Coating additives are low-level ingredients that possess specific paint properties such as mildew resistance, de-foaming, and good flow and leveling. Pigments, binders, additives and mixtures are the major elements that enhance the functioning of coating thereby, increasing demand in coating additives market. Coating additives are formulated into water-borne, solvent-borne and powder. Water-borne coating have water as liquefying agents thereby, dissolving the elements for coating. Such coating is used for closed or compact areas and do not cause any harmful emissions. In solvent-borne coating, organic solvents such as polyurethanes and enamels are present in the coating which act as a liquefying agent. These coating are hazardous in nature owing to the harmful emissions of solvents or Volatile Organic Compounds (VOCs). In powder-borne coatings, electrostatic attraction is used to apply paints thereby, providing a coating finish with desirable thickness, enhanced coating durability and flexibility. Additionally, there are other coating additives such as radiation curable and solvent less that are deployed in various applications.
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The global coating additives market is expected to grow during the forecast period (2017-2023) driven by the growing demand from architecture, automobile, industrial, and wood and furniture industries in China, India and Japan. Based on types, acrylic additives segment is expected to witness the largest growth during the forecast period. Rheology modification function is expected to dominate the global market during the forecast period. By formulation, water-borne coating is estimated to witness significant growth during the forecast period.
The key trend observed in the market include the development of high quality additives by companies through new technologies and raw material sources. Major players such as AkzoNobel N.V., Arkema, Ashland Inc. and BASF SE have been investing in research and development (R&D) activities to produce superior and bio-based products to broaden their market presence to retain market share in the global coating additives market.
The increasing use of urethane-based coating additives in construction, industrial and automotive applications is expected to drive the global market during the forecast period. The growth in the construction industry driven by the rise in infrastructure expenditure in the emerging markets of Asia-Pacific and Latin America is expected to contribute to the rise in demand for coating additives at a significant level. Asia-Pacific is expected to emanate the largest demand during the forecast period due to the rise in production of coating additives in China.
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Volatile prices of raw materials such as urethane, acrylate and silicones on account of fluctuating petrochemical prices and high supply-demand gap is expected to pose as a threat to the market participants in terms of pricing, end-product supply and profitability. Additionally, the industrial discharges or solid waste of paints and coating materials interfere with the local sanitary sewers resulting in discharge of pollutants into local waterways thereby increasing the concern for the protection of the environment. This would further hamper the growth of the coating additives market during the forecast period.
The key players operating in the global coating additives market include AkzoNobel N.V., Arkema, Ashland Inc., BASF SE, Atlanta AG, The DOW Chemical Company, Solvay, Evonik Industries AG, Momentive Performance Materials Inc., and Eastman Chemical Company.
- Anti-foaming agents
- Wetting and dispersing agents
- Rheology modification
- Impact modification
- Wood and furniture
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