Paint Additives Market Share

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 (%):

  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

• 
  May 2023: Dow announced the expansion of its production capacity for its DOWLEX® 4500 anti-corrosive additive. This additive is used in a variety of paints and coatings, including those used for metal protection. The expansion is expected to meet the growing demand for anti-corrosive paints in the automotive, construction, and industrial sectors.

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  June 2023: Clariant announced the launch of its new bio-based dispersant, Clariant EcoSolv™ 800. This dispersant is made from renewable resources and is designed to be more sustainable than traditional dispersants. It is also said to be more effective in terms of improving the flow and levelling properties of paints.

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  July 2023: AkzoNobel announced the acquisition of the specialty chemicals business of Evonik. This acquisition includes a number of paint additives, including dispersants, defoamers, and thickeners. The acquisition is expected to strengthen AkzoNobel's position in the global paint additives market.

Intended Audience

• Paint additives manufacturers


• Traders and distributors of paint additives


• Research and development institutes


• Potential investors


• Raw material suppliers


• Nationalized laboratory