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Coating Additives Market Size

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

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Coating Additives Market Size

Coating Additives Market size was valued at around USD 10.6 billion in 2023 and is anticipated to grow at a CAGR of 5.8% between 2024 and 2032. Increasing construction activities, including residential, commercial, and infrastructure projects, drive the demand for architectural coatings and additives. Coating additives are used to enhance properties such as durability and weather resistance.

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The automotive industry requires high-performance coatings to improve aesthetics, corrosion resistance, and durability. Coating additives play a crucial role in achieving these properties. The furniture and woodworking industry relies on coatings for aesthetics and protection. Additives enhance properties like scratch resistance, gloss, and UV resistance in wood coatings.

Coating Additives Market Report Attributes
Report Attribute	Details
Base Year:	2023
Coating Additives Market Size in 2023:	USD 10.6 billion
Forecast Period:	2024 to 2032
Forecast Period 2024 to 2032 CAGR:	5.8%
2032 Value Projection:	USD 17.5 billion
Historical Data for:	2018 to 2023
No. of Pages:	150
Tables, Charts & Figures:	191
Segments covered:	Product, Formulation, Application, Region
Growth Drivers:	Growing automotive industry Expansion of the aerospace industry Increasing industrial activities
Pitfalls & Challenges:	Regulatory Compliance Rising Raw Material Costs Supply Chain Disruption

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Meeting and staying compliant with stringent environmental regulations, such as restrictions on volatile organic compounds (VOCs) and hazardous materials, can be challenging and costly. Fluctuations in the prices of raw materials, including petrochemical derivatives, solvents, and resins, can impact production costs and pricing strategies for coating additives. Disruptions in the supply chain, such as shortages of key raw materials or transportation issues, can impact manufacturing and delivery schedules. Thus, the risks associated with coating additives may drive down the acceptance rate, further hampering the business growth.

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

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.