The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

As per The Business Research Company’s Coating Additives Global Market Report 2024, the coating additives market is expected to show significant growth in the forecast period.

The coating additives market has experienced robust growth in recent years, evolving from $9.36 billion in 2023 to an anticipated $10.22 billion in 2024, marking a remarkable compound annual growth rate (CAGR) of 9.2%. This surge can be attributed to various factors, including the expansion of the construction industry, heightened demand for paints and coatings, industrial manufacturing advancements, increased regulatory compliance, and growing environmental concerns.

Future Growth Prospects:

The positive trajectory is expected to continue, with forecasts indicating a substantial increase in market size. By 2028, the coating additives market is projected to reach $14.36 billion, driven by a CAGR of 8.9%. Anticipated contributors to this growth include infrastructure development, automotive industry demands, rapid urbanization, the rise in biodegradable additives’ usage, and the expanding markets globally.

Forecasted Trends:

As the market evolves, several key trends are expected to shape its landscape in the coming years. Notable trends include innovations in architectural coatings, the emergence of customized additive solutions, ongoing technological advancements, the introduction of innovative specialty coatings, and the incorporation of high-performance additives.

Robust Growth In Construction Sector Fuels Coating Additives Market

Construction’s Impact:

The construction sector plays a pivotal role in propelling the coating additives market forward. These additives find applications in enhancing viscosity, surface effectiveness, and impact resistance of substrates within construction projects. The global surge in residential and commercial construction activities, coupled with a growing preference for environmentally friendly additives, further fuels market growth.

Statistics Speak:

According to the United States Census Bureau, in February 2023, the number of privately owned housing units approved by building permits reached 1,524,000 on a seasonally adjusted yearly basis, reflecting a substantial 13.8% increase from the previous month.

Key Market Players:

Major companies contributing to this growth include industry stalwarts such as Akzo Nobel NV, Clariant AG, Dow Chemical Co., Evonik Industries AG, and BASF SE, among others.

Innovative Coating Additives By Major Companies Enhance Market Competitiveness

Strategic Innovations:

To stay competitive, major players in the coating additives market are continually introducing advanced and unique solutions. These innovations aim to enhance coating quality and application efficiency, allowing for product personalization. For example, Evonik Industries AG launched TEGO Rad 2330, a radically crosslinkable coating additive designed for radiation-curing coatings and inks, demonstrating improved slip, substrate wetting, and minimal foaming.

Strategic Acquisition:

In a strategic move, The Sherwin-Williams Company acquired Gross & Perthun GmbH in July 2022. This German-based coating additive manufacturer specializes in industrial coatings and special paint systems. The acquisition provides Sherwin-Williams with cutting-edge technology, premier specification positions, strong client connections, and an experienced team dedicated to delivering value-added solutions.

Market Segmentation and Regional Dominance

Segmentation Overview:

The coating additives market is segmented based on type (Acrylics, Fluoropolymers, Urethanes, Metallic Additive, Other Types), function (Anti-foaming, Wetting & Dispersion, Rheology modification, Biocides, Impact Modification, Other Functions), and application (Architectural, Automotive, Industrial, Wood & Furniture, Other Applications).

Regional Dominance:

Asia-Pacific emerged as the largest region in the coating additives market in 2023, with continued growth anticipated. It is expected to be the fastest-growing region in the forecast period, showcasing the region’s significant influence on market dynamics.

View More On The Coating Additives Market Report 2024 – https://www.thebusinessresearchcompany.com/report/coating-additives-global-market-report

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The Coating Additives Global Market Report 2024  provides an in-depth analysis on the coating additives market size, trends and drivers, opportunities, strategies, and companies analysis. The countries covered in the coating additives market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

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