Asia-Pacific Solvent Borne Coating Additives Market is Projected to Reach $2,226 Million by 2018, at a CAGR of 6.2%
19 Dec, 2014, 01:30 GMT
FORT WOTH, Texas, December 19, 2014 /PRNewswire/ --
Asia-Pacific Solvent Borne Coating Additives market was valued at $ 1,645 million in the year 2013, and is projected to reach $2,226 million by the end of the year 2018, at a CAGR of 6.2%. This market growth fuelled by the increase in demand from the construction and automotive paints sector
Browse through the TOC of Asia-Pacific Solvent Borne Coating Additives market for an in-depth analysis of the industry trends and segments, with help of various tables and figures.
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Solvent Borne Coating additives are used in paints and coating, and required by large number of industries including automotive, building and construction, industrial application and many others. This region leads the market, as it has the fastest growing economies, i.e. China and India, besides economies such as Thailand, South Korea and Malaysia are expected to be driven by the growing economic development.
Solvent Borne Coating additives are the key additives to increase wetting, prevent catering, and increase surface slip. Moreover, growth in this region for the market is driven by the end-user markets where coating additives are used extensively, owing to the ability to visually and chemically improve the performance of the coating.
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The construction sector recorded the largest revenue of $ 523.3 million in 2013, and it is estimated to reach $701.1 million by 2018, at a CAGR of 6.0% for the period under consideration. Also, the automotive paints sector leads the solvent market in terms of growth rate, bagging the highest CAGR of 6.5% for the period 2013-18. According to the estimation, India leads all the countries in the Asia-Pacific region in terms of market growth rate, with a CAGR of 7.7%, for the period 2013- 2018. China recorded the largest revenue of $883.89 million in the year 2013, followed by Japan.
Asia-pacific solvent borne coating and additives market covers applications such as construction, bedding & furniture, industrial applications, automotive paints and other applications.
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North America Solvent Borne Coating Additives Market was valued at $0.8 million in 2013 growing at 4.8% annually and is projected to reach $1.0 billion by the end of 2018. The U.S. recorded the highest revenue in 2013 with $605.1 million and it is estimated to reach $751.4 million by 2018 with a CAGR of 4.4% for the period under consideration in the North America Solvent Borne Coating Additives market.
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