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Construction Repaint Market By Resin Type (Acrylic, Alkyd, Epoxy, Polyurethane, Polyester, And Others), Formulation (Solvent-Borne, Waterborne), Application (Residential, Non-Residential), By Region - Global Industry Analysis, Size, Share, Growth, Investment & Forecast Report (2023-2028)

Published: March, 2023
ID: 8128
Pages: 175
Formats: report pdf report excel report power bi report ppt

Construction Repaint Market Size (2023-2028):

Construction Repaint Market was valued at 50 billion in 2022 and is expected to grow at a compound annual growth rate of 10.1% in the forecast period of 2023-2028

Drivers and Restraints of the Construction Repaint Market:

Acrylic paints are the largest growing resin type in the construction repaints market. They are waterborne and are available in various forms such as emulsions (latex), lacquers, enamels, and powders. Also, they are economical, easy to clean, and have low VOC content or are VOC-free which drives demand for acrylic paints, promoting growth in the global construction repaint market.

The product is used in various areas that require activities such as roofing, decoration in buildings, etc. Also, they offer resistance against natural phenomena such as corrosion to internal structural supports, resulting from unwanted water inflow. As a consequence, Concrete repair mortar prevents the degradation of the structure, thus extending its lifespan. In addition to this, this material has excellent bond strength that results in the increased structural strength of the buildings. All these aspects play a crucial role in the development of the construction repaint business around the world.

Significant investment in infrastructure development and residential projects owing to the freedom of investment regulations is another factor contributing to the developments in the construction industry. This, in turn, will increase the demand for construction repaints. Another factor greatly influencing the construction repaints business demand is the rising popularity of green building initiatives in different parts of the globe.

Opportunities in the Construction Repaint Market

The construction industry is growing rapidly, and this growth is expected to be maintained during the projection period between 2020 and 2025. The application of repair mortar products has also gained popularity in the construction industry. These materials are available at a comparatively low cost when compared with other materials for fixation activities.

Bio-based and hybrid paints are considered eco-friendly and with the current stringent regulations regarding the environment, it is a wonderful opportunity for the construction repaint market to reinforce its position in the bio-paint industry.

CONSTRUCTION REPAINT MARKET REPORT COVERAGE:

REPORT METRIC

DETAILS

Market Size Available

2022-2028

Base Year

2022

Forecast Period

2023-2028

CAGR

10.1%

Segments Covered

  • On the basis of Resin Type
  • On the basis of Formulation
  • On the basis of the Application
  • By Region

Various Analyses Covered

Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities

Regions Covered

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

Market Leaders Profiled

AkzoNobel N.V (Netherlands), Asian Paints Ltd. (India), Axalta Coating Systems LLC (U.S.), Jotun A/S (Norway), Kansai Paint Co., Ltd. (Japan), Nippon Paint Holdings Co., Ltd. (Japan), PPG Industries Inc. (U.S.), RPM International Inc. (U.S.), The Sherwin-Williams Company (U.S.), Muise Mergers & Acquisitions (Canada)

Market segmentation

On the basis of Resin Type:

  • Acrylic

  • Polyurethane

  • Alkyd

  • Polyester

  • Epoxy

Among the different resin types, acrylic paints are calculated to be the largest-growing resin type in the construction repaint market. The wide range of applications of acrylic resin such as emulsions (latex), lacquers, enamels, and powers is the main reason for this segment’s flourishing growth. Also, the low cost, ease to clean, and low VOC content of acrylic paints add to the growth of acrylic paint in the construction repaint market.

On the basis of Formulation:

  • Water-Borne

  • Solvent Borne.

Of the two types of formulations, waterborne paints are projected to have the highest market value. Waterborne paints are the largest revenue generators to the global construction repaint market.

On the basis of the Application:

  • Non-Residential

  • Residential.

Nonresidential construction is anticipated to have the highest growth rate when compared to residential construction. The increased number of constructions in the non-residential sector under the name of city development, urbanization, and maintenance & repair boost the non-residential repaint market.

On the basis of Region:

  • North America 

  • Europe 

  • Asia Pacific 

  • Latin America 

  • The Middle East and Africa

North America is foreseen to witness considerable growth owing to expanding industrial sector as a result of growing investments in the construction of liquefied natural gas terminals in the Gulf Coast region, as well as growth in new power plants. Industrialization and urbanization in countries, such as the U.S. and Canada, are creating demand for solar control repaint in industries such as construction and buildings and in the commercial sector. In addition to this, the rising focus on mitigating UV and infrared emissions, carbon footprints, and increasing safety in terms of theft and robbery are the key factors driving the market boom in this locale.

Construction Repaint Market Key Players:

Major companies playing their trade in the Construction Repaint Market include AkzoNobel N.V (Netherlands), Asian Paints Ltd. (India), Axalta Coating Systems LLC (U.S.), Jotun A/S (Norway),Kansai Paint Co., Ltd. (Japan), Nippon Paint Holdings Co., Ltd. (Japan), PPG Industries Inc. (U.S.), RPM International Inc. (U.S.), The Sherwin-Williams Company (U.S.), Muise Mergers & Acquisitions (Canada), and The Valspar Corporation (U.S.) are the leading shareholders of the Global Construction Repaint market. These companies are currently focused on expansion strategies to improve their market value and position.

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