ANTI-SKINNING AGENTS MARKET ANALYSIS

Regional Analysis

Surging demand in Asia-Pacific Augmenting Market Growth

• Asia Pacific market is expected to grow at a rapid pace due to demand from the expansive construction industry, which in turn driving paints and anti-skinning agents market. The growing urbanization, rising paints and coatings industry, and rise in disposable incomes of the population are the major drivers for the burgeoning growth of anti-skinning agents in the Asia Pacific region. For instance, according to the India Paint Association, the paint industry in India is valued at US$ 7.6 billion in 2017 and is expected to grow to US$ 10.8 billion by 2020. Also, as per statistics released by India Brand Equity Foundation (IBEF)—a Trust established by the Department of Commerce, Ministry of Commerce and Industry, Government of India—the Indian government plans to invest US$ 376.53 billion in infrastructure development over the following three years.
• Growth in the developed world i.e. North America and Europe is dependent on the market of the construction industry. These markets are matured and growth is typically slow than in emerging markets. With increased environmental regulations in these countries new technologies and products are been developing at a rapid pace. Hence, allowing the anti-skinning agent market to grow at a descent rate.
• Latin America is experiencing mixed growth figures. Brazil is the largest market of anti-skinning agents in Latin America. However, Brazil has experienced a slight slowdown in construction industry, but the countries such as Colombia, Mexico, and Argentina have experienced moderate to rapid growth in construction activities, which in turn allowing the significant growth of anti-skinning agents market over the following years.