The Asia-Pacific Paints and Coatings Additives Market size was valued at USD XX Billion in 2022 and is expected to surpass USD XX Billion by 2031, expanding at a CAGR of 6% during the forecast period, 2023 – 2031. Growth of the market is attributed to increasing population, unhealthy lifestyles, rising application of powder coatings, and growing demand for automotive industry.
Coating additives are the types of solutions used to improve the quality and performance of paints. They are used to improve product characteristics and remove or decrease issues that arise during the formulation and manufacture of paint systems. Paints and coatings are materials that are applied to a surface to protect it from corrosion, rusting, and erosion, all of which can contribute to surface deterioration.
Paint and coating additives are used as raw ingredients to improve paint and coating quality and application. A modest number of compounds applied to paints and coatings improves their efficacy and performance dramatically. Paints and coatings with these ingredients have a variety of qualities, including improved appearance, durability, and anti-corrosion.
The Covid-19 pandemic affected the demand and supply of Asia Pacific paints and coatings additives market. Lockdown across the globe, supply chain disorders, and oscillating supply of raw materials forced manufacturers to shut down production leading to unfortunate decline in market growth. Launch of vaccines to combat the Covid-19 pandemic is expected to contribute to the market growth over the forecast period.
Market Trends, Drivers, Restraints, and Opportunities
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Increasing demand for furniture coatings in China and increased building activity are anticipated to fuel the market during forecast period.
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Increasing demand for eco-friendly paints are key factor propelling the market in the coming years.
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Rising environmental concerns and restrictions is estimated to hamper the market growth.
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High cost of the products and increased raw material prices is projected to hamper the market expansion.
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Rising demand for beverage coatings in India is projected to create lucrative opportunities for the market players.
Scope of Paints and Coatings Additives Market Report
The report on the Asia Pacific paints and coatings additives market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Asia-Pacific Paints and Coatings Additives Market - Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Type (Biocides, Dispersants & Wetting Agents, Defoamers & Deaerators, Rheology Modifiers, Surface Modifiers, Stabilizers, Flow & Levelling Additives, and Others), Application (Architectural, Wood, Transportation, Protective, and Others)
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Geographical Scope
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China, India, Japan, South Korea, Australia & New Zealand, ASEAN, and Rest of Asia-Pacific
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Solvay, Atlana, Ashland, Dow, and ELEMENTIS PLC.
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Asia Pacific Paints and Coatings Additives Market Segment Insights
The architectural segment is projected to represent a major market share
On the basis of application, the Asia Pacific paints and coatings additives market is divided into architectural, wood, transportation, protective, and others.
The architectural segment is expected to hold a key share of the market during the forecast period. Additives used in commercial coatings, such as office buildings, warehouses, retail convenience shops, shopping malls, and residential structures, are included in the architectural sector. Rheological modifiers, defoamers, dispersants, and wetting agents are some of the most often used additives in architectural coatings. In general, architectural coating additives aid in improving surface characteristics, stabilizing pigment, improving wetting and dispersion capabilities, and defoaming properties.
China is expected to dominate the market
On the basis of regions, the Asia-Pacific paints and coatings additives market is classified as China, India, Japan, South Korea, Australia & New Zealand, ASEAN, and Rest of Asia-Pacific. China is anticipated to dominate the market during the forecast period. China has the largest economy in the Asia-Pacific in terms of GDP. One of the most important contributors to the country's economy is the manufacturing sector. The continuous improvement in the region's economic conditions has improved consumers' financial situations, which has boosted demand for constructions and other infrastructure operations in the country.
Additionally, foreign investment prohibitions on land development, high-end hotels, office buildings, international exposition centers, and the construction and management of big theme parks have been abolished. Moreover, foreign investment prohibitions on land development, high-end hotels, office buildings, international exposition centers, and the construction and management of big theme parks have been lifted.
Segments
The Asia-Pacific paints and coatings additives market has been segmented on the basis of
Type
- Biocides
- Dispersants & Wetting Agents
- Defoamers & Deaerators
- Rheology Modifiers
- Surface Modifiers
- Stabilizers
- Flow & Levelling Additives
- Others
Application
- Architectural
- Wood
- Transportation
- Protective
- Others
Geography
- China
- India
- Japan
- South Korea
- Australia & New Zealand
- ASEAN
- Rest of Asia-Pacific
Key Players
Competitive Landscape
Key players competing in the Asia Pacific paints and coatings additives market include Solvay, Atlana, Ashland, Dow, and ELEMENTIS PLC.
Some of these players are several market strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to increase their market shares.
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