According to the latest report by IMARC Group, title “Coating Additives Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027“, the global coating additives market size reached US$ 9.31 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 12.37 Billion by 2027, exhibiting a CAGR of 4.60% during 2022-2027.
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Coating Additives Industry Outlook:
Coating additives are substances added to coating materials in small quantities to enhance or modify specific qualities of the object during its production, storage, transportation, application, etc. They include thickeners, dispersants, pigments, defoamers, leveling agents, emulsifiers, photo-stabilizers, curing catalysts, etc. Coating additives offer optimal surface activity, vapor pressure, solubility parameters, and chemical stability to the coatings. They also provide improved durability, aesthetic appeal, and excellent resistance against corrosion. Consequently, coating additives find extensive applications across the architecture, automotive, and furniture sectors.
The inflating demand for environment-friendly products is primarily driving the coating additives market across the globe. Besides this, the growing usage of raw materials that improve the quality and effectiveness of coating formulations is further catalyzing the market growth.
Moreover, the expanding requirement for multifunctional additives to augment combustion efficiency and reduce carbon footprints and emissions across industry verticals is acting as another significant growth-inducing factor. In addition to this, the shifting consumer preferences towards durable and aesthetic finishes for objects are also stimulating the global market.
Furthermore, the elevating need for vehicle renovations and aesthetic automotive coatings are bolstering the market growth. In the coming years, the escalating demand for decorative paints and advanced aerospace coatings is expected to fuel the coating additives market across countries.
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|Coating Additives Market Report Scope|
|Market size value in 2021||US$ 9.31 Billion|
|Market forecast in 2027||US$ 12.37 Billion|
|Growth Rate||CAGR of 4.60% from 2022 to 2027|
|Base year for estimation||2021|
|Report coverage||Revenue forecast, company ranking, competitive landscape, growth factors, and trends|
|Segments covered||Type, Function, Formulation, Application and Region|
|Market Dynamics||Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period,|
|Customization preview||If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.|
Key Market Segmentation:
The report has been segmented the market into following categories:
Breakup by Type:
- Metallic Additives
Breakup by Function:
- Wetting and Dispersion
- Rheology Modification
- Impact Modification
Breakup by Formulation:
- Water-borne Coating
- Solvent-borne Coating
- Solventless Coating
Breakup by Application:
- Wood and Furniture
Breakup by Geography:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
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List of Key Companies Covered in this Market Report:
The major players in the market are Altana AG, Arkema S.A., Ashland Global, BASF SE, Clariant AG, Dow Inc., Eastman Chemical Company, Elementis plc, Evonik Industries AG, Huntsman Corporation, Momentive Performance Materials Inc. and Solvay S.A.
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About IMARC Group:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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