THE GLOBAL COATING ADDITIVES MARKET SIZE TO CROSS USD 11 BILLION BY 2026, GROWING AT A CAGR OF 5% DURING THE FORECAST PERIOD

Global Coating Additives Market size, Share, Trends Analysis Report by Formulation (Solvent-Borne, Water-Borne, and Powder-Borne); Function (Rheology Modification, Defoamer, Biocides Impact Modification, Wetting & Dispersion, and Others); Type (Acrylic, Fluoropolymers, Epoxy, Urethanes, and Others); End-Use Industries (Automotive, Furniture, Construction, Industrial, Aerospace, and Others); and Geography (North America, APAC, Latin America, Europe, and Middle East & Africa); Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2021–2026

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Most Exhaustive Report

313 Pages

127 Tables

132 Charts

5 Regions

18 Countries

20 Companies

5 Market Segment

GLOBAL COATING ADDITIVES MARKET REPORT SCOPE

Report Attribute Details
MARKET SIZE (REVENUE) USD 11 BILLION (2026)
CAGR 5% (2021–2026)
Base Year 2020
Forecast Year 2021–2026
Market Segments Formulation (Solvent-Borne, Water-Borne, and Powder-Borne), Function (Rheology Modification, Defoamer, Biocides Impact Modification, Wetting & Dispersion, and Others), Type (Acrylic, Fluoropolymers, Epoxy, Urethanes, and Others), End-Use Industries (Automotive, Furniture, Construction, Industrial, Aerospace, and Others)
Geographic Analysis North America, APAC, Latin America, Europe, and Middle East & Africa
Countries Covered United States, Canada, China, India, Japan, South Korea, Indonesia, Thailand, Brazil, Mexico, Saudi Arabia, UAE, South Africa, Russia, Germany, France, United Kingdom and Spain

GLOBAL COATING ADDITIVES INDUSTRY INSIGHTS

The global coating additives market size was valued at USD 8 billion in 2020 and is expected to reach USD 11 billion by 2026, growing at a cumulative average growth rate (CAGR) of 5% during the forecast period. APAC is the largest market for coating additives market, followed by North America and Europe.

The water-borne formulation is likely to witness accelerating growth momentum due to the popularity of low volatile organic component (VOC) content and the growing demand for eco-friendly coating products. The demand for coating additives will grow significantly, particularly in the housing sector. Apart from residential places, the rising non-residential industry will drive the market in the construction sector. Owing to the rapid urbanization, rising disposable income, improved living standard, 100% FDI, and the substantial investment by government agencies to accommodate the growing population, is boosting the construction sector in emerging economies such as India, China, Japan, Brazil, and Thailand.

Automotive production to cross 100 million units by 2025. Post pandemic, global automotive production is estimated to recover and grow. Coating additives enhance functionalities. The automotive industry accounts for 15% of the market share. Emerging start-ups and growing industries in APAC to generate significant opportunities for coating additives vendors. Automotive, construction, furniture, aerospace, healthcare, and marine are the key industries in APAC. Rapid urbanization, increasing disposable incomes, and changing lifestyles have stimulated the growth of key industries in emerging economies such as China, India, Japan, South Korea, and Malaysia, generating excellent opportunities for the vendors.

SNIPPETS

  • Water-borne additives dominated the market share with a share of 49%, and their growth momentum will accelerate during the forecast period.
  • The construction industry is the leading segment of coating additives. It accounted for over 32% of the market share in 2020.
  • Growth of air traffic, aircraft delivery, international trade, and investments in the aviation sector is likely to drive the demand for additives in the aerospace industry.
  • APAC is the largest market for coating additives market, followed by North America and Europe.
  • The demand for smart coatings increases in the future because of their multifunctional benefits such as anti-fouling, anti-corrosive, anti-microbial, among others.

COATING ADDITIVES MARKET SEGMENTATION

The market research report includes detailed segmentation by

  • Formulation Type
  • Function
  • Type
  • End-user Industries

INSIGHT BY FORMULATION TYPE 

Water-borne formulation segment to cross over USD 5 billion by 2026

Water-borne coatings are adopted extensively due to low or no VOC emissions. The production of water-borne material is relatively low as they do not require additives, hardness, or thinners. The construction/architecture sector is the highest consumption of water-borne paints. They are ideal primers due to their resistance to heat and abrasion. Solvent-borne coatings are considered less environment-friendly due to high VOC emissions. They were widely used in Europe and North America region but likely to lose their share due to government regulations.

Powder-borne coatings release the lowest VOC emission. The major end-users include appliances, automotive, architectural, furniture, indoor air application, general industries, and other industrial application. APAC is the largest market for powder-borne types and is expected to occupy 43% of the market share. Increasing construction and automobile production in India, China, and Japan propel the demand for powder-borne formulation.

INSIGHT BY FUNCTION

The rheology modification segment is growing at the highest CAGR of over 6% during the forecast period.

Rheology modification, defoamer, biocides impact modification, wetting & dispersion are the major functions of additives. These functions play an essential role in the coating industry and impart improved solutions. The rheology modifier additives occupy approx. 30% of the global coating additives market share. Rheology modifiers are used in different industries such as automotive, adhesives and sealants, general industry, and coil coating to control sagging, anti-settling, high shear viscosity, and low VOCs emission.

Biocides are chemical substances used to protect the paint and coatings from algae, fungi, and other microbes. The segment is likely to generate incremental revenues of USD 700 million during the forecast period. Biocides are used in-can protection to prevent the spoilage of wet state products during storage and transportation.

INSIGHT BY TYPE

The global acrylic market to cross over USD 3 billion by 2026

Acrylic is the most widely used polymers in the coating industry. It is used across various applications such as architectural, special-purpose coating, and product finishes for original equipment manufacturers (OEMs). Fluoropolymer additives hold 23% of the market share. It is expected to grow at a CAGR of over 6% from 2020-2026. The fluoropolymer additives are expected to witness rapid growth during the forecast period because they provide excellent protection against chemicals, abrasion, temperature, electrical resistance, and corrosion properties. These factors make them ideal for automotive, electronics, architecture, food, heavy equipment, pharmaceutical, cookware, oil & gas production, and aerospace.

Urethane coating additives constitute excellent UV protection and durability properties, making urethane a perfect finish coat for industrial applications. The urethane segment is driven by the increasing demand from end-user industries such as automotive paints, construction, and furniture. The APAC urethane coating additive is expected to reach USD 670 million by 2026.

INSIGHT BY END-USER INDUSTRIES

The construction sector accounts for the largest consumption of coating additives.

The construction segment accounts for 32% of the global coating additives market share. The use of coating additives has increased due to increased construction projects in APAC, Europe, and North America regions. The major drivers for the increase in demand for coating additives are the increasing construction activities, renovation & restoration activities, rapid urbanization, and rising disposable incomes.

The automotive sector in the paint and coating additives market is likely to reach over USD 1.5 billion by 2026. The ability to protect vehicles from UV oxidation, scratch, stain, rust, and weather conditions fosters the demand for coating additives in the automotive sector. The upcoming trend of increasing electric vehicles in the automotive segment is likely to drive the demand for coating additives. APAC is the dominating market for coating additives in furniture, followed by North America. China is the leading manufacturer of furniture across the world. Canada is the fastest-growing country in North America for additives in wood and furniture, and it is the fourth-largest manufacturer of wooden furniture. Owing to increasing construction activities, the demand for smart homes is the prime reason for the growing demand for additives in wooden furniture.

INSIGHTS BY GEOGRAPHY

APAC dominated the coating additives market with a 41% share in 2020.

China, India, Japan, and South Korea majorly contribute to the coding additives market growth in the APAC region. Rising disposable incomes, strong economic growth, growing construction activities, and a robust automotive industry have primarily supported market growth in the region. China stands for the world’s largest EV market. In 2018, China was the home to almost 5 million low-speed electric vehicles. Currently, the country has around 2.3 million active electric vehicles, surpassing Europe and the US. Hence, the growing demand for electric and other vehicles enables the growth of the coating additives market in the automotive industry.

North America is the second-largest market for coating additives. The US is one of the largest construction markets worldwide. In the first quarter of 2020, the construction industry contributed more than USD 910 billion. The demand for greenhouse and government investment to construct non-residential projects in the region is likely to boost the demand for coating additives in the future years.

COMPETITOR LANDSCAPE 

The coating additives market is highly competitive. Both key and small players dominate the market. Vendors operating in the industry focus on developing innovative products to support sustainable development and expanding their product portfolio by making considerable investments in R&D. AkzoNobel NV, BASF SE, BYK, Evonik Industries Ag, and Arkema SA are the prominent players in the market. The competition will increase further due to technological advancement and expanded product lines.

The global coating additives market research report includes in-depth coverage of the industry analysis with revenue and forecast insights for the following segments:

Segmentation by Formulation Type

  • Solvent-borne
  • Water-borne
  • Powder-borne

Segmentation by Function

  • Rheology Modification
  • Defoamer
  • Biocides Impact Modification
  • Wetting & Dispersion
  • Others

Segmentation by Type

  • Acrylics
  • Fluoropolymers
  • Epoxy
  • Urethanes
  • Others

Segmentation by End-user Industries

  • Automotive
  • Furniture
  • Construction
  • Industrial
  • Aerospace
  • Others

Segmentation by Geography

  • North America
    • US
    • Canada
  • APAC
    • China
    • India
    • Japan
    • South Korea
    • Indonesia
    • Thailand
  • Latin America
    • Brazil
    • Mexico
  • Middle East & Africa
    • Saudi Arabia
    • UAE
    • South Africa
  • Europe
    • Russia
    • Germany
    • France
    • UK
    • Spain

Frequently Asked Questions

The global coating additives market size was valued at USD 8 billion in 2020 and is expected to reach USD 11 billion by 2026
APAC dominated the coating additives market with a 41% share in 2020.
Akzonobel NV, BASF, BYK, Evonik Industries and Arkema SA are the key players in the market
Automotive, furniture, construction, industrial, and aerospace are the major end-user industries.
In terms of end-user, the construction segment accounted for the largest market share in 2020.
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