Global Coatings Additives Market Dynamics 2018 by Industry Opportunities and Driving Force 2025
The global Coatings Additives market is expected to grow from USD 7.46 billion in 2017 to USD 12.34 billion in 2025 at a CAGR of 6.49% during forecast period from 2018-2025. The Asia Pacific region reported highest growth rate in terms of volume due to unabated demand from housing, construction and wood and furniture industry segments of global coatings additives market.
‚??Global Coatings Additives market by Formulation (Solvent-borne, Water-borne and Powder based), Type (Acrylics, Fluoropolymers, Urethanes, Metallic Additive, Others), Function, Application‚??, and Global Forecast 2018-2025.
Prominent companies in coating additives markets are Evonik Industries, AkzoNobel NV, BASF AG, Arkema SA, BYK- Chemie GmbH, Eastman Chemicals, Dow Chemical Company Lubrizol Corporation some others. The increasing demand from the fields of architecture, industries, automobile, and wood & furniture industries due increased spending on housing and infrastructure as well as unabated demand for automobiles are the moving forces behind the growing demand for coating additives.
The formulation type is segmented into Solvent-borne, Water-borne and Powder based. Water borne formulations type segment is expected to maintain its grip on demand for coating additives on account of its ecofriendly and easy application process. Solvent borne formulations are getting phased out from the regions due to ban imposed in Europe and North America owing to its property of emmiting toxic fumes. The type segment is classified on the basis of Acrylics, Fluoropolymers, Urethanes, Metallic Additive and Others. Fluoropolymers and metallic additives for coatings segments are projected to witness highest growth rate at a CAGR of 8.43% with respect to other types during the forecast period on account its properties of chemicals, abrasion, temperature, and corrosion resistance. The Coating Additives by function are further subcategorized into Rheology Modification, Biocides Impact Modification, Anti-Foaming, Wetting & Dispersion and Others. Rheology modification function is projected to dominate the coating additives market during the forecast with projection to achieve 42.51% of total market revenue in 2025 due to its special property of providing better finishing to the coating surface. Biocides Impact Modification segment is also expected to achieve significant market share on account of its property protecting paint films against microbial damage. Applications Segment is segmented into architectural, automotive, industrial, wood & furniture and others. Demand for protective paints for constructed structures in developing economies is projected to boost application segment to achieve USD 2.90 billion in 2025.
Increased spending on infrastructure and housing development in developing economies of Asia Pacific are expected to fuel the demand over forecasted period for Coatings and paints in general and Coating additives in particular. Development of new coating additives with better abrasion, corrosion, liquid, chemical resistance are further expected to make market for coating additives larger. Supply side bottlenecks as well as volatility in crude oil price is proving to be the major drag on the growth.
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