Paint additives are substances that are added to paint formulations to enhance the characteristics of the paint. Integration of additives to paint formulation enables the paint to stick better, limits the growth of mildew and improves the smell and anti-bacterial properties of the paint, in addition to enhancing flow of the paint. The paint and coatings industry has been put under significant pressure by stringent environmental regulations in the recent years. In a bid to minimize impact of their products on the environment, which is an effect of increasing pressure from society and regulations, several manufacturers of coatings and paints began reformulating their products. As a result, demand for novel additives that ensure aid in addressing the concern increased in the recent years.
The U.S. dominates the world paint additives market as the single largest market, according to a new market research report on paint additives market, “Paint Additives: A Global Strategic Business Report.”
The credit crisis in 2007 and the subsequent recession in 2008 decelerated growth in value demand of paint additives in the U.S. Demand for paint additives is expected to revive in the upcoming years, owing to increasing demand for these products from formulators in an effort to adhere to changing legislations. Europe, as an affiliate region, leads the global market for paint additives.
Growth in the global market for paint additives is primarily originating from emerging markets such as Asia-Pacific. The rapid economic growth in most of the emerging countries in the recent years resulted in rampant architectural construction and industrial activity, which created significant demand for paints and additives that in turn rocketed demand for paint additives. Owing to continued growth in the architectural construction activity in countries such as India and China, Asia-Pacific is expected to emerge as the fastest growing regional market for paint additives worldwide in the forthcoming years.
The report published by Global Industry Analysts, Inc. provides a comprehensive review of market trends, competitive scenario, product introductions, and recent industry activity. The study analyzes market data and analytics in terms of value sales for regions including the U.S., Japan, Europe, Asia-Pacific and rest of world (ROW). For more info visit www.strategyr.com/paint_additives_market_report.
Global Paint Additives Market to Exceed $6.0 Billion by 2015
Published March 16, 2010
Related Paint & Coatings Manufacturer News
Related Breaking News