The growth of the construction repaint market is expected to grow USD 90 billion at a CAGR 6% during the forecast period. The construction repaint is used for industrial, commercial and residential applications. There are several types of construction repaint available. Some of the repaints include enamel, emulsions and varnishes. The use of this repaint is prevalent in maintenance, repair and renovation tasks. Due to the growth of various construction tasks, the demand for the market is surging. Various segments in this market are gaining huge traction.
There is the resin type that is one of the popular repaints available. Acrylic, polyethene, epoxy and polyester are some of the resin types that have a huge supply. The need for new constructions is driving the demand in the construction repaint market. Further, there are high construction activities across the globe. This raises the need for construction repaint for such constructions. Further, the rising disposable income is another driver of this market.
Due to this spending on repaint market is growing. Urbanisation is another crucial factor that influences the demand for construction repaint. Governmental initiatives and new housing developments will create growth prospects. The revenue of the construction repaint is expected to grow due to these reasons. Some factors will contribute to overall market value.
Study Objectives of Construction Repaint markets Market
Global Construction Repaint Market: Segmentation
Asia pacific is estimated to account for the largest share, in terms of value, of the construction repaint market. The region is expected to hold highest growth rate due to high demand from countries such as China and India. China is currently the largest market for construction repaint in the Asia-Pacific region, and is expected to remain by 2022. Moreover, increasing demand from the residential & non-residential sectors drives the construction repaint market in these countries.
Market Size of Global Construction Repaint Market by Regions (USD Billion)
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.
|Market Size||USD 90 billion|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||By Resin Type, By Application|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||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|
|Key Market Opportunities||Popularity of glass buildings acts as a barrier|
|Key Market Drivers||
The construction repaint market is predicted to grow at a 6% CAGR between 2022-2030.
The global construction repaint market is predicted to touch USD 90 billion by 2022.
Key players profiled in the construction repaint market report include The Valspar Corporation, The Sherwin-Williams Company, RPM International Inc., PPG Industries Inc., Nippon Paint Holdings Co., Ltd., Kansai Paint Co., Ltd., Jotun A/S, Joint Ventures, Axalta Coating Systems LLC, Asian Paints Ltd., and Akzonobel N.V.
Asia Pacific is predicted to lead the construction repaint market during the forecast period.
Notable players have adopted various strategies such as mergers, collaborations, acquisitions, joint ventures, R&D activities, and product innovations, to stay ahead in the construction repaint market.