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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