Coating Additives Market
Coating Additives Market Study by Acrylic-Based, Urethane, and Metallic for Dispersants, Foam Control, and Wetting Agents from 2023 to 2033
Analysis of Coating Additives Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Coating Additives Market Outlook 2023 to 2033
Based on the analysis by Fact.MR, the global coating additives market is valued to be US$ 9.3 billion in 2023 and it is anticipated to grow at a CAGR of 5.0% to reach US$ 15.1 billion by the end of 2033.
Wide-ranging advantages of coating additives such as foam control, wetting agents, and dispersion properties are expected to witness healthy growth during the forecast period and the rising coatings market has an impact on the demand for coating additives.
| Report Attributes | Details |
|---|---|
| Coating Additives Market Size (2022A) | US$ 8.8 Billion |
| Estimated Market Value (2023E) | US$ 9.3 Billion |
| Forecasted Market Value (2033F) | US$ 15.1 Billion |
| Global Market Growth Rate (2023 to 2033) | ~5.0% CAGR |
| Key Companies Profiled | Eastman Chemical Company; Arkema SA; ANGUS Chemical Company; BASF SE; Ashland Inc.; Evonik Industries AG; Lonza Group Ltd.; Momentive Performance Materials Inc.; The Valspar Corporation; Daikin Industries Ltd.; Rhodia SA; Lubrizol Corporation; ICL Advanced Additives; Kamin LLC; Kenrich Petrochemicals, Inc.; King Industries, Inc.; Michelman, Inc.; Cabot Corporation |
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Historic and Future Pathway Analysis for the Coating Additives Market
Coating additives are substances added to coating material to improve the functional or other qualities. They play a vital role in enhancing the performance of paint formulations.
- Short Term (2023 to 2026): The growing influence of eco-friendly coating additives will add growth to the environment-friendly coating additives market.
- Medium Term (2026 to 2029): Growing economies of East Asian countries and government regulations will favor the growth of the coating additives market in medium term.
- Long Term (2029 to 2033): Expanding automotive industry coupled with the paint processing systems worldwide is anticipated to create abundant growth opportunities for the coating additives market in a long run.
According to the Fact.MR, a market research and competitive intelligence provider, the market is projected to exhibit growth at 5.0% CAGR between 2023 and 2033.
“Industrial Applications Stimulating the Growth of Coating Additives Market”
The rapid growth in the application of automotive and wood & furniture coating additives is expected to magnify the growth of coating additives in the forthcoming years.
Further, coating ingredients are used in construction paints to enhance the viscosity and the surface effectiveness of substrates. The need for paints and coatings is anticipated to increase as the construction sector expands. As a result, the market for coating additives is anticipated to develop over the following years, exhibiting a CAGR of 5.0% to reach beyond US$ 15.1 Bn by 2033.
Moreover, coating additives are a class of chemically created materials that have a variety of uses in different sectors and due to performance improvements the demand for coating additives is increasing across the automotive and other end-use industries.
In addition, the coating additives market expansion is greatly influenced by sustainability. Numerous industries and enterprises are turning to environmentally friendly materials as the world moves closer to environmental preservation. Manufacturers of coating additives use environmentally acceptable resources to produce the additives. The market for environmentally friendly coating additives will expand further as a result of expanding of these products.
“Volatility in Raw Material Prices Hamper Coating Additives Consumption”
One of the biggest issues faced by producers in the coating additives market is the price volatility of raw materials. Many of the chemicals used in the production of functional coating additives are essentially derivatives of crude oil. One of the key sources of raw materials, such as phenols and aromatic amines, for the production of functional additives, continues to be the oil and gas sector.
Crude oil price fluctuations continue to have a significant impact on the cost of raw materials used to make functional additives. The cost of functional additives is impacted by the volatility of raw material prices, which presents significant hurdles for manufacturers in terms of generating profits.
Further, concerns about environmental deterioration are growing as a result of rising emissions of volatile organic compounds (VOCs) and hazardous air pollutants (HAPs) from traditional coatings hampering the growth of the coating additives market.
The majority of governments have put restrictions on the use of dangerous and environmentally damaging coatings. Hence, limitations on the applications of coatings are likely to restrict the market for coating additives.
Country-wise Insights
What are the Factors Driving Coating Additives Demand Across the US?
The growing coating additives industry in the US plays a significant role in the growth of the US economy. The top coating additives producers, suppliers, raw material providers, and distributors are all part of the U.S. coatings industry. There are about 1,000 companies in the sector, and they operate in close to 1,300 locations.
Urban areas such as Chicago, Northern New Jersey, California, Florida, and Washington State are home to coating industry facilities. More than half of the paint sold in the US is shipped in the form of architectural coatings, and 90% of all architectural coatings sold there are water-based.
The United States economy greatly benefits from the construction sector. The US economy is dependent on a vast network of infrastructure, including, bridges, ports, electrical grids, and others. The nation's market for coating additives is primarily being propelled by expanding investment in the residential construction sector and rising demand for remodeling aging structures.
Why is the China Coating Additives Market Expected to Be Highly Lucrative?
Existence of numerous end-use industries and expanding development projects, the market is anticipated to reach new heights. Sales of coating additives have been further boosted by R&D investments, growing demand for paints and coating additives, expansion of production facilities, and an increase in architectural development in the nation.
Furthermore, the increasing use of coating additives in other non-traditional applications, apart from automotive coating and other applications, is also promoting market expansion.
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Category-wise Insights
Why is the Popularity of Architectural Application of Coating Additives Rising Rapidly?
The majority of coating additives are used in architecture, which lowers the frequency of periodic maintenance by improving building quality for a longer period of time.
Further, to provide resistance to corrosion, heat, and moisture in various applications such as underground pipelines, towers, and others industrial coating additives are frequently used. Different regional economic growth will progressively result in increased industrial activity, which is anticipated to benefit the market for architectural coatings additives.
In addition, architectural coatings are also widely used to create the air barriers necessary to improve energy efficiency in building enclosures. By preventing air from passing through the building, air barriers safeguard the structure and improve the effectiveness of the heating and cooling systems.
In commercial and institutional buildings, such as hospitals, schools, universities, and hotel lobbies, demand for high-performance coating additives is significantly increasing the sales of the product.
How are Rheology Modifiers Stimulating Sales of Coating Additives?
Automotive and architectural coatings are the main applications for rheology modifiers. They are utilized to modify elements like storage stability, soft texture, and film thicknesses as well as control flow viscosity, and are considered one of the most crucial qualities of coating compositions.
Further, the need for rheology additives is growing as coating additive benefits increase and coating manufacturers focus more on raising the caliber of their coatings. Making coatings more viscous, enhancing their textural qualities, and extending their shelf life significantly increase the demand for the product.
In addition, the need for rheology additives is anticipated to rise significantly since the flow behavior of coating formulations has a significant impact on application and film formation.
Eminent Players Key Stratagems
Prominent coating additives manufacturers are Eastman Chemical Company, Arkema SA, ANGUS Chemical Company, BASF SE, Ashland Inc., Evonik Industries AG, Lonza Group Ltd., Momentive Performance Materials Inc., The Valspar Corporation, Daikin Industries Ltd., Rhodia SA, Lubrizol Corporation, ICL Advanced Additives, Kamin LLC, Kenrich Petrochemicals, Inc., King Industries, Inc., Michelman, Inc., Cabot Corporation, and others.
The companies are predominantly focusing on research and development activities to have a distinctive product portfolio and cater to diverse applications. The company also develops new products for niche applications to keep a strong tap in the market.
Manufacturers are inclined towards adopting sustainable manufacturing processes to follow strict guidelines. Further, the development of standard product meeting end-use requirements augments coating additives’ growth. The producer ties up with the raw material supplier and provides global customers with professional, and stable quality. The primary focus of the company is to accelerate innovation across the product portfolio. Also, the manufacturers strategize long-term growth through acquisitions and divestitures.
Fact.MR has provided detailed information about the price points of key manufacturers of coating additives positioned across regions, sales growth, production capacity, and speculative technological expansion, in the recently published report.
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Segmentation of Coating Additives Industry Research
-
Coating Additives Market by Product :
- Acrylic-based
- Urethane
- Metallic
- Fluoropolymer
-
Coating Additives Market by Function :
- Rheology Modifiers
- Dispersants
- Foam Control
- Slip/Rub
- Wetting Agents
- Others
- Anti-Foaming
- Defoaming
-
Coating Additives Market by Formulation :
- Waterborne
- Solvent-based
- Powder
- High Solids
- UV Cure
- Others
- Radiation Curable
- Solvent-borne
- Solvent Less
-
Coating Additives Market by Application :
- Architectural
- Automotive
- Wood & Furniture
- Industrial
-
Coating Additives Market by Region :
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- Middle East & Africa
Table of Content
- 1. Market - Executive Summary
- 2. Market Overview
- 3. Market Background and Foundation Data
- 4. Global Demand (KT) Analysis and Forecast
- 5. Global Market - Pricing Analysis
- 6. Global Market Value (US$ million) Analysis and Forecast
- 7. Global Market Analysis and Forecast, By Product
- 7.1. Acrylic-based
- 7.2. Urethane
- 7.3. Metallic
- 7.4. Fluoropolymer
- 8. Global Market Analysis and Forecast, By Function
- 8.1. Rheology Modifiers
- 8.2. Dispersants
- 8.3. Foam Control
- 8.4. Slip/Rub
- 8.5. Wetting Agents
- 8.6. Others
- 8.6.1. Anti-Foaming Coating Additives
- 8.6.2. Defoaming Coating Additives
- 9. Global Market Analysis and Forecast, By Formulation
- 9.1. Waterborne
- 9.2. Solvent-based
- 9.3. Powder
- 9.4. High Solids
- 9.5. UV Cure
- 9.6. Others
- 9.6.1. Radiation Curable Coatings
- 9.6.2. Solvent-borne Coatings
- 9.6.3. Solvent Less Coatings
- 10. Global Market Analysis and Forecast, By Application
- 10.1. Architectural
- 10.2. Automotive
- 10.3. Wood & Furniture
- 10.4. Industrial
- 11. Global Market Analysis and Forecast, By Region
- 11.1. North America
- 11.2. Latin America
- 11.3. Europe
- 11.4. East Asia
- 11.5. South Asia & Oceania
- 11.6. Middle East & Africa
- 12. North America Market Analysis and Forecast
- 13. Latin America Market Analysis and Forecast
- 14. Europe Market Analysis and Forecast
- 15. East Asia Market Analysis and Forecast
- 16. South Asia & Oceania Market Analysis and Forecast
- 17. Middle East & Africa Market Analysis and Forecast
- 18. Country-level Market Analysis and Forecast
- 19. Market Structure Analysis
- 20. Competition Analysis
- 20.1. Eastman Chemical Company
- 20.2. Arkema SA
- 20.3. ANGUS Chemical Company
- 20.4. BASF SE
- 20.5. Ashland Inc.
- 20.6. Evonik Industries AG
- 20.7. Lonza Group Ltd.
- 20.8. Momentive Performance Materials Inc.
- 20.9. The Valspar Corporation
- 20.10. Daikin Industries Ltd.
- 20.11. Rhodia SA
- 20.12. Lubrizol Corporation
- 20.13. ICL Advanced Additives
- 20.14. Kamin LLC
- 20.15. Kenrich Petrochemicals, Inc.
- 20.16. King Industries, Inc.
- 20.17. Michelman, Inc.
- 20.18. Cabot Corporation
- 20.19. Other Players
- 21. Assumptions & Acronyms Used
- 22. Research Methodology
- FAQs -
What is the Global Coating Additives Market Size?
The global coating additives market is valued at US$ 9.3 billion in 2023.
How will the Market Perform during the Forecast Period?
During 2023-2033, sales of coating additives is forecasted to grow at 5.0% CAGR.
Which Regional Coating Additives Market Accounts for a Leading Market Share?
East Asia tops the global coating additives market accounting for 30.1% market share in 2023.
Which Sub-Segment of Product Type Holds the Highest Market Share?
The fluoropolymer sub-segment accounts for 20.2% share of global sales.
Who are the Major Players in the Coating Additives Market?
Market players include Eastman Chemical Company, Arkema SA, and ANGUS Chemical Company are majorly operating and dominating the market.
What are the Factors Driving the Coating Additives Sales Growth During the Forecast Period?
Factors such as growing demand for Coating Additives from the flourishing automotive industry and architectural coatings bolster sales growth of coating additives.
Coating Additives Market