Allied Analytics: According to a report published by Allied Market Research, the automotive paint additives market is expected to reach $5.63 billion by 2026, supporting with a CAGR of 7.0% by 2026. An increase in automobile production is expected to boost the growth of the market. On the other hand, the rise in demand for eco-friendly and innovative automotive paints is facilitating the development of the market. Furthermore, the production of eco-friendly and cost-effective automotive paints creates a lucrative growth opportunity for the key market players in the global market.
Additives perform the functions to enhance the appearance of the automotive, stability of coating and flow of paints. In addition, it provides adequate viscosity, when added to the paint to maintain its thickness and to apply properly. The functions performed by these additives have offered the coatings to finish with an absolute touch of perfectness. Moreover, the automotive, as well as coatings and additives industries, are marching towards some eco-friendly solutions for both additives and coatings. Waterborne paints, silicon technology based paints and other such eco-friendly solutions have arrived in the market. The market, on the other hand, is expanding with the growing world of automotive.
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Other than the model of the vehicle, what a customer seeks for is its color. The Color and gloss applied to the automotive make its appearance to be more fascinating. Other than this, second most essential feature of the painting is to prolong the lifespan of the automotive by protecting it against corrosion. But, a proper finishing look requires solving several problems such as orange peel, mottling, solvent pop, color variation, and more. However, all these problems can be solved by using proper additives.
Automotive paint additives can eliminate the flaws and defects along with offering additional characteristics to the coating. Additives are the special constituents of paint. Using it in a proper amount and small quantities can lead to improving the characteristics and qualities of the paint. A right proportion of additives in a paint can also enhance the look of the automotive, and increase the durability of the coating along with the flow of paints. Additives are useful to break the bubbles formed in the paint during preparing it to apply. Furthermore, using additives can also improve manufacture and storage of the automotive.
Presently, there is a variety of additives including deformers, emulsifiers, effluent treatment additives, wetting dispersing agents, specialty additive, pigments, defoamers, curing catalysts, and more. Moreover, other than providing specific properties, these low-level ingredients are added in the paint for multiple purposes. Lets dive in some of these reasons:
Texture: Various paint products when added with fine aggregates, and granular powder, provides a textured look. However, to increase the durability and minimize minor imperfection, texture additives are used. This also enhances the appearance of automotive making it more attractive.
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Flow Levelling: These are among the most important agents. While preparing the mixture, several defects occur in the film including fisheyes, and orange peel. These additives are used to level up the paints properties without making it inappropriate. It helps to increase the flowing capacity of the paint. Furthermore, owing to the additives, several modern paints pose rapid drying property, which eliminates the brush marks, as well as the flow of paint on other surfaces.
Gloss: The improvement in flow and leveling results to enhance the gloss as well. Using additives to increase the flow and leveling with greater refractive indices can offer improved gloss.
Anti-corrosive: These automotive paint additives are used in almost every automotive to prevent corrosion, and protect the surface.
Anti-settling agents: These additives are combined with automotive paints to prevent pigments as well as other solid particles from settling. It also maintains a proper viscosity of the formulation.
Wetting agents: This additive is a solution for scenarios like overcoating. Using these additives in the fresh liquid coating would act as a wetting agent for the already dried up paint on the automotive.
Key Findings of the Study:
On the basis of type, the flow enhancers segment is anticipated to exhibit a remarkable growth during the forecast period.
On the basis of application, the automotive decorative paint segment is a highest contributor in 2018, in terms of revenue.
Region wise, Asia-Pacific is the fastest growing region, followed by Europe, North America, and LAMEA.
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The growth of the automotive sector has positively impacted the automotive paint additives industry. On the other hand, the rise in preference towards environmentally friendly paints over traditional paints has advanced the market growth, as eco-friendly paints are waterborne whereas traditional paints are solvent-borne. The solvent-borne paints contain products based on petrochemicals which comprise volatile organic compounds (VOCs). These VOCs are harmful to nature as it contains several chemicals that may affect for a longer time. On the other hand, the waterborne paints are altered by using water, which decreases the quantity of VOCs in it. The reduced effect of waterborne paints on nature leads to an increase in demand for more eco-friendly paints. This eventually impacts positively on the growth of the market.
Similar Reports We Have on Automotive Paints Additives:
Automotive Paint Additives Market: Key players including BASF SE, PPG, Akzo Nobel N.V, Eastman Chemical Company, LLC, The Sherwin-Williams, Kansai Paint Co., Ltd, Nippon Paint Holdings Co., Ltd., DuPont, Clariant, Solvay, and others holds major share of automotive paint additives market.
Paints and Coatings Market: Some of the main market players operating in the global paints and coatings market are BASF SE, Akzonobel N.V., PPG Industries, RPM International Inc., The Sherwin-Williams Company, The Valspar Corporation, Axalta Coating Systems LLC, Nippon Paint Co. Ltd., Kansai Paint Co. Ltd., Tikkurila OYJ, and Berger Paints India Ltd.
Automotive OEM Coatings Market: The other players in the automotive OEM coatings market value chain (profiles not included in the report) include Beckers Group, Cabot Corporation, Berger Paints, Eastman Chemical Company, Valspar Corporation, Clariant AG, Deft, Inc., Jotun A/S, Royal DSM, Lord Corporation, and Solvay S.A. among others.
Waterborne Coatings Market: The waterborne coatings application market is segmented into appliances, automotive, architectural, marine, packaging, wood, general industrial, and others.
Powder Coatings Market: Market size is expected to garner $15.0 billion by 2026, registering a CAGR of 5.4% during the forecast period 2019-2026.
Automotive Refinish Coatings Market: The market for automotive refinish coatings witnessed a significant growth due to various strategies adopted by the key market players.
Authors Bio: Akshita Pacholi
Akshita Pacholi is a content writer and researcher at Allied Market Research. She holds a Masters Degree in English Literature and has a passion for new and developing technologies.
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