The
global paint additives market is expected to reach USD 10.9 billion by 2025.
Growing use of paints and coatings in the construction and the automotive
sectors due to highly preferred solvent properties are major growth factors.
Other factors such as increase in the expenditure on construction activities
and rise in the adoption of paints and coatings in automotive sector, are
fueling growth of the paint additives market, mainly in developing economies
across the globe. The increasing use of paints and coating is expected to
influence demand for paint additives in the forecast period. Paint additives
market is expected to witness 6% CAGR in the forecast period.
The
stringent laws and regulation against harmful effects of paints and coating on
environment are compelling market players to adopt environment-friendly paints
and coatings additives that complies with the regional and international
regulations. This has led market players to significantly invest in research
and development for paint addictive market. With the development of low cost
solutions to avoid the use of volatile organic compounds is contributing to the
market expansion in upcoming years.
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Number
of international and local governing agencies are regulating the use of paints
and addictive such as European union (EU), and national institute for
occupational safety and health (NIOSH). These regulations allow industries to
avoid dangers of adverse chemical and physical effects along with the use of
raw materials and storage equipment.
Paint
and coating additives consists of a variety of elements that are added into
polymer resins, dyes, varnishes and other materials in order to change their
specific properties as per the requirements. Paint additives are categorized
into various materials such as insulating paint additives, powder varnish
additives, reagents, moistening agents, levelers, clarifier, coupling
addictive, de-flocculants, thinning agents, viscous agents, and anticaking
additives. Paint additives and varnishes occur in various forms as well.
The
wide range of paint addictive and coating additives such as insulating paint
additives and powder coating additives utilizes premium quality base materials
in their production. The main objective for using paint addictive is to
accomplish properties such as water resistance, erosion resistance, and
endurance against heat and abrasion. Currently available paint addictive and coating
addictive in the market are mostly safe and environment-friendly. With recent
development for the production of paint addictive and coating additives has led
to extremely reasonable prices.
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Paint
additives consists of an extremely vital type of raw materials that utilized
for the production of paints and coating materials, also in various application
that are narrowly associated with coating materials. The essential factors
associated with paint addictive are quality and coating application properties
that are dependent on the type of raw material used. Also, selection of the
correct additives that is to be added with the paints and coating is
significantly vital.
Selection
particular addictive for paint and coating material majorly influence on the characteristics
of the paint and coating materials. Additives causes change in functionality of
added materials such as binder, pigment extender, and solvent. Quantity of
additives varies as per requirement, typically ranges from five to ten percent
by weight. Though, standard proportion of a one additive in a coating
formulation is commonly around one and half percent to the overall quantity of
the paint material.
The
paint additives market is divided into regional market segment such as North
America, Europe, Asia-Pacific, Latin America and Africa. Asia-Pacific region is
predicted to hold major market share in the paint additives market with massive
growth in forecast period. Countries such as Japan, Malaysia, China and India
are leading the Asia-Pacific market with the growing need for infrastructural
facilities and increasing investment by market players due to potential growth
opportunities. North America and Europe region have shown major growth in
recent years owing to the rise in commercial as well as residential
construction and rising living standards. The key players in the paint
additives industry are AkzoNobel Co., Arkema S.A., BASF Enterprises, Evonik
Industries, Ashland Global Holdings Incorporations, and Buckman Laboratories
Incorporations.
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