[FURL=https://www.industryarc.com/Report/6352/Decorative-Coating-Additives-Market-Research-Report.html?utm_source=BriefingWire&utm_medium=PressRelease&utm_campaign=PaidPressRelease]Decorative Coating Additives Market[/FURL] is forecast to reach $8.3 billion by 2026, after growing at a CAGR of 5.2% during 2021-2026. The increase in the use of paints & coating in the building & construction industry for new construction or for the repair & maintenance work, which in turn will lead to an increased demand for decorative coating additives. Further, rising public and private investment in the construction sector is fueling the demand of decorative coating additives. In addition, the growing market for environmentally friendly products is driving new prospects in the forecast era for the development of the decorative coating additives industry.Impact of Covid-19
COVID-19 has exposed challenges for the decorative coating additives market by impacting the construction sectors. Each country across the globe are affected due to pandemic and resulted in a slowdown in the construction activities owing to which declination in revenue is expected in the year 2020.
Key Takeaways
High production prices, regulatory problems with volatile organic compounds (VOC), durability and the need for more eco-friendly products are the major reasons for rising the market demand for decorative coating additives leading to the innovation of different additives in this sector.
Increasing demand for decorative coating in homes, for greater aesthetics look, is expected to raise the demand for additives in decorative coating over the next few years at a substantial pace.
The investments by government are expected to improve the construction industry rapidly, further boosting coating consumption which resulted in increased demand of additives
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Decorative Coating Additives Market Drivers
Increasing demand for water-based paints & coatings from the construction industry
The rising demand from the building industry for water-based coatings serves as an incentive to expand the market for decorative coating additives. In the expected timeline, water-based coatings are anticipated to dominate the market. Environmental regulations have led to a drastic transition, especially in North America and Europe, from solvent-based to water-based materials for architectural and industrial applications.
Growth in the residential and the construction industry will drive the market
The residential construction industry with escalating renovation and new infrastructural projects are expected to enlarge the decorative coating additives business. Europe has experiencing strong growth in the construction industry after APAC.
Decorative Coating Additives Market are AkzoNobel, BASF, Sherwin-Williams, Dow Chemical, Eastman Chemical, DuPont, Encore Coatings, Dynea, PPG Industries, Nippon and among others
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