MarketsandMarkets™ Study: How does Coronavirus (COVID-19) Impact Global Defoaming Coating Additives Market?
The global defoaming coating additives market is expected to reach USD 1,034.2 million by 2021, at a CAGR of 5.6% between 2016 and 2021. The key players in the defoaming coating additives market are Ashland Inc. (U.S.), BASF SE (Germany), BYK Additives & Instruments (Germany), Elementis Plc (U.K.), Evonik Industries AG (Germany), Momentive Performance Materials Inc. (U.S.), and Dow Corning Corporation (U.S.)., among others.
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Defoaming Coating additives are also called anti-foaming agents and are used in industrial process liquids to reduce the formation of foam. These are special additives that are added to paints and/or coatings to enhance their performance and quality. Defoaming coating additives reduce the formation of macro-foam on the surface and combat large air entrapments, thus enhancing the quality of finished products.
On the basis of defoamer type, the market is segmented into silicone-based defoamer, mineral oil-based defoamer, vegetable oil-based defoamer, water-based defoamer, polymer-based defoamer, and others. The water-based defoamer segment is expected to account for the second-largest share of the defoaming coating additives market. It is projected to be the fastest-growing type segment of the defoaming coating additives market between 2016 and 2021. They are very cost-effective with a considerable share of water in the final product through the final composition varies according to end-user requirements. These factors are driving the growth of the water-based defoamer segment.
On the basis of application, the market is segmented into architectural, industrial, automotive, wood & furniture, and others. Defoaming Coating additives are widely used across various manufacturing industries. Among the various application segments of defoaming coating additives, the automotive application segment is estimated to be the fastest-growing. The demand for defoaming coating additives in this application is also influenced by regulations that control the content of VOC in the formulations. High-quality coatings that are thermally stable and can withstand high temperatures will drive the demand for coating additives in automotive applications.
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Asia-Pacific held the largest share of the defoaming coating additives market in 2015, followed by North America and Europe. China and India were the key markets for defoaming coating additives in Asia-Pacific. High economic growth of the emerging economies and increasing disposable income of the people in the region make Asia-Pacific an attractive market for defoaming coating additives manufacturers. In addition, the extensive growth of industrial production and increasing vehicles’ production are also responsible for the high demand of defoaming coating additives in this region.
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