The Asia-Pacific Fluoropolymers Coating Additives Market is Estimated to Reach $864.29 million by 2018, at a CAGR of 8.52%
15 Dec, 2014, 00:30 GMT
FORT WORTH, Texas, December 15, 2014 /PRNewswire/ --
The Asia-Pacific Fluoropolymers Coating Additives Market is estimated to reach $864.29 million by 2018, at a CAGR of 8.52% from 2013 to 2018, due to the increasing demand of eco-friendly paint formulations. The Asia-Pacific Fluoropolymers Coating Additives Market report defines and segments this market in Asia-Pacific region with analysis and forecast of revenue.
Browse through the TOC of Asia-Pacific Fluoropolymers 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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The demand for environment-friendly products is increasing due to the growing environmental regulations and inclination towards eco-friendly products. The focus of consumers is now shifting towards cleaner and greener paint formulation materials. This growing requirement for biodegradable coating additives has created a demand, not only for water-borne formulation but also for coatings with reduced solvent content (decreasing from 75% to 25% or less). Hence, manufacturers are developing coating additives that diminishes the requirement of solvent or any VOC in the coatings formulation.
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Fluoropolymers-based coating additives are generally used in industrial applications, wherein the substrates are exposed to harsher environmental conditions. The favorable characteristics of fluoropolymer additives, such as high resistance to solvents, acids & bases, and most importantly, an ability to significantly reduce friction makes it a preferred solution for varied end-user applications.
The fluoropolymer coating additives are being used in smaller quantities, due to the growing concern over affordability of these materials because of its higher price range. China holds a greater market share in this region, and continues to contribute towards the progression of fluoropolymers coating additives market at a considerable rate, which is simultaneously followed by Japan, South Korea, and India. The demand for fluoropolymers coating additives in this region is majorly driven by the construction industry. The percentage share of the Asia-Pacific region for fluoropolymers additives was about 35% of the total global demand in 2013, which was the largest worldwide. Thus, increasing adoption of fluoropolymers among construction and automotive sectors, are considered as significant market drivers influencing the growth of the fluoropolymers coating additives market.
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The Global Fluoropolymer Coating Additives Market was valued at $1,082.35 million in 2013 and is expected to reach to $1,703.02 million by 2018, at a CAGR of 7.8% from 2013 to 2018. This growth is driven by the end-user sectors such as bedding & furniture and construction, where coating additives are extensively used owing to their ability to visually and chemically improve the performance of the coating
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