Increase in demand from emerging markets for conformal coatings and high demand in the automotive & transport and electronics industries are drives growth
NEW YORK CITY, NEW YORK, UNITED STATES, September 26, 2022 /EINPresswire.com/ — The global Coating Additives Market is forecast to reach USD 12.74 Billion by 2027, according to a new report by Reports and Data. This can be mainly associated with the increase in demand owing to its properties such as durability, scratch resistance, and glossy look, which are influencing the market growth. Growing popularity among end-users, especially automotive, shipbuilding, and pipeline industries, will also encourage the growth of the market.
The implementation of stringent regulations across several countries, regarding green and solvent-free coating technologies, will lead to a reduced amount of VOC emissions. This will boost the demand for coating additives worldwide. Ongoing research and development efforts and analysis of trends are enabling the research team to improve paint performance and create innovations that stand out in the marketplace. From better hiding, enhanced durability, and stain resistance to low- to no-VOC coatings with reduced environmental impact, binders and additives are increasing performance to meet and exceed end-user demands for coatings.
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Major companies AkzoNobel NV, BASF SE, Ashland Inc., Arkema SA, BYK-Chemie GmbH, Evonik Industries AG, Eastman Chemical Company, Lonza Group Ltd., Momentive Performance Materials Inc., and Cabot Corp.
Further key findings from the report suggest
The water-borne coating is majorly fueled by the growing demand for construction and the emergence of new buildings in both developed and developing countries. Electronics, automotive, and paper printing industry also play a part in boosting the market growth. They are finding a niche as it is quickly becoming an alternative for solvent-based coatings. It is supposed to be safer than solvent-based, which is harmful to the respiratory system.
The architectural coatings segment is on the rise, due to increasing applications, technological advancements, and the growing demand for coatings that makes substance, to which it is applied to make it more durable, boost its weathering performance with dynamic mechanical properties, such as improved corrosion resistance and improved flexibility.
Metal additive coatings separate a structural metal from the environmental corrosion. These types of coatings are used for the protection of steel, aluminum, zinc, and up to a certain extent, cadmium.
The Asia Pacific region accounts for 6.1% of the global coating additive market. Courtesy of increased applications of architectural coatings, rising constructional, and renovation activities in China, increased demand from the furniture market in India are boosting the growth of the market in the region.
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Segments covered in the report:
Outlook Type (Revenue, USD Billion; 2017-2027)
Acrylic Coating Additives
Urethane Coating Additives
Metallic Coating Additives
Fluoropolymer Coating Additives
Application Outlook (Revenue, USD Billion; 2017-2027)
Wood & Furniture
Outlook Functions (Revenue, USD Billion; 2017-2027)
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Key Regional Markets Covered in the Report:
North America (USA, Canada, Mexico)
Europe (Italy, UK, Germany, France, Rest of Europe)
Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
Middle East & Africa (Saudi Arabia, UAE, South Africa, Rest of Middle East & Africa)
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