Coating Additives Market To Reach USD 12.74 Billion By 2027 | Reports and Data
The growth of the market is driven by the increase in demand from emerging markets for conformal coatings and high demand in the automotive & transport and electronics industries.
New York, Aug. 10, 2020 (GLOBE NEWSWIRE) -- The Global is forecast to reach USD 12.74 Billion by 2027, according to a new report by Reports and Data. This can be mainly associated with the increase in demand owing to its properties such as durability, scratch resistance, and glossy look, which are influencing the market growth. Growing popularity among end-users, especially automotive, shipbuilding, and pipeline industries, will also encourage the growth of the market.
The implementation of stringent regulations across several countries, regarding green and solvent-free coating technologies, will lead to a reduced amount of VOC emissions. This will boost the demand for coating additive worldwide. Ongoing research and development efforts and analysis of trends are enabling the research team to improve paint performance and create innovations that stand out in the marketplace. From better hiding, enhanced durability, and stain resistance to low- to no-VOC coatings with reduced environmental impact, binders and additives are increasing performance to meet and exceed end-user demands for coatings.
Factors such as the increase in the price of raw material and their volatility is anticipated to hinder the growth of the market. Furthermore, the raw material industry of the coating additive market is on the verge of consolidation that improves the bargaining power of suppliers and impacts the market growth negatively.
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