Asia-Pacific Coating Additives Market - Segmented by Type, End-user Industry, and Geography - Growth, Trends, and Forecast (2018-2023)
The Asia-Pacific coating additives market is expected to witness a CAGR of 6.03% during the forecast period, 2018 to 2023. In 2017, in terms of volume, China dominated the Asia-Pacific coating additives market, holding a share of almost 70%, owing to the rising demand for automobiles and construction of buildings in the country. Coating additives are the materials employed in coatings to enhance the properties, such as rheological properties, improving flow and leveling, foam reduction, and adhesion improvement.
Growing Demand from Construction Industry to Drive the Market
The construction industry in Asia-Pacific is expanding at a very rapid rate primarily from major economies, such as China, India, and ASEAN countries. This is majorly due to the increasing population, rise in disposable incomes etc. Both commercial and residential sectors are on a verge of growing due to the increasing business opportunities in the region. Increasing government and private spending on the construction industry is another factor boosting the construction industry in the region. The entry of major construction players from the European Union in the lucrative market in countries, such as China and India, in the recent years, has fueled the market growth. Boom in China real estate industry, since near past, has resulted in a positive demand for additives in paints & coatings in the country. The major demand is from small cities, such as Bengbu etc.All these factors, in turn, are driving the demand for Paints & coatings, which, in turn, have a direct impact on coating additives in Asia-Pacific.
Dispersants & Wetting Agents to Lead the Market
Dispersing agents and wetting additives play a very vital role in various types of coatings by wetting and dispersing the pigments/colorants. These additives help paints by increasing gloss, strength etc., and preventing sedimentation of particles in the product thus enhancing the aesthetic look of the paints. Wetting agents help in wetting the particle surface in order to remove air from the dry pigment powder and helps in replacing air by liquid. The increasing paints and coatings market primarily for gloss look on furniture and walls is estimated to have a positive impact on global dispersants market during the forecast period.
China to Dominate the Additives Market
With the increasing population and foreign investments, the construction industry in China is witnessing a significant growth since near past. This scenario is driving the demand for paints & coatings in the country. This in turn is boosting the growth of paints & additives market. China is the major consumer of wood coatings accounting for a global share of 40% in terms of volume. The increasing furniture production due to rapid demand in the country is boosting the wood coating additives at a significant rate. Increasing foreign investments in paints and coatings sector owing to the factors, such as cheap labor and availability of raw materials, paints & coatings additives market is likely to expand at a significant rate in the next few years. This scenario is boosting the additives market.
Key Developments in the Market
November 2017: Clariant is likely to start high performance additives production in China during 2018
Major Players: Altana AG, Arkema SA, Evonik Industries AG, The Lubrizol Corporation, DowDuPont, K-TECH (INDIA) LIMITED, among others.
Reasons to Purchase the Report
Current and future of coating additives market in the developed and emerging markets
Analyzing various perspectives of the market with the help of Porter’s five forces analysis
The segment that is expected to dominate the market
Countries that are expected to witness fastest growth during the forecast period
Identifying the latest developments, market shares, and strategies employed by the major market players
3-month analyst support, along with the Market Estimate sheet (in Excel)
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