Coating Additives Market Analysis | 2022-2028

Market Insights

The coating additives market was estimated at USD 9.0 billion in 2021 and is likely to grow at a CAGR of 5.5% during 2022-2028 to reach USD 11.0 billion in 2028.

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Market Dynamics

Introduction

Coating additives incorporate thickeners, emulsifiers, dispersants, pigments, defoamers, leveling agents, photo-stabilizers, curing catalysts, and other ingredients to deliver advanced coatings for end-use products. These additions enhance the resin's characteristics. The demand for coating additives will continue to grow due to the growing demand from end-use sectors such as architecture and industrial.

For instance, solventless coatings are widely being used as a premium coating in many end-user industries, including automotive, architectural, and industrial. New launches in the market and growing end-uses of the product will also shape the overall market's scope in the coming years. Moreover, the growing trend of green coating has changed the overall outlook of the market. Green coating is gaining high impetus due to the growing focus of government bodies on using sustainable products.

Market Drivers

The market has seen various trends and is expected to grow explicitly due to growing demand for eco-friendly coatings, increased use of nanotechnology to innovative coating additives, and rising demand for waterborne coatings, which are becoming more popular due to their low VOC content and environmental friendliness. As a result, there is a growing demand for additives that can enhance the performance of these coatings.

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Key Players

In the global coating additives market, there is a high level of competition, with prominent players excelling in the industry. Numerous domestic competitors also exist, and major producers are implementing their global market development strategies to gain a competitive edge and introduce distinctive product lines. Notable contenders in the global coating additives market include:

• Arkema
• BASF
• BYK Additives & Instruments
• Clariant
• Dow Chemical Co.
• Eastman Chemical Co.
• Evonik, Lanxess
• Momentive Performance Materials Inc.
• Solvay
• Lanxess
• Other Prominent Players

Note: The above list does not necessarily include all the top players in the market.

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Segment Analysis

By Function Type

"The dispersion segment accounted for the largest market share."

On the basis of function, the coating additives market is segmented into anti-foaming, Wetting, and Dispersion, wherein the dispersion segment will hold dominance due to its effective properties of providing film thickness, increasing viscosity of finished products, and improving overall elasticity.

By Type

On the basis of type, acrylic coating additives refer to a range of chemical compounds that are added to acrylic-based coatings to enhance their performance and properties. These additives can improve the flow, leveling, and adhesion of the coating, as well as increase its durability, resistance to weathering and corrosion, and overall quality.

The acrylic coating additives market is a growing industry driven by the increasing demand for high-quality, high-performance coatings in various applications, including construction, automotive, industrial, and others. Factors such as the growing need for sustainable and eco-friendly coatings, advancements in technology, and the rising demand for low-VOC will be driving the market growth during the forecast period.

By Formulation Type

"The water-borne coating segment accounted for the largest market share."

Based on formulation, the water-borne coating segment held dominance and will maintain its lead in the coming years. Waterborne coating additives are chemical compounds that are added to water-based coatings to enhance their performance and properties. These additives can improve the flow, leveling, and adhesion of the coating, as well as increase its durability, resistance to weathering and corrosion, and overall quality.

The high demand for water-resistant products is primarily driving the demand for waterborne coatings, thereby contributing to the overall market growth.

By End-use Industry Type

In 2021, the architectural sector was the leading revenue contributor in the global coating additives market, mainly due to the economic progress observed in emerging countries across Asia-Pacific, resulting in a surge in infrastructure development. This, in turn, has led to an increased demand for coating additives in the architectural industry. Moreover, a growing number of projects related to architecture development will continue to contribute to market growth.

Regional Insights

"Asia Pacific accounted for the largest market share."

The Asia Pacific coating additives market is a rapidly growing industry, driven by the increasing demand for high-quality coatings across various industries, including automotive, construction, and industrial manufacturing. Apart from that, this regional market is expected to experience substantial growth in the coming years, owing to factors such as the rising demand for sustainable coatings, advancements in technology, and the increasing need for low-VOC and water-based coatings.

The Asia Pacific region is the largest market for coating additives, with countries such as China, India, and Japan contributing significantly to the market's growth. Increasing government focus on infrastructure development has resulted in a surge in the demand for coatings in the region.

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Research Methodology

This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s underwater drone market realities and future market possibilities for the forecast period of 2022 to 2028. After a continuous interest in our underwater drone market report from the industry stakeholders, we have tried to further accentuate our research scope to the underwater drone market to provide the most crystal-clear picture of the market. The report segments and analyses the market in the most detailed manner to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis.
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
• Market trend and forecast analysis.
• Market segment trend and forecast.
• Competitive landscape and dynamics: Market share, Service portfolio, New Product Launches, etc.
• COVID-19 impact and its recovery curve
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors.

Market Segmentation

This report studies the market, covering a period of 12 years of trends and forecasts. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The coating additives market is segmented into the following categories:

By Function Type

• Anti-foaming
• Wetting
• Dispersion

By Type

• Acrylic
• Fluoropolymers

By Formulation Type

• Water-borne Coating
• Solvent-borne Coating

By End-Use Industry Type

• Architectural
• Industrial

By Region

• North America (Country Analysis: the USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

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Report Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to three players)
• SWOT analysis of key players (up to three players)

Competitive Benchmarking

• Benchmarking of key players on the following parameters: product portfolio, geographical reach, regional presence, and strategic alliances.

Custom Research: Stratview research offers custom research services across the sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@Stratviewresearch.com.

Recent Developments

In April 2022, Arkema received certification for its advanced bio-based materials and also introduced plans to launch a new bio-based materials plant in Singapore later this year. This plant will use castor seed as the source for 100% of its monomer, polymer, and oleochemical production.

In 2021, BYK Additives and Instruments released a new product called BYK-329, which is a silicone-containing surface additive compatible with both solvent-free and solvent-borne systems. It declines surface tension in floor coatings and industrial coatings while prompting leveling and defoaming.

In 2021, BYK Additives and Instruments pulled the veil off its new VOC-free, silicone-containing additive, specifically designed for aqueous paint systems, printing inks, and adhesives, called BYK-092 in their defoamer line.

In September 2021, BASF unveiled Tinuvin 249, a new light stabilizer specifically designed for coatings and inks in order to bring out outstanding UV protection, thermal stability, and compatibility.

In September 2020, BYK-3480 and BYK-3481 were recognized with the "Ringier Technology Innovation Award 2020" in the "Coatings Industry" category for their ability to significantly reduce static surface tension and defoaming in water-based systems.