Paint Additives Market Analysis
Paint Additives Market Analysis
The quantity of paints and coatings manufactured worldwide is large, however most of these are produced by regional manufacturers with approximately ten or so dominant global players. These key multinational companies have expanded to other regions or are planning for expansion in any region that has a potential for paint & coating market. Rising demand for paint is expected to boost need for paint additives need over the forecast period.
Increased use of paints and coatings in the construction as well as the automotive sector, to elevate the aesthetical appearance and provide protection from external effects such as water, dust, and others is expected to fuel product growth over the next few years. Increased construction spending and growing automotive sector in emerging countries of Asia Pacific has made it largest region for paint & coating market, which in turn will have a positive impact on the additives demand over the forecast period.
Aerospace sector is a big market for paint and coatings. The aerospace coatings sector is huge sector for meeting consumer demand where companies like AkzoNobel N.V. have split the market into further sub-sectors. This is expected to fuel paint additive demand in this sector over the next few years.
The paint and coating industry faces stringent regulations from EPA, OSHA, EU and other regional agencies worldwide for manufacturing wet paints and coatings. This in turn will have a negative impact on the overall paint additives market over the forecast period. Volatile Organic Compounds (VOC) are required to conform to various statutory regulations and legislations. These organic compounds, which are widely utilized in paints, coatings, and technical applications, are subject to several governmental and federal regulations for controlling VOC emissions and limit human exposure to toxic substances.
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