Industry Segments:
The global paint additives market is segmented into type, application, and region. On the basis of the product type, the market is segregated into rheology modifiers, biocides, anti-foamers, wetting and dispersion agents, and others. On the basis of the application, the market is further segregated into architectural, industrial, wood and furniture, automotive and others. Based on the region, the market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Based on the region, the market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa
Top Key Players:
Some of the key players operating in the global paint additives market are Akzo Nobel NV, Arkema SA, Ashland Global Holdings, Inc., BASF SE, BYK-Chemie GmbH, Asahi Glass Co., Ltd., Dow Chemical, Evonik Industries AG, Arch Chemicals, Lonza Group AG, and Daikin Industries, Ltd.
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Market Synopsis:
Paint additives are special ingredients used for enhancing the functional performance and the quality of the paints. These additives modify the viscosity, impact resistance, anti-chipping, foam reduction, and gloss control in paints and thereby increase the efficiency. The global paint additive market is estimated to grow at a CAGR of over 6.4% during the assessment period, 2018–2023. The global paint additives market is mainly driven by the growing demand from the industrial and architectural segments. Moreover, the growth in the global paint and coating industry directly affects the demand for paint additives. Paints and coatings are extensively used in various industries ranging from oil and gas to automotive. Furthermore, growing inclination to green paint is a major opportunity for the market and is expected to generate a substantial revenue during the review period. However, strict environmental regulations regarding the VOC content in paints is expected hinder the growth of the global market.
On the basis of product type, rheological additives are projected to hold the highest market share during the assessment period as result of growing adoption of these additives in automobile and building & construction sectors. Among the various application segment, the architectural segment is projected to lead the global market during the forecast period.
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Detailed Geographical Analysis:
Based on the region, the market is segregated into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Asia Pacific was leading the paint additives market in 2017 and is expected to grow at a significant rate during the review period with construction and automobile industry.
North America emerged as the second largest market in 2017 owing to the presence of major paint and coating manufacturers. Furthermore, the burgeoning automobile industry coupled with increased spending on construction activities is likely to propel the market growth.
Europe is a prominent region in the global paint additives market with growing paint and coatings industry as a result of rising construction spending in Germany. However, the strict EU regulations in the region are expected to restrict the market growth to some extent.
Latin America and the Middle East & Africa are emerging markets, which are likely to show healthy growth during the review period. The growing industrialization in this region is projected to drive the growth of the paint additives market.
Intended Audience
- Paint additives manufacturers
- Traders and distributors of paint additives
- Research and development institutes
- Potential investors
- Raw material suppliers
- Nationalized laboratory
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