As per the report, the global coating additives industry was accounted for $9.0 billion in 2020, and is expected to reach $15.0 billion by 2030, growing at a CAGR of 5.5% from 2021 to 2030.
Drivers, restraints, and opportunities
Supportive environmental regulations for low VOC coating additives and rise in number of applications in several end-user industries drive the growth of the global coating additives market. On the other hand, strict environments dictums restrain the growth to some extent. However, surge in demand for water-borne and powder-based coating additives in green construction is expected to create lucrative opportunities in the industry.
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- Huge disruptions in the supply chain severely affected the automotive and manufacturing industries, thereby impacting the global coating additives market negatively, especially during the initial phase.
- However, the market is anticipated to recoup soon.
The rheology medication segment held the lion’s share-
Based on function, the rheology modification segment held the major share in 2020, generating nearly one-fourth half of the global coating additives market, owing to increase in usage of rheology additives as it provides film thickness, increases viscosity of finished products, and improves elastic properties of coatings. The same segment is also projected to cite the fastest CAGR of 5.8% during the forecast period.
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The acrylic segment held the highest share in 2020-
Based on type, the acrylic segment held the highest share in 2020, generating more than one-fourth of the global coating additives industry. This is due to rise in demand for acrylic material for coating additives. The same segment would also cite the fastest CAGR of 5.8% from 2021 to 2030.
Asia-Pacific, followed by Europe and North America, held the major share-
Based on region, the market across Asia-Pacific, followed by Europe and North America, accounted for the major share in 2020, contributing to around half of the global coating additives market. This is because Asia-Pacific has a large consumer of coating additives. The same region is also expected to cite the fastest CAGR of 6.1% throughout the forecast period.
Prominent Market Players-
- BYK Additives & Instruments
- Dow Chemical Co.
- Eastman Chemical Co.
- Momentive Performance Materials Inc.
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