Exploring the Different Types of Coating Additives in the Market and its Growth Drivers

As the name suggests, coating additives are substances added to industrial coatings to impart certain special properties. Coating additives help in improving the adhesive properties of the coatings and also enhance the appearance. Also, some additives help in protecting the industrial coatings from externalities such as UV radiation, dust, corrosion, and abrasion. Thus, not only appearance and adhesion, but coating additives also improve the performance and durability of industrial coatings.

Types of coating additives in the market

While applying a coating to any equipment, two things are taken into account- the type of equipment and the function it serves. Accordingly, to suit the different types of equipment, different types of industrial coatings have come up in the market. Consequently, the coating additives industry has also seen the emergence of several types of additives to improve the quality of industrial coatings. The most commonly used additive is for protective and maintenance coatings. These coatings are generally applied to heavy machinery and massive infrastructure components like steel beams, windmills, offshore oilrigs, etc. Naturally, the additives added to these coatings serve the dual purpose of performance enhancement and protection.

Coil and can coating additives are other types of additives which are regularly mixed with industrial coatings. Coil and can coatings are usually applied to metal sheets, coils, cans, and original electronic components and parts. Since these materials and components are continuously used, additives which can prevent corrosion and abrasion are added to these coatings. One of the latest coating additives to be launched is the one added to marine coatings. Marine coatings are specifically used for different types of vessels and ships. Since these coatings regularly come in contact with water, additives are added to increase the durability of coatings, thereby increasing the life of the vessels.

Future growth opportunities for the market

The rapid pace and the huge scale of urbanization across the world has led to expansion in the global construction industry. This has led to a massive rise in the demand for coatings and coating additives, thus helping the market to grow. The report published by Allied Market Research highlights this aspect and predicts that this growth driver will help the coating additives market to grow at a healthy CAGR of 5.7% in the 2023-2032 timeframe. Additionally, increasing demand for automobiles and aircraft from all around the globe will further help the market to surge ahead.

A rather new development for the coating and additives industry is the environmental regulations that are put in place by various governments to check the pollution caused by chemicals in coatings and additives. Hence, companies are rolling out new products which comply with these environmental safety standards. Such product launches have increased the acceptance regarding the use of coating additives and thus lent a helping hand to the growth of the market. For instance, in May 2023, Gerdau Graphene, a graphene-based solutions provider, announced the launch of NanoDUR and NanoLAV. Both NanoDUR and NanoLAV are graphene-based additives for coatings and paints. The company has claimed that these two coating additives do not alter pH levels in any way and hence have minimal environmental impact, making them a sustainable option.

To conclude, the coating additives market is expected to experience a huge growth due to rising construction activities and the expanding automobile sector. Furthermore, the launch of environmentally sustainable products will create massive growth opportunities for the market in the coming period.

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