Plastic Coatings Market Market Breakdown, Development and New Market opportunities & Forecasts 2021-

Paint Additives Market Overview -

The Paint Additive Market is estimated to grow at a CAGR of over 6.4% during the assessment period. Paint additives are chemicals added to paints for improving specific properties such as mildew resistance, good flow, and leveling. It can improve the production and storing properties of paints. The global paint additives market report by Market Research Future (MRFR) comprises trends, opportunities, drivers, and challenges with a look at value and volume for the period of 2021 to 2030 (forecast period).

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Eminent Firms:

Some of the prominent players operating in the Paint Additive 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., and others.

Drivers and Restraints:

Massive demand from architectural and industries for paint additives for increasing the luster and performance of paints can drive market demand exponentially. Large infrastructural budget in developing economies for modernizing its current cities can work in favor of the market. This is evident by the massive demand for powder coatings.

The inclination towards eco-friendly paints can create a plethora of opportunities for the market. Eco-friendly paints contain low to zero VOC content and use sustainable sources for its production. Strict regulations barring its use will lead to rise in eco-friendly paints and preference from end-users. Increasing demand for sustainable solutions in light of regulations can change the expansion strategies of paint manufacturers.

Stringent regulations pertaining to volatile organic compounds (VOCs) can impede market growth.

Industry Trend:

Research and developments in this segment are opening up various avenues that can impact the global plastic coating market during the forecast period. For instance, Hind High Vacuum Co (HHV) in April 2018, developed a new method of vacuum coating with the power to shield electronic devices from Electromagnetic electromagnetic Radiation radiation Interference interference (ERI) in diverse sectors, such as electronics, telecommunications, medical instrument, flat panel displays, sensors, aircraft canopies, and membrane switches.

Also, growing construction activities across the globe are expected to contribute to market revenues. A spurting growth in the automotive and transportation industry is acting as a key driving force for the market growth. Additionally, factors such as the advancements in coating technology, growth in the paints & coatings sectors, and untapped or disuse markets are generating a huge market demand.

Also, Paint Additives make a great choice for wearable light-emitting devices. The ability to power wearable light-emitting devices without bulky energy generators and storage systems remains a major obstacle in the way of incorporating these wearable devices into everyday life. The chemical stability and safety for skin that metal-coated clothing offers make it an excellent choice for wearable materials.

On the other hand, fluctuating prices and the demand-supply gap of the raw materials required for the production of Paint Additives are impeding the growth of the market. Also, stringent regulations pertaining to the Paint Additives production, alongside the highly capital intensive nature of the market is projected to hamper the market increase, barring the entry for new market participants.

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Segment Study of Paint Additives Market :-

The global paint additives market is segmented into type and application. On the basis of the product type, the market is segregated into rheology modifiers, biocides, anti-foamers, wetting and dispersion agents, and others. 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. These additives can increase or decrease the viscosity of water-based paints. Furthermore, the use of water-borne paints in the construction industry can fuel segment growth in the global paint additives market.

On the basis of the application, the market is further segregated into architectural, industrial, wood and furniture, automotive and others. The architectural segment is projected to lead in the global market during the forecast period. This can be attributed to construction of modern homes and development of new sites. Architectural coatings are used in wall paints, roof coatings, and deck finishers.

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Paint Additives Market Market - Geographical Analysis :-

Based on the region, the market is segmented into North America, Europe, Asia Pacific (APAC), Latin America, and the Middle East & Africa (MEA).

APAC was the biggest region for the global paint additives market in 2017 owing to expansive growth of automotive and construction industries. The steady GDP of nations in the region in conjunction with the increased purchasing power of consumers can drive the market growth. The increasing population and rapid urbanization can have a positive impact on the regional market. India, China, and Malaysia can induce massive demand for these additives. Improved standards of living and purchase of vehicles by customers can fuel market growth.

North America is pertinent to the global paint additives market owing to construction and automotive sectors. Rise in government spending in beautification of cities, especially renovation and construction of commercial and residential building in Canada, and inclusion of additives in personal care and homecare products will trigger the market demand.

The global paint additives market is bound to accrue significant revenues in Europe due to the presence of various automotive manufacturers and revival of various industries. But strict government regulations can dampen its growth. Lastly, the MEA can display a positive growth rate due to automotive and construction sectors.

Industry News

In 2019, Evonik Resource Efficiency launched its VP Disp. WF 7620, the newest rheology control dispersion in their portfolio under the Coating Additives Business Line. This product is based on the waterborne systems. introduction of such products is driving growth of the global paint additives market.

February 2020: Coating additives & specialty catalyst solutions company Milliken & Company has acquired specialty chemicals company, Borchers Group.

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