BYK-Chemie GmbH, The DOW Chemical Company, Solvay, Evonik Industries AG, Momentive Performance Materials Inc., and Eastman Chemical Company. The vast product portfolio of coating additives and strong distribution network characterize the market dominance of these companies.Other companies in this market include Elementis PLC, The Lubrizol Corporation, Michelman, Inc., Croda International Plc, and Cytec Industries Inc.
- This report provides an extensive analysis of the current trends, future estimations, and dynamics from 2014 to 2022 of the global coating additives market, which assists to identify the prevailing opportunities.
- Geographically, the market is analyzed based on various regions such as North America, Europe, Asia-Pacific, and LAMEA.
- Exhaustive analysis predicts the applications that are currently used along with the variants that would gain prominence in the future.
- Competitive intelligence of leading manufacturers and distributors highlights the competitive scenario across the geographies.
- An in-depth analysis of current research and developments within the market is provided with key dynamic factors that interpret the market behavior.
- Extensive analysis is conducted by following key product positioning and monitoring the top competitors within the market framework.
- Key market players are profiled and their strategies are analyzed thoroughly, which portrays the competitive outlook.
COATING ADDITIVES MARKET KEY SEGMENTS:
By FormulationWater Based
Wetting & Dispersion
By End User
Wood & Furniture
The DOW Chemical Company
Evonik Industries AG
Momentive Performance Materials Inc.
OTHER COMPANIES ACTIVE IN VALUE CHAIN INCLUDE:
The Lubrizol Corporation
Croda International Plc
Cytec Industries Inc.
Chapter: 1 INTRODUCTION
1.1 Report Description
1.2 Key Market Benefits
1.3 Key Market Segments
1.4 Research Methodology
1.4.1 Secondary Research
1.4.2 Primary Research
1.4.3 Analyst Tools and Models
Get Complete Report @ Global Coating Additives Market 2022
Chapter: 2 EXECUTIVE SUMMARY
2.1 CXO Perspective
Chapter: 3 MARKET OVERVIEW
3.1 Market Definition and Scope
3.2 Key Findings
3.2.1 Top investment pockets
3.2.2 Top player positioning
3.3 Porters Five Forces Analysis
22.214.171.124 Bargaining power of suppliers
126.96.36.199 Bargaining power of buyers
188.8.131.52 Threat of substitutes
184.108.40.206 Threat of new entrants
220.127.116.11 Competitive rivalry
3.4 Market Dynamics
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