Construction repaint usually refers to the paint used in homes, multi-family residential, commercial, and institutional applications. Various types of paints are varnishes, emulsions, and enamels which serve the purpose of maintenance, repairs, and renovation work. The introduction of bio-based materials in paints is the major factor affecting the growth of construction repaints market in Asia. Paints and coatings industry has been under subjected to immense pressure from regulatory authorities to reduce the environmental impact of paints. It was observed that renewable raw materials are used in the manufacture of bio-based paints. They are more reliable and sufficient to meet the needs of the increasing population and its expectations. Construction bio-based repaints are used extensively which has witnessed less environmental impact. Major ingredients in construction bio-based repaints are natural oils, resins, waxes, gums, and polysaccharides that provide better carbon performance, life-cycle performance, greater purity, enhanced water solubility, and reduced toxicity.
According to the study “Asia Construction Repaint Industry Situation and Prospects Research Report”, the leading vendors in the Asia construction repaints market are Arkema, Solvay, Nuplex Industries Limited, BASF, Covestro, DIC Corporation, DSM Coating Resins, Momentive Performance Materials, Huntsman, Dow, LyondellBasell Industries and Eastman. Various products in Asia construction repaints market are alkyd, polyurethane, polyester, epoxy, acrylic and others. Acrylic type of repaints category accounted for the major shares of the construction repaints market because they are inexpensive and can be used architectural coatings, product finishes. They are also used by automobile original equipment manufacturers for refinish and special-purpose coatings that will surely contribute to the growth of the construction paints industry. The Asia construction repaints market is categorized based on formulations such as waterborne paints, solvent-borne paints, and power coatings. Waterborne paints segment accounts for a major share in the construction repaints market due less VOC emissions, lesser exposure to hazardous air pollutants, stringent environmental regulations and introduction of technology toward eco-friendly products.
Asia is the major consumer of construction bio-based repaints and generates huge revenues in this market. It was observed that there is an increased demand for construction repaints in Asian countries such as Japan, China, and India. This is due to the developing economies, evolution in construction industry, rebuilding aged buildings, rise in infrastructure repairs, and increased use of waterborne coatings in paints. The increase in consumption of construction repaints due to increasing population, modernization and industrialization will drive the construction repaints market in Asia over the next few years.
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Ankur Gupta, Head Marketing & Communications