According to Fact.MR, the global coating additives market was valued at nearly $8 billion in 2020, and is predicted to expand at a CAGR of 5% over the 2021-2031 forecast period.
Fact.MR believes that the global coating additives market will top US$11 billion by 2031, with waterborne coating additives projected to reach around US$ 2.5 billion by 2031. Solvent-based coating additives are projected to record above 4% CAGR over the next 10 years. China is forecasted to reach a projected market size above US$3 billion by 2031.
Transformation of the aerospace industry and increasing aircraft deliveries will accelerate demand for coating additives over the coming years. Multifunctional additives are pivotal advances in the coating industry. In addition, infrastructural growth rate in various countries has increased considerably.
Coating manufacturers have strict VOC emission permits driven by stringent regulations proffered by local and state authorities. In response to these emission regulations, technological advancements are focused on the development of natural additives.
“Coating additive manufacturers are focusing on expanding their product portfolios by adding sustainable and multifunctional additives, which are anticipated to witness high demand in the foreseeable future,” a research analyst reported.