The global market for paint additives is exceedingly fragmented, with presence of several regional and international players. Some of domestic providers have been found to enter the market, influenced by rapid growth in urbanisation and industrialization in rising economies. Those companies are competing on the basis of innovation, product high-quality, price, operation value, and economies of scale for strengthening their position inside the marketplace. A state-of-the-art studies with the aid of future market Insights (FMI) initiatives the worldwide market for paint additives to show off a mild 4.8% CAGR all through the forecast duration 2017 to 2022. Revenues from the worldwide paint components marketplace will reach nearly US$ nine,000 Mn via 2022-stop.
Providers of Paint components are that specialize in Product Differentiation & Innovation to hold their market Presence
Big investments are being made via companies of insulating paint components in research & improvement activities, with an intention of reducing the value associated with manufacturing and operation. Vendors also are concentrating on product extensions and new technologies, to develop highly green merchandise with more advantageous properties. Innovation and product differentiation are by and large followed strategies with the aid of companies within the market to keep their presence in the marketplace. These factors would possibly have an impact on enlargement of paint components marketplace throughout the globe. Further, fast economic expansion in growing countries has led toward a upward push in business sports and architectural production. This has further fuelled adoption of paints, thereby growing large call for for paint additives.
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Even though environmental policies have kept growth of the paint enterprise in take a look at, manufacturers of paints are endlessly stressing on reformulating their merchandise, which in turn is using demand for novel additives. Surging demand for multifunctional components is any other most important thing favouring increase of the global paint components marketplace. Utilised in paint formulations, multifunctional components offer performance degree just like that of individual components. Multifunctional components reduce the price, and simplify the formulating system, and assist aqueous answers to perform nicely and remain compliant with protection standards.
Architectural Sector to Remain Dominant End-users of Paint Additives
Architectural sector is the major end-user of paint additives and will continue to dominate the market, in terms of revenues. Rising construction of residential and commercial buildings, especially in emerging regions, will drive demand for paint additives, as they improve corrosion resistance, abrasion resistance, thermal stability, and water resistance. Growing urbanization, improving living standards of population worldwide, and growth in construction activities are factors fuelling adoption of paint additive in the architectural end-use industry.
Sales of paint additives will witness the fastest expansion in anti-foaming, and biocides impact modification applications. In addition, sales of paint additives for application in wetting & dispersion, and rheology modification are expected to register a parallel expansion through 2022. Wetting & dispersion is expected to remain the least lucrative application of paint additives over the forecast period.
By formulation type, although solvent-based paint additives are poised to remain preferred in the market, demand for water-based paint additives will gain significant traction among end-users in the near future. Demand for solvent-based paint additives is expected to witness a fall, owing to rising environmental regulations, which in turn is driving adoption of water-based paint additives. However, revenue share of solvent-based paint additives in the market will remain relatively larger during 2017 to 2022.
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Acrylics to Remain Sought-after among Products in the Market
Acrylics are expected to remain sought-after among products in the global paint additives market, followed by fluoropolymers. Sales of fluoropolymers and acrylics are expected to exhibit similar CAGRs in the market through 2022. In addition, sales of acrylics is expected to account for nearly US$ 2,500 Mn revenues by 2022-end.
Europe is expected to remain the largest market for paint additives, in terms of revenues. The paint additives market in Asia-Pacific excluding Japan (APEJ) is expected to create an absolute $ opportunity of nearly US$ 400 Mn between 2017 and 2022. The market in Japan is projected to register a relative faster expansion than all remaining regional segments included in the report.
FMI’s report has listed key leading companies manufacturing paint additives, which 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.
Market Taxonomy
The report considers key market segments that are portrayed with a taxonomy table. The global paint additives market is segmented on the basis of product, end-user, application, formulation type, and region. The report offers a comprehensive analysis on each of these market segments.
Region
- North America
- Latin America
- Europe
- Japan
- APEJ
- MEA
Product Type
- Acrylics
- Fluoropolymers
- Urethanes
- Metallic Additive
- Others (epoxy, polyalkyds, and amines)
Formulation Type
- Solvent Based
- Water Based
Application
- Rheology Modification
- Biocides Impact Modification
- Wetting & Dispersion
- Anti-Foaming
- Others (Flexibility, curing, slip & rub, and so on)
Industrial
- End Use Industry
- Automotive
- Architectural
- Wood & Furniture
- Others
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About FMI
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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