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Coating Additives Market Size
- Report ID: GMI6765
- Published Date: Sep 2023
- Report Format: PDF
Coating Additives Market Size
Coating Additives Market size was valued at around USD 10.6 billion in 2023 and is anticipated to grow at a CAGR of 5.8% between 2024 and 2032. Increasing construction activities, including residential, commercial, and infrastructure projects, drive the demand for architectural coatings and additives. Coating additives are used to enhance properties such as durability and weather resistance.
The automotive industry requires high-performance coatings to improve aesthetics, corrosion resistance, and durability. Coating additives play a crucial role in achieving these properties. The furniture and woodworking industry relies on coatings for aesthetics and protection. Additives enhance properties like scratch resistance, gloss, and UV resistance in wood coatings.
| Report Attribute | Details |
|---|---|
| Base Year: | 2023 |
| Coating Additives Market Size in 2023: | USD 10.6 billion |
| Forecast Period: | 2024 to 2032 |
| Forecast Period 2024 to 2032 CAGR: | 5.8% |
| 2032 Value Projection: | USD 17.5 billion |
| Historical Data for: | 2018 to 2023 |
| No. of Pages: | 150 |
| Tables, Charts & Figures: | 191 |
| Segments covered: | Product, Formulation, Application, Region |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Meeting and staying compliant with stringent environmental regulations, such as restrictions on volatile organic compounds (VOCs) and hazardous materials, can be challenging and costly. Fluctuations in the prices of raw materials, including petrochemical derivatives, solvents, and resins, can impact production costs and pricing strategies for coating additives. Disruptions in the supply chain, such as shortages of key raw materials or transportation issues, can impact manufacturing and delivery schedules. Thus, the risks associated with coating additives may drive down the acceptance rate, further hampering the business growth.
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Coating Additives Market Scope
