Coating additive are low level ingredients that are added to paints, sealants, etc. to enhance their performance, improve dispersion of solids, for foam reduction, and to for protection of material UV rays. External problems such as high temperature, moisture, and biocides can be dealt with help of coating additives. The coating additives can be formulated depending upon the end use.
Rapid urbanization and infrastructure development are major factors driving growth of the global coating additives market. In addition, increasing demand for high quality finished surfaces is further boosting demand for coating additives in sectors such as automotive, architectural etc. Technological advancements in reformulating the additives is ensuing increase in demand of global coating additive for wood and furniture due to additive properties, such as viscosity, glossy finish, impact resistance, etc. is also fueling the growth.
A Major factor hampering growth of the global coating additive market is governmental regulations associated with emission of volatile organic compound. In addition, discharge of compound waste into rivers or waterways is further hampering growth of the global coatings additives market.
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The global coating additives market report is segmented on the basis of formulation, function, type, end user, and region.
North America dominates the global coating additives market and is expected to maintain its dominance during forecast period. The market in North America is expected to witness significant growth owing to presence of major vendors in this region. The market in Asia pacific is expected to witness highest growth rate in terms of revenue owing to fast growth in infrastructure and automotive sectors. The market in Europe is expected to register a CAGR of X.X% during the forecast period
key players in the global coating additives market are Akzo Nobel N.V., Arkema S.A., Ashland Inc., BASF SE, BYK-Chemie GmbH, The Dow Chemical Company, Eastman Chemical Company, Evonik Industries AG, King Industries Inc., and PPG industries, Inc.
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