The coating agents market is projected to grow at a CAGR of 6.55% from US$8.304 billion in 2025 to US$11.406 billion in 2030.
A coating agent is a chemical admixture applied to coatings to improve their wetting, dispersion, film formation, surface quality, and appearance properties of the films. It doesn't bond chemically within the coating film and must comply with environmental compatibility and harmlessness requirements.
Coating agents are substances applied to surfaces to enhance their properties, performance, and aesthetics. They are used in paints and finishing coatings for aesthetic purposes and protection, sealants that fill gaps to avoid moisture or air infiltration, and adhesive coatings that provide protective layers. Lubricant coatings reduce friction and improve wear resistance. Functional coatings provide specific benefits, such as anti-corrosion properties or UV resistance. Some very advanced options are nano-coatings that apply nanotechnology to create unique attributes, such as increased hardness or self-cleaning capabilities.
Increasing demand for coatings significantly influences the coating agents market’s growth. The higher demands for these coatings in all industries also trigger higher demands for raw materials and additives used in preparing these coatings. Subsequently, the consumption rate of coating agents also increases in the market, thereby triggering growth and revenue generation levels for coating agent manufacturers.
Coating agent manufacturers must constantly innovate and develop new products to meet emerging needs of coatings with special properties; hence, product diversity and the market scope are expanding. Growing demand might further raise prices, but it benefits coating agent manufacturers because the demand for coatings will also increase accordingly. Comprehensively, the demand for coatings is rising, encouraging increased consumption, product innovation, possible price hikes, and market expansion. The demand for powder and high-performance coatings for industrial applications also contributed to the growth. In December 2023, compared with December 2022, production in construction increased by 1.9% in the euro area and by 2.4% in the European Union.
| Report Metric | Details |
|---|---|
| Study Period | 2021 to 2031 |
| Historical Data | 2021 to 2024 |
| Base Year | 2025 |
| Forecast Period | 2026 – 2031 |
The automotive industry’s expansion accelerates the market growth of coating agents. Demand for coatings in various applications, including paints, primers, underbody coating, and protective films, increases with the increased demand for automobiles. This provides an opportunity that drives up the consumption of coating agents and opens opportunities for manufacturers of coating agents. Automotive industries are continually changing, with technological features and designs for different automobiles requiring new coatings with specific features.
According to the International Energy Agency, the global sales of electric buses and mediate and heavy-duty trucks in 2022 were estimated to be 66,000 and 60,000, respectively. These two segments comprised about 4.5% of total bus sales and 1.2% of total truck sales. Furthermore, China remains the world's leading manufacturer of electric (and fuel cell) vehicles and buses for sale. In 2022, 54,000 new electric buses and 52,000 electric medium- and heavy-duty trucks were sold in China, accounting for 18% and 4% of total sales in China and 80% and 85% of global sales, respectively. Additionally, it was stated that Chinese brands are market leaders in Latin America, North America, and Europe's bus and truck markets.
Enhanced emission and fuel efficiency have grown significantly, which has driven the development of new vehicle technologies, including electric and hybrid vehicles. The environmental standards for these vehicles necessitate specific coatings. Expanding markets for the automotive sector in developing economies also enhances the demand for coatings. Overall, growth has been noted for the general expansion of the automobile industry, thus requiring more consumption, product innovation, and markets.
Environmental regulations, cost of raw materials, competition, technological advancements, and regulatory compliance are some of the challenges, but the increased demand for coatings across various industries propels the market. Coating agent manufacturers need to innovate, go green, and maintain their cost-effective production to overcome these challenges.
By geography, the coating agents market is segmented into North America, South America, Europe, the Middle East and Africa, and Asia Pacific.
Asia-Pacific is expanding at a rapid pace due to the significance of industrialization and economic growth in China and India.
For instance, China has taken the largest market globally for automobiles by car sale and is expected to bring local production of automobiles to 35 million units in 2025.
Similarly, in April 2024, the total production of passenger cars, three-wheelers, two-wheelers, and quadricycles was 23,58,041. According to the India Brand Equity Fund, passenger cars, CVs, three-wheelers, two-wheelers, and quadricycles produced in the fiscal year 2024 made up a total of 2,84,34,742.
North America, especially the United States, is also an important market for coating agents, considering diversified industries and research capabilities. Europe, in terms of Germany and France, is crucial for the market, focused on advanced materials and sustainable technologies. Other emerging markets, like Brazil, Russia, and Mexico, are also being driven by growing economies and accelerated industrialization. In general, the coating agents market is characterized by a shift towards Asia-Pacific, with North America and Europe still playing important roles.
The market leaders for the coating agents market are BASF SE, DIC Corporation, and Lubrizol, among others. These key players implement growth strategies such as product launches, mergers, acquisitions, etc., to gain a competitive advantage. For Instance,
| Report Metric | Details |
| Coating Agents Market Size in 2025 | US$8.304 billion |
| Coating Agents Market Size in 2030 | US$11.406 billion |
| Growth Rate | CAGR of 6.55% |
| Study Period | 2020 to 2030 |
| Historical Data | 2020 to 2023 |
| Base Year | 2024 |
| Forecast Period | 2025 – 2030 |
| Forecast Unit (Value) | USD Billion |
| Segmentation |
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| Geographical Segmentation | North America, South America, Europe, Middle East and Africa, Asia Pacific |
| List of Major Companies in Coating Agents Market |
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| Customization Scope | Free report customization with purchase |