Market Trends of Asia-Pacific Paints and Coatings Additives Industry
This section covers the major market trends shaping the APAC Paints & Coatings Additives Market according to our research experts:
Architectural Segment to Dominate the Market
- The architectural segment includes additives used in coatings for commercial purposes, such as office buildings, warehouses, retail convenience stores, shopping malls, and residential buildings.
- Some of the majorly used additives for architectural coatings include rheological modifiers, defoamers, dispersants, and wetting agents.
- In general, the additives used for architectural coatings help in enhancing surface properties, stabilizing pigment, enhancing wetting and dispersing properties and defoaming properties, etc.
- The increasing demand for decorative coatings in houses, for greater aesthetics, is estimated to boost the demand for paint and coating additives in architectural coatings at a significant rate in the next few years.
- Thus, the demand for paints and coatings is increasing, in turn having a direct impact on the additives market.
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China to Dominate the Market
- In the Asia-Pacific region, China is the largest economy, in terms of GDP. China is one of the fastest emerging economies and has become one of the biggest production houses in the world, today. The country’s manufacturing sector is one of the major contributors to the country’s economy.
- The continuous improvements in economic conditions in the region have enhanced the financial status of the consumers, in turn, boosting the demand for buildings and other infrastructural activities in the country.
- China’s 13th Five Year Plan started in 2016 as it was an important year for the country’s engineering, procurement, and construction (EPC) industry. In addition to this, the country ventured into new business models domestically and internationally, during the year.
- Moreover, restrictions on foreign investment on land development, high-end hotels, office buildings, international exhibition centers, and construction and operation of large theme parks have also been lifted.
- The growth in commercial and residential sectors is expected to boost the paints and coatings market in the country. Thus, driving the demand for paints and coatings additives during the forecast period.
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