The paint and coating thickeners market is expected to witness a CAGR of 5.2% to reach $3.42 billion by 2023
Bangalore, India, January 11, 2019: With its recent published study “Paint and Coating Thickeners Market: Global Drivers, Restraints, Opportunities, Trends, and Forecast up to 2023”, Infoholic Research forecasts that the global market for paint and coating thickeners will continue to grow due to the growing construction activities, increasing demand from end users, and changing packaging aesthetics which are driving the paint and coating thickeners market growth. The market revenue will increase to $3.42 billion by 2023, growing at a CAGR of 5.2%.
Paint and coating thickeners are widely used owing to its various characteristics like they increase the viscosity without disrupting the other properties. Thickeners used in paints and coatings increases the paints or coatings efficiency making it more efficient and suitable for various uses.
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Building & construction end user segment is dominating the paint and coating thickeners market. The next major end user segment contributing towards the market is Transportation. Transportation largely uses thickeners in paints and coatings. The packaging segment is expected to grow rapidly with a high CAGR pushing the paint and coating thickeners market demand to grow during the forecast period.
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Water-based segment is contributing heavily towards the market. It is expected to grow at a CAGR of 5.5% during the forecast period. The major trend impacting the market positively is the increasing demand from end use sectors. Specifically, the increased demand from construction, packaging, and transportation in various geographies is accelerating the global paint and coating thickeners market.
“Technological development along with innovation is leading to come up with better thickeners utilized in paints and coatings with various new characteristics. For example, the utilization of thickeners in paints and coatings has led the paints and coatings to be used in various application owing to their consistency and efficiency. This in the coming years will positively impact the global paint and coating thickeners market.” said Vasundhara Singh, Research Associate, Infoholic Research.
Key insights of the report include
- Major types
- Water Based
- Solvent Based
- Key end-users
- Building and Construction
- Industry outlook: Market trends, drivers, restraints, and opportunities
Ms. Sunanda Ganguli
Infoholic Research LLP