Construction Repaint Market Cost Analysis, Strategy and Growth Factor Report 2021 | Akzonobel N.V, Asian Paints Ltd.
Research Reports
Mar 22, 2022
Global Construction Repaint Market Scenario –
Market Research Future (MRFR) anticipates the construction repaint market to go beyond a stunning USD 90 billion by 2030-end. MRFR also confirms that the market size can likely expand at an approximate rate of 6% from 2021 to 2030 (evaluation period).
The rising focus on improving home decor as well as enhancing the aesthetic appeal of the commercial space in line with innovations in architectural structures and buildings have also been favorable. Growing preference for plastic emulsion paints with lower VOCs as well as odor could be a key opportunity for the companies in the construction repaint market.
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Construction Repaint Market – Eminent Firms:
The major player operating in the market of global construction repaint are Akzonobel N.V, Asian Paints Ltd. , Axalta Coating Systems LLC, Joint Ventures, Jotun A/S,Kansai Paint Co., Ltd., New Product Launches, Nippon Paint Holdings Co., Ltd.,PPG Industries Inc.,RPM International Inc., The Sherwin-Williams Company, and The Valspar Corporation.
Top Boosters and Impediments –
Soaring demand for durable and protective paints in upgradation of infrastructure and buildings can be a huge growth booster in the coming years. Surge in urbanization rate along with the escalating disposable income of the consumers also add to the market value.
Waterborne paints, out of all the formulations, witness strong demand in the construction repaint market, encouraged by regulatory bodies like the Environmental Protection Agency and National that aim to curb the emission of volatile organic compounds. High rates at which waterborne paints are sold should present significant opportunities to the market participants over the following years. Other factors fostering the market size can be frequent revisions in economic policies that aim to boost the lifespan of the existing buildings and other structures, which is quite likely to raise the market demand in the near future.
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Segment Study of Construction Repaint Market–
To offer extensive details of the construction repaint market, MRFR has profiled a few key segments, including resin and application.
Resin types that have been considered in the report are polyester, acrylic, epoxy and more. Acrylic paints will dominate the global market and will note the highest demand in the construction sector. These resin types are waterborne and are generally available as lacquers, emulsions (latex), powders and enamels. Acrylic resin types are easy to clean, inexpensive, and have low or no VOC content, which make them quite sought-after among end-users.
Residential and non-residential are the top applications of construction repaint. Non-residential applications can project the fastest growth in the construction repaint market. Surging investments in non-residential construction activities including buildings, infrastructure, urbanization, maintenance & repair works and city development drive the segmental growth.
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Regional Analysis –
The segmentation of the global Construction Repaint Market comprises regions like Asia-Pacific, North America, Europe, and Rest of the World.
Globally, Asia-Pacific bears the dominant position in the Construction Repaint Market both in relation to the volume and value. The market is expected to continue with its rise in the forthcoming years at the same rate. Due to reasons such as rapid industrialization, low cost attached to labor and raw materials, and the high manufacturing rate of Chlor-Alkali products, China is the major revenue generating nation in the Asia-Pacific region.
North America and Europe stand in the second and third position, respectively, owing to the low production level of Chlor-Alkali products as compared to other developing economies.
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