Paint Additives Market Segment Analysis – By End Use
Building & Construction segment held the largest share of more than 40% in the paint additives market in 2020. Architectural coatings are meant to protect and decorate the surface features. The growing uses of paint additives in the residential and commercial buildings to improve corrosion resistance, water resistance, thermal resistance, and abrasion resistance drive the market growth. The growth in the building and construction, highway, dams, and smart cities in the developing nations also contribute to the growth of architectural industry, which further propels the growth of paint additives market. The Oxford Economic has forecasted the volume of construction output will rise by 85% to $15.5 trillion globally by 2030, with China, the United States, and India together accounting for 57% of all global growth. Besides, improvements in the living standards of people and rapid urbanization also contribute to the growth of the architectural sector. This growth in the architectural segment further creates an opportunity to the growth of paint additives industries.