Waterborne Coating Additives Industry 2023 share is Expected to Boost the Demand and Growth by 2030
Waterborne Coating Additives Industry Overview:
The Waterborne Coating Additives Industry refers to the industry that produces and supplies various chemical compounds used to enhance the performance and properties of water-based coatings. Waterborne coatings are used in various industries, including construction, automotive, aerospace, and furniture, among others, and require additives to improve adhesion, wetting, leveling, and flow properties. The market for waterborne coating additives is expected to grow significantly in the coming years due to the increasing demand for environmentally friendly coatings, stricter government regulations on emissions, and advancements in technology that allow for improved performance and durability of water-based coatings.
Furthermore, government policies regarding VOC emission are going in favor of the waterborne coating additives market. Automotive and construction industries are major recipients of such benefits as the sectors are keeping a firm eye on products utilized to maintain safety standards. Needs to prevent flocculation of the dispersed particles in coatings can intrigue a lot of industries into adapting waterborne coating additives, hence, driving the waterborne coating additives market in the process.
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Market Segmentation
The global waterborne coating additives market is segmented based on product type, and end-use industry.
Based on the product type, the waterborne coating additives market is segmented into wetting agents & dispersing agents, defoamers, surface control additives, deaerators, rheology modifiers, hydrophobic agents, and others. The rheology modifier segment contributes substantially to the development of the market.
Based on the end-use industry, the waterborne coating additives market includes building & construction, automotive, packaging, and others.
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Regional Analysis:
Geographic analysis of the waterborne coating additives market spans across Asia Pacific (APAC), North America, Europe, Latin America (LATAM), and the Middle East & Africa (MEA).
The APAC market is having the lion’s share of the market in terms of revenue and is expected to retain its market position during the forecast period as well with a healthy CAGR. The market can acknowledge the aspects such as increased industrialization, fast-tracked urbanization, consumer awareness regarding eco-friendly products among many as major factors. In addition, the automobile sector is gaining significant traction in the region and thrust can get quite substantial.
North American market shares similarities with the European market. Both markets are quite mature in terms of production and infrastructure which have given them a considerable footing in the waterborne coating additives Market Survey. Europe’s automobile industry is quite vast and is impacting the regional market to the core. Furthermore, these regions have stringent regulations regarding pollution during production.
The MEA market can expect rising demand for the waterborne coating additives market due to ongoing infrastructural projects initiated to develop the tourism industry. Latin American market prosperity depends on the infrastructural development initiated by countries such as Mexico and Brazil.
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Competitive Analysis:
Prominent players in the global waterborne coating additives market are Akzo Nobel NV (Netherlands), Allnex group (China), BASF SE (Germany), BELAMI FINE CHEMICALS PVT. LTD.(India), ALTANA (Germany), Evonik Industries AG (Germany), Dow Corning Corporation (U.S.), Falcon Technologies Inc. (U.S.), Harmony Additive Pvt. Ltd. (India), and UL LLC (U.S). Players often involve in strategies such as product launch, merger, acquisition, collaboration, and other methods to stay afloat in the global market. These decisions help not only them sustain, but the market grows as a whole.
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