Construction Repaint Market Size Expected to Reach USD 81.2 Billion with CAGR of 5.7% by 2027 – IndustryARC

Construction Repaint Market

Market Research Reports, Business Consulting Services & Analytics

Increasing Activities of Maintenance, Remodelling, Renovation, And Repair Is Driving the Construction Repaint Market Growth

HYDERABAD, TELANGANA, INDIA, December 8, 2022 /EINPresswire.com/ -- IndustryARC, in its latest report, predicts that Construction Repaint Market size is forecast to reach US$81.2 billion by 2027 after growing at a CAGR of 5.7% during 2022-2027. Rising urbanization, infrastructural development, and growth in construction activities are driving the market for construction repaint. Construction repaints such as acrylic paint, alkyd paint, epoxy paint, are utilized for painting buildings or similar structures. They are used for residential, commercial, and industrial repaint purposes, having UV resistance, and low volatile organic compounds (VOCs) content. Moreover, the aging of old buildings and paint damages are also increasing the growth of the construction repaint market. The report offers a complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.

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https://www.industryarc.com/Research/Construction-Repaint-Market-Research-505550


Key takeaways:

This IndustryARC report on the Construction Repaint Market highlights the following areas -

1. The Asia Pacific dominates the construction repaint market owing to the rising growth and increasing investments in the construction industry. For instance, according to the World Bank, in 2020, the building and construction industry reached about US$ 11.9 trillion, with an increase of about 4.2% from 2019.

2. The rising demand for construction repaint due to growth in infrastructural development, has been a critical factor driving the growth of the construction repaint market in the upcoming years.

3. However, introduction of durable paints can hinder the growth of the construction repaint market.


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Segmental Analysis:

1. The acrylic resin segment held the largest share in the construction repaint market in 2021. Acrylic paint is waterborne and is used in emulsions, enamels, powders, and lacquers. Acrylic paint is easy to clean, durable, have UV resistance, low volatile organic compounds (VOCs) content, is inexpensive, and is VOC-free, as compared to other resins.

2. Asia-Pacific region dominated the construction repaint market with a share of 43% in the year 2021. The Asia Pacific region is predicted to continue its dominance in the market during the forecast period due to the increasing requirement for construction repaint in developing countries such as China, Japan, India, and South Korea.

3. The waterborne paints segment held the largest share in the construction repaint market in 2021. Regulations passed by regulatory bodies such as the Environmental Protection Agency and National Standard GB 18582-2008, about the discharge of volatile organic compounds (VOCs) is driving the market for waterborne paints, being VOC-free, having UV resistance, and having low-VOC content.

4. The non-residential construction repaint segment held the largest share with 55% in the construction repaint market in 2021. Construction repaint are majorly used for repairs, renovation, and maintenance works. In industrial or commercial sectors, for repainting applications, construction repaint can be used as paints in manufacturing plants, airplane hangars, hospitals, commercial and retail stores, showrooms, garages, and others.


Competitive Landscape:

The top 5 players in the Construction Repaint Industry are -

1. AkzoNobel N.V.
2. The Sherwin-Williams Company
3. Asian Paints Ltd.
4. The Valspar Corporation
5. Royal DSM


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