Paints and Coatings Additives Market Revenues to Reach USD 10.19 billion by 2028 - Market Size, Share, Forecasts, & Trends Analysis Report by Mordor Intelligence

Hyderabad, Aug. 10, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled “Paints and Coatings Additives Market Report (2023-2028),” the market is estimated at USD 8.47 billion in 2023. It is expected to register a CAGR of 3.76% during the forecast period.

Additives are a small number of raw materials included in paints or coatings to enhance properties. The market is segmented based on type and application. COVID-19 adversely impacted the market for paints and coatings additives in 2020. Nevertheless, with the resumption of work in major end-user industries, the market is expected to grow steadily in the coming years. The heightened demand for architectural coatings is the major factor driving the market studied.

Report Summary:

Report AttributeDetails
Market Size (2023)USD 8.47 billion
Market Size (2028)USD 10.19 billion
CAGR (2023-2028)3.76%
Study Period2018-2028
Forecast UnitsValue (USD billion)
Fastest Growing MarketAsia-Pacific
Largest MarketAsia-Pacific
Report ScopeMarket Dynamics, Revenue Forecast and Segmentation, Competitive Landscape, and Recent Developments, Market Growth, Future Opportunities, and Trends
Key Market DriversIncreased demand for architectural coatings.
Resumption of work in major end-user industries.

Who are the Top Companies in the Paints and Coatings Additives Market?

The market is partially consolidated in nature. The noteworthy players in the global paints and coatings additives market are:

  • AGC Inc.
  • Arkema
  • Ashland
  • Cabot Corporation
  • Dow
  • Dynea AS
  • Eastman Chemical Company
  • Evonik Industries AG
  • Momentive
  • Nouryon
  • Solvay
  • The Lubrizol Corporation

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Key Highlights from the Paints and Coatings Additives Market Report:

 Architectural Segment to Dominate the Market

  • The architectural segment incorporates additives used in coatings for commercial purposes, such as office buildings, warehouses, retail convenience stores, shopping malls, and residential buildings.
  • Certain majorly used additives for architectural coatings incorporate rheological modifiers, defoamers, dispersants, and wetting agents.
  • In general, the additives employed in architectural coatings help to enhance surface properties, stabilizing pigment, enhancing wetting, dispersing, and defoaming properties, etc.

APAC to Dominate the Market

  • The Asia-Pacific region is aiming for the development of its paints and coatings sector. It is swiftly becoming the center of the global paints and coatings supply chain, leveraging its easy access to key feedstock, production of basic molecules, and access to the regional market.
  • APAC includes a persistent expedition in making some of the tallest, largest, and biggest structures. The paints and coatings industry in the country is estimated to register steady growth in the coming years.

What are the Latest Developments in the Paints and Coatings Additives Market? 

  • In March 2023, BASF announced expanding its polymer dispersions production capacity by adding a second production line at its site in the Daya Bay Petrochemical Industrial Park in Guangdong, China.
  • In January 2022, The Bodo Möller Chemie Group and Evonik Industries stated a cooperation agreement for special binders and additives, explicitly for the paint and varnish industry and textile, leather finishing, and printing inks in East Africa.

Mordor Intelligence has Segmented the Paints and Coatings Additives Market Based on Type, Application, and Geography:

  • By Type (Market Size and Forecast based on Value (USD billion), 2018-2028) 
    • Biocides
    • Dispersants and Wetting Agents
    • Defoamers and Deaerators
    • Rheology Modifiers
    • Surface Modifiers
    • Stabilizers
    • Flow and Leveling Additives
    • Other Types
  • By Application (Market Size and Forecast based on Value (USD billion), 2018-2028)
    • Architectural Paints and Coatings
    • Wood Paints and Coatings
    • Transportation Paints and Coatings
    • Protective Paints and Coatings
    • Other Applications
  • By Geography (Market Size and Forecast based on Value (USD billion), 2018-2028)
    • North America
        • United States  
        • Canada  
        • Mexico
    • Europe  
        • United Kingdom 
        • Germany  
        • France  
        • Italy
        • Rest of Europe 
    • Asia-Pacific  
        • China  
        • India  
        • Japan
        • South Korea
        • Rest of Asia-Pacific  
    • Middle East & Africa
        • Saudi Arabia
        • South Africa
        • Rest of Middle East & Africa
    • South America
        • Brazil
        • Argentina
        • Rest of South America

In a nutshell, the Mordor Intelligence market research report is a must-read for start-ups, industry players, investors, researchers, consultants, business strategists, and all those who are looking to understand this industry. Get a glance at the Paints and Coatings Additives Market Report (2023-2028).

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Mordor Intelligence is a market intelligence and advisory firm. At Mordor Intelligence, we believe in predicting butterfly effects that have the potential to change or significantly impact market dynamics.

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Paints and Coatings Additives Market - Mordor Intelligence

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