These industries, which include construction, bedding & furniture, construction, and automotive paints, have witnessed strong growth in the past few years.
(PRWEB) May 27, 2014
The Acrylic Resin Coating Additives market is mainly driven by the increase in demand from its end users. These industries, which include construction, bedding & furniture, construction, and automotive paints, have witnessed strong growth in the past few years, which is driving the manufacturers to increase the production of solvent borne coating additives. It is expected that the future prospects of the industry would be dominated by additives which reduce the VOC and APEO content in the formulation. To some extent, restraints faced by the paint and coating industries hinder the growth of the solvent borne coating additives market.
The Asia-Pacific acrylic resin coating additives market is expected to reach $755.88 million by 2018, growing at a CAGR of 7.9% from 2013 to 2018. In terms of global coating additives consumption, APAC is the largest market in the world—followed by North America and Europe—and is also one of the most promising markets for acrylic resin coating additives, both in terms of production as well as consumption. The availability of cheap raw material and labor, coupled with upcoming domestic demand, enables this market to be the most attractive one for industry participants.
The European acrylic resin coating additives market is expected to reach $265.7 million by 2018, growing at a CAGR of 2.0% from 2013 to 2018. Europe is the third-largest consumer of coating additives globally. In 2013, Europe accounted for 19.3% of the global acrylic resin coating additives consumption. Germany, the U.K., and France are major consumers of acrylic resin coating additives. Architectural and industrial sectors are the main reason for the growth of this market.
The North American acrylic resin coating additives market is expected to reach $448 million by 2018, growing at a CAGR of 6.2% from 2013 to 2018. North America is the second-largest consumer of acrylic resin coating additives after Asia-Pacific. This market is driven by strength in segments, including building and construction, automotive, infrastructure spending, and energy. Manufacturers are into developing coating additives which reduce the requirement of solvents or any VOC in the formulation. The U.S. is a major consumer of acrylic resin coating additives, and contributed to 78.4% consumption of the total North America acrylic resin coating additives market in 2013.
The South American acrylic resin coating additives market is expected to reach $138.8 million by 2018, growing at a CAGR of 6.2% from 2013 to 2018. South America contributes to a small percentage in terms of global coating additives consumption. The economic downturn in South America has affected the region’s coating additive market leading to slow volume growth. The reduction in the output of automotive and construction industries in many South and Central American countries has resulted in decreased demand for coating additives in both industrial and architectural applications.
The Middle East and African acrylic resin coating additives market is expected to reach $80.0 million by 2018, growing at a CAGR of 9.0% from 2013 to 2018. The construction industry in Saudi Arabia is shrinking due to the ongoing economic crisis. This, in turn, is expected to reduce the demand for coating additives in the country. Added to that, the volume growth in other Middle East and African countries is experiencing a reduction in demand for coating additives due to the slowdown in their economies.
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