The global paints and coatings additives market size is predicted to reach USD 12,659.4 million by 2027, exhibiting a CAGR of 6.4% during the forecast period. The increasing consumption paints & coatings additives in the construction industry will propel the growth of the market, Fortune states Business Insights in a report, titled “Paints and Coatings Additives Market Size, Share & Industry Analysis, By Type (Dispersing Agent, Rheology Agent, Leveling Agent, Anti-foaming Agent, Adhesion Promoting Agent, and Others), By Application (Automotive, Architectural, Wood, Industrial, and Others), and Regional Forecast, 2019-2027” the market size stood at USD 8,299.7 million in 2019.

Market Driver:

High Demand in the Residential Sector to Foster Growth

The increasing application of coatings in the construction, automotive, aerospace, equipment manufacturing industry is a key factor enabling the growth of the market. The growing utilization of additives such as thickeners, emulsifiers, dispersants, deformers, leveling agents, photo-stabilizers, and curing catalysts in the construction industry will have a positive impact on the market during the forecast period. The corrosion protection properties in additives act as a shield for buildings & infrastructures, thus improving the durability of coatings. The surge in the residential sector along with the expansion of commercial spaces will incite the development of the market during the forecast period. The increasing demand for multifunctional additives is expected to drive the market in the forthcoming years. The rising acquisition among major companies will be a vital factor in encouraging the growth of the market. For instance, in January 2017, Evonik, a German specialty chemicals company announced that it has acquired Air Products' performance materials division. The company has plans to merge its silica business line, the coating additives business line, and the specialty additives branch of Air Products with a focus on substrate wetting additives. Besides, the growing focus of companies for the development of innovative solutions in various formulation challenges in the paints & coatings industry will create new opportunities for the market in the forthcoming years.

Source: https://www.fortunebusinessinsights.com/industry-reports/paints-coatings-additives-market-101810

Increasing Industrial Applications to Aid Development in Asia Pacific

Asia Pacific is expected to account for the largest share during the forecast period owing to the rising demand from construction, automotive, furniture industries. The increasing industrial applications of additives will further boost the market in the region. The booming construction industry is a key factor driving the market in emerging nations such as China, Japan, and India. Europe is expected to witness a substantial growth rate during the forecast period owing to the demand from the industrial and automotive applications. The rising application of paints & coatings for decoration of buildings and infrastructure will have a tremendous impact on the market in the region. North America is predicted to grow rapidly during the forecast period owing to the burgeoning automotive and construction industry. The increasing demand for architectural and industrial applications will enable speedy expansion of the market.

Key Development:

March 2018: Solvay announced the expansion of its portfolio with new performance additives and specialty monomers for paints, coatings, adhesives, and inks. The products will deliver benefits which include, emulsion stability, particle-size control, better adhesion to substrates, and improved wetting & dispersion.

December 2018: Elementis PLC announced to the acquisition of a production facility at Mumbai, India for US$ 4 Mn which will serve the personal care, coatings, and energy markets in India and globally.

The Report Lists the Main Companies in the Coatings Additives Market:

• The Dow Chemical Company
• Evonik Industries AG
• BYK
• Clariant
• Kyoeisha Chemical Co., LTD.
• Arkema
• BASF SE
• Lubrizol Corporation
• ELEMENTIS
• Kusumoto Chemicals, Ltd.
• ALLNEX NETHERLANDS BV
• Shin-Etsu Chemical Co., Ltd •
Shamrock Technologies
• King Industries
• Troy Corporation
• Solvay SA