Paints used in homes, multi-family residential, commercial, and institutional applications are known as construction repaints. Various types of paints available in European markets are varnishes, emulsions, and enamels which serve the purpose of maintenance, repairs, and renovation work. The introduction of bio-based or eco-friendly materials in paints is the major factor affecting the growth of construction repaints market in Europe. Paints and coatings industry has been under subjected to immense pressure from European regulatory authorities to reduce the environmental impact of paints and its products. It was observed that many renewable raw materials are used in the manufacture of bio-based and eco-friendly paints. These repaints are more reliable and sufficient to meet the needs of the increasing population and its expectations. All the construction bio-based repaints which are used extensively have witnessed less environmental impact. Major ingredients in manufacture of 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 “Europe Construction Repaint Industry Situation and Prospects Research report”, the leading vendors in the European 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 Chemical. Various products in European construction repaints market are alkyd, polyurethane, polyester, epoxy, acrylic and others. Acrylic type of repaints category accounted for the major share in the construction repaints market because they are inexpensive and can be used as architectural coatings or 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 European construction paints industry. The construction repaints market in Europe 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. Geographically, European construction repaints industry is spread across Germany, Russia, UK, France, Italy and other regions.
Europe is undergoing major reforms in the infrastructure sector, thereby; consuming more construction bio-based repaints and generating huge revenues. It was observed that there is an increased demand for construction repaints due to 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 is also due to increasing population, modernization and industrialization that is driving the construction repaints market in Europe and the trend will continue over the next few years.
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Ankur Gupta, Head Marketing & Communications