Paints and Coatings Additives Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Paints and Coatings Additives Market is segmented by type (biocides, dispersants, and wetting agents, defoamers and deaerators, rheology modifiers, surface modifiers, stabilizers, flow and leveling additives, and other types), application (architectural, wood, transportation, protective, and other applications), and geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa). The report offers market size and forecasts for the paints and coatings additives market in revenue (USD) for all the above segments.

Paints and Coatings Additives Market Size

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Paints And Coatings Additives Market Summary
Study Period 2019 - 2029
Market Size (2024) USD 8.79 Billion
Market Size (2029) USD 10.57 Billion
CAGR (2024 - 2029) 3.76 %
Fastest Growing Market Asia Pacific
Largest Market Asia Pacific

Major Players

Paints And Coatings Additives Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Paints and Coatings Additives Market Analysis

The Paints and Coatings Additives Market size is estimated at USD 8.79 billion in 2024, and is expected to reach USD 10.57 billion by 2029, growing at a CAGR of 3.76% during the forecast period (2024-2029).

COVID-19 negatively impacted the market for paints and coatings additives in 2020. However, with the resumption of work in major end-user industries, the market is estimated to grow steadily in the coming years.

  • The increased demand for architectural coatings is the major factor driving the market studied.
  • Conversely, rising environmental regulations are expected to hinder market growth.
  • Increasing demand for rheology modifiers in various industries will likely be an opportunity.
  • Asia-Pacific dominated the global market, with the largest consumption in China and India.

Paints and Coatings Additives Market Trends

Architectural Segment to Dominate the Market

  • The architectural segment includes additives used in coatings for commercial purposes, such as office buildings, warehouses, retail convenience stores, shopping malls, and residential buildings.
  • Some majorly used additives for architectural coatings include rheological modifiers, defoamers, dispersants, and wetting agents.
  • Generally, the additives used for architectural coatings help to enhance surface properties, stabilizing pigment, enhancing wetting, dispersing, and defoaming properties, etc.
  • According to the US Census Bureau, the value of new construction output in the United States amounted to USD 1,792.9 billion in December 2022. The non-residential sector accounted for USD 997.14 billion in March 2023, registering a growth of 18.8% compared to the same period of the previous year.
  • Moreover, according to the US Census Bureau, the private and public construction non-residential spending in June 2022 was 492.68 billion, which showed an increase of 1.74% compared to June 2021, which amounted to USD 484.26 billion. Therefore, increasing spending on private and public non-residential constructions in the country is expected to create an upside demand for the paints and coatings additives market.
  • Apart from that, there are various construction commercial projects scheduled in the United States Red Bull North America's USD 740 million worth 2 million sq ft processing and distribution facility in Concord, North Carolina, Dairy cooperative DairgoldUSD 500 million worth 400,000 sq ft processing facility in Port of Pasco, Washington (completion scheduled for 2023), Biotics Research Corporation USD 9 million worth 88,000 sq ft warehouse, laboratory, and office facility in Rosenberg, Texas (completion scheduled for 2023).
  • Increasing investment in residential constructions in Saudi Arabia is expected to boost the demand for the paints and coatings additives market. For instance, in Saudi Arabia, the growing number of real estate developments, increasing demand for residential property, and governmental initiatives to develop socio-economic infrastructure drive the country's paints and coatings additives market. According to Majid Al-Hogail, the Saudi Housing Minister, the Kingdom of Saudi Arabia plans to construct 300,000 extra housing units over the next five years. One of Saudi Arabia's significant initiatives under Vision 2030 is housing. It will likely create demand for the paints and coatings additives market from the country's construction sector in the upcoming years.
  • Such initiatives by the government are expected to rapidly boost the construction industry. It is also further boosting the consumption of coating and, in turn, coating additives in the construction sector.
  • Hence, all such residential construction investments and projects are driving construction activities in these countries, along with the consumption of paints and coatings for application in residential construction.
Paints & Coatings Additives Market - Value of Construction Output, in CNY trillion, China, 2018 - 2022

Asia-Pacific to Dominate the Market

  • Asia-Pacific is aiming for the development of its paints and coatings sector. It is on the way to becoming the center of the global paints and coatings supply chain, leveraging its easy access to key feedstock, production of basic molecules, and access to the regional market.
  • Asia-Pacific includes a persistent expedition in making some of the tallest, largest, and biggest structures. The paints and coatings industry in the country is expected to register steady growth in the coming years. The construction industry is poised to witness sturdy growth in the forthcoming years, augmenting the demand for coating additives.
  • China holds the largest Asia-Pacific market share for the paints and coatings additives market. The demand for the paints and coatings additives market is expected to rise throughout the forecast period due to rising investments and construction activity in the country. China is a huge contributor, as it is one of the leading investors in infrastructure worldwide over the past few years. For instance, according to the National Bureau of Statistics (NBS) of China, in 2022, the output value of construction works in China amounted to CNY 31.2 trillion (USD 475.84 billion), an increase of 6.5% compared with 2021.
  • Moreover, in China, according to the country's Ministry of Housing and Urban-Rural Development, the construction industry will maintain a 6% share of the country's GDP by 2025. There is a growing trend in the country for prefabricated buildings, which is expected to account for more than 30% of the country's new construction.
  • According to the National Development and Reform Commission, the Chinese government approved 26 infrastructure projects at an estimated investment of about USD 142 billion, estimated to be completed by 2023. The growing demand for housing is expected to drive residential construction in the public and private sectors. Therefore, increasing investments in residential construction is expected to create an upside demand for the paints and coatings additives market from the country's construction industry.
  • India is anticipated to remain the fastest-growing G20 economy in the Asia-Pacific region. The Indian government announced a target of USD 376.5 billion in infrastructure investment over three years (2023-2025). It includes USD 120.5 billion for developing 27 industrial clusters and USD 75.3 billion for road, railway, and port connectivity projects. Therefore, this will likely create an upside for paints and coatings additives from the country's construction industry.
  • Moreover, according to IBEF, in Union Budget 2022-2023, the government allocated INR 10 trillion (USD 130.57 billion) to enhance the infrastructure sector. Moreover, India plans to spend USD 1.4 trillion on infrastructure through the 'National Infrastructure Pipeline' in the next five years.
  • Furthermore, the civil aviation minister announced that the Indian government is also planning to construct 100 airports by 2032, owing to increasing demand for air commutes.
  • The factors above are expected to make the Asia-Pacific the dominant globally during the forecast period.
Paints and Coatings Additives Market - Growth Rate by Region

Paints and Coatings Additives Industry Overview

The Paints and Coatings Additives Market is partially consolidated in nature. The major players in this market (not in a particular order) include Dow, BASF SE, Altana Group (BYK), Evonik Industries AG, and Elementis PLC.

Paints and Coatings Additives Market Leaders

  1. Dow

  2. Evonik Industries AG

  3. BASF SE

  4. ELEMENTIS PLC

  5. ALTANA AG

*Disclaimer: Major Players sorted in no particular order

Paints and Coatings Additives Market Concentration
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Paints and Coatings Additives Market News

  • March 2023: BASF announced plans to expand its polymer dispersions production capacity by adding a second production line at its site in the Daya Bay Petrochemical Industrial Park in Guangdong, China.
  • January 2022: The Bodo Möller Chemie Group and Evonik Industries announced a cooperation agreement for special binders and additives specifically for the paint and varnish industry and textile, leather finishing, and printing inks in East Africa. The collaboration for specialty chemicals will initially be for the East African countries of Kenya, Uganda, Tanzania, Rwanda, and Burundi. The products offered will be matting agents, antistatic additives, rheology agents, defoamers, wetting agents, tackifying agents, dispersants, silicone resins, and silicone-modified binders.

Paints & Coatings Additives Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Increased Demand for Architectural Coatings

      2. 4.1.2 Increasing Demand for Rheology Modifiers in Various Industries

      3. 4.1.3 Other Drivers

    2. 4.2 Restraints

      1. 4.2.1 Rising Environmental Regulations

      2. 4.2.2 Other Restraints

    3. 4.3 Industry Value Chain Analysis

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Buyers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

  5. 5. MARKET SEGMENTATION (Market Size in Value)

    1. 5.1 Type

      1. 5.1.1 Biocides

      2. 5.1.2 Dispersants and Wetting Agents

      3. 5.1.3 Defoamers and Deaerators

      4. 5.1.4 Rheology Modifiers

      5. 5.1.5 Surface Modifiers

      6. 5.1.6 Stabilizers

      7. 5.1.7 Flow and Leveling Additives

      8. 5.1.8 Other Types

    2. 5.2 Application

      1. 5.2.1 Architectural Paints and Coatings

      2. 5.2.2 Wood Paints and Coatings

      3. 5.2.3 Transportation Paints and Coatings

      4. 5.2.4 Protective Paints and Coatings

      5. 5.2.5 Others Applications

    3. 5.3 Geography

      1. 5.3.1 Asia-Pacific

        1. 5.3.1.1 China

        2. 5.3.1.2 India

        3. 5.3.1.3 Japan

        4. 5.3.1.4 South Korea

        5. 5.3.1.5 Rest of Asia-Pacific

      2. 5.3.2 North America

        1. 5.3.2.1 United States

        2. 5.3.2.2 Canada

        3. 5.3.2.3 Mexico

      3. 5.3.3 Europe

        1. 5.3.3.1 Germany

        2. 5.3.3.2 United Kingdom

        3. 5.3.3.3 Italy

        4. 5.3.3.4 France

        5. 5.3.3.5 Rest of Europe

      4. 5.3.4 South America

        1. 5.3.4.1 Brazil

        2. 5.3.4.2 Argentina

        3. 5.3.4.3 Rest of South America

      5. 5.3.5 Middle-East and Africa

        1. 5.3.5.1 Saudi Arabia

        2. 5.3.5.2 South Africa

        3. 5.3.5.3 Rest of Middle-East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share(%)**/Ranking Analysis

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 AGC Inc.

      2. 6.4.2 ALTANA AG

      3. 6.4.3 Arkema

      4. 6.4.4 Ashland

      5. 6.4.5 BASF SE

      6. 6.4.6 Cabot Corporation

      7. 6.4.7 DAIKIN INDUSTRIES, Ltd.

      8. 6.4.8 Dow

      9. 6.4.9 Dynea AS

      10. 6.4.10 Eastman Chemical Company

      11. 6.4.11 ELEMENTIS PLC

      12. 6.4.12 Evonik Industries AG

      13. 6.4.13 K-TECH (INDIA) LIMITED

      14. 6.4.14 Momentive

      15. 6.4.15 Nouryon

      16. 6.4.16 Solvay

      17. 6.4.17 The Lubrizol Corporation

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

    1. 7.1 Shifting Trends Towards Water Coatings

    2. 7.2 Other Opportunities

**Subject to Availability
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Paints and Coatings Additives Industry Segmentation

Additives are a small number of raw materials added to paints or coatings to enhance properties. The market is segmented based on type and application. The market is segmented by type into biocides, dispersants and wetting agents, defoamers and deaerators, rheology modifiers, surface modifiers, stabilizers, flow and leveling additives, and other types. The market is segmented by application into architectural, wood, transportation, protective, and other applications. The report offers market size and forecasts for 15 countries across major regions. For each segment, market sizing and forecasts are based on revenue (USD) for all the above segments.

Type
Biocides
Dispersants and Wetting Agents
Defoamers and Deaerators
Rheology Modifiers
Surface Modifiers
Stabilizers
Flow and Leveling Additives
Other Types
Application
Architectural Paints and Coatings
Wood Paints and Coatings
Transportation Paints and Coatings
Protective Paints and Coatings
Others Applications
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
Italy
France
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle-East and Africa
Saudi Arabia
South Africa
Rest of Middle-East and Africa
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Paints & Coatings Additives Market Research FAQs

The Paints and Coatings Additives Market size is expected to reach USD 8.79 billion in 2024 and grow at a CAGR of 3.76% to reach USD 10.57 billion by 2029.

In 2024, the Paints and Coatings Additives Market size is expected to reach USD 8.79 billion.

Dow, Evonik Industries AG, BASF SE, ELEMENTIS PLC and ALTANA AG are the major companies operating in the Paints and Coatings Additives Market.

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).

In 2024, the Asia Pacific accounts for the largest market share in Paints and Coatings Additives Market.

In 2023, the Paints and Coatings Additives Market size was estimated at USD 8.47 billion. The report covers the Paints and Coatings Additives Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Paints and Coatings Additives Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

Paints and Coatings Additives Industry Report

Statistics for the 2024 Paints and Coatings Additives market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Paints and Coatings Additives analysis includes a market forecast outlook to for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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Paints and Coatings Additives Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)