Paint Additives Market Size, Share & Trends Analysis Report By Product (Rheology Modifiers, Biocides), By Application (Architectural, Automotive), By Region, And Segment Forecasts, 2023 - 2030

Paint Additives Market Size, Share & Trends Analysis Report By Product (Rheology Modifiers, Biocides), By Application (Architectural, Automotive), By Region, And Segment Forecasts, 2023 - 2030

Paint Additives Market Growth & Trends

The global paint additives market size is expected to reach USD 12,168.98 million by 2030, as per the new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 3.8%. The industry is driven by growing demand from industrial and architectural segments. Paints and coatings are used in a wide range of applications in industries such as oil and gas, marine, aerospace, cookware and household, furniture, machinery, and automotive.

Currently, an increasing number of industry participants are moving toward manufacturing “green paints” - environment-friendly paints with zero volatile organic compound. This trend is primarily owing to a shift in consumer preferences, influenced by stringent regulatory policies. These aspects are expected to positively influence the market over the forecast period.

Paints and coatings product range is very versatile, including protective, decorative, industrial, architectural, specialty and high temperature coatings and paints. Each type of coating and paint has their own function and the advantages depending on the type of additives used and the required function in various end-use industries, which in turn is expected to boost demand for these products from various industries and regions.

Increase in construction spending in emerging economies is expected to boost demand for various types of paints and coatings in the buildings and construction segment, consequently driving demand for paint additives. Surge in demand for paints and coatings, particularly powder-based coatings, is expected to benefit the overall product sector.

The growth of paint and coating market is highly dependent on the region as its applications depend on the pace at which an economy is growing. The mature markets for paint and coating are U.S., Japan and Europe. The fastest growing market for this segment is in Asia-pacific region. Production in Asian region accounts for approximately 55.0% of the total global production. This is turn expected to positively impact the paint additive industry in the region.

The global market is regulated by different regulatory agencies with policies and norms from environmental to economic policies. Key regulatory policymakers that command dynamics of industry include council of European Union, Occupational Health and Safety Associations (OSHA), and other regional regulatory agencies.

Paint Additives Market Report Highlights

• The architectural application segment is anticipated to register the highest CAGR of 4.5% from 2023 to 2030, on account of growing construction activities in developing countries, particularly in Asia Pacific and Central and South America
• The Rheology modifiers is the fastest growing product segment by revenue with a CAGR of 4.4% from 2023 to 2030. The growth is mainly triggered by its high usage to reduce spattering and dripping of paints during brush application
• The industry in Asia Pacific is projected to account the fastest growth by revenue with a CAGR of 4.1% from 2023 to 2030, owing to thriving construction, automotive, and marine industries

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