The global waterborne coating additives market is expected
to reach USD 4.11 billion by 2022, according to a new report by Grand View
Research, Inc. High rate of commercialization of waterborne coatings on account
of growing consumer preference towards low toxicity and VOC content may be
attributed for high growth.
Advancements in formulation techniques along with
increasing requirement for multi-functional additives are also expected to fuel
their demand over next seven years. Waterborne coatings have penetrated
approximately 90% in architectural segment in mature markets of North America
and Europe as a drop-in substitute to petroleum derived solvent borne
counterparts.
Rheology
modifiers were the leading product segment and accounted for over 40% of total
market volume in 2014. These additives tend to lower the surface tension of the
formulation which improves color acceptance, film quality, and wet abrasion
resistance. Additionally, they help to control several rheological properties
including brushability, in-can stability, sagging and film building. The
product segment is also anticipated to witness the fastest growth of over 6%
from 2015 to 2022.
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Further key findings from the study suggest:
- Global waterborne coating additives market demand was 522.8 kilo tons in 2014 and is expected to reach 801.0 kilo tons by 2022, growing at a CAGR of 5.5% from 2015 to 2022.
- Global wetting & dispersion agents market size was estimated to be over 150 kilo tons in 2014 and is expected to witness significant growth over the forecast period. High requirement for preventing reflocculation of the dispersed particles in architectural and industrial wood coatings is expected to drive this segment over the forecast period.
- Hydroxyl ethyl cellulose (HEC) was the most preferred rheology modifier for waterborne formulations and accounted for over 28% of the total volume share in 2014. Hydrophobically modified HEC (HMHEC) is expected to be the fastest growing rheology modifier and is estimated to grow at a CAGR of 7.5% in terms of value over next seven years.
- Europe emerged as the leading consumer with a demand share exceeding 40% in 2014 and is anticipated to witness average growth over next seven years. Large production base of waterborne coatings along with early commercialization of the finished products in countries such as UK, Germany, France and Italy may be attributed for high penetration in the region.
- Asia Pacific is estimated to witness the fastest growth both in terms of demand and value. The regional market is estimated to exceed USD 1.3 billion by 2022. Growing architectural coatings requirement in the region owing to increasing infrastructure spending in India, Vietnam, Indonesia, Malaysia and China may be attributed for high market growth.
- Major companies operating in global industry include AkzoNobel, Allnex, BASF, Belami Fine Chemicals, Byk, Evonik, Falcon Technologies, Harmony Additive, KaMin LLC, Lubrizol Advanced Materials, Taminco.
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About
Grand View Research:
Grand View Research, Inc. is a U.S.
based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, we offer market intelligence studies
ensuring relevant and fact-based research across a range of industries, from
technology to chemicals, materials and healthcare.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519
Email:
sales@grandviewresearch.com
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