Paint Additives Market To Hit Value ,168.98 Million By 2030 |Grand View Research, Inc.

Posted by Mrudula Anil Karmarkar on August 29th, 2023

San Francisco, 29 August 2023: The ReportPaint Additives MarketSize, Share & Trends Analysis Report By Product (Rheology Modifiers, Biocides), By Application (Architectural, Automotive), By Region, And Segment Forecasts, 2023 - 2030

The global paint additives market size is expected to reach USD 12,168.98 million by 2030, as per the new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 3.8%. The industry is driven by growing demand from industrial and architectural segments. Paints and coatings are used in a wide range of applications in industries such as oil and gas, marine, aerospace, cookware and household, furniture, machinery, and automotive.

Currently, an increasing number of industry participants are moving toward manufacturing “green paints” - environment-friendly paints with zero volatile organic compound. This trend is primarily owing to a shift in consumer preferences, influenced by stringent regulatory policies. These aspects are expected to positively influence the market over the forecast period.

Paints and coatings product range is very versatile, including protective, decorative, industrial, architectural, specialty and high temperature coatings and paints. Each type of coating and paint has their own function and the advantages depending on the type of additives used and the required function in various end-use industries, which in turn is expected to boost demand for these products from various industries and regions.

Increase in construction spending in emerging economies is expected to boost demand for various types of paints and coatings in the buildings and construction segment, consequently driving demand for paint additives. Surge in demand for paints and coatings, particularly powder-based coatings, is expected to benefit the overall product sector.

The growth of paint and coating market is highly dependent on the region as its applications depend on the pace at which an economy is growing. The mature markets for paint and coating are U.S., Japan and Europe. The fastest growing market for this segment is in Asia-pacific region. Production in Asian region accounts for approximately 55.0% of the total global production. This is turn expected to positively impact the paint additive industry in the region.

The global market is regulated by different regulatory agencies with policies and norms from environmental to economic policies. Key regulatory policymakers that command dynamics of industry include council of European Union, Occupational Health and Safety Associations (OSHA), and other regional regulatory agencies.

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Paint Additives Market Report Highlights

• The architectural application segment is anticipated to register the highest CAGR of 4.5% from 2023 to 2030, on account of growing construction activities in developing countries, particularly in Asia Pacific and Central and South America
• The Rheology modifiers is the fastest growing product segment by revenue with a CAGR of 4.4% from 2023 to 2030. The growth is mainly triggered by its high usage to reduce spattering and dripping of paints during brush application
• The industry in Asia Pacific is projected to account the fastest growth by revenue with a CAGR of 4.1% from 2023 to 2030, owing to thriving construction, automotive, and marine industries

The demand for paint additives is attributed to its rich properties such as wetting agents, foam control, and dispersion ability that enhance the surface effectiveness and viscosity of substrate of buildings, automobiles, and others. Paint additives are essential element to increase the consistency and long lasting effects of the paints. The demand for paint and coating is growing at a steady rate owing to increase in consumption from architectural applications and end-use industries such as oil & gas, aerospace, marine, steel industry etc. This in turn is expected to have a positive impact on the market over the forecast period.

Aerospace sector is a big market for paint and coatings. The four major worldwide commercials for Original Equipment Market (OEM) are: Bombardier, Embraer, Boeing, and Airbus. The aerospace coatings sector is huge sector for meeting consumer demand where companies like AkzoNobel N.V. have split the market into further sub-sectors. This is expected to fuel paint additive demand in this sector over the next few years.

Paint Additives Market Report Scope

List of Key Players in the Paint Additives Market

• AkzoNobel N.V.
• Arkema
• BASF SE
• The Dow Chemical Company
• Evonik Industries
• Ashland Global Holdings Inc.
• ANGUS Chemical Company
• Buckman Laboratories International, Inc.
• Cabot Corporation