Coating Additives Market Poised for Robust Growth – Set to Reach $15.85 billion by 2029
28 Jan, 2025
What Lead To The Progress Of The Coating Additives Market In The Past Years?
The coating additives market size has been witnessing substantial growth in recent years.
• The market size onwards from $10.16 billion in 2024, will grow to $11.06 billion in 2025, reflecting a commendable CAGR of 8.9%.
Factors resulting in this significant growth are the expansion of the construction industry, increased demand for paints and coatings, industrial manufacturing growth, heightened regulatory compliance, and rising environmental concerns.
What Is The Projected Market Size And Growth Rates For The Coating Additives Market?
The coating additives market is primed to exhibit impressive growth in the upcoming years.
• The market size is forecasted to soar to $15.85 billion in 2029, growing at a CAGR of 9.4%.
Factors contributing to this anticipated growth include infrastructure development, the automotive industry's growth, rapid urbanization, the increasing use of biodegradable additives, and the growth of emerging markets. Major trends include innovations in architectural coatings, customized additive solutions, technological advancements, introduction of specialty coatings, and high-performance additives.
How Is The Construction Sector Influencing The Coating Additives Market Growth?
The surge in constructional activities worldwide significantly fuels the coating additives market growth. Coating additives play a crucial role in improving substrate viscosity, surface effectiveness, and impact resistance in the construction sector. The adoption of eco-friendly additives to enhance wall and roof installations is rising while limiting environmental impacts. For instance, in March 2023, according to the United States Census Bureau, the privately owned housing units with approved building permits increased by 13.8% more than January's rate on a seasonally adjusted yearly basis.
What Are The Main Segments Of The Coating Additives Market?
The coating additives market analyzed in this report is segmented as follows -
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
What Trends Are Influencing The Coating Additives Market Currently?
Coating additives market companies focus on harnessing advancements like energy-curable coatings for metal coils, ensuring improved performance and sustainability. Energy-curable coatings harden upon exposure to energy sources, like ultraviolet (UV) light or electron beams, providing fast drying times and robust finishes. For example, PPG Industries, a US-based paint and coatings manufacturer, launched the PPG DURANEX in July 2024. The DURANEX offers backers, primers, basecoats, and clearcoats, catering to metal coil coaters wishing to enhance production processes and minimize environmental impact.
What Are The Dominant Companies In The Coating Additives Market?
Major companies navigating the coating additives 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
• Croda International plc
• DIC Corporation
• Emerald Performance Materials
• King Industries Inc.
• Lubrizol Corporation
• Munzing Chemie
• AkzoNobel Specialty Chemicals
• SI Group Inc.
• Specialty Polymers Inc.
• Synthomer plc
Which Region Dominates The Coating Additives Market?
Asia-Pacific was the largest and fastest-growing region in the coating additives market in 2024. The regions evaluated in the coating additives market report incorporate Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.