Coating Additives Market- New Technological Development Projecting Massive Growth till 2032

 The global coating additives market is expected to register a robust CAGR of about 4.8% between 2022 and 2032. The market was evaluated at around US$ 10,613.3 Million in 2021 and is predicted to reach US$ 17,724.8 Million by 2032. According to the historical period, the global coatings market registered a healthy CAGR of 4.0% between 2016 and 2021.

This growth is attributed to surging demand from a wide range of industries. Being one of the most crucial ingredients, coating additives are made up of such crucial ingredients consisting of coating formulations that help in regulating its performance. These additives are utilized in a variety of products, including automotive coatings, furniture, and construction.

The rising demand for coatings additives is attributed to their widespread usage in several end-use industries such as automotive, architecture, wood & furniture, and others are expected to drive the market. Considering this, the global coating additives sales are projected to increase at 1.6x, exceeding US$ 11,090.9 Mn in 2022.

Coating additives are widely used to comply with stringent zero-VOC emission regulations, and various governments all over the world are increasing the demand for eco-friendly additives. Therefore, the introduction of green coating in several industries is expected to increase its sales.

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Competitive Landscape

In order to efficiently meet the surging demand for functional additives, leading players in the coating additives producers’ market are creating novel products and expanding their geographic reach. For having a strong presence in the global market, it is crucial to make sure that prominent manufacturers in the market are also signing long-term supply contracts with raw material suppliers and end users.

Key Players: –Akzo Nobel NV, Arkema SA., Ashland Global Holdings Inc., BASF SE, BYK-Chemie GmbH, Asahi Glass Co., Ltd., Dow Chemical, Evonik Industries AG, Solvay SA, Momentive Performance Materials, Inc., Arch Chemicals, Lonza Group AG

More Insights into the Coating Additives Market

China is known as a crucial producer of coating additives, providing a sizable portion of the global paint supply. The output of coatings in China has witnessed significant growth, especially in the paint and construction sectors rise. In addition to that, domestic consumption is rising due to the rapid expansion of industries such as real estate and automotive.

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