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Coating Additives Market Analysis

Report ID: GMI6765
Published Date: Sep 2023
Report Format: PDF

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Coating Additives Market Analysis

Coating Additives Market Size, By Product, 2021 - 2032 (USD Billion)

Based on product, the coating additives market is segmented as rheology modifiers, dispersing agents, defoamers, wetting agents, adhesion promoters, antimicrobial agents, uv stabilizers, anti-corrosion agents, drying agents, others. Rheology modifiers held a majority market value of USD 3.03 billion in 2022. Demand for thickeners is driven by the need for improved viscosity control in coatings, which enhances application properties and prevents sagging or dripping. Dispersants are essential for achieving uniform pigment dispersion, preventing agglomeration, and improving color consistency in coatings.

Coating Additives Market Revenue Share, By Formulation, (2023)

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Based on formulation, the coating additives market is segmented as water-based coatings, solvent-based coatings, powder coatings, high-solids coatings, others. Water-based coatings held a dominant market share of around 40% in 2022. Water-based coatings are favored due to their lower volatile organic compound (VOC) content, making them compliant with stringent environmental regulations. Additives that enhance the performance of water-based coatings are in demand.

Based on application, the coating additives market is segmented as Architectural Coatings, Automotive Coatings, Industrial Coatings, Wood Coatings, Packaging Coatings, Marine Coatings, Aerospace Coatings, Others. Architectural Coatings held a dominant market share in 2022 and is anticipated to grow at 5.6% CAGR till 2032. The demand for coating additives is driven by the need to enhance the durability and weather resistance of architectural coatings to protect buildings from harsh environmental conditions.

U.S. Coating Additives Market Size, 2020- 2032 (USD Billion)

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U.S. dominated the North American region with majority coating additives market share and a revenue of USD 5.3 billion in 2022. North America experiences ongoing construction and infrastructure projects, which drive the demand for architectural coatings and additives. Additives that enhance durability and weather resistance are essential for these applications.

Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

Market size for coating additives was valued over USD 10.6 billion in 2023 and is estimated to reach USD 17.5 billion by 2032, favored by the increasing construction activities, including residential, commercial, and infrastructure projects.

Water-based coating additives industry segment held around 40% share in 2022 and is expected to grow at a lucrative pace through 2032 due to the product’s lower volatile organic compound (VOC) content, making it compliant with stringent environmental regulations.

3. How big is the U.S. coating additives industry?

BASF SE, Evonik Industries AG, Dow, Inc., Akzo Nobel N.V., Elementis PLC, BYK Additives & Instruments, Eastman Chemical Company, Arkema Group, Lubrizol Corporation, Croda International PLC, Clariant AG, Michelman, Inc., Huntsman Corporation, Solvay S.A., Wacker Chemie AG among others.