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|Paint Additives Market to Register Phenomenal Growth Due to Inclination Towards Green Paints
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|Paint Additives Market, Paint Additives Market Size, Paint Additives Market Growth, Paint Additives Market Analysis, Paint Additives Market 2023
Paint Additives Market Analysis:
The global Paint Additives Market is
predicted to grow at a 6.75% CAGR over the forecast period (2023-2030), states
the latest Market Research Future (MRFR) report. Paint additives, simply put,
are special ingredients that are utilized to enhance the quality and functional
performance of paints. It aids to modify the various properties of paints to
enhance the viscosity, efficacy of paints, foam reduction, gloss control,
anti-chipping, flow control, and impact resistance.
Various factors are propelling the paint additives market
growth. Some of these factors according to the Market Research Future report,
include growing demand for paint additives from architectural and industrial
segments, rising inclination towards green paints, rising economic development
especially in emerging countries that have led to the rising industrial and
architectural construction activities. Moreover, paints and coatings are used
in an array of applications in different industries including automotive,
machinery, furniture, cookware and household, aerospace, marine, oil and gas,
and others which is also pushing market growth. Additional factors pushing
market growth include an increase in research and development activities and a
rise in construction spending, especially in emerging economies.
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On the contrary, strict environmental regulations about the VOC
content may hamper the paint additives market growth over the forecast period.
The MRFR report offers a wide segmental analysis of the
paint additives market on the basis of application and type.
Based on product type, the paint additives market is
segmented into wetting and dispersion agents, anti-foamers, biocides, rheology
modifiers, and others. Of these, the rheology modifiers segment will have the
largest share in the market over the forecast period. This is owing to its
extensive use in the building and construction, and automobile sectors.
Rheology modifiers are used in inks, coatings, and paints to improve the
characteristics and properties of the fluids. These additives help in reducing
spattering at the time of application, thus are used in various industries.
Based on application, the antimicrobial paint additive
market is segmented into automotive, wood and furniture, industrial,
architectural, and others. Of these, the architectural segment will dominate
the market over the forecast period. This is owing to its growing need in
commercial and residential buildings. Architectural coatings are utilized in
deck finishes, walls, and roofs, among others.
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Leading players profiled in the paint additives market report
include Daikin Industries, Ltd., Lonza Group AG, Arch Chemicals, Evonik
Industries AG, Dow Chemical, Asahi Glass Co., Ltd., BYK-Chemie GmbH, BASF SE,
Ashland Global Holdings, Inc., Arkema SA, and Akzo Nobel NV, among others. Key
players are adopting strategies such as product innovations, mergers,
expansions, and partnerships to create a niche in the market.
Based on the region, the paint additives market report
covers the latest trends and growth opportunities across Europe, the Asia
Pacific, North America, Latin America, and the Middle East and Africa. Of
these, the Asia Pacific will reign the market over the forecast period. This is
owing to the growing automobile and construction industry in the region.
Moreover, expanding GDP, and the growing population that has increased the
government expenditure on construction activities is also boosting the market
The paint additives market in North America is predicted to
have the second-largest share in the market over the forecast period. This is
on account of the presence of key coating and paint manufacturers in this
region, increased expenditure on construction activities, and the growing
automobile industry. Canada is the key contributor in this region.
The paint additives market in Europe is predicted to have a
healthy growth over the forecast period. This is owing to expanding paint and
coatings industry, increasing construction spending, especially in Germany, and
the presence of key automobile manufacturing industries. On the contrary, the
region has stringent EU regulations that may hamper the growth of the market to
The paint additives market in Latin America is predicted to
have a notable growth over the forecast period owing to growing
The paint additives market in the Middle East and Africa is
predicted to have moderate growth over the forecast period due to growing
construction and automotive industries.
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