Major RD investments, expansion of production facilities, and rise in architectural development in the country has further boosted the sales of coating additives.

This has led to a profound, rapid transition and is supporting the growth of the coating additives market which is all set to witness an average annual growth of around 4 during the long-term forecast period of 2019-2029.

In the years to come, the use of green coatings is expected to be more popular within the automotive industry, which is helping the value-pool growth prospects of the coating additives market.

Regulatory bodies such as European Environment Agency (EEA) and the EPA (Environment Protection Agency) mandate limitation of volatile organic compounds (VOCs) content in coatings.

On 11 September 1998, The Environmental Protection Agency published the architectural coatings rule (63 FR 48848) under the authority of Section 183(e) of the Clean Air Act.

These innovations in turn would enable manufacturers to adapt to new regulatory dynamics.

Moreover, these innovations are likely to be application-specific which will further widen the customer pool in the coating additives market.

They are used to control flow viscosity, which is one of the most essential properties of coating compositions, and amend fundamental aspects such as storage stability, soft-texture, and film thicknesses.

The demand for rheology additives is on the rise as coating manufacturers are channelizing their focus towards improving the quality of their coatings.

A notable example would be to make coatings highly viscous, improve textural properties, and enhance shelf life.

Moreover, architectural coatings, a prominent application of coating additives, require rheology modifiers in coatings formulations due to the soaring demand for soft-texture coatings.

Governments in most countries are restricting the use of toxic and environment-degrading coatings.

With the enactment of stricter laws and regulations to curb air pollution caused due to hazardous emissions, conventional coatings are likely to be replaced soon by bio-based coatings.

Conforming to stringent environment regulations, coating additives manufacturers have started investing in development of bio-based and environment-friendly coating additives.

Furthermore, stringent government regulations for the development of eco-friendly and sustainable coating additives will continue to play a vital role in the coating additives market throughout the forecast period.

This has led manufacturers to invest heavily in developing volatile organic compounds (VOC) exempted, bio-based and multi-functional coating additives.

Furthermore, they are also entering into a long-term supply contracts with raw material suppliers and end-users to have a strong presence in the worldwide market.

Some of the current significant developments in the market include.

This expansion enables the company to serve consumers in the fast growing Asian markets.

This new product combines excellent substrate wetting agents with pronounced defoaming performance.

The company also launched Dispex Ultra PX 4290, a new high molecular weight dispersing agent, which opens up a plethora of opportunities in broad applications such as automotive OEM refinish coatings, industrial coatings, and wood coatings.

Currently East Asia holds a prominent share in the global coating additives market.

China, which strives towards self-sufficiency, has witnessed higher growth in the global coating additives market.

Byk Chemie Mexico