Key Players AkzoNobel (The Netherlands), Evonik (Germany), Eastman Chemical (U.S.), BYK-Chemie (Germany), BASF (Germany), Dow Chemical (U.S.)
(PRWEB) August 17, 2014
The report "Coating Additives Market by Function (Rheology Modifiers, Dispersing, Wetting Agent, Impact Modifier, Anti-Foaming), Application (Automotive, Architecture, Industrial), Formulation (Water, Solvent, Powder Based), & Types - Global Trends & Forecast to 2018", defines and segments the Coating Additives Market with analysis and forecasting of revenue and volume. This market would grow from an estimated $6 Billion in 2013 to $8.7 Billion by 2018, with a CAGR of 6.4% from 2013.
Browse 136 market data tables and 27 figures spread through 254 pages and in-depth TOC on "Coating Additives Market".
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The major function of a coating additive is to address problems hindering the performance of coatings; as the problem would include foaming, wetting & dispersing, inconsistent rheology, biocides, etc. Thus, the industry players have begun focusing on developing and launching additives which would facilitate the formulators to achieve the right proportion along with high performance. With the tightening environmental regulations, formulators are forced to reduce the VOC content in their products. This has caused a shift towards the use of water-borne or powder coatings, wherever it is possible. It has, thus, become important for them to find a right balance between the product performance and content of their product. Hence, careful selection of the right additive plays an important role in the performance of coatings in its end-use application.
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According to estimates, Asia-Pacific did lead the market for coating additives with 40.8% share at global level in 2012, followed by North America (26.9%), Europe (20.2%), South America (8.1%) and Rest of the World (4.1%). Looking at additives type, acrylic-based coating additives leads demand with highest share, followed by urethane, metallic, and fluoropolymer-based additives.
The global coating additives market is matured and diversified with most companies offering different types of coating additives, which offer a wide range of applicability in different end-user industries. The acrylic and urethane-based coating additives are estimated to have a major share in the coating market. The companies engaged in the production of these additives are BYK-Chemie, BASF, Arkema, Dow Chemical, AkzoNobel, Elementis, and Evonik Industries. The coating additives are used in very small quantities in the formulation of paints and powder coatings, because they are designed to target a specific function or property of the formulation. However, the current trend is shifting towards multifunctional coating additives, which would further decrease the additives’ content in the formulation.
The major global companies operating in coating additives market are U.S.-based Ashland, Dow Chemical, Cytec, Cabot, Eastman, and Lubrizol, The Netherland-headquartered AkzoNobel, U.K.-based Elementis PLC, and BYK-Chemie, BASF, and Evonik from Germany. The companies are consistently focusing on launching of new and improved coating additives which are efficient in their intended functions and also help the formulators to meet the environmental regulatory standards. Hence, companies such as BASF SE (Germany) have recently launched a dispersing agent, which is APEO-free and has been especially designed to provide superior color acceptance to the substrate. Evonik Industries has also responded to the growing demand for multifunctional additives by launching an additive which provides the function of both wetting and dispersing.
The growth of the coating additives market has been studied through in-depth analysis of major factors that are driving the market such as, growing demand for multifunctional additives with opportunities in the development of multifunctional coating additives. However, the difficulties faced by the formulators and environmental regulations are proving to be the major restraining factors for the market.
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