San Francisco, 29 October
2018: According to a report published by Grand View Research,
Inc.; the paintadditives market is likely to reach a valuation of around USD 10.9
billion by 2025.
Applications in industries
including marine, aerospace, oil and gas, furniture, machinery, and automotive,
and cookware and household can propel the market during the forecast period
(2014 to 2025). In addition, increasing use of paints and coatings in automotive
and construction due to supportive solvent properties is likely to support the
market growth in the coming years.
Growing demand for bio-based
products and sustainable solutions like changes in regulations are likely to
boost the use of these products in many sectors. In addition, development of
low and no-VOC coatings is boosting the market growth. Manufacturers are
increasingly inclined toward making eco-friendly paint with no volatile organic
compound due to increasing consumers preference for green paints due to
implementation of strict regulatory policies. This is expected to create more
opportunities in the market. In addition, supportive changes in government
rules and additive standards, particularly concerning homecare and personal
care products can have positive impact on the market.
Paint additives market can be
segmented on the basis of product, application, and region. Based on product,
the market can be bifurcated into biocides, rheology modifiers, wetting and
dispersion agents, anti-foamers, and others.
Access Research Report of Paint Additives Market@ www.grandviewresearch.com/industry-analysis/paint-additives-market
In 2016, rheology modifiers
segment estimated for the largest revenue of 28%. Rheological additives are
vital constituents used in inks, coatings, and paints to regulate and adjust
the properties and characteristics of liquid products. These modifiers decrease
dripping and splattering of liquid products during application.
As per application, the market
can be split into architectural, wood and furniture, industrial, automotive,
and others. In 2016, the architectural application segment accounted for the
largest market share of 38.1% of total revenue. It is expected to gain highest
CAGR of 7.1% during 2017 to 2025 due to rise in construction activities across
the world, especially in emerging countries from Central and South America and Asia
Pacific. Architectural coatings are used in houses and buildings as wall
paints, roof coatings, and deck finishers. Additionally, increasing demand for
green coatings in interiors is likely to drive the product demand during the
forecast period. Increasing construction of new homes and renovation projects
in the U.S and other countries is likely to propel the demand for these
coatings. Increasing demand for premium, high-quality, and specialty coatings
for interior and exterior projects can significantly increase the demand for
these coatings over the forecast period.
Browse more reports of this category by
Grand View Research at: www.grandviewresearch.com/industry/paints-coatings-and-printing-inks
Geographically, the market can
be divided into North America, Europe, Asia Pacific, Central & South
America, and Middle East & Africa.
Europe and the U.S are some of
the mature markets. In 2016, Asia Pacific dominated the market and expected to
continue its dominance during the forecast period. The region is expected to
grow with a CAGR of 6.9% during 2017 to 2025 on account of flourishing marine,
construction, and automotive industries. Growing sales of coupled with rising
expenditure for construction in emerging countries in this region is expected
to positively drive the market over the forecast period.
Increasing demand for these
products in commercial and residential construction sector and expansion of
automotive sector in emerging economies including Malaysia, China, and India
are likely to boost the market over the forecast period. Increasing disposable
income along with improving standards of living has resulted into high purchase
of vehicles in this region. This is expected to increase demand for automotive
coatings during the forecast period.
Prominent companies operating
in the market include Ashland Global Holdings Inc.; AkzoNobel N.V.; BASF SE;
Arkema S.A.; and Evonik Industries. Manufacturers have increased their
production capacities in order to complete requirement from several industries.
Companies are also following strategies like mergers and acquisitions to
improve their product range and expand there presence globally. Increasing
demand for eco-friendly paints and coatings have encouraged manufacturers to
make to make high investments in R&D activities to develop products to
comply domestic as well as international norms.
Access
Press Release of Paint Additives Market@
www.grandviewresearch.com/press-release/global-paint-additives-market
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
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