New York
City, 22 January 2019: The
global Coating Additives Market is anticipated to reach USD 11.91
billion by 2026 according to a new study published by Polaris Market Research.
Increasing demand of coatings from several end use industries is the major
factor driving this market.
There has been an insatiable and
continuing demand for improved and novel types of coating additives, not only
intended for competitive reasons but also to satisfy increasingly stringent
regulatory framework designed for the well-being of the environment. Mainly
three major driving forces have affected the growth of new-fangled additives.
New and rigorous environmental regulations, designed particularly to minimize
misuse & waste and encourage recovery and recycling of material, have undoubtedly
resulted in higher widespread application of new additive technologies in the
present industry scenario.
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Although application markets for these
products have been growing highly moderate, demand for improved and novel
additive systems are expected to increase considerably. Environmental pressure
being one of the main driving forces for introduction of new types of coating
additives, significant notice has also been taken of the effect on appearance
along with the costs of its utilization. Coating manufacturers are hence
currently required to innovate products that not only present aesthetic appeal
along with higher resistance to adverse service and atmospheric conditions but
are also completely acceptable to environment.
The Coating Additives Market is
factually and figuratively increasing sales of additives annually. Factors such
as rising environmental legislation, increasing prices of raw materials,
emerging application markets, industry consolidation, innovation of environment
friendly and cost-effective formulations have been the major trends in the
present industry scenario. Higher quality of additives with complex
technological specifications in terms of finish, rheology, material
constituents etc. has been the primary indicators for success.
Competitive
Landscape and Key Vendors:
Asia Pacific Coating Additives Market
is expected to emerge as the largest regional market by 2026. Presence of a
fairly established manufacturing base in many nations of the region along with
India and several South East Asia’s increasing production of automobiles,
consumer goods, developing infrastructure, industrial production etc. are the
major factors driving the industry. Several research and development projects
undertaken by the industry participants along with universities have been the
major factors for the development of high performance coating additive
formulations in the region. Presence of a well-established manufacturing base
in the U.S. and significantly growing automobile production market especially
in Mexico and Canada apart from the U.S. are the major factors driving the
North American Coating Additives Market.
Some of the leading coating additives
market participants in this category of coating production globally includes
Solvay, DSM, Lord Corporation, Jotun A/S, Eastman Chemical Company, Clariant
AG, Cabot Corporation, Dynea as (Norway), Rhodia SA, Double Bond Chemical
Ind., Co., Ltd. , ICL Advanced Additives, Kenrich Petrochemicals, Inc.,
Berger Paints, Beckers Group, Arkema SA, Sherwin-Williams Company, AkzoNobel,
Valspar Corporation, KCC Paint, Bayer AG, Nippon Paint, Kansai Paint, PPG Industries,
BASF and Axalta Coating Systems.
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