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.
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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.
Major companies are adopting various organic and inorganic growth strategies to sustain a better market position in the anti-skinning agent market. For instance, the company named Brochers has developed an oxime-free anti-skinning agent, which have anti-oxidant properties similar to oximes and phenols, and are non-hazardous substitutions for them. Oximes provide a major advantage of being oxygen scavengers are also toxic in nature. Some of the major companies operating in the Anti-Skinning Agents market are Borchers, Dura Chemicals, Gelest Inc., OMG Americas, Polyrheo Inc., GSFC Ltd., Arkema, and Troy Corporation.
Prevention Measures include proper sealing of paint pails, anti-skinning agents, straining paint through a nylon strainer, storage of paint in cool areas and replacing air by nitrogen in headspace of storage containers. The only disadvantage of using anti-skinning agents is the increase in drying time due to anti-oxidant property. Dosage should be carefully optimized to attain right level of anti-skinning activity and drying time.
Anti-Skinning Agents Market Taxonomy
On basis of type of agent used
Oximes; Butyraldoxime, 2-butanone ketoxime (methylethylketoxime (MEKO)), Cyclohexanone oxime
Phenols: Hydroquinone, 2,6-di-t-butyl-4-methoxyphenol (BHT), O-alkylphenol, Others, Solvents, Retention Aids
On basis of Application: Solvent Borne, SprayedIncorporation, Water Borne
On basis of End User: Printing InksIndustrial Woods, General Industrial, Decorative, Pigment Dispersions, Others, Composites, Automotive
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Anti-skinning agents are generally used as solvent borne coating, mainly in alkyd based paints. The increasing use of methylethylketoxime (MEKO) skinning agent in alkyd based paints used for printing inks, industrial wood, pigment dispersions, and general industrial end-uses to prevent skinning factor are fueling the growth of global anti-skinning agents market. Moreover, oximes and phenols are well-known as oxygen scavengers and largely helps in reducing oxidation rates. Hence, they are the primary constituent in most anti-skinning agents. MEKO is the most widely used anti-skinning agent and is added in very small proportions to the paint (0.5%). Retention aids prevent applied paint films from drying too quickly. Furthermore, solvents used as anti-skinning agents dissolves the components which form skins.
The growing demand for anti-skinning agents from printing inks industry is the major driver for the growth of anti-skinning market globally. The decorative end-use segment is the fastest growing segment in the anti-skinning agent market. The factors such as the growing GDP and rapid urbanization in Asia Pacific, primarily in China, and India creates a highly conducive environment for market growth. Due to which, the demand for new and improved infrastructure is increasing, enabling the growth of decorative paints, which in turn is fueling the anti-skinning agents market during the forecast period.