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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
North America Coating Additives Market Outlook
The North America coating additives market size was valued at USD 3.18 billion in 2023. The market is further projected to grow at a CAGR of 4.2% between 2024 and 2032, reaching a value of USD 4.61 billion by 2032.
Key Takeaways
- In July 2023, construction spending expanded by 5.5% on a year-on-year basis in the United States of America.
- In 2021, the United States’ paint and coatings market employed 306,000 workers.
According to the North America coating additives market analysis, a shortage of houses on the market in the United States is prompting the demand for single-family housing projects. The country’s infrastructural sector is also receiving robust governmental support, which aids the demand for additives in coatings. For instance, in January 2024, the government announced over USD 4.9 billion in funding to 37 projects through two major grant programs, the Infrastructure for Rebuilding America (INFRA) grant program and the National Infrastructure Project Assistance (Mega) grant program.
Additionally, the demand for sustainable coatings is rising in the market as the region focusses on reducing the carbon footprint of its construction sector, thus impacting the North America coatings additives market growth. These paints have low VOC and high bio-content. Paint producers are capitalising on this trend by offering these products to contractors and manufacturers who want to improve the sustainability credits for their projects. The use of organic rheology modifiers is free of VOCs and can be easily added to solventless and VOC-compliant solvent-based systems. These are derived from renewable, bio-based materials, like castor, and can increase the sustainability of paints and coating. Rheology modifiers are crucial additives in coating formulations, controlling their stability, application properties, and sag resistance.
Market Segmentation
North America Coating Additives Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments.
Market Breakup by Product Type
- Defoamers
- Wetting and Dispersing Agents
- Rheology Modifiers
- Others
Market Breakup by Formulation
- Water-borne
- Solvent-borne
- Others
Market Breakup by Application
- Architectural Coatings
- Can and Coil Coatings
- General Industrial Coatings
- Automotive and Transportation Coatings
- Wood and Furniture Coatings
- Others
Market Breakup by Country
- United States of America
- Canada
Competitive Landscape
The key players in the coating additives market in North America are producing high-quality coating additives to enhance the quality of coatings to stay ahead in the market.
- Dow Inc.
- Eastman Chemical Company
- Ashland Inc.
- The Lubrizol Corporation
- Evonik Industries AG
- BASF SE
- Nouryon Chemicals Holding B.V.
- Clariant Ltd
- Arkema SA
- Atlanta AG
- Others
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Type |
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| Breakup by Formulation |
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| Breakup by Application |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the market reached an approximate value of USD 3.18 billion.
The market is expected to grow at a CAGR of 4.2% between 2024 and 2032.
The coating additives market in North America is estimated to witness healthy growth in the forecast period of 2024-2032 to reach USD 4.61 billion by 2032.
Additives comprise emulsifiers, deformers, wetting and dispersing agents, speciality additives, anti-setting agents, and effluent treatment additives. These additives enhance the coating’s value.
A crucial function of the industrial coating is to protect surfaces it is applied on, such as timber, concrete, and leather from external damage.
The major drivers of the market include rising infrastructural construction, rising demand for sustainable coatings, and the need to build new houses to meet consumers' housing needs.
Key trends aiding market expansion demand for bio-based and organic ingredients, rising investments in the construction sector, and the need to develop high-quality coatings.
Major countries in the market are the United States of America and Canada.
The common types of coating additives are defoamers, wetting and dispersing agents, rheology modifiers, and others.
Key players in the market are Dow Inc., Eastman Chemical Company, Ashland Inc., The Lubrizol Corporation, Evonik Industries AG, BASF SE, Nouryon Chemicals Holding B.V., Clariant Ltd, Arkema SA, and Atlanta AG, among others.
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