North America Coating Additives Market Size, Share & Industry Trends Analysis Report By Type, By Formulation, By End Use, By Function, By Country, Historical Data and Growth Forecast, 2021 - 2027
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Market Report Description
The North America Coating Additives Market would witness market growth of 4.2% CAGR during the forecast period (2021-2027).
Coating additives are added to paints to improve their quality and performance, such as solids dispersion, foam reduction, wetting, anti-catering, anti-chipping, gloss control, and UV protection. They also assist surfaces in dealing with higher temperatures, abrasion, moisture, biocides, and chemical resistance. The market for coating additives is driven by features like these.
During the forecasting period, the market is likely to be fueled by growth in the automotive, building, and construction industries. During the forecast period, environmental restrictions adopted for coating additives to lower VOC content to avoid environmental hazards are also predicted to have a significant impact on the coating additives market.
The construction industry makes a considerable contribution to the American economy. The US economy, worth $20 trillion, is built on a huge infrastructure network that includes everything from bridges and highways to freight rail and ports, as well as electrical grids and internet access. The country's coatings additives industry is primarily driven by rising residential construction expenditure and increased demand for upgrading existing structures.
The US market dominated the North America Coating Additives Market by Country 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $1,756.3 million by 2027. The Canada market is expected to witness a CAGR of 6.6% during (2021 - 2027). Additionally, The Mexico market would experience a CAGR of 5.7% during (2021 - 2027).
Based on Type, the market is segmented into Acrylic, Fluoropolymers, Urethanes, Metallic Additives, and Others. Based on Formulation, the market is segmented into Water-borne Coating, Solvent-borne Coating, Solventless Coating, Powder Coating, and Radiation Curable Coating. Based on End Use, the market is segmented into Architectural, Automotive, Industrial, Wood & Furniture, and Others. Based on Function, the market is segmented into Rheology Modification, Anti-foaming, Wetting & Dispersion, Biocides, Impact Modification, and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Akzo Nobel N.V., The Dow Chemical Company, BASF SE, Arkema S.A., Evonik Industries AG (RAG-Stiftung), Momentive Performance Materials, Inc., Lanxess AG, Eastman Chemical Company, Clariant AG, and Elementis PLC.
Scope of the Study
Market Segments Covered in the Report:
- Metallic Additives
- Water-borne Coating
- Solvent-borne Coating
- Solventless Coating
- Powder Coating
- Radiation Curable Coating
By End Use
- Wood & Furniture
- Rest of North America
Key Market Players
List of Companies Profiled in the Report:
- Akzo Nobel N.V.
- The Dow Chemical Company
- BASF SE
- Arkema S.A.
- Evonik Industries AG (RAG-Stiftung)
- Momentive Performance Materials, Inc.
- Lanxess AG
- Eastman Chemical Company
- Clariant AG
- Elementis PLC
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