The global construction repaint market revenue is expected to expand at a lucrative CAGR over the forecast period. Increasing developments in the infrastructure sector coupled with a range aging or damage of paints in the existing buildings and infrastructures are expected to drive demand for construction equipment.
The global construction repaint market report has been segmented on the basis of resin type, formulation, application and region.
On the basis of resin type, the target market is segmented into acrylic, epoxy, polyester, alkyd and polyurethane. Acrylic segment accounted for the major shares of the global market owing to inexpensive pricing and its wide usage in architectural coatings.
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On the basis of formulation, it is segmented into waterborne paints and solvent-borne paints. waterborne paints segment will hold the maximum share of the target market due to factors such as reduction in VOC emissions and lesser exposure to hazardous air pollutants.
On the basis of application, the target market is segmented into residential and non-residential sector. Residential sector segment is estimated to be the largest application segment of the target market. Aging paints in existing buildings, huge demand for repair & maintenance, and growing construction sector are some of the pointers driving residential sector in the global market.
Based on the region the target market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific market is the fastest-growing region of the global market. Emerging countries such as India and China are expected to offer better opportunities owing to rising population and urbanization along with growth in the infrastructural development that are boosting demand for the global market. The growing investments in infrastructure development and construction sector are primary drivers for the market growth in the region.
Key players operating in the global construction repaint market include: Akzonobel N.V., Asian Paints Ltd., Axalta Coating Systems LLC, Expansions, Joint Ventures, Jotun A/S, Kansai Paint Co., Ltd., Mergers & Acquisitions, New Product Launches, Nippon Paint Holdings Co., Ltd., among others.
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