The global coating additives market is expected to register a robust CAGR of about 4.8% between 2022 and 2032. The market was evaluated at around US$ 10,613.3 Mn in 2021 and is predicted to reach US$ 17,724.8 Mn by 2032. According to the historical period, the global coatings market registered a healthy CAGR of 4.0% between 2016 and 2021. This growth is attributed to surging demand from a wide range of industries. Being one of the most crucial ingredients, coating additives are made up of such crucial ingredients consisting of coating formulations that help in regulating its performance. These additives are utilized in a variety of products, including automotive coatings, furniture, and construction. The rising demand for coatings additives is attributed to its widespread usage in several enduse industries such as automotive, architecture, wood & furniture, and others are expected to drive the market. Considering this, the global coating additives sales are projected to increase at 1.6x, exceeding US$ 11,090.9 Mn in 2022. Download Sample PDF @ https://www.futuremarketinsights.com/reports/sample/repgb-275 Coating additives are widely used to comply with stringent zero-VOC emission regulations, and various governments all over the world are increasing the demand for eco-friendly additives. Therefore, the introduction of green coating in several industries is expected to increase its sales. These coating additives are known for their technologically advanced features that incorporate complex formulations and are induced in paints in order to enhance the quality and performance. On the back of such advancements in coating additives technology, demand in the market is expected to witness lucrative growth at a steady pace over the projection period. Key Takeaways •
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Coating additives are known as the type of substances that are added to paints in order to elevate their performance and quality. These additives are utilized to enhance product characteristics and reduce or eliminate issues that arise during the production processes for formulating paint systems. One of the major factors propelling the growth of the coating additives market is the surging demand for environmentally friendly products all over the globe. Growth in the market is elevated by ongoing developments in the chemical industry, expansion of automotive and construction industries along with the expensive use of raw materials in order to improve the quality and application of coating formulations. The coatings additives market is anticipated to accelerate over the projection period since it is being benefited from the increased research and development activities in the sector. According to a recent study, key players in the market are likely to capitalize on the rising preference for long-lasting and appealing finishes and the popularity of customized coatings. Coating additives are considered to be a subset of chemically engineered materials with multiple uses in fields. These materials' performance improvements have led to their widespread incorporation into coatings formulations. Some of the prominent chemical properties such as improved wettability, rheology, dispersion, UV protection, chemical resistance, and high-temperature stability add up to the formulation. The aforementioned factors and widespread expansion of industries have led to propelling the market growth over the assessment period.