A few basic components called additives are added to paints or coatings to improve their qualities. Paint Additives market segments are created based on kind and application. The market is divided into many categories according to type, including biocides, dispersants and wetting agents, defamers and deaerators, rheology modifiers, surface modifiers, stabilizers, flow and leveling additives, and other types. The market is divided into architectural, wood, transportation, protective, and other applications based on the use.
The market for paint additives is anticipated to reach $10.5 billion by 2026, expanding at a CAGR of 5.8% from 2021 to 2026. To improve the performance, effectiveness, and usefulness of paint, additives are employed to address flaws like the foaming. The need for paints and coatings is being driven by the expansion of the building industry and the growing population, which is also boosting the market for paint additives.
However, the market is also developing as a result of the expanding transportation industry. The usage of additives as a coating on passenger and container ships to protect them from the harsh environment at sea is projected to propel market expansion. Additionally, the compounds found in solvent-based paints offer an industrial machine a protective coating that shields it from moisture, chemicals, and erosion. This lengthens the equipment's life and lowers the manufacturer's maintenance costs. This will increase the demand for paint additives even more during the anticipated term.
Some of the essential raw materials needed to produce goods like rheology modifiers, biocides, anti-foamers, and wetting and dispersion agents—all of which are utilized as paint additives—include polyester, epoxies, and aluminum stearate. The architectural, industrial, wood and furniture, and automotive industries all employ these chemicals in a variety of applications.