Coating Additives Market by Type (defoamers, wetting & dispersing agents, rheology modifiers), Formulation(water-borne, solvent-borne), Application(architectural, industrial, automotive & transportation, wood & furniture), Region - Global Forecast to 2028
Coating Additives Market
The global coating additives market is valued at USD 8.3 billion in 2023 and is projected to reach USD 10.5 billion by 2028, growing at 4.7% cagr during the forecast period. The strong demand for ecofriendly product and need for corrosion protection are key drivers in the coating additives market. This factor significantly contributes to a positive market outlook. Technological difficulties for innovation can lead to the real challenge for the market. However, increasing demand from building and construction sectors and expanding automotive and aerospace sectors propose growth opportunities for the coating additive market.
To know about the assumptions considered for the study, Request for Free Sample Report
Coating Additives Market Dynamics
Driver: Increasing demand for eco-friendly products
Manufacturers are at the forefront of steering this transformative shift through innovative approaches. The introduction of bio-based additives not only elevates the environmental friendliness of coatings but also aligns with conscientious consumers seeking eco-conscious products. As the market for bio-based additives continues to expand, a harmonious relationship emerges between consumer preferences and industrial responsibility. Consumers are increasingly directing their attention toward cleaner and more sustainable formulations for their coating and decorative requirements. This shift in consumer focus mirrors the global emphasis on sustainability, a trend prominently evident in the coating additives sector. Here, bio-based alternatives are gaining prominence, driven by the mounting demand for eco-friendly solutions from both consumers and industries. This surge underscores the heightened need for additives that contribute to reducing environmental impact.
Restraints: Raw material price instability
The erratic price fluctuations of vital raw materials used in coating additives formulation introduce a significant element of uncertainty for industry stakeholders. These price swings exert substantial pressure on production processes, resulting in cost escalations and narrower profit margins. This cascading effect has the potential to impose constraints on market expansion. In response to this volatile landscape, manufacturers must formulate innovative strategies to effectively navigate these fluctuations. As market participants grapple with the unpredictability of raw material costs, their strategic decisions will play a pivotal role in not only mitigating the impact of price swings but also propelling the coating additives market toward sustainable growth and enhanced resilience.
Opportunities: Growing automotive and aerospace sectors
The coating additives market is witnessing substantial growth, driven by the rapid expansion of the automotive and aerospace sectors. These industries are undergoing significant transformations, fueled by advancements in technology and evolving regulatory standards. In this dynamic landscape, the coating additives market plays a pivotal role by supplying essential components for the development of high-performance coatings. Additives are instrumental in creating coatings that meet the intricate demands of these industries. Consequently, the market's expansion is not only predictable but also fundamental to the success of the automotive and aerospace sectors during this era of remarkable transformation.
Challenges: Technological blockades to innovation
The coating additives market encounters significant technical hurdles that impede progress and innovation. The endeavor to create novel additives with advanced functionalities is a complex and challenging process. It necessitates a deep scientific understanding and technical proficiency to enhance coatings with exceptional qualities such as durability, stability, and compatibility. This journey of innovation entails rigorous testing across diverse applications to validate the effectiveness, safety, and sustainability of these additives. As the industry embarks on this transformative journey, the outcomes extend beyond mere commercial gains. They symbolize a collective effort to push boundaries, challenge established norms, and introduce coatings that will redefine industry standards in the future.
Coating Additives Market Ecosystem
Prominent companies in this market include well-established, financially stable aramid fiber manufacturers. These businesses have been in business for a while and have a extensive range of products, pioneering technologies, and strong international sales and marketing networks. Top companies in this market include Evonik Industries AG(Germany), ALTANA AG(Germany), BASF SE(Germany), Dow Inc.(US), Nouryon(Netherlands), Arkema S.A.(France), and ELEMENTIS PLC(UK).
“Based on type, wetting & dispersing agent is projected to be the fastest-growing market for coating additives, in terms of value, during the forecast period”
Wetting and dispersing agents play a pivotal role in architectural and construction coatings by ensuring the uniform distribution of pigments and additives. This not only enhances the overall performance of these coatings but also elevates their visual appeal. The escalating demand for wetting & dispersing agents is primarily fueled by two key factors. Firstly, there's a growing need for higher solid content in coatings, which results in improved color acceptance. Secondly, there's a simultaneous drive to reduce VOC content in formulations to align with stringent environmental regulations observed in various regions. Additionally, there's a notable surge in demand for pigment dispersing agents, and the industry is witnessing heightened requirements for achieving precise color reproducibility. These dynamics underscore the significance of wetting & dispersing agents within the coatings market.
“Based on application, architectural is projected to be the fastest-growing segment for coating additives market, in terms of value, in 2022
The field of architecture is poised to experience rapid growth within the coating additives market. Coating additives play a pivotal role in safeguarding architectural structures against detrimental environmental elements. Their application serves a dual purpose: enhancing the visual appeal of the structures while providing vital protection against moisture, UV radiation, chipping, and similar factors. Coating additives contribute significantly to elevating the performance of architectural coatings. They play a vital role in enhancing crucial aspects like durability, weather resistance, and overall appearance. These attributes are of paramount importance for the construction and maintenance of buildings and infrastructure, making architectural coatings a vital segment within the market.
“Based on formulation, water borne coating is projected to be the fastest-growing segment for coating additives market, in terms of value, in 2022
Waterborne coatings are highly regarded for their eco-friendly attributes, notably their minimal Volatile Organic Compound (VOC) content in comparison to solvent-borne coatings. The utilization of water-borne coating additives is prevalent in sectors where environmental concerns and the imperative of low VOC emissions take precedence. These sectors encompass architectural, automotive & transportation, wood & furniture, and packaging coatings. This segment presents a substantial market opportunity for manufacturers who seek to invest in a potentially expanding market. Notably, the increasing awareness among consumers regarding the use of hazardous chemicals in paints has been a driving force behind the burgeoning demand for water-borne coating additives, making it an appealing and responsive market.
“Asia Pacific is projected to be the fastest growing region during the forecast period, in terms of value”
The Asia Pacific region emerges as a highly enticing global market for coating additives, presenting substantial growth prospects in the foreseeable future. This market in the Asia Pacific demonstrates robust growth trends, expected to persist, thanks to the upswing in residential construction and enhanced home renovation practices. What makes this region particularly attractive is the escalating demand witnessed across critical sectors like industry, construction, furniture, and automotive. The remarkable developments occurring in the Asia Pacific are underlined by its significant population growth and an upward trajectory in living standards. Equally noteworthy are factors such as the surge in employment rates, increased disposable income among the populace, and heightened foreign investments across diverse sectors of the economy. Collectively, these elements enhance the Asia Pacific's standing as a vibrant and promising market for coating additives.
To know about the assumptions considered for the study, download the pdf brochure
Coating Additives Market Players
The key players profiled in the report include Evonik Industries AG(Germany), ALTANA AG(Germany), BASF SE(Germany), Dow Inc.(US), Nouryon(Netherlands), Arkema S.A.(France), and ELEMENTIS PLC(UK). among others, are the key manufacturers that holds major market share in the last few years. Major focus was given to the collaborations, partnerships and new product development due to the changing requirements of users across the world.
Coating Additives Market Report Scope
|
Report Metric |
Details |
|
Market Size Value in 2023 |
USD 8.3 billion |
|
Revenue Forecast in 2028 |
USD 10.5 billion |
|
CAGR |
4.7% |
|
Years considered for the study |
2017–2028 |
|
Base year considered |
2022 |
|
Forecast period |
2023–2028 |
|
Units considered |
Volume (Kiloton) and Value (USD Million/Billion) |
|
Segments covered |
Type, Formulation, Application, and Region |
|
Regions covered |
Asia Pacific, North America, Europe, Middle East & Africa, and South America |
|
Companies profiled |
Evonik Industries AG(Germany), ALTANA AG(Germany), BASF SE(Germany), Dow Inc.(US), Nouryon(Netherlands), Arkema S.A.(France), ELEMENTIS PLC(UK), Allnex GMBH(Germany), Arkema S.A.(France), Eastman Chemical Company(US), Ashland Inc.(US), Lubrizol Corporation(US), Clariant AG(Switzerland), MÜNZING Corporation(Germany), Momentive Performance Materials Inc.(US), Huntsman Corporation(US), Solvay S.A.(Belgium), Deuteron GmbH(Germany), Israel Chemicals Limited (ICL)( Israel), IRO Group Inc.(China), Raj Specialty Additives(India), Angus Chemical Company(US), Croda International Plc(UK), Buckman Laboratories International, Inc.(US), Michelman, Inc.(US), UNIQCHEM GmbH(Germany) |
This report categorizes the global coating additives market based on type, formulation, application, and region.
On the basis of type, the coating additives market has been segmented as follows:
- Defoamers
- Wetting & Dispersing Agents
- Rheology Modifiers
- Others
On the basis of formulation, the coating additives market has been segmented as follows:
- Water-Borne
- Solvent-Borne
- Others
On the basis of applications, the coating additives market has been segmented as follows:
- Architectural
- Industrial
- Automotive & Transportation
- Wood & Furniture
- Others
On the basis of region, the coating additives market has been segmented as follows:
- Asia Pacific
- Europe
- North America
- Middle East & Arica
- South America
Recent Developments
- In 2021, ALTANA’s BYK expanded its capabilities with the launch of a high-throughput screening plant in Wesel, Germany. This innovative digital laboratory, featuring the world's largest Flexshuttle facility, doubled BYK's application technology capacity.
- In 2022, BASF augmented its production capacity for its hindered amine light stabilizers (HALS) at facilities in Pontecchio Marconi, Italy and Lampertheim, Germany. This strategic investment is part of the company’s comprehensive plan to meet the surging demand for light stabilizers in durable coating applications while ensuring a secure supply chain for their global clientele.
- In 2021, Nouryon introduced Thioplast EPS 35, an innovative solution that enables high-performance coatings and adhesives to withstand harsh environments in the construction, automotive, aerospace, marine, and energy industries.
Frequently Asked Questions (FAQ):
What are the major developments impacting the market?
The chances for use coating additives in automotive and construction industry are expected to shift market trends.
Who are major players in coating additives market?
Evonik Industries AG(Germany), ALTANA AG(Germany), BASF SE(Germany), Dow Inc.(US), Nouryon(Netherlands), Arkema S.A.(France), ELEMENTIS PLC(UK), Allnex GMBH(Germany), Arkema S.A.(France), Eastman Chemical Company(US), and Ashland Inc.(US).
What is the major application of coating additives?
Architectural is the major application for coating additives market during the forecast period.
What are the major factors restraining market growth during the forecast period?
Raw material price volatility of coating additives
What are the various strategies key players are focusing within coating additives market?
Key players are majorly focused on new product launch and partnering with local or regional players within the market, in order to attract larger market share globally. .
To speak to our analyst for a discussion on the above findings, click Speak to Analyst
The study involved four major activities in estimating the market size for coating additives market. Intensive secondary research was done to gather information on the market, the peer market, and the parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. Post that, the market breakdown and data triangulation procedures were used to estimate the market size of the segments and subsegments.
Secondary Research
Secondary sources used in this study included annual reports, press releases, and investor presentations of companies; white papers; certified publications; articles from recognized authors; and gold standard & silver standard websites such as Factiva, ICIS, Bloomberg, and others. The findings of this study were verified through primary research by conducting extensive interviews with key officials such as CEOs, VPs, directors, and other executives. The breakdown of profiles of the primary interviewees is illustrated in the figure below:
Primary Research
The coating additives market comprises several stakeholders, such as raw material suppliers, end-product manufacturers, and regulatory organizations in the supply chain. The demand side of this market is characterized from key opinion leaders in various applications for the coating additives market. The supply side is characterized by advancements in technology and diverse application industries. Various primary sources from both the supply and demand sides of the market were interviewed to obtain qualitative and quantitative information.
Breakdown of Primary Participants
To know about the assumptions considered for the study, download the pdf brochure
Note: Tier 1, Tier 2, and Tier 3 companies are classified based on their market revenue in 2022 available in the public domain, product portfolios, and geographical presence.
Other designations include consultants and sales, marketing, and procurement managers.
|
COMPANY NAME |
DESIGNATION |
|
ELEMENTIS PLC |
Global Strategy & Innovation Manager |
|
ALTANA AG |
Technical Sales Manager |
|
BASF SE |
Senior Supervisor |
|
Dow Inc. |
Production Supervisor |
|
Nouryon |
Production Manager |
Market Size Estimation
Both top-down and bottom-up approaches were used to estimate and validate the total size of the coating additives market. These methods were also used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the market size includes the following:
- The key players in the industry have been identified through extensive secondary research.
- The supply chain of the industry has been determined through primary and secondary research.
-
All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.
- All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to obtain the final quantitative and qualitative data.
Coating additives Market: Bottom-Up Approach
To know about the assumptions considered for the study, Request for Free Sample Report
Coating additives Market: Top-Down Approach
Data Triangulation
After arriving at the overall market size—using the market size estimation processes as explained above—the market was split into respective segments and subsegments. To realize the overall market engineering process and arrive at the exact statistics of each market segment and subsegment, the data triangulation, and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying several factors and trends from both the demand and supply sides in the coating additives industry.
Market Definition
According to Americans Coating Associations, “Coating additives are chemical substances that are added to coatings to improve their performance and properties. These additives can be used to enhance the coating’s durability, adhesion, color, and other characteristics.” These materials are used to realize some desired properties during production, storage, or application stages. Here, the coating material can be defined as a product in the form of powder, liquid, or paste, which when applied to the surface, forms a decorative or protective film. The amount of additives in the coating formulation is not kept more than 5% by weight, where one single additive is usually around 1.5% by weight. According to its end-use application, different additives like thickening agents, catalytically active additives, and surface active & leveling agents among others are different types which vary in their chemical composition and formulations.
Key Stake Holders
- Coating additives manufacturers
- Raw material manufacturers
- Government planning commissions and research organizations
- Industry associations
- End-use industries
- R&D institutions
Report Objectives
- To analyze and forecast the size of the coating additives market in terms of volume and value
- To provide detailed information regarding key factors, such as drivers, restraints, challenges, and opportunities influencing the growth of the market
- To define, describe, and segment the coating additives market based on type, formulation and application
- To forecast the size of the market segments for regions such as Asia Pacific, North America, Europe, South America, and the Middle East & Africa
- To strategically analyze the segmented markets with respect to individual growth trends, prospects, and contribution to the overall market
- To identify and analyze opportunities for stakeholders in the market
- To strategically profile key players and comprehensively analyze their core competencies
Available Customizations
Along with the given market data, MarketsandMarkets offers customizations according to the company’s specific needs. The following customization options are available for the report:
Regional Analysis
- Further breakdown of a region with respect to a particular country or additional application type
Company Information
- Detailed analysis and profiles of additional market players (up to five)
Growth opportunities and latent adjacency in Coating Additives Market
Hi, is there an updated version of this report?
Need procurement and market intelligence on Coating Additives with data in volume terms in various applications.
We need Silicone- Defoamers equivalent to BASF companys product
Global marketing potential of Fluorescent pigments, inks and dyes.
top additives suppliers for architecture and industrial coating and their market share globally by formulation.
interested in the market size (and ideally forecast) of glass, glass powder, glass-fibre-reinforced polymers as an additive/ filler material in various applications, amongst others: coatings.
Found our data interesting (can pitch Pipe Coatings Market report)
Wante to know the process of or the formulation of MMA based road marking paint & anti carbonation coating