Coating Additives Market Expected to Reach USD 12.74 Billion By 2027

Posted 2024-02-01 07:42:38

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Market Overview: The global Coating Additives Market is anticipated to experience a growth rate of 5.9%, progressing from USD 8.27 billion in 2019 to USD 12.74 billion in 2027. This growth is primarily attributed to heightened demand from packaging industries, the increasing popularity of Additive Manufacturing processes, a surge in environment-friendly coating technologies, a rising need for moisture and grease resistance, and a demand for Oxygen, water vapor, and aroma barrier packaging.

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Manufacturers are investing in the development of bio-based and environmentally friendly coating additives. Waterborne Coatings are creating growth opportunities in the market, offering benefits to the environment by meeting US and European regulations on volatile organic compound (VOC) emissions. Waterborne coatings exhibit VOC content of fewer than 3.5 pounds per gallon.

Ongoing research and development efforts, along with trend analysis, empower research teams to enhance paint performance, introducing innovations that stand out in the market. These innovations range from improved hiding, enhanced durability, and stain resistance to low- to no-VOC coatings, aligning with the increasing demand for environmentally friendly coatings.

Application Outlook: Architectural coatings, applied to the surfaces of structures or building exteriors, encompass decorative coatings, roof coatings, wall paints, and deck finishes. These organic coatings, designed for residential, institutional, commercial, or industrial buildings, enhance durability, provide protective functions, and beautify surfaces.

The global Architectural Coatings market is driven by factors such as increasing infrastructure spending, a rising demand for high-performance, eco-friendly, and durable coating materials for construction components, and a surge in renovation and refurbishment activities in developed nations like the U.S., Canada, Germany, Japan, Turkey, and Australia. Regulatory standards, such as the 'National Volatile Organic Compound (VOC) Emission Standards for Architectural Coatings' by the U.S. EPA, aim to control health hazards and environmental concerns.

Type Outlook: Acrylic coating additives find applications in various paint and coatings markets, being suitable for organic powder, water, or solvent-borne formulations. Used for decorative purposes and coating industrial products, acrylic surface coatings dominate Western Europe and the North American market.

Function Outlook: Waterborne coatings, utilized for waterproofing, crack filling, plaster additives, and damp-proofing, address the increasing demand for durable physical infrastructure. Their application in automotive, electronics, and the marine sector, coupled with their contribution to the paper and packaging industry, showcases their versatility. Strict government regulations against solvent-based coatings, driven by environmental concerns, further contribute to the adoption of waterborne coatings.

Regional Outlook: The Asia Pacific leads the coating additive market, with China as the largest exporter due to the availability of affordable raw materials. Major additive manufacturers' presence in China and the country's emphasis on research and development for innovative, green additives contribute to market growth. Increased government involvement in infrastructure development, particularly in India, China, and Japan, positively impacts market demand.

Market Highlights: Factors propelling market growth in developing nations include increased government support for urban development extension, a rise in living standards leading to higher demand for safe and comfortable living, and a growing population.

Architectural coatings gain traction in the construction industry due to their durability, corrosion resistance properties, and eco-friendly nature.

The coatings additives market in Europe experiences growth driven by an escalating demand for sustainable and specialized coating solutions.

Key Players: Major manufacturers in the market include AkzoNobel N.V., BASF SE, Ashland Inc., Arkema SA, BYK-Chemie GmbH, Evonik Industries AG, Eastman Chemical Company, Lonza Group Ltd., Momentive Performance Materials Inc., and Cabot Corp.

Start-up Traction: Startups entering the market include SAS Nanotechnologies, QLayers, Interface Polymers, Apellix, and Alucha Recycling Technologies, offering innovative products and technologies.

Deals Landscape: Mergers and acquisitions are integral to the coating additives industry. In July 2018, AkzoNobel partnered with Renmatix to develop biomass-derived additives for paint and construction.

Segments Covered in the Report: The report forecasts revenue growth globally, regionally, and at the country level, analyzing market trends in each sub-segment from 2018 to 2027. The report's scope includes:

Type Outlook (Revenue, USD Billion; 2017-2027)
- Acrylic Coating Additives
- Urethane Coating Additives
- Metallic Coating Additives
- Fluoropolymer Coating Additives
- Others
Application Outlook (Revenue, USD Billion; 2017-2027)
- Architectural Application
- Wood & Furniture
- Industrial Application
- Automotive
- Others
Function Outlook (Revenue, USD Billion; 2017-2027)
- Solvent-Borne
- Water-Borne
- Powder-Based
Regional Outlook (Revenue, USD Billion; 2017-2027)
- North America
  - U.S
  - Canada
- Europe
  - Germany
  - U.K
  - France
  - BENELUX
  - Rest of Europe
- Asia Pacific
  - China
  - Japan
  - South Korea
  - Rest of APAC
- Latin America
  - Brazil
  - Rest of LATAM
- MEA
  - Saudi Arabia
  - UAE
  - Rest of MEA

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