The global paint additives market is projected to reach a value of US$ 14,877.8 Mn by 2032, with overall demand growing at a moderate CAGR of 4.6% from the forecast period of 2022 to 2032. Predicted to reach an estimated US$ 9,489.0 Mn in 2022, the paint additives market is spurred by escalating usage in diverse industry verticals such as automotive, architectural, wood & furniture, and others.
Building and construction industry is one of the primary growth drivers for the paint additives market over the forecast period. Paint additives help enhance the performance, efficacy, and usefulness of paint while addressing flaws, and increasing functionality.
These additives remove deficiencies in the coating, boost abrasion resistance, stem the growth of microbes, and bestow distinctive properties to the paint, which are not easily attained. The escalating demand for paints and coatings is mainly because of the swift growth witnessed in the automotive and construction sectors.
Further, the growing need to improve the efficiency and functionality of paints is expected to continue to play a vital role in the rising demand for paint additives throughout the upcoming decade. One of the primary end-user and growth drivers of the paint additives market is the building & construction sector.
A wide range of paints and coatings are used to beautify and shield the details on the building surface. The paint additives market is growing at a rapid rate due to the extensive usage of paint additives in commercial and residential construction.
These additives provide water resistance, corrosion resistance, abrasion resistance, and thermal resistance. The growth of infrastructure activities like highways and dams, particularly in developing countries, are further propelling the growth of the target market.
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AkzoNobel N.V., Arkema SA, Asahi Glass Co. Ltd., Ashland Inc., BASF SE, BYK-Chemie, Dow Chemical, Evonik Industries, Arch Chemicals, Lonza, and Daikin Industries among others are some of the major players in the paint additives market profiled in the full version of the report.
Leading market players are focusing on expanding their manufacturing capacities to cater to the growing demand. Mergers, acquisitions, collaboration, product releases, and facility expansions are some of the other strategies employed by these organizations.
More Insights into Paint Additives Market Report
In its latest report, FMI offers an unbiased analysis of the global paint additives market, providing historical data from 2016 to 2021 and forecast statistics for 2022 to 2032.
To understand the global market potential, growth, and scope, the market is segmented on the basis of product type (acrylics, fluoropolymers, urethanes, metallic additives, others (epoxy, polyalkyds, and amines), formulation (solvent based, water based), application (rheology modification, biocides impact modification, wetting & dispersion, anti-foaming, others (flexibility, curing, slip & rub)), end use (industrial, automotive, architectural, wood & furniture, others), and region.
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