Paints and Coatings Additives Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Paints and Coatings Additives Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The market for paints & coatings additives market is expected to expand at a CAGR of more than 6% during the forecast period. The major factor driving the market studied is the increased demand for architectural coatings.

Key Highlights

• Increasing demand for rheology modifiers in various industries is likely to act as an opportunity in the future.
• Asia-Pacific dominated the market across the globe with the largest consumption in China and India.

Key Market TrendsArchitectural Segment to Dominate the Market

• The architectural segment includes additives used in coatings for commercial purposes, such as office buildings, warehouses, retail convenience stores, shopping malls, and residential buildings.
• Some of the majorly used additives for architectural coatings include rheological modifiers, defoamers, dispersants, and wetting agents.
• In general, the additives used for architectural coatings help in enhancing surface properties, stabilizing pigment, enhancing wetting and dispersing properties and defoaming properties, etc.
• The increasing demand for decorative coatings in houses, for greater aesthetics, is estimated to boost the demand for paint and coating additives in architectural coatings at a significant rate in the next few years.
• Thus, the demand for paints and coatings is increasing, in turn having a direct impact on the additives market.

Saudi Arabia to Dominate the Middle East & Africa Region

• Saudi Arabia is aiming for the development of its paints and coatings sector, and is on the way to become the center for paints and coatings supply chain in the Middle Eastern region, leveraging its easy access to key feedstock, production of basic molecules, and access to the regional market.
• Saudi Arabia has a persistent expedition in making some of the tallest, largest, and biggest structures. The paints and coatings industry in the country is expected to register a steady growth in coming years, as the construction industry is poised to witness sturdy growth in the forthcoming years, in turn, augmenting the demand for coating additives.
• According to the Major Building Expo in Riyadh, the Saudi construction industry is poised for tremendous growth over the next five years, with 700 new projects set to be launched in the coming next months and targeted for completion by 2022. The value of Saudi Arabia’s 2018 construction projects has surged to USD 284.3 billion.
• Saudi Build took place amid increased construction activities, especially in the industrial and commercial sectors in the local market, in keeping with the goals of the National Transformation Program 2020 and Saudi Vision 2030.
• Furthermore, residential units, the city will comprise commercial and retail centers, and health and educational services. The city will also have modern transportation links, including its own private airport and seaport.
• Such initiatives by the government are expected to rapidly boost the construction industry, further boosting the consumption of coating, and in turn, coating additives in the construction sector.
• The aforementioned factors are expected to boost the consumption of coating additives in the industrial sector over the coming years

Competitive Landscape

The paints & coatings additives market is consolidated. The major companies include Dow, Solvay, Altana Group (BYK), Ashland, and Elementis PLC, among others.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Companies Mentioned

AGC Inc
ALTANA
Arkema Group
Ashland
BASF SE
Cabot Corporation
DAIKIN INDUSTRIES, Ltd
Dow
Dynea AS
Eastman Chemical Company
Elementis PLC
Evonik Industries AG
K
Tech (India) Limited
Momentive
Nouryon
Solvay
The Lubrizol Corporation

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