Global Coating Additives Market 2017-2021
About Coating Additives
Coating additives are used in paints and coatings to enhance their performance and quality. Application of additives to the coatings helps in foam reduction, UV protection, gloss control, dispersion of solids, anti-catering, anti-chipping, and improvement of wetting. In terms of formulation, the global coating additives market is segmented into waterborne, solventborne and powder-based.
Technavio’s analysts forecast the global coating additives market to grow at a CAGR of 6.08% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global coating additives market for 2017-2021. To calculate the market size, the report considers the retail selling price as the average selling price of the product.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Coating Additives Market 2017-2021
Technavio recognizes the following companies as the key players in the global coating additives market: AkzoNobel, ALTANA, BASF, Evonik Industries, and The Dow Chemical Company.
Other Prominent Vendors in the market are: Arkema, Ashland, Eastman, Elementis, and Lubrizol.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is growth in chemical additives industry. Coating additives, such as anti-foaming, wetting and dispersion, biocides, rheology modification, impact modification, and other additives are increasingly being used in various industries, such as paints and coatings, building and construction, and others.”
According to the report, one of the major drivers for this market is increasing adoption of environment-friendly coatings and additives owing to growing environmental concerns. In many regions, the government is focusing on green initiatives that lead to decreased greenhouse gases in the environment. This will preserve, benefit, and protect the environment. To reduce the harmful effects of coatings, the governments of many countries, such as Germany, the US, Canada, and France are encouraging the use of emission-free materials, such as water-based coating additives for paints and coatings.
Further, the report states that one of the major factors hindering the growth of this market is rising raw material costs. Volatility in the prices of crude oil can affect the global coating additives market as the major raw materials required for the production of coating additives are sourced from crude oil. However, there is no scarcity in raw material supply. The market witnessed changes in sourcing of ingredients due to a decrease in production capacity in Europe.
AkzoNobel, ALTANA, BASF, Evonik Industries, and The Dow Chemical Company. Other Prominent Vendors in the market are: Arkema, Ashland, Eastman, Elementis, and Lubrizol.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook