Description :
Coating additives are added to paints and coatings to improve their quality , impact resistance , viscosity , and surface effectiveness . These coating additives also improve the dispersion of solids , wetting , foam-reduction , anti-catering , gloss control , anti-chipping and UV protection , of the coatings . Polymers , silicates , chemicals , and various gases are used as additives in coatings to augment the properties of coating and paints . In 2015 , the global coatings additives market was valued at $ 6,520 million and is expected to reach $ 11,020 million by 2022 at a CAGR of 6.9 %.
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The world coating additives market is anticipated to register substantial growth in the near future owing to increase in demand from various sectors such as architectural , industrial , automotive , wood & furniture , & others . Growth in demand for multifunctional additives , strict environmental regulations , and increase in awareness among users and formulators about the benefits of coating additives are the major factors that drive the market of coating additives across the globe . Rise in automotive and construction industries is expected to drive the coating additives market during the forecast period . As the industrial discharges or solid wastes of paint and coatings materials interfere with the local sanitary sewers that lead to the discharge of pollutants into local waterways . This may hinder the growth of the coating additives market because of rise in environmental concern .
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The report segments the coating additives market based on formulation , end user , and geography . On the basis of formulation , the market is segmented into water based , solvent based , powder based , radiation curable , and solvent less . Demand for water-borne coating additives formulations has increased tremendously in the recent past year due to their low volatile organic compound ( VOC ) content . On the basis of end-user , the market is divided into architectural , industrial , automotive , wood & furniture , and others .
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Geographically , the market is segmented into North America , Europe , Asia-Pacific , and LAMEA . In 2015 , Asia-Pacific occupied the largest share in the global coating additives market , followed by North America and Europe . Improvement in economies and increased demand from automotive , building , and construction industry drives the coating additives market in the Asia-Pacific region .
The key players profiled in the report include AkzoNobel N . V ., Arkema SA , Ashland Inc ., BASF SE , BYK-Chemie GmbH , The DOW Chemical Company , Solvay , Evonik Industries AG , Momentive Performance Materials Inc ., and Eastman Chemical Company . The vast product
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