High-Performance Coating Additives Industry Thriving

The coating additives industry is set for a flourishing growth owing to increased demand for high-performance and low-VOC coatings in industrial and architectural applications.

The large-scale urbanization and industrialization in the world has ushered in an era of advanced infrastructures in recent times. The demand is for buildings that are durable and can withstand the test of time and sustain in extreme weather conditions. Coating additives that can aid in anti-foaming, wetting & dispersion, impact modifications, and rheology modifications have proven to be of vital essence to the painting and coatings industry. The coating additives industry’s growth is largely driven by the demands of end-user industries’ applications. Additives in paints and coatings help in the prevention of microbial damage and inhibit algae growth on structure surfaces, as well as enhance the performance of coatings.

The use of additives in coatings has proven efficient and safe over time, and the various technological advancements are a testimony to this fact. The heavy investments made in end-user industries have called for R&D projects that are dedicated to finding high-performance coatings. Moreover, the stringent government regulations have boosted the demand for low volatile compounds (VOC) -- coating additives that are safe and do not leave emissions in the air upon drying.

The industry promises a dynamic growth as a wide range of water-borne, powder, radiation curable, and solvent-less coatings flood the market and meet the demands of various industry verticals. According to expert analysts at Allied Market Research, the global coating additives market is expected to reach $11,020 million by 2022. This will be supported by a CAGR of 6.9% in the period 2016-2022, thus pointing towards a lucrative growth for the industry.

Coating Performances Set to Increase with Acrylic Latexes
The inclusion of additives in coatings is done to significantly improve the performance of the paints and coatings over the different surfaces on which they are used. Traditionally, the typical additives used in paints and coatings involved the use of petroleum-based monomers. The application of petroleum-based monomers poses a hassle in the long run due to depleting fossil fuel reserves, and the concerns about the environmental-friendly usage of additives. Moreover, monomers derived from petrol allowed only a low degree of grafting between the coating components, thereby limiting their full-fledged performance in many fields.

However, a recent study has found out that the production of acrylic/casein nanocomposites in coating additives is a good alternative to petroleum-based monomers. These nanocomposites, comprising of acrylic monomers and highly-methcrylate casein, are sourced from renewable sources and are easily synthesized. By allowing a controlled degree of grafting, the hybrid nanocomposites has proven to have a varied degree of functionalization, thus improving coating performance. It also has the potential as an emerging bio-based waterborne coating. Such advancements only point towards a rapid growth and endless potential of research projects in the coating additives industry.

Industry Players Venturing into Asia-Pacific Markets
The coating additives market is growing exponentially in the face of rapid industrialization. The key companies engaged in the market are looking at strengthening their presence across various regions of the world. The industry already has a robust presence in the North America and European region, owing to high investments by their developed economies in end-user industries. However, the Asia-Pacific markets pose a lucrative market scenario as an increasing number of developing nations are encouraging the key players to invest in manufacturing facilities for paint & coating additives. Industry players are venturing into markets of emerging economies to expand the scope of their operations.

For instance, Arkema, a French specialty chemicals giant, has decided to invest $15 million for setting up a new resin manufacturing facility in India. The first of its kind project is targeted for completion in 2018 and includes a new manufacturing unit aided by a dedicated new laboratory. The unit is expected to provide both application development and technical support. The powder resin produced in the unit is expected to cater to a wide range of architectural, industrial, and automotive applications. The move is in alignment with Arkema’s goal to expand its geographical presence in eco-friendly, low-VOC coating resins portfolio.

In the words of Richard Jenkins, global group president of the coating resins business, Arkema, “Offering increasingly environmental-friendly solutions with low-VOC (volatile organic compound) content, resins for powder coatings is an important and growing part of our product portfolio. This new facility will complement our existing manufacturing sites in Europe and North America, and underpins our commitment to meet our customers’ needs wherever they operate around the world.”

The global coating additives industry is thriving due to the various factors driving its growth. The various environmental concerns and government regulations restricting the use of high VOCs in coatings has pushed the demand for water-borne coatings. Compliance with regulations that advise the use of low VOCs has further given a real push to the coating additives industry. By promising to be chemical-resistant, water-resistant, flexible, and durable in the long run, these additives are proving a lucrative market for various companies. Major names, such as AkzoNobel N.V., BASF SE, Eastman Chemical Co., and The Dow Chemical Co. are expanding production lines and establishing their products to capture a large market size. Overall, the industry is marked to scale new heights in the immediate future.

Mufassira Fathima is a content writer at Allied Market Research. She holds a degree in business management and is a keen observer of the current market trends and developments of various industry verticals. She can be reached at [email protected].

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