Paint Additives Market to Register Phenomenal Growth Due to Inclination Towards Green Paints

Paint Additives Market Analysis:

The global Paint Additives Market is predicted to grow at a 6.75% CAGR over the forecast period (2023-2030), states the latest Market Research Future (MRFR) report. Paint additives, simply put, are special ingredients that are utilized to enhance the quality and functional performance of paints. It aids to modify the various properties of paints to enhance the viscosity, efficacy of paints, foam reduction, gloss control, anti-chipping, flow control, and impact resistance.

Various factors are propelling the paint additives market growth. Some of these factors according to the Market Research Future report, include growing demand for paint additives from architectural and industrial segments, rising inclination towards green paints, rising economic development especially in emerging countries that have led to the rising industrial and architectural construction activities. Moreover, paints and coatings are used in an array of applications in different industries including automotive, machinery, furniture, cookware and household, aerospace, marine, oil and gas, and others which is also pushing market growth. Additional factors pushing market growth include an increase in research and development activities and a rise in construction spending, especially in emerging economies.

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On the contrary, strict environmental regulations about the VOC content may hamper the paint additives market growth over the forecast period.

Market Segmentation

The MRFR report offers a wide segmental analysis of the paint additives market on the basis of application and type.

Based on product type, the paint additives market is segmented into wetting and dispersion agents, anti-foamers, biocides, rheology modifiers, and others. Of these, the rheology modifiers segment will have the largest share in the market over the forecast period. This is owing to its extensive use in the building and construction, and automobile sectors. Rheology modifiers are used in inks, coatings, and paints to improve the characteristics and properties of the fluids. These additives help in reducing spattering at the time of application, thus are used in various industries.

Based on application, the antimicrobial paint additive market is segmented into automotive, wood and furniture, industrial, architectural, and others. Of these, the architectural segment will dominate the market over the forecast period. This is owing to its growing need in commercial and residential buildings. Architectural coatings are utilized in deck finishes, walls, and roofs, among others.

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Key Players

Leading players profiled in the paint additives market report 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, among others. Key players are adopting strategies such as product innovations, mergers, expansions, and partnerships to create a niche in the market.

Regional Analysis

Based on the region, the paint additives market report covers the latest trends and growth opportunities across Europe, the Asia Pacific, North America, Latin America, and the Middle East and Africa. Of these, the Asia Pacific will reign the market over the forecast period. This is owing to the growing automobile and construction industry in the region. Moreover, expanding GDP, and the growing population that has increased the government expenditure on construction activities is also boosting the market growth.

The paint additives market in North America is predicted to have the second-largest share in the market over the forecast period. This is on account of the presence of key coating and paint manufacturers in this region, increased expenditure on construction activities, and the growing automobile industry. Canada is the key contributor in this region.

The paint additives market in Europe is predicted to have a healthy growth over the forecast period. This is owing to expanding paint and coatings industry, increasing construction spending, especially in Germany, and the presence of key automobile manufacturing industries. On the contrary, the region has stringent EU regulations that may hamper the growth of the market to some extent.

The paint additives market in Latin America is predicted to have a notable growth over the forecast period owing to growing industrialization.

The paint additives market in the Middle East and Africa is predicted to have moderate growth over the forecast period due to growing construction and automotive industries.

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