The purpose of this rich study presented by FactMR is to elaborate the
various market projections impacting the global
coating additives market during the period until 2027. This
assessment delivers high-end statistics concerning market size, Y-o-Y growth in
trends and revenue share (US& Mn) linked to different geographies and
segmentation types. Readers can acquire precise insights about growth trends
along with opportunities that are expected to reshape the overall structure of
the coating additives market during the forecast period.
The coating additives
market remains
a consolidated landscape, with relatively high barriers for new entrants. The
tier 1 players hold nearly 45-50% revenue share and have a strong focus on
scaling up their regional presence. The tier 1 players are adopting
go-to-market strategies as a part of their differential strategies to attain
competitive benefits. These strategies are key to enhance customer outreach and
reaching out to the diverse end-users, yet in an efficient manner. However, the
tier 2 players are extensively focused on crafting unique products and
commercializing the same at competitive prices for gaining high-profit margins.
Rheology modifiers are used across multiple industries, notably cosmetics and
paints. They are widely used for scaling up system viscosity – and thereby
ameliorating crucial aspects such as storage stability and film thicknesses.
The demand for rheology additives is witnessing a spike as manufacturers focus
on making quality upgrades, such as making fluids less prone to dripping,
upgrading their textural profiles, and extending their shelf life.
Flow behavior remains one of the most important and
highly-valued features in case of coating compositions, which is immensely
taken care of by the rheology additives. With flow behavior of coating
compositions having deep-rooted influences on their application and film
formation, the demand for rheology additives is foreseen to rev up by a notable
margin. Performance requirements hold high significance in case of interior as
well as exterior architectural paints. These requirements are dynamic and they
vary in accordance to the designated areas of application. Architectural
coatings make up more than half of the entire coatings market, ranging from
wall paints for the interior to decorative coatings for the facade.
The texture and quality demanded of the coating in architectural
coatings, however, varies from professional to craftsmanship applications. The
importance of additives in accomplishments as such remains undeniable, which is
fostering its demand in case of interior and exterior architectural coatings.
Sustainability, often perceived as an imprecise term, has a
different meaning and importance for different constituencies. In case of the
painting and coatings industry, the “cradle to grave” concept is followed in
order to determine product sustainability.
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A set of considerations form the essence of this concept, such
as minimum energy use for manufacturing, use of renewable raw materials,
enhanced waste reduction, and improved product recycle potential. This concept
also encourages the influx of new varieties of resins and additives, creating
favorable circumstances for the coating additives market.
Furthermore, cost reduction also remains a key area in case of
manufacturing ecosystems. It can not only be achieved through raw material
savings, but also by reinvigorating the efficiency that is enabled by inclusion
of innovative materials, with additives being one of them.
Volatility in Raw Material Prices Prevails as
the Key Growth Impediment
Volatility in raw materials remains one of the key factors
posing major challenges for manufacturers in the coating additives market
space. Several chemicals that are utilized in the manufacturing process of
functional additives for coating are fundamentally crude oil derivatives. The
oil and gas industry remains one of the principal suppliers for raw materials,
such as phenols and aromatic amines, for manufacture of functional additives.
Fluctuations in case of crude oil prices remain have profound influences
on the prices of raw materials meant for functional additives manufacture. This
volatility of raw material prices affects the costs of functional additives,
which poses major challenges for the manufacturers apropos of gaining revenue
benefits.
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