The rapidly growing demand for coating additives from numerous end-use industries is anticipated to be the major driver for the market. Coatings are complex and versatile solutions and are generally known for offering better challenges to formulators in comparison to any other product.
The global coating additive market has changed substantially in the last decade and is likely to continue with the changes during the forecast period due to its highly competitive characteristics.
The essential constituents of coatings, the process of its composition and environmental-based parameters have mainly driven the innovation for this market. The regulatory framework backed up by environmental & health concerns includes a reduction or complete elimination of volatile organic compounds (VOC) or any other constituent that is known to be hazardous in nature.
The application sectors for coating additives have witnessed moderate growth, however, demand for a novel and innovative additive compositions are anticipated to increase rapidly. Pressure due to the environmental impact of these coating additives is considered to be a major driving parameter driving forces for the advent of new types of coating additives. Also, significant focus has been levied upon the appearance effect d these additives coupled with the costs of its utilization. Stringent regulatory framework and changing consumer behavior concerning the environment-friendly products have forced coating manufacturers to launch innovative and sustainable products.
New and highly complex environmental policies & regulations, introduced specifically to minimize the waste and support recycling & recovery of additives, have resulted in new additive technologies and their manufacturing techniques.
The report provides an extensive qualitative and quantitative analysis of the market trends and growth prospects of the Global Coating Additives Market, 2017-2026. This report comprises a detailed geographic distribution of the market across North America, Europe, APAC and South America, and MEA. North America is further segmented into U.S., Canada. Europe is divided into Germany, the UK, Italy, and rest of Europe. Asia-Pacific is bifurcated into China, India, Japan, and the rest of Asia-Pacific.
The coating additives market is fragmented with a large number of international and domestic players. Asia Pacific was the largest coating additive regional market in 2017. This was mainly on account of rapid growth in the industrial production in tandem with the rapidly growing automobile and construction sector that has resulted in increased consumption of paints & coatings and their additives. Developing nations such as India apart from other countries such as China, Japan, and South Korea Apart from South Korea, has contributed significantly to the regional growth by becoming a major manufacturing hub of additives.
European nations including France, Germany, Italy, and the UK are likely to be some of the significant countries to produce considerable demand by 2026 in Europe. North America is yet another significantly growing coating additives market in terms of concerning increasing consumption and production.