New York City, 15 January 2019: The Global Coating Additives Market is anticipated to reach USD 11.91 billion by 2026
according to a new study report. Increasing
demand of coatings from several end use industries is the major factor driving
this market.
There has been an
insatiable and continuing demand for improved and novel types of coating
additives, not only intended for competitive reasons but also to satisfy
increasingly stringent regulatory framework designed for the well-being of the
environment. Mainly three major driving forces have affected the growth of
new-fangled additives. New and rigorous environmental regulations, designed
particularly to minimize misuse & waste and encourage recovery and
recycling of material, have undoubtedly resulted in higher widespread
application of new additive technologies in the present industry scenario.
Although application
markets for these products have been growing highly moderate, demand for
improved and novel additive systems are expected to increase considerably.
Environmental pressure being one of the main driving forces for introduction of
new types of coating additives, significant notice has also been taken of the
effect on appearance along with the costs of its utilization. Coating
manufacturers are hence currently required to innovate products that not only
present aesthetic appeal along with higher resistance to adverse service and
atmospheric conditions but are also completely acceptable to environment.
The Coating Additives Market is factually and figuratively increasing sales of additives
annually. Factors such as rising environmental legislation, increasing prices
of raw materials, emerging application markets, industry consolidation,
innovation of environment friendly and cost-effective formulations have been
the major trends in the present industry scenario. Higher quality of additives
with complex technological specifications in terms of finish, rheology,
material constituents etc. has been the primary indicators for success.
Coating Additives Market
participants invest nearly at an average of over five percent on research and
development projects every year. High demand for customized formulations that
can cater to specific application requirements are expected to further augment
demand for these products in the near future.
Asia Pacific
Coating Additives Market is expected to emerge as the largest regional market
by 2026. Presence of a fairly established manufacturing base in many nations of
the region along with India and several South East Asia’s increasing production
of automobiles, consumer goods, developing infrastructure, industrial
production etc. are the major factors driving the industry. Several research
and development projects undertaken by the industry participants along with
universities have been the major factors for the development of high
performance coating additive formulations in the region. Presence of a
well-established manufacturing base in the U.S. and significantly growing
automobile production market especially in Mexico and Canada apart from the
U.S. are the major factors driving the North American Coating Additives Market.
Some of the
leading coating additives market participants in this category of coating
production globally includes Solvay, DSM, Lord Corporation, Jotun A/S, Eastman
Chemical Company, Clariant AG, Cabot Corporation, Dynea as (Norway), Rhodia SA,
Double Bond Chemical Ind., Co., Ltd. , ICL Advanced Additives,
Kenrich Petrochemicals, Inc., Berger Paints, Beckers Group, Arkema SA,
Sherwin-Williams Company, AkzoNobel, Valspar Corporation, KCC Paint, Bayer AG,
Nippon Paint, Kansai Paint, PPG Industries, BASF and Axalta Coating Systems.
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