The global paint additives market is expected to reach USD 10.9 billion by 2025. The growing use of paints and coatings in the construction and the automotive sectors due to highly preferred solvent properties are major growth factors. Other factors such as an increase in the expenditure on construction activities and a rise in the adoption of paints and coatings in the automotive sector are fueling the growth of the paint additives market, mainly in developing economies across the globe. The increasing use of paints and coating is expected to influence demand for paint additives in the forecast period. The paint additives market is expected to witness a 6% CAGR in the forecast period.
The stringent laws and regulations against harmful effects of paints and coating on the environment are compelling market players to adopt environment-friendly paints and coatings additives that comply with regional and international regulations. This has led market players to significantly invest in research and development for the paint additive market. The development of low-cost solutions to avoid the use of volatile organic compounds is contributing to the market expansion in upcoming years.
Several international and local governing agencies are regulating the use of paints and addictive such as the European Union (EU), and the national institute for occupational safety and health (NIOSH). These regulations allow industries to avoid the dangers of adverse chemical and physical effects along with the use of raw materials and storage equipment.
Paint and coating additives consist of a variety of elements that are added into polymer resins, dyes, varnishes, and other materials to change their specific properties as per the requirements. Paint additives are categorized into various materials such as insulating paint additives, powder varnish additives, reagents, moistening agents, levelers, clarifiers, coupling addictive, de-flocculants, thinning agents, viscous agents, and anticaking additives. Paint additives and varnishes occur in various forms as well.
The wide range of paint addictive and coating additives such as insulating paint additives and powder coating additives utilize premium quality base materials in their production. The main objective for using paint addictive is to accomplish properties such as water resistance, erosion resistance, and endurance against heat and abrasion. Currently, available paint addictive and coating addictive in the market are mostly safe and environment-friendly. A recent development for the production of paint addictive and coating additives has led to extremely reasonable prices.
Paint additives consist of an extremely vital type of raw materials that are utilized for the production of paints and coating materials, also in the various application that is narrowly associated with coating materials. The essential factors associated with paint addiction are quality and coating application properties that are dependent on the type of raw material used. Also, the selection of the correct additives that are to be added with the paints and coating is significantly vital.
Selection particular addictive for paint and coating material majorly influences the characteristics of the paint and coating materials. Additives cause changes in the functionality of added materials such as a binder, pigment extender, and solvent. The quantity of additives varies as per requirement, typically ranging from five to ten percent by weight. Though, the standard proportion of one additive in a coating formulation is commonly around one and a half percent to the overall quantity of the paint material.
The paint additives market is divided into regional market segments such as North America, Europe, Asia-Pacific, Latin America, and Africa. Asia-Pacific region is predicted to hold a major market share in the paint additives market with massive growth in the forecast period. Countries such as Japan, Malaysia, China, and India are leading the Asia-Pacific market with the growing need for infrastructural facilities and increasing investment by market players due to potential growth opportunities. North America and Europe region have shown major growth in recent years owing to the rise in commercial as well as residential construction and rising living standards. The key players in the paint additives industry are AkzoNobel Co., Arkema S.A., BASF Enterprises, Evonik Industries, Ashland Global Holdings Incorporations, and Buckman Laboratories Incorporations.
Market Segment:
Paint Additives Product Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
• Rheology modifiers
• Biocides
• Anti-foamers
• Wetting & dispersion agents
• Others
Paint Additives Application Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
• Architectural
• Industrial
• Wood & furniture
• Automotive
• Others
Paint Additives Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
• North America
• the U.S.
• Europe
• the U.K.
• Germany
• the Asia Pacific
• China
• India
• Central & South America
• Brazil
• Middle East & Africa
Research Support Specialist, USA