Global additive industry is swiftly moving ahead with advanced technologies, which is a great news for overall investments and expanse of the existing as well as potential businesses in the market. One of the popular products available in the additive market, coating additives is special products that help maintaining the quality and performance of the paints and coatings. These products modify different properties of paints like foaming, viscosity, impact resistance and gloss. Global coating additives market is expected to maintain steady growth for the next four to five years. The strongest reason for this steady demand is attributed to growing demand from different industries and advancements are coating technologies. As a result of all these factors, the industry will continue making steady rise across the world.
Market Drivers for Coating Additives
Coating is classified into two types, namely, powder and paint. Both these types have varied applications that require strength and durability. When additives are added to these coatings, they provided the all important effects to the substrate, which includes durability and better quality. This quality of providing strength to paints is the strongest driver for the demand of these products. Increasing applications and growing demand for these products in emerging markets are the strongest drivers for the coating additives market. Rising markets for construction, building and infrastructure have great influence on the global demand for additives. Apart from the traditional markets, coating additives are also useful for automobile, wood and furniture industries. Technological advancements in the industry have huge impact on the trends and growth in overall industry.
Segmentation and Forecasting
The global coating additives market is widely segmented into different products, applications, types, formulations and geographic demand. Following are the details:
Types: Urethane, acrylic, metallic and fluoropolymers
Applications: Architecture, automotive, wood, furniture and industrial
Formulations: Water-borne, powder coating and solvent-borne
Functions: Biocidic, rheology modification, wetting, dispersing, impact modification and anti-foaming
Geography: Asia Pacific, Europe, North America, Latin America and rest of the world
Detailed analysis of all these segments provide details about the market trends, challenges, competition, constrains and future business opportunities in the industry. Facts collected from this analysis play vital role in creating market research reports for the industry. According to the similar study for coating additives market, experts suggest the industry to maintain a steady CAGR of over 6% during the research forecasting period of over 5 years. From 2013 to 2018, the market is estimated to continue the current compound annual growth rate and become worth $8.7 billion by 2018. In 2013, the industry was worth $6 billion. Rising demand in Asia Pacific region is expected to gain the region top position in terms of geographic growth of the industry. North America and Europe are expected to follow the APAC region in terms of demand, supply, production, applications and revenue.