NEW YORK, Jan. 17, 2017 /PRNewswire/ -- "Construction repaint market to grow at a CAGR of 6.5% for the forecast period, 2016-2026"
The construction repaint market size is projected to reach USD 93.72 billion by 2026, at a CAGR of 6.5% from 2016 to 2026. Construction repaint is recognized as the paint used in homes, multi-family residential, commercial, and institutional applications such as, varnishes, emulsions, and enamels, among others, for the purpose of maintenance, repairs, and renovation work. These applications drive the construction repaint market globally. The use of durable products, and the increasing popularity of glass buildings act as restraints for the market.
"Acrylic paint is projected to be the fastest-growing resin type in the construction repaint market"
Acrylic paint is estimated to be the fastest-growing resin type in the construction repaint market. Acrylic resins are inexpensive, water soluble and hence used as waterborne paints. In addition, acrylic paints also have user friendly properties such as being easy to clean and their durability. Acrylic paints are used in various forms such as, emulsions (latex), lacquers, enamels, and powders. The demand for acrylic resins is projected to grow due to the strict environment regulations by various governments.
"Asia-Pacific is the largest and the fastest-growing market for construction repaint"
The Asia-Pacific region is estimated to be the largest market, as well as the fastest-growing market for construction repaint. The region is expected to register the highest growth rate owing to the high demand from countries such as, Japan, China, and India. China is estimated to be the largest market for construction repaint in the Asia-Pacific region, followed by India and Japan. India is projected to be the fastest-growing market in the Asia-Pacific region. Growth of the residential and non-residential construction sector has led to an increase in the demand for construction repaint in the region.
Extensive primary interviews were conducted to determine and verify the market size for several segments and subsegments gathered through secondary research.
The break-up of primary interviews is given below.
- By Company Type: Tier 1 – 37%, Tier 2 – 50%, and Others – 13%
- By Designation: C level – 50%, Director level – 31%, and Others – 19%
- By Region: North America – 31%, Europe – 38%, Asia-Pacific – 25%, and RoW – 6%
The companies profiled in this market research report are AkzoNobel N.V. (Netherlands), PPG industries, Inc. (U.S.), The Sherwin-Williams Company (U.S.), RPM International Inc. (U.S), Asian Paints Ltd. (India), Nippon Paint Holdings Co., Ltd. (Japan), The Valspar Corporation (U.S.), Axalta Coating Systems (U.S), Kansai Paint Co., Ltd (Japan), and Jotun A/S (Norway).
This research report categorizes the global construction repaint market on the basis of resin type, formulation, application, and region. The report includes detailed information regarding the major factors influencing growth of the construction repaint market, such as, drivers, restraints, challenges, and opportunities. A detailed analysis of the key industry players provides insights into business overviews, products & services, key strategies, investments & expansions, mergers & acquisitions, and recent developments associated with the market.
Reasons to Buy the Report:
The report will help market leaders/new entrants in this market in the following ways:
1. This report segments the global construction repaint market comprehensively and provides the closest approximations of market sizes for the overall market and subsegments across verticals and regions.
2. The report will help stakeholders understand the pulse of the market and provide them information on the key market drivers, restraints, challenges, and opportunities.
3. This report will help stakeholders understand the major competitors and gain insights to enhance their positions in the business. The competitive landscape section includes expansions, new product developments, and mergers & acquisitions.
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