The global market for paint additives is
highly fragmented, with presence of several regional and
international players. 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.
A latest research by Future Market
Insights (FMI) projects the global market for paint additives to
exhibit a moderate 4.8% CAGR during the forecast period 2017 to 2022.
Revenues from the global paint
additives market will reach nearly US$ 9,000 Mn by 2022-end.
Huge investments are being made by
vendors of insulating paint additives in research & development
activities, with an aim of reducing the cost associated with
manufacturing and operation. Vendors are also concentrating on
product extensions and new technologies, to develop highly efficient
products with enhanced properties. Innovation and product
differentiation are primarily adopted strategies by vendors in the
market to maintain their presence in the market. These factors might
influence expansion of paint additives market across the globe. In
addition, rapid economic expansion in developing countries has led
toward a rise in industrial activities and architectural
construction. This has further fuelled adoption of paints, thereby
creating huge demand for paint additives.
Although environmental regulations have
kept expansion of the paint industry in check, manufacturers of
paints are endlessly stressing on reformulating their products, which
in turn is driving demand for novel additives. Surging demand for
multifunctional additives is another major factor favouring growth of
the global paint additives market. Utilised in paint formulations,
multifunctional additives offer performance level similar to that of
individual additives. Multifunctional additives reduce the cost, and
simplify the formulating process, and help aqueous solutions to
perform well and remain compliant with safety standards.
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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 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.
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