Coating Additives Market

The Global Coating Additives Market had a value of $9.0 billion in 2022 and is estimated to reach $15.0 billion by 2030, with a compounded annual growth rate (CAGR) of 5.5% from 2023 to 2030.

Due to lockdown measures, the supply chain disruptions had a significant impact on the manufacturing and automotive industry, temporarily reducing the demand for coating additives in 2022.

Technologically advanced coatings consist of complex formulations that include thickeners, emulsifiers, dispersants, pigments, defoamers, leveling agents, photo-stabilizers, curing catalysts, and other additives. These additives enhance the properties of the resin. Anti-foaming is employed to minimize or prevent foam formation on paint films or coatings. Wetting and dispersion techniques utilize deflocculating effects to stabilize films. Rheology modification is related to altering the structure or flow of materials under external stress, improving the thickness and viscosity of coated surfaces. Biocides protect paint films from microbiological degradation, such as fungal and algal growth, which can occur in humid environments or due to contamination. Impact modification primarily reduces surface deformation in sheets, packaging films, and other materials. Drying, surface modification, leveling, anti-settling, anti-sagging, and other functions are also carried out by these additives.

Furthermore, the market is driven by an increasing demand for coating additives from various end-user industries globally. For example, solventless coatings are extensively used as premium coatings in automotive, architectural, and industrial sectors.

The segmentation of the global coating additives market is based on function, type, formulation, end-use industry, and region. In terms of function, the market is categorized into anti-foaming, wetting & dispersion, and rheology modification. The types of coating additives are divided into acrylic, fluoropolymers, urethanes, and others. The market is further segmented based on formulation, including water-borne coatings, solvent-borne coatings, solventless coatings, powder-based coatings, and radiation curable coatings.

The end-use industry segment encompasses automotive, architectural, industrial, wood & furniture, and others. Geographically, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Prominent players operating in the global coating additives market are Arkema, BASF, BYK Additives & Instruments, Clariant, Dow Chemical Co., Eastman Chemical Co., Evonik, Lanxess, Momentive Performance Materials Inc., and Solvay.

Market Segmentation

By Function

• Anti-foaming
• Wetting & Dispersion
• Rheology modification
• Biocides
• Impact Modification
• Others

By Type

• Acrylic
• Fluoropolymers
• Urethanes
• Metallic Additives
• Others

By Formulation

• Water-borne Coating
• Solvent-borne Coating
• Wax
• Lubricants
• Others
• Solventless Coating
• Powder Coating
• Radiation Curable Coating

By End-use industry

• Architectural
• Industrial
• Automotive
• Wood & Furniture
• Others

Coating Additives Market, by Function

In 2022, the rheology modification segment emerged as the dominant sector in the global coating additives market and is projected to maintain its leading position throughout the forecast period. This can be attributed to the growing adoption of rheology additives, which contribute to film thickness, increased viscosity of finished products, and improved elastic properties of coatings.

Regarding the type of coating additives, the acrylic segment held the largest market share in terms of revenue in 2022. The increased demand for acrylic materials as coating additives has been a key driver for market growth.

In the formulation segment, water-borne coatings dominated the global coating additives market in 2022 and are expected to continue their dominance in the forecast period. The preference for water-borne technology is driven by its advantages, including excellent durability, reduced odors, quick drying, less frequent repainting requirements, flexible finish, stable color, and availability of low volatile organic compounds (VOCs).

Among the end-use industries, the architectural sector was the dominant segment in terms of revenue in 2022. The economic development in emerging countries of Asia-Pacific and LAMEA has contributed to infrastructural growth, leading to an increased demand for coating additives in the architectural industry.

Geographically, the Asia-Pacific region held the largest share in the coating additives market in 2022 and is expected to exhibit the highest compound annual growth rate (CAGR) in terms of both volume and value. Factors such as a stable economy, rising disposable income, and improved standards of living in countries like China, Japan, Singapore, Malaysia, and Vietnam are driving the growth of the coating additives market in the Asia-Pacific region.

Key Benefits For Stakeholders

• The report offers a comprehensive analysis of the global coating additives market, including an examination of current trends and future projections. It highlights the key drivers, opportunities, and restraints in the market, providing an impact analysis throughout the forecast period.
• To aid in strategy development, Porter's five forces analysis is utilized to assess the potential of buyers and suppliers, as well as the competitive landscape of the global coating additives market.
• The report provides a thorough market analysis, encompassing the factors that drive and impede the growth of the global coating additives market.

Impact of COVID-19 on the Global Coating Additives Market:

• The COVID-19 pandemic has affected nearly 213 countries worldwide, with the World Health Organization declaring it a public health emergency on March 11, 2022.
• Major economies such as Germany, France, Italy, Spain, the UK, and Norway have been significantly impacted by the COVID-19 crisis.
• Coating additives are primarily used in the automotive, industrial, and architectural sectors. The pandemic has disrupted the economy, particularly in industries like transportation and the supply chain. The lockdown measures have led to a halt in development and subsequently hindered the demand for coating additives.
• The scarcity of resources in various parts of the world due to the COVID-19 pandemic has had a negative impact on the manufacturing and industrial sectors. Leading players in the industry are concerned about market prospects and are reevaluating their strategies to address the challenges.
• Companies are adopting various techniques to increase production volume and striving to develop innovative, cost-effective solutions that meet customer requirements and support the overall breakthrough needed for sustainable product penetration.