The global paints & coatings additives market size is expected to reach USD 12,659.4 million by 2027, while exhibiting a CAGR of 5.9% between 2020 and 2027. This is attributable to the surging demand for advanced paints & coatings additives owing to the increasing residential projects and the rising automotive sector across the globe. This information is published by Fortune Business Insights, in its latest report, titled, “Paints & 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, 2020-2027.” The report further mentions that the market stood at USD 8,299.7 million in 2019.
List of the Companies Operating
in the Global Market for Paints & Coatings Additives:
- Dow (U.S)
- Evonik
Industries AG (Germany)
- BYK-Chemie
GmbH (Germany)
- Clariant AG
(Switzerland)
- Kyoeisha
Chemical Co., LTD. (Japan)
- Arkema S.A.
(France)
- BASF SE
(Germany)
- Lubrizol
Corporation (U.S.)
- ELEMENTIS
PLC. (UK)
- Kusumoto
Chemicals, Ltd. (Japan)
- ALLNEX
NETHERLANDS B.V. (Germany)
- Shin-Etsu
Chemical Co., Ltd. (Japan)
- Shamrock Technologies
(U.S.)
- King
Industries, Inc. (U.S.)
- Troy
Corporation (U.S)
- Solvay S.A.
(Belgium)
- San Nopco
Limited (Japan)
- keim additec
surface GmbH (Germany)
- Other Key
Players
What does the Report Include?
The market
report includes a detailed assessment of various drivers and restraints,
opportunities, and challenges that the market will face during the projected
horizon. Additionally, the report provides comprehensive insights into the
regional developments of the market, affecting its growth during the forecast
period. It includes information sourced from the advice of expert professionals
from the industry by our research analysts using several research
methodologies. The competitive landscape offers further detailed insights into
strategies such as product launches, partnership, merger and acquisition, and
collaborations adopted by the companies to maintain market stronghold between
2020 and 2027.
DRIVING FACTORS:
Increasing Focus on Development of
Residential Sector to Augment Growth
The novel
coronavirus has hampered the painting and coating applications across the
globe. However, the growing do-it-yourself projects undertaken by the people to
decorate their homes are driving the demand for paints and coatings additives.
These additives are extensively adopted as emulsifiers, dispersants,
thickeners, photo-stabilizers, and leveling agents as they provide efficient
corrosion protection for infrastructures. Additionally, they improve the
overall shelf life of coatings and increase the substrate durability. Owing to
their several benefits, the surging adoption of advanced additives is expected
to boost the global paints & coatings additives market growth during the
forecast period.
Read Detailed Summary of This Research Report:
https://www.fortunebusinessinsights.com/industry-reports/paints-coatings-additives-market-101810
COVID-19 IMPACT:
Temporary Halt to Painting & Coating
Activities amid COVID-19 Pandemic
The global
lockdown imposed by the government agencies has affected the painting and
coating applications across the globe. To curb the widespread of the disease,
the workers are following regulations that include quarantine and social
distancing norms. This has hindered the global market for paints & coatings
additives to some extent. However, the pandemic has escalated several DIY
projects, wherein, the people confined to their home spaces are taking up
painting and coating activities to improve the aesthetic look of their living
rooms. This will favor the market growth in the near future.
REGIONAL INSIGHTS:
Rising Automotive Sector in Asia-Pacific to
Favor Growth
Among all
the regions, Asia-Pacific is expected to remain at the forefront and hold the
highest position in the global paints & coatings additives market in the
forthcoming years. This is attributable to the rising automotive sector in
countries such as India and China that drive the demand for advanced paints
& coatings additives to prevent corrosion and protect the vehicle from
extreme temperature. The region stood at USD
3,766.8 million in 2019.
The market
in Europe is expected to gain momentum owing to the increasing focus on
improving the aesthetic look of old government and residential buildings in the
region between 2020 and 2027.
COMPETITIVE LANDSCAPE:
Eminent Players Expanding Their Production
Facilities to Leverage the Promising Opportunities
The global
paints & coatings additives market is consolidated by the presence of
several major companies that are focusing on expanding their production
facilities to cater to the increasing demand for advanced paints & coatings
additives for industrial applications such as automotive and construction.
A NOTABLE INDUSTRY DEVELOPMENT:
February 2020 – BYK announces the launch of its new
production and research facility located in Texas, United States. According to
the company, the new facility is anticipated to aid in propelling the
manufacturing process of GARAMITE organoclays and additives that are adopted as
specialty rheological paints & coatings additives across a wide range of
industrial applications.
Read Press Release:
https://www.fortunebusinessinsights.com/press-release/paints-coatings-additives-market-9460
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