New Jersey, NJ, Aug. 26, 2019 (GLOBE NEWSWIRE) -- The increasing demand from the fields of architecture, industries, automobile, and wood & furniture industry is proving to be the major driving force for the demand. The global coatings additives market is expected to grow from USD 7.46 billion in 2017 to USD 12.34 billion in 2025 at a CAGR of 6.49% during forecast period 2018-2025, according to the new report published by Fior Markets.

Coatings additives are compounds that enhance the inherent properties of the coatings like gloss, flow, viscosity and stain resistance. Coatings are dominantly used in the construction sector. Increased spending on infrastructure and housing development in developing economies of Asia Pacific are expected to fuel the demand over the forecasted period for coatings and paints in general and coating additives in particular.

Increased spending on infrastructure and housing development in developing economies of Asia Pacific are expected to fuel the demand over forecasted period for Coatings and paints in general and Coating additives in particular. Development of new coating additives with better abrasion, corrosion, liquid and chemical resistance are further expected to enlarge the coating additives market. Supply side bottlenecks as well as volatility in crude oil price are proving to be the major drag on the growth.

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Key players operating in the coating additives markets are Evonik Industries, AkzoNobel NV, BASF AG, Arkema SA, BYK- Chemie GmbH, Eastman Chemicals, Dow Chemical Company, Lubrizol Corporation, Solvay S.A., Momentive Performance Materials Inc, Ashland Inc, King Industries Inc., Valsparamong others. The increasing demand from the fields of architecture, industries, automobile, and wood & furniture industries due to increased spending on housing and infrastructure as well as unabated demand for automobiles are the moving forces behind the growing demand for coating additives.

Water-borne formulations led the market with a revenue of USD 3.13 Billion in 2017

The formulation type is segmented into Solvent-borne, Water-borne and Powder based. Due to their harmful property of giving out toxic fumes, solvent-borne system is witnessing decrease in its market share. Water borne formulations are expected to hold their dominant position over the forecast period.

Fluoropolymers segment is expected to grow at a CAGR of 8.72%.

The type segment is classified on the basis of acrylics, fluoropolymers, urethanes, metallic additive and others. Acrylic and urethanes additives hold the major share of the market, in terms of volume. Owing to their property of providing excellent protection against chemicals, abrasion, temperature, and corrosion among others. Fluoropolymers and metallic additives for coatings segments are expected to witness the highest growth rate with respect to other types during the forecast period.

Rheology modification function segment dominated with 42.51% market share.

The Coating Additives by function are further subcategorized into Rheology Modification, Biocides Impact Modification, Anti-Foaming, Wetting & Dispersion, Others. On account of its property of protecting paint films against microbial damage, Biocides Impact Modification segment is expected to grow at a robust pace due to demand from the humid parts of the world where fungal and algal damages are prevalent. Rheology modification function is projected to dominate the coating additives market during the forecast period and is slated to achieve a market share of 42.51% of the total revenues in 2025 on account of its property of providing better finishing to the coating surface.

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Architectural segment is anticipated to attain a value of USD 2.90 Billion in 2025.

Applications Segment is segmented into architectural, automotive, industrial, wood & furniture and others. Growing commercial, residential and infrastructural construction in developing economies is propelling the growth of architectural segment towards attaining a market share of USD 2.90 billion in 2025. Furthermore, the increase in disposable income is escalating the demand for coating additives in automobiles and furniture industries which is also expected to drive the coating additives market in upcoming years.

Regional Segment Analysis of the Coating Additives Market

Asia Pacific region dominated the global coating additives market with 36.27% of total revenue in 2017 whereas the North America region is at second most dominant position in the global coating additives market. Asia Pacific Region is projected to report the highest growth rate at a CAGR of 8.45% over the forecast period in terms of volume due to massive spending that has been undertaken in the fields of infrastructure, housing and industries. Rising disposable income in the hands of the population is promoting massive demand for automobiles leading to a demand for automotive coating additives. Well-developed timber industry and availability of skilled labour for carpentering and wood works is also bound to raise the demand for coating additives in this part of the world. North America and Europe are expected to register a moderate growth rate at a CAGR of 6.62% and 6.52% respectively over the forecast period owing to stagnant nature of their economies.

About the report:

The global coating additives market is analysed on the basis of value (USD Billion), volume (Kilotons), consumption (Kilotons), imports (Kilotons) and exports (Kilotons).All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.

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