Wed, 30 Nov 2022

The global market for paint additives is highly fragmented, with presence of several regional and international players. Revenues from the global paint additives market will reach nearly US$ 9,489.0 Mn by 2022-end. A latest research by Future Market Insights (FMI) projects the global market for paint additives to exhibit a moderate 4.6% CAGR during the forecast period 2022 to 2032. A number of domestic vendors have been observed to enter the market, influenced by rapid growth in urbanisation and industrialization in emerging economies. These vendors are competing on the basis of innovation, product quality, price, operation cost, and economies of scale for strengthening their position in the market.

Attributes

Key Statistics

Global Paint Additives Market Estimated Size (2022E)

US $ 9,489.0 Mn

Projected Market Valuation (2032F)

US $ 14,877.8 Mn

Value-based CAGR (2022-2032)

4.6%

Collective Value Share: Top 3 Countries Worldwide (2022E)

38.7%

Vendors of Paint additives are specializing in Product Differentiation & Innovation to keep their marketplace Presence

Massive investments are being made by means of vendors of insulating paint additives in studies & development sports, with an goal of lowering the cost related to manufacturing and operation. Providers also are concentrating on product extensions and new technology, to develop extraordinarily efficient merchandise with more advantageous residences. Innovation and product differentiation are generally adopted techniques by means of companies within the market to preserve their presence within the marketplace. Those elements may impact enlargement of paint additives market across the globe. Similarly, fast financial expansion in growing nations has led in the direction of a upward thrust in business sports and architectural production. This has similarly fuelled adoption of paints, thereby developing huge call for for paint components.

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Although environmental policies have saved enlargement of the paint industry in test, manufacturers of paints are ad infinitum stressing on reformulating their products, which in turn is driving call for for novel components. Surging demand for multifunctional components is every other important issue favouring boom of the global paint components market. Utilised in paint formulations, multifunctional components provide performance degree just like that of person additives. Multifunctional components lessen the fee, and simplify the formulating method, and assist aqueous answers to perform nicely and remain compliant with safety requirements.

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.

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.

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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.

Drag Reducing Agent Market by Category

By Product Type:

  • Polymer
  • Surfactant
  • Suspension/ Suspended Solids

By Application:

  • Crude Oil
  • Multi-phase Liquid
  • Refined Products
  • Heavy, Asphaltic Crude
  • Water Transportation

By End Use:

  • Oil & Gas
  • Chemicals & Petrochemicals
  • Power & Energy
  • Agriculture
  • Others

By Region:

  • North America
  • Latin America
  • Europe
  • South Asia
  • East Asia
  • Oceania
  • Middle East & Africa (MEA)

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Table of Content

1. Executive Summary

1.1. Global Market Outlook

1.2. Demand Side Trends

1.3. Supply Side Trends

1.4. Analysis and Recommendations

2. Market Overview

2.1. Market Taxonomy

2.2. Market Definition

3. Key Market Trends

4. Key Success Factors

to be continued...!

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The post Thriving Demand for Paint Additives Market in US is due to Rapid Growth of the Paints & Coatings Industry appeared first on Future Market Insights.

Original Source of the original story >> Thriving Demand for Paint Additives Market in US is due to Rapid Growth of the Paints & Coatings Industry

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