Paint Additive Market Top Scenario, SWOT Analysis, Business Overview, Forecast
The global market for paint additives is highly fragmented, with presence of several regional and international players. A number of domestic vendors have been observed to enter the market, influenced by rapid growth in urbanisation and industrialization in emerging economies. These vendors are competing on the basis of innovation, product quality, price, operation cost, and economies of scale for strengthening their position in the market. A latest research by Future Market Insights (FMI) projects the global market for paint additives to exhibit a moderate 4.8% CAGR during the forecast period 2017 to 2022. Revenues from the global paint additives market will reach nearly US$ 9,000 Mn by 2022-end.
Vendors of Paint Additives are Focusing on Product
Differentiation & Innovation to Maintain their Market Presence
Huge investments are being made by vendors of insulating
paint additives in research & development activities, with an aim of
reducing the cost associated with manufacturing and operation. Vendors are also
concentrating on product extensions and new technologies, to develop highly
efficient products with enhanced properties. Innovation and product
differentiation are primarily adopted strategies by vendors in the market to
maintain their presence in the market. These factors might influence expansion of
paint additives market across the globe. In addition, rapid economic expansion
in developing countries has led toward a rise in industrial activities and
architectural construction. This has further fuelled adoption of paints,
thereby creating huge demand for paint additives.
Architectural Sector to Remain Dominant End-users of
Paint Additives
Architectural sector is the major end-user of paint
additives and will continue to dominate the market, in terms of revenues.
Rising construction of residential and commercial buildings, especially in
emerging regions, will drive demand for paint additives, as they improve
corrosion resistance, abrasion resistance, thermal stability, and water
resistance. Growing urbanization, improving living standards of population
worldwide, and growth in construction activities are factors fuelling adoption
of paint additive in the architectural end-use industry.
Acrylics to Remain Sought-after among Products in the
Market
Acrylics are expected to remain sought-after among products
in the global paint additives market, followed by fluoropolymers. Sales of
fluoropolymers and acrylics are expected to exhibit similar CAGRs in the market
through 2022. In addition, sales of acrylics is expected to account for nearly
US$ 2,500 Mn revenues by 2022-end.
Europe is expected to remain the largest market for paint
additives, in terms of revenues. The paint additives market in Asia-Pacific
excluding Japan (APEJ) is expected to create an absolute $ opportunity of
nearly US$ 400 Mn between 2017 and 2022. The market in Japan is projected to
register a relative faster expansion than all remaining regional segments
included in the report.
FMI’s report has listed key leading companies manufacturing
paint additives, which include Daikin Industries, Ltd., Lonza Group AG, Arch
Chemicals, Evonik Industries AG, Dow Chemical, Asahi Glass Co., Ltd.,
BYK-Chemie GmbH, BASF SE, Ashland Global Holdings, Inc., Arkema SA, and Akzo
Nobel NV.
Read Full Report@ https://www.futuremarketinsights.com/reports/paint-additives-market
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