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The global paints & coatings additives market size is expected to gain momentum by reaching USD 12,659.4 million by 2027. This is attributable to the increasing demand for these additives in the construction sector across the globe. Fortune Business Insights, in its latest report, titled, “Paints and Coatings Additives Market Size, Share & COVID-19 Impact Analysis, By Type (Dispersing Agent, Rheology Agent, Leveling Agent, Anti-foaming Agent, Adhesion Promoting Agent, and Others), By Application (Automotive, Architectural, Wood, Industrial, and Others), and Regional Forecast, 2020-2027.”, observes that the market stood at USD 8,299.7 million in 2019 and is projected to exhibit a CAGR of 5.9% between 2020 and 2027.
Dow Introduces DOWSIL 8016 Waterborne Resin to Address Environmental Issues
In March 2020, Dow, a leading material science company, announced the launch of new generation silicone resin emulsion, DOWSIL 8016. The waterborne resin is ideal for high-temperature waterborne coating systems and contributes to the lower emission and odor of volatile organic compounds (VOCs). In addition to this, the resin formulation offers elevated coating hardness for metal substrates and extreme temperature resistance of about 500-6000 C. Apart from this, the company launched DOWSIL 107F Additive that is an anti-foam agent that is designed to formulate for industrial applications such as wood, architectural, and metal coatings.
The major companies such as Dow are constantly working on providing effective solutions to ease the environmental pressure and adhere to the stringent government regulations that will drive the demand for advanced paints & coatings additives in the forthcoming years.
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Increasing Demand from the Construction Sector to Promote Growth
The emission of VOCs from paints and solvents is leading to the formation of hazardous chemicals such as peroxyacetyl nitrate that is harming the ozone layer. Additionally, the extensive adoption of these solvents is contributing to extreme hazardous environmental conditions that are leading to high air pollution. Therefore, to mitigate the harmful effects of greenhouse gases, the manufacturers are surging the adoption of water-based solvents that will favor the demand for paints and coatings additives across the globe. The imposition of stringent government regulation is further expected to contribute to the growth of the global these additives market during the forecast period.
Prominent Companies Focus on Product Innovations to Amplify Their Market Positions
The global paints and coatings additives market is fragmented by the presence of established players such as Dow, Clariant AG, and BASF SE, among others. These companies are focusing on innovating advanced additives to cater to the rising demand from paints & coatings, construction, and automotive industries.
List of the Companies Operating in the Global Market:
Further Report Findings:
Table of Segmentation:
Value (USD Million); Volume (Kilotons)
Type; Application; and Geography