Coating Additives Market Analysis - Likely To Witness Expansion At 6% CAGR By 2018
The primary function of coating additives is to enhance the performance of coatings. Coating additives also cater to issues like foaming, inconsistent rheology, wetting & dispersing and biocides. The coating additives market is likely to witness expansion at around 6% CAGR by 2018.
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Technological advancements coupled with development of eco-friendly and multifunctional additives are anticipated to drive the coating additives market. However, strict legislations and bio based coatings, like waterborne or powder-based coatings are predicted to hamper the market.
The coating additives market can be segmented into applications, types, functions and geographies. The applications market can be segregated into automotives, architecture, wood and furniture and industrial applications. Architecture is the largest application of coating additives and is followed by automotives.
On the basis of types, the coating additives market is segregated into urethane coating additives, metallic coating additives, acrylic coating additives and fluoropolymers coating additives. Acrylic coating additives dominated the market, whereas fluoropolymers coating additives were the fastest growing sector.
The coating additives market, on the basis of functions, can be divided into rheology modifiers, anti foaming additives, biocides, wetting & dispersing and impact modifiers. Rheology modifiers accounted for the largest share. Biocides and anti foaming additives have shown steady growth. Wetting and dispersing is the fastest growing segment.
Geographically, Asia Pacific dominated the coating additives market. It was followed by North America, Europe and ROW (Rest of the world). Rising demand for coating additives in Asia Pacific is mainly driven by China’s huge automotive industry. North America is driven by the United States’ largest market.
Coating Additives Market Analysis
Information Source: Grand View Research
Posted on Apr 2, 2015 | Category Chemical