The Global Coating Additives Market size is expected to reach $11.8 billion by 2027, rising at a market growth of 4.8% CAGR during the forecast period.
Coating additives are some of the most significant ingredients in a coating's formulation since they help influence the coating's performance. These additives are used in a variety of applications, including furniture and construction, as well as automotive coatings. Coating additives are increasingly being employed to alter the rheology, wetting and dispersion capabilities, anti-fouling, and anti-foaming properties of coating compositions. With tighter environmental rules, the use of aqueous and powder coatings is becoming more popular.
Manufacturers are also devoting more resources to the development of environmentally friendly bio-based and water-borne coating additives, which are anticipated to expand market prospects in the near future. In the future years, the aforementioned factors are projected to have an impact on the global market for coating additives.
Coating additives are the type of solutions used to improve the quality and performance of paints. Coating additives are used to improve product qualities and remove or decrease difficulties that arise during the formulation and manufacturing of paint systems, attributed to improvements in coating additives technology. They are utilized in tiny quantities, but they have a significant impact on the size of the coating additives industry. Coating additives are becoming more and more essential to meet zero-VOC emission standards. Governments all across the world are stepping up their efforts to minimize carbon emissions from construction.
The World Health Organization declared COVID-19 a public health emergency on March 11, 2020, after it has spread to over 213 countries around the world. Germany, France, Italy, Spain, the United Kingdom, and Norway are among the major economies affected by the COVID-19 crisis. The majority of coating additives are used in the automotive, industrial, and architectural industries.
Due to a scarcity of resources in various regions of the world, the COVID-19 pandemic has had a detrimental influence on the manufacturing and industrial industries. Various techniques are being used by the companies to increase production volume, and they are attempting to develop innovative solutions at an affordable price that can meet customer requirements at a lower cost while also supporting the overall breakthrough required for increased product penetration and sustainability.
Based on the Type, the coating additives market is segmented into Acrylic, Fluoropolymers, Urethanes, Metallic Additives, and Others. In 2020, the Fluoropolymers segment accounted for a significant revenue share of the coating additives market. The expediting growth of this segment is attributed to the high performance of the fluoropolymers. In addition, these coatings comprise a superior dry film which also enhances the quality of the coating. Due to the requirement of a coating additive that offers excellent quality coating, the demand for this segment across the market is propelling.
Based on the formulation, the coating additives market is divided into Water-borne Coating, Solvent-borne Coating, Solventless Coating, and Powder Coating. In 2020, the water-borne coating segment obtained the largest revenue share of the coating additives market. The growth of this segment is increasing due to the increasing utilization of water-borne coating. The utilization of water-borne coating is increasing due to the attribute that this technology comprises lesser odor, enhanced durability, stable color, and low availability of VOC.
Based on the End-user, the coating additives market is classified into Architectural, Industrial, Automotive, Wood & Furniture, and Others. In 2020, the automotive segment followed the architectural segment by holding the second largest revenue share of the coating additives market. The increasing utilization of coating additives across the automotive industry due to its property of preventing corrosion and offering a more tractive finish to the vehicle is majorly contributing to increasing the growth of this segment across the market.
Based on the Function, the Coating additives market is segregated into Anti-foaming, Wetting & Dispersion, Rheology modification, Biocides, and Impact Modification. In 2020, the anti-foaming segment accounted for a significant revenue share of the coating additives market. The rising growth of this segment of the market is a result of its property of eliminating the formation of foam in the solution. This feature allows the customer to eliminate the disruption that is caused by the occurrence of foam while preparing the solution.
Based on the region, the coating additives market is analyzed across North America, Europe, APAC, and LAMEA. In 2020, the coating additives market was dominated by APAC as the region accounted for the largest revenue share of the market. The increase in the growth of the market across this region is owing to multiple factors viz. rising disposable income of people of countries across the region along with a stable economy as well as constantly rising living standards of the population of this region.
The major strategies followed by the market participants are Acquisitions. Based on the Analysis presented in the Cardinal matrix; The Dow Chemical Company, Lanxess AG and Clariant AG are the forerunner in the Coating Additives Market. Companies such as BASF SE, Arkema S.A., Evonik Industries AG are some of the key innovators in the Market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Akzo Nobel N.V., The Dow Chemical Company, BASF SE, Arkema S.A., Evonik Industries AG (RAG-Stiftung), Momentive Performance Materials, Inc., Lanxess AG, Eastman Chemical Company, Clariant AG, and Elementis PLC.
Coating additives are some of the most significant ingredients in a coating's formulation since they help influence the coating's performance. These additives are used in a variety of applications, including furniture and construction, as well as automotive coatings. Coating additives are increasingly being employed to alter the rheology, wetting and dispersion capabilities, anti-fouling, and anti-foaming properties of coating compositions. With tighter environmental rules, the use of aqueous and powder coatings is becoming more popular.
Manufacturers are also devoting more resources to the development of environmentally friendly bio-based and water-borne coating additives, which are anticipated to expand market prospects in the near future. In the future years, the aforementioned factors are projected to have an impact on the global market for coating additives.
Coating additives are the type of solutions used to improve the quality and performance of paints. Coating additives are used to improve product qualities and remove or decrease difficulties that arise during the formulation and manufacturing of paint systems, attributed to improvements in coating additives technology. They are utilized in tiny quantities, but they have a significant impact on the size of the coating additives industry. Coating additives are becoming more and more essential to meet zero-VOC emission standards. Governments all across the world are stepping up their efforts to minimize carbon emissions from construction.
COVID-19 Impact Analysis
The World Health Organization declared COVID-19 a public health emergency on March 11, 2020, after it has spread to over 213 countries around the world. Germany, France, Italy, Spain, the United Kingdom, and Norway are among the major economies affected by the COVID-19 crisis. The majority of coating additives are used in the automotive, industrial, and architectural industries.
Due to a scarcity of resources in various regions of the world, the COVID-19 pandemic has had a detrimental influence on the manufacturing and industrial industries. Various techniques are being used by the companies to increase production volume, and they are attempting to develop innovative solutions at an affordable price that can meet customer requirements at a lower cost while also supporting the overall breakthrough required for increased product penetration and sustainability.
Market Growth Factors:
The increasing popularity of Architectural Application of Coating Additives
Architecture is the most common application of coating additives, which improve the quality of building structures for a longer period of time, reducing the need for periodic maintenance. The building industry is seeing an increase in the demand for wood coating additives. Economic growth in many regions is expected to inevitably lead to increased industrial activity, which is expected to benefit the architectural coatings additives market.Enhances customer experience
Coatings additives are a subset of chemically modified materials that are used in a variety of industries. Because of the performance benefits that these materials provide, their application in coating formulations is becoming increasingly common. They enhance the formulation's chemical properties, such as wettability, dispersion, rheology, UV protection, chemical resistance, and high-temperature stability. They are frequently employed in a variety of industrial industries that are subjected to harsh conditions.Marketing Restraining Factor:
Additives are restricted in solvent-based paints and coatings due to rigorous regulations.
The use of additives is restricted by the rigorous limitations imposed by many governments and associations on the use of solvent-based paints and coatings containing volatile organic compounds (VOCs). These rules apply to both manufacturers and consumers of paints and coatings. The National Volatile Organic Compound Emission Standards for Consumer and Commercial Products, for example, are set by the United States Environmental Protection Agency (EPA).
Type Outlook
Based on the Type, the coating additives market is segmented into Acrylic, Fluoropolymers, Urethanes, Metallic Additives, and Others. In 2020, the Fluoropolymers segment accounted for a significant revenue share of the coating additives market. The expediting growth of this segment is attributed to the high performance of the fluoropolymers. In addition, these coatings comprise a superior dry film which also enhances the quality of the coating. Due to the requirement of a coating additive that offers excellent quality coating, the demand for this segment across the market is propelling.
Formulation Outlook
Based on the formulation, the coating additives market is divided into Water-borne Coating, Solvent-borne Coating, Solventless Coating, and Powder Coating. In 2020, the water-borne coating segment obtained the largest revenue share of the coating additives market. The growth of this segment is increasing due to the increasing utilization of water-borne coating. The utilization of water-borne coating is increasing due to the attribute that this technology comprises lesser odor, enhanced durability, stable color, and low availability of VOC.
End Use Outlook
Based on the End-user, the coating additives market is classified into Architectural, Industrial, Automotive, Wood & Furniture, and Others. In 2020, the automotive segment followed the architectural segment by holding the second largest revenue share of the coating additives market. The increasing utilization of coating additives across the automotive industry due to its property of preventing corrosion and offering a more tractive finish to the vehicle is majorly contributing to increasing the growth of this segment across the market.
Function Outlook
Based on the Function, the Coating additives market is segregated into Anti-foaming, Wetting & Dispersion, Rheology modification, Biocides, and Impact Modification. In 2020, the anti-foaming segment accounted for a significant revenue share of the coating additives market. The rising growth of this segment of the market is a result of its property of eliminating the formation of foam in the solution. This feature allows the customer to eliminate the disruption that is caused by the occurrence of foam while preparing the solution.
Regional Outlook
Based on the region, the coating additives market is analyzed across North America, Europe, APAC, and LAMEA. In 2020, the coating additives market was dominated by APAC as the region accounted for the largest revenue share of the market. The increase in the growth of the market across this region is owing to multiple factors viz. rising disposable income of people of countries across the region along with a stable economy as well as constantly rising living standards of the population of this region.
Cardinal Matrix - Coating Additives Market Competition Analysis
The major strategies followed by the market participants are Acquisitions. Based on the Analysis presented in the Cardinal matrix; The Dow Chemical Company, Lanxess AG and Clariant AG are the forerunner in the Coating Additives Market. Companies such as BASF SE, Arkema S.A., Evonik Industries AG are some of the key innovators in the Market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Akzo Nobel N.V., The Dow Chemical Company, BASF SE, Arkema S.A., Evonik Industries AG (RAG-Stiftung), Momentive Performance Materials, Inc., Lanxess AG, Eastman Chemical Company, Clariant AG, and Elementis PLC.
Recent Strategy Deployed in Coating Additives Market
» Partnerships, Collaborations and Agreements:
- Dec-2021: Arkema announced a distribution agreement with Megafarma, the Mexican affiliate of Azelis Americas LLC. The agreement aimed to distribute Polyamide Powder Coating Additives in Mexico.
- Nov-2021: BASF SE came into a distribution agreement with Azelis for the distribution of Azelis' resins range in Vietnam. BASF's portfolio of resin products allows Azelis to deliver advanced solutions for CASE (coatings, adhesives, sealants, and elastomers), packaging & printing markets. The agreement is expected to further expand BASF's ability to provide innovative solutions for customers in automotive & industrial coatings and packaging & printing markets.
- Jul-2021: Akzo Nobel extended its partnership with Mercedes-Benz for another way. Under this expansion, Sikkens is expected to continue to be the preferred paint partner in Indonesia and approved partner for paint repairs in China. The expansion means the customers is expected to get benefit from MIXIT, a cloud-based color retrieval application that offers instant access for more than two million color formulas.
- Jun-2021: Evonik announced an agreement with CheMondis, a B2B online marketplace for chemicals in Europe, and Biesterfeld Spezialchemie, the chemical distributor. Following the agreement, Evonik and Biesterfeld is expected to expand their portfolio on CheMondis as the distributor. Furthermore, CheMondis' marketplace is expected to offer both the companies an opportunity to set up an additional online channel supporting their existing agreement.
- Dec-2020: Dow Coating Materials signed a distribution agreement with Univar B.V., a subsidiary of Univar Solutions, Inc. in the Ireland and UK for all coatings applications and Turkey for industrial coatings applications. The agreement aimed to provide the customers with a more comprehensive product portfolio in the UK, Turkey, and Ireland.
- Nov-2020: Elementis announced an exclusive distribution agreement with DKSH's Business Unit Performance Materials. This distribution agreement focused on delivering distribution, sales & marketing, logistics, and key customer management to the latter company's for its coating additives, talc fillers, resins in New Zealand and Australia.
» Acquisitions and Mergers:
- Dec-2021: Arkema is acquiring Permoseal in South Africa, one of the leading companies in adhesive solutions for packaging, woodworking, DIY, and construction. The latter company's well-known brands comprising Alcolin, and its extensive range of high-performance adhesive solutions is expected to be a perfect fit to Bostik's offering in the region, reinforcing their positions in Sub-Saharan Africa and South Africa's dynamic industrial, DIY, and construction markets.
- Aug-2021: Arkema is acquiring Ashland Performance Adhesives, a leader in high-performance adhesives for industrial applications in the US. The acquisition is expected to complement the company's strategy to become a pure specialty materials player.
- Aug-2021: LANXESS announced the acquisition of Emerald Kalama Chemical. The acquisition reinforced the company's portfolio for the paints, plastics, and coatings, as well as adhesive industries.
- Jul-2021: Akzo Nobel signed an agreement to acquire Grupo Orbis, a paints and coatings company for expanding its position in Central and South America. The acquisition is expected to be aligned perfectly with the company's strategy of developing leading global positions and driving growth in growing markets.
- Apr-2021: Akzo Nobel acquired stakes in Qlayers, a startup focusing on the applications of industrial coatings. This acquisition is expected to fit the company's strategy of making the paints and coatings value chain more efficient and sustainable with innovative products and solutions for the customers.
- Mar-2021: Akzo Nobel took over Industrias Titan S.A.U. (Titan Paints). The acquisition strengthened Akzo's paint business and expanded its footprint in Spain for becoming one of the market references in the region.
» Product Launches and Product Expansions:
- Nov-2021: Akzo Nobel introduced Interpon W, a range of powder coating solutions. These solutions can transform the way manufacturers and designers work with heat-sensitive substrates such as plastic and wood. The range comprises Interpon W Flex Pro, Interpon W Fast Pro, Interpon W Core, and Interpon W Fast. These allow kitchen, furniture, and bathroom products or construction and building materials to be enhanced and protected in minutes in ways.
- Sep-2020: Evonik's Coating Additives Business Line introduced TEGO Foamex 852, a defoamer that delivers a unique combination of compatibility and effectiveness. This defoamer offers critical additional defoaming strength while remaining compatible. This product has been developed specifically for printing ink applications.
» Geographical Expansions:
- Nov-2021: LANXESS announced the setup of a new production line for the manufacturing of water-based compounds into operation in Nantong, China. These products have been utilized in various functional coatings applications under the Pellart brand.
- Nov-2021: Evonik announced the establishment of a new state-of-the-art laboratory and innovation facility at its Essen Goldschmidt site in Germany for expanding its leadership position in the polyurethane industry. The facility helps the company in developing innovative and more sustainable additive solutions for the customers to help them in fulfilling the changing demands of the market and increasing environmental regulations.
- Apr-2021: Clariant opened a new word class production facility for process and light stabilizers. This facility has been owned jointly by Clariant and Beijing Tiangang Auxiliary Co., Ltd. The facility enables both the companies to continue their partnership with an enhanced capability of fulfilling the emerging demand for high-end processes and light stabilizers in China.
Scope of the Study
Market Segments Covered in the Report:
By Type
- Acrylic
- Fluoropolymers
- Urethanes
- Metallic Additives
- Others
By Formulation
- Water-borne Coating
- Solvent-borne Coating
- Solventless Coating
- Powder Coating
- Radiation Curable Coating
By End Use
- Architectural
- Automotive
- Industrial
- Wood & Furniture
- Others
By Geography
- North America
- US
- Canada
- Mexico
- Rest of North America
- Europe
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
- LAMEA
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- Akzo Nobel N.V.
- The Dow Chemical Company
- BASF SE
- Arkema S.A.
- Evonik Industries AG (RAG-Stiftung)
- Momentive Performance Materials, Inc.
- Lanxess AG
- Eastman Chemical Company
- Clariant AG
- Elementis PLC
Unique Offerings from the Publisher
- Exhaustive coverage
- The highest number of market tables and figures
- Subscription-based model available
- Guaranteed best price
- Assured post sales research support with 10% customization free
Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market Overview
Chapter 3. Competition Analysis - Global
Chapter 4. Global Coating Additives Market by Type
Chapter 5. Global Coating Additives Market by Formulation
Chapter 6. Global Coating Additives Market by End Use
Chapter 7. Global Coating Additives Market by Function
Chapter 8. Global Coating Additives Market by Region
Chapter 9. Company Profiles
Companies Mentioned
- Akzo Nobel N.V.
- The Dow Chemical Company
- BASF SE
- Arkema S.A.
- Evonik Industries AG (RAG-Stiftung)
- Momentive Performance Materials, Inc.
- Lanxess AG
- Eastman Chemical Company
- Clariant AG
- Elementis PLC
Methodology
LOADING...
