Paint Additives Market Research Report – Forecast to 2030

Paint Additives Market Information: By Product Type (Rheology Modifiers, Biocides), by Application (Architectural, Industrial, Automotive, Industrial, Wood & Furniture) and Region - Forecast till 2030

ID: MRFR/CnM/4705-HCR | February 2023 | Region: Global | 100 Pages         

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Paint Additives Market

Paint Additives Market Is Projected To Be Worth USD 12,659.8 Million By 2030, Registering A CAGR Of 6.75% During The Forecast Period (2021-2030).

Segmentation
By Product Type Rheology Modifiers Biocides
By Application Architectural Industrial Automotive Industrial Wood & Furniture
Key Players
Companies Profiled   Akzo Nobel NV   Arkema SA   Ashland Global Holdings Inc.   BASF SE   BYK-Chemie GmbH   Asahi Glass Co. Ltd.   Dow Chemical   Evonik Industries AG   Arch Chemicals   Lonza Group AG   Daikin Industries Ltd.
Drivers
Market Driving Forces   Growing demand from the industrial and architectural segments
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Paint Additives Market Overview Paint Additives Market Is Projected To Be Worth USD 12,659.8 Million By 2030, Registering A CAGR Of 6.75% During The Forecast Period (2021-2030). Paint additives are specific compounds that are added to paints to improve their functionality and quality. These additives improve paint efficiency by modifying viscosity, impact resistance, anti-chipping, foam reduction, and gloss management. The increased demand from the industrial and architectural segments is driving the Paint Additive Market. Furthermore, the global paint and coatings industry's expansion has a direct impact on paint additive demand. Paints and coatings are widely employed in a variety of industries, including oil and gas and automobiles. Furthermore, the market's growing preference for green paint is a significant potential that is likely to create significant income during the forecast period. Rheological modifiers, defoamers, dispersants, and wetting agents are some of the most commonly used additives in architectural coatings in the Paint Additives Market. In general, Paint Additives aid in improving surface qualities, stabilizing pigment, improving wetting, dispersion, defoaming properties, and so on. In the coming years, the growing need for decorative coatings in homes to improve aesthetics is expected to drive up demand for paint additives. In Asia-Pacific, rising commercial and residential construction is boosting demand for paint additives to improve building protection.

Paint Additive Market Share, by Application (%):


 Paint Additives market share Regional Analysis


Asia Pacific was the largest Paint Additive Market in 2017 due to increasing construction and automobile industries in the region. Moreover, expanding GDP in the region has added extra purchasing power to the population in the region, which, in turn, is fueling the demand for paint additives in the architectural segment. Furthermore, the growing population in the region has augmented the government spending on construction activities, which is also positively contributing to the revenue of the market.


North America is the prominent region in the Paint Additive Market as a result of increasing consumption of paint additives in the building and construction and automobile industries. Additionally, the presence of major paint & coating manufacturers in the region and increased government spending on renovation and construction of commercial and residential buildings, especially in Canada is boosting the growth of the regional market.


Europe is likely to witness a significant growth during the review period as result of reviving industrial sector in this region. Additionally, the presence of major automobile manufacturing industries in the region is adding fuel to the demand for paint additives. However, the presence of stringent government regulations in the region may slow the market growth to some extent during the coming years.


The Middle East and Africa are likely to witness a moderate growth during the assessment period on account of growing automotive and construction industries. The growing construction activities in the region owing to the FIFA World CupTM 2022 are likely to drive the demand for paint additives.


Segmentation


The Paint Additive Market is segmented into Type, Application, and Region. On the basis of the Product Type, the Paint Additive Market is segregated into rheology modifiers, biocides, anti-foamers, wetting and dispersion agents, and others. On the basis of Application, the Paint Additive Market is further segregated into architectural, industrial, wood and furniture, automotive and others. Based on the Region, the Paint Additive Market is segregated into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.


Key Players


Some of the prominent players operating in the Paint Additive Market are Akzo Nobel NV, Arkema SA, Ashland Global Holdings, Inc., BASF SE, BYK-Chemie GmbH, Asahi Glass Co., Ltd., Dow Chemical, Evonik Industries AG, Arch Chemicals, Lonza Group AG, and Daikin Industries, Ltd.


Recent Development


In January 2022, the Bodo Möller Chemie Group and Evonik Industries will collaborate in East Africa on specific binders and additives for the paint and varnish industry, as well as textile, and leather finishing, and printing inks. East African countries Tanzania, Kenya, Rwanda, Uganda, and Burundi will be the first to profit from the specialized chemicals deal. Silicone resins and silicone-modified binders, as well as mating agents, tackifying agents, and rheology agents, will all be available.


 


The newest rheology control dispersion in Evonik Resource Efficiency's portfolio, VP Disp. WF 7620, was launched in 2019 under the Coating Additives Business Line. The waterborne systems are the foundation of this product. The launch of such products is propelling the industry forward.


Intended Audience



  • Paint additives manufacturers

  • Traders and distributors of paint additives

  • Research and development institutes

  • Potential investors

  • Raw material suppliers

  • Nationalized laboratory



Report Scope:

Report Attribute/Metric Details
  Market Size   2030: Significant Value
  CAGR   6.75% CAGR (2021-2030)
  Base Year   2019
  Forecast Period   2021-2030
  Historical Data   2018
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Product Type, Application
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Akzo Nobel NV, Arkema SA, Ashland Global Holdings, Inc., BASF SE, BYK-Chemie GmbH, Asahi Glass Co., Ltd., Dow Chemical, Evonik Industries AG, Arch Chemicals, Lonza Group AG, and Daikin Industries, Ltd
  Key Market Opportunities   New product launches and R&D Amongst major key Players
  Key Market Drivers   growing demand from the industrial and architectural segments


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Frequently Asked Questions (FAQ) :

The global paint additives market can expand at a CAGR exceeding 6.75% from 2021-2030

The expanding paints & coatings industry is the major driver of the global paint additives market.

Regulations banning the use of VOCs can impede the global paint additives market.

The APAC region can dominate the global paint additives market due to the thriving construction and automobile sectors.

Ashland Global Holdings, Inc., Arkema SA, Arch Chemicals, Lonza Group AG, Evonik Industries AG, Daikin Industries, Ltd., Asahi Glass Co., Ltd., BYK-Chemie GmbH, BASF SE, Dow Chemical, and Akzo Nobel NV are major players of the global paint additives market.