The global market size of coating additives was USD 6.39 Billion in 2015 and is expected to reach USD 9.19 Billion by 2021, registering a CAGR of 6.1%

Northrook, IL -- (SBWire) -- 10/24/2019 --The Coating Additives Market is projected to reach USD 9.19 Billion by 2021, registering a CAGR of 6.1% between 2016 and 2021. The growing construction and automotive industries is expected to drive the coating additives market during the forecast period. China, Korea, Japan, and India are witnessing high demand for high quality construction materials. In addition, the growing automotive sector in these countries is fueling the demand for coating additives.

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"Water-borne formulation for coating additives is expected to dominate the market"
Water-borne formulation is expected to be at the forefront of the coating additives market. The stringent environmental regulations in North America and Europe will drive the demand for water-borne formulations in architectural application due to presence of non-hazardous chemicals. With the tightening of regulations over VOC content, the formulators are forced to either use additives that help in reducing the VOC content or shift to water-borne formulation. However, solvent-borne formulation is also expected to show moderate growth rate due to its use in Asia-Pacific due to less stringent environmental regulations.

Coating additives market to be dominated by architectural application between 2016 and 2021
The major applications for coating additives are architectural, automotive, industrial, and wood & furniture. Architectural application accounted for the largest share of the coating additives market. The growing construction sector globally will drive the demand for coating additives, which are widely used in paints and coatings for protection of various materials under extreme conditions. The ability of the additives to provide protection from moisture, microbial growth, heat, and chemical factors makes it ideal for protection. Coating additives are extensively used in formulations for underground pipes, civil engineering projects, towers, offshore structures, and chemical industries. The heat-resistant property of some coating additives makes them important in electrical and electronic applications; and its use in these applications is expected to increase in the future.

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Asia-Pacific to be the largest market
The coating additives market is broadly segmented into five regions, namely, Asia-Pacific, North America, Europe, the Middle East & Africa, and South America. Asia-Pacific is expected to dominate the coating additives market during the forecast period. The major contributor to the region's growth is the fast-growing economy in the countries such as China, India, Japan, and South Korea.

The global coating additives market is dominated by various market players such as BYK-Chemie GmbH (Germany), AkzoNobel N.V. (Netherlands), Arkema SA (France), Evonik Industries AG (Germany), BASF SE (Germany), The DOW Chemical Company (U.S.) and Ashland Inc. (U.S.).

The target audience for the coating additives market report is:
- Coating additives manufacturers
- Coating additives suppliers
- Government and research organizations
- Coating traders, distributors, and suppliers
- Investment banks and private equity firms
- Raw material suppliers
- Service providers
- End users such as automotive, architecture, furniture & textiles, and other industrial applications

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The value chain of coating additives include raw material manufacturers such as SABIC (Saudi Arabia), Allnex (Belgium), ExxonMobil (U.S.). Additives are manufactured by various players in the industry such as BYK-Chemie (Germany), BASF (Germany), AkzoNobel N.V. (Netherlands), Arkema (France), and Evonik Industries (Germany). The manufactured products are then used by the formulators or paint/coating manufacturers to achieve desired property for their products. Thus, the formulators develop, manufacture, and package the finished product, which is then distributed to its end-use application through logistics service providers. Some of the major paints/coatings manufacturers are DuPont (U.S.), Sherwin-Williams (U.S.), and The DOW Chemical Company (U.S.). Companies such as Nexeo Solutions (U.S.), Univar (U.S.), DKSH (Switzerland), Brenntag Group (Germany), and Connell Brothers (U.S.) have their presence and warehouses covering a wide region across the globe, which has helped them in becoming the key players in marketing and distribution of chemicals.

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