Shambhu Nath Jha, Research Head- Chemical & Materials Domain at Fact.MR discusses various trends and events determining growth of coating additives demand
Global demand for coating additives is gaining tailwinds from paradigm shift from solvent-based additives to aqueous additives. Burgeoning demand from diverse application verticals such as construction, automotive, furniture, and many other industrial applications is expected to spur sales of coating additives over the forthcoming years.
The importance of multifunctional additives offering optimal efficiency is on an unparalleled rise, thereby auguring well for growth of coating additives market. Companies involved in manufacturing of coating additives are vying to scale in terms of quality offerings integrated with latest technologies. Rising investments in R&D to develop bio-based products that align well with the sustainability initiatives are poised to yield multiple opportunities to the manufacturing companies during the assessment period.
Q. What impact will Brexit, impending withdrawal of the UK from the European Union, have on the growth of European coatings market?
Post a thriving economy in 2017, the first signs of a downturn in the European economy become highly evident in 2018 and 2019. This situation could be further worsened by Brexit, which will have far-reaching repercussions on the EU trading partners across Northern Europe. The economy of EU is highly inter-dependable and any event like Brexit is likely to have entrenched reverberations across Europe, primarily in a broadly-based sector such as coatings. This, in turn, is also likely to have significant influences on the demand for coating additives.
Q. What are the consumer trends empowering demand for coating additives in the European industrial coatings space?
The European industrial coatings market is witnessing sky-high demand for unmatched performance, sustainability, and efficiency. In line with the aforementioned, innovation remains the key to bring in product differentiation. Bio-based, environmentally-responsible, enhanced durability, unparalleled ease of handling, and high versatility are some of the key areas with the potential to trigger consumer confidence. To meet all of these specifications, use of coating additives has significantly taken off in the paints and coatings industry.
Q. Will skyrocketing demand for waterborne coatings in Europe give a fillip to sales of coating additives?
The European waterborne coating additives market is growing at a healthy spike, owing to regulations of the EU member countries to control APEO and VOC content in case of formulations. With ecological risk from solvents taking its toll, visibility of waterborne coating systems is reportedly increasing and is creating a pool of opportunities for adoption of waterborne coating additives
Q. What adverse impact does the volatility of raw material prices have on European coating additives space?
Volatility in raw material prices remains one of the key growth deterrents in the European coating additives space. As the raw materials involved in manufacturing process of coating additives are crude oil derivatives, any fluctuation in price of crude oil will affect raw material prices in the coating additives market landscape. This, in turn, will pose major challenges for the manufacturers in terms of profit-margins gains.
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