Market Overview
The global paint additives market was valued at USD 9.10 Billion in 2022 and is projected to reach USD 12.07 Billion by 2030, registering a CAGR of 4.1% for the forecast period 2023-2030
Chemicals known as paint additives improve the qualities, performance, and look of the paint. Low-level compounds called paint additives give paint qualities including smooth flow, resistance to deforming, and fungal growth. These substances are also utilized to speed up the manufacturing process and enhance the effectiveness and quality of the paint. The performance and effectiveness of the coating are improved when the additives are mixed with paint during the manufacturing process. Additionally, paint additives contribute to the paint's increased thickness and volume. Paint additives make it simple to apply paint, keep drips at bay, and improve coverage. By preventing the development of a film on the paint surface, additives also significantly increase the longevity of the paint during storage. By preventing heavy particles from settling at the bottom of the paint, additives also reduce leaking while applying the paint.
Due to the increased construction projects brought on by the growing population and the extensive use of paints in buildings and other structures, the developing construction sector is a key factor in the expansion of the paint additives market. The market for paint additives is growing as a result of increased environmental controls on VOC emissions.
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Competition Analysis
Key companies profiled in the paint additives market report include Arkema SA, BASF SE, Akzo Nobel NV, BYK-Chemie GmbH, Asahi Glass Co. Ltd., Lonza Group AG, Dow Chemical, Daikin Industries Ltd., Evonik Industries AG, Arch Chemicals, Ashland Global Holdings Inc. and others. These companies are adopting strategies such as facility expansions, mergers, acquisitions, new product launches, and collaborations to gain a competitive edge in the market.
Market Segmentation
Segmentation Analysis of the Paint Additives Market
By Product Type
Biocides
Rheology Modifiers
By Formulation
Water-Based Paint
Solvent-Based Paint
By Application
Industrial
Architectural
Automotive
Wood & Furniture
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Opportunities for Paint Additives Market
The paint additives business is evolving quickly. For several end-user industries, this had resulted in the production of specialized and ecologically friendly paints. The market for paint additives is expanding due to the numerous alternatives available for using them on various surfaces. Another reason driving the expansion of the paint additives market is the myriad advantages that paint additives offer.
For example, water-based paints not only allow wood to expand and contract without breaking, but they also improve the wood's current condition. The growth of the paint additives market is also being aided by the expansion of the construction sector and smart cities. Technology improvements are assisting in the precise disposal of paint additives, thus increasing their viability.
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