The global paint additive market is poised for significant growth, with an anticipated compound annual growth rate (CAGR) of approximately 4.6% during the forecast period. In 2024, the market is expected to reach a valuation of USD 10,096.6 million and is projected to expand to around USD 15,840.4 million by 2034. This growth trajectory is driven by increasing demand for enhanced paint performance, advancements in coating technologies, and the rising need for durable, high-quality finishes across various industries, including automotive, construction, and industrial applications. The ongoing focus on innovation and sustainability within the paint and coatings sector is further expected to propel the market forward over the next decade.
Demand for paint additives is projected to rise in the assessment period due to surging emphasis on environmental friendliness and sustainability across home improvement and construction sectors. Paint additives with numerous beneficial properties like low volatile organic compound (VOC) emissions, weather resistance, and high durability are gaining momentum. With the implementation of stringent norms across emerging economies, key players are set to shift toward new additives to meet sustainability goals.
Ongoing innovations in technology are projected to lead to the development of unique paint additive formulations. Improved UV protection, fire resistance, and anti-microbial properties are set to be included in the new formulations. The launch of new additives is set to create new opportunities for usage across the manufacturing, aerospace, and automotive Refinish coating industries.
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The evolving preferences of modern consumers are further compelling key players to develop novel paints to provide aesthetic appeal. Rising demand for low-cost, mold-resistant, and easy-to-clean paints is anticipated to drive the market. Additives are set to provide anti-settling, anti-blocking, and superior adhesion properties.
The rapid growth of the building and construction industry along with the increasing usage of paints in this sector will continue to propel the sales of paint additives over the next ten years. Similarly, growing applications in the automotive, equipment manufacturing, consumer electronics, and aerospace sectors are projected to bolster the growth of the paint additives market in the coming years.
Key Takeaways from the Report
- The global market is estimated to reach USD 10096.6 million in 2024.
- India is projected to witness a CAGR of 6.9% in the forecast period.
- Germany is anticipated to showcase a 2.2% CAGR through 2034.
- By product type, the acrylic segment is likely to account for a share of 35.4% in 2024.
- Based on end-use, the industrial segment is set to hold a share of 32.9% in 2024.
“The booming construction industry worldwide is set to augment the need for high-performance paints to help resist harsh climatic conditions. The surging demand for paints providing long-term protection is another key factor fostering sales globally,” – Says an Analyst at Future Market Insights, Inc.
Competition Outlook
The paint additive market contains several large to small-sized companies operating across the globe. With the rising demand for highly durable paints, these companies are focusing on research and development activities to come up with novel formulations.
A few small-scale companies are collaborating with renowned players to share their expertise and co-develop novel products. These companies are striving to keep up with sustainability norms set up by government bodies worldwide.
For instance,
- In March 2024, Syensqo, headquartered in Belgium, launched a unique solution under the company’s existing Rhodoline specialty coating additives line. Rhodoline HBR has an early hot block resistance feature and can help meet strict government norms associated with fluorosurfactants.
- In December 2023, PETRONAS, based in Kuala Lumpur, introduced ProShield+, a new paint additive for steel structures. The additive can help resist harsh weather conditions and protect structures from corrosion.
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Leading Paint Additive Market Players
- AkzoNobel N.V.
- Arkema SA
- Asahi Glass Co. Ltd.
- Ashland Inc.
- BASF SE
- BYK-Chemie
- Dow Chemical
- Evonik Industries
- Arch Chemicals
- Lonza
- Daikin Industries
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Future Market Insights (FMI), in its new offering, provides an unbiased analysis of the global paint additive market presenting historical demand data (2019 to 2023) and forecast statistics for the period from 2024 to 2034.
The study incorporates compelling insights on the paint additive market based on product type (acrylics, fluoropolymers, urethanes, and metallic additives), formulation (solvent-based and water-based), application (rheology modification, biocides impact modification, wetting and dispersion, and anti-foaming), end-use (industrial, automotive, architectural, wood and furniture), and region.
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of ~400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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