The Latin America, Middle East and Africa Coating Additives Market would witness market growth of 7.0% CAGR during the forecast period (2021-2027).
Coating additives have also become more popular in the automobile industry, owing to their superior efficacy in extending the life of a vehicle's external paintwork. Meanwhile, coating additives are used in the production of wood and furniture, aviation, and industrial engineering, etc. Environmentalists and regulatory organizations, on the other hand, are constantly scrutinizing most coating additives because of growing worries about dangerous VOC effects.
The use of various types of coating additives has increased significantly in the building and construction industry as a result of the expanding need for high-quality painting materials for buildings. Coating additives would observe a tremendous expansion in ornamental paints and advanced aircraft coatings in the next years. Coating additives are increasingly being used to paint the exteriors of business and residential structures.
The adoption of urbanization across South Africa is increasing. This factor is responsible for the emergence of new market players in the country as well as the traction of prevailing market players toward the region. Moreover, the increasing adoption of best-in-class products across the country is also attracting key market players across the world to invest in the market across South Africa. These factors are driving the development of the coating additives market across LAMEA.
The Brazil market dominated the LAMEA Coating Additives Market by Country 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $206.1 million by 2027. The Argentina market would exhibit a CAGR of 7.6% during (2021 - 2027). Additionally, The UAE market is anticipated to grow a CAGR of 6.7% during (2021 - 2027).
Based on Type, the market is segmented into Acrylic, Fluoropolymers, Urethanes, Metallic Additives, and Others. Based on Formulation, the market is segmented into Water-borne Coating, Solvent-borne Coating, Solventless Coating, Powder Coating, and Radiation Curable Coating. Based on End Use, the market is segmented into Architectural, Automotive, Industrial, Wood & Furniture, and Others. Based on Function, the market is segmented into Rheology Modification, Anti-foaming, Wetting & Dispersion, Biocides, Impact Modification, and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Global Coating Additives Market is Predict to reach $11.8 Billion by 2027, at a CAGR of 4.8%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Akzo Nobel N.V., The Dow Chemical Company, BASF SE, Arkema S.A., Evonik Industries AG (RAG-Stiftung), Momentive Performance Materials, Inc., Lanxess AG, Eastman Chemical Company, Clariant AG, and Elementis PLC.
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