The construction repaint market has been expected to grow at a noticeable pace during the forecast period. Growth opportunities in the market are due to the increasing innovation and development of the novel products through extensive R & D activities. For instance, PPG Industries has unveiled two water-based aerosol ceiling textures with its brand HOMAX. These newly developed products are suitable for knockdown and orange-peel repair projects. The innovations are likely to reduce the time for ceilings repair. So, based on these factors, the construction repaint market has been anticipated to grow at a rapid pace in the following years.
The products from the construction repaint market are generally used in institutional, commercial, and building establishments for the purpose of carrying out renovation, making repairs, and maintenance works. Further, the construction repaint market products consist of enamels, emulsions, and varnishes. These products from the construction repaint market are solvent-borne or waterborne formulations. The increased number of constructions and buildings around the world require repairs and renovations that have further increased the demand for the repaints. Thus, based on these factors, the construction repaint market is estimated to expand at a significant pace in the foreseeable years.
Worn-off paint coatings in numerous residential and commercial buildings along with the damage of paint in numerous construction structures during a period of time have resulted in increased demand prospects in the construction repaint market.
Construction Repaint Market: Key Segmentation
The construction repaint market has been bifurcated on the basis of region, application, formulation, and resin type. Based on resin type, the construction repaint market has been divided into polyurethane, alkyd, epoxy, and acrylic. In addition to this, the construction repaint market is spread into five key geographical locations, that include, Latin America, the Middle East & Africa, Asia Pacific, Europe, and North America.