- The crack proof paint market is projected to expand at a CAGR of 5.5% during 2022 to 2031
- A rise in the demand for moisture-resistant paints is propelling the market for crack proof paint
- Increasing government projects pertaining to infrastructure developments in emerging economies of Asia Pacific are propelling the regional market
WILMINGTON, Del., Aug. 12, 2022 /PRNewswire/ -- The market share for crack proof paint market is prognosticated to reach a valuation of US$ 195.0 Bn by 2031, as per analysts at Transparency Market Research (TMR). Furthermore, the crack proof paint market demand analysis states that the market is expected to develop at a CAGR of 5.5% during the forecast period of 2022 to 2031.
Key players in crack proof paint market are investing heavily in R&Ds in order to develop superior quality products. Such efforts are helping them to expand their product portfolios. Moreover, major players operating in the global crack proof paint market are concentrating on the residential and commercial industries in order to increase their revenue numbers, note analysts of a TMR analysis.
Asia Pacific is prognosticated to contribute largest revenue share in crack proof paint market during the forecast period. The expansion of the Asia Pacific market is attributed to many factors including a surge in the investments by regional governments including India and China in infrastructure development activities.
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Crack Proof Paint Market: Key Findings
- Crack proof paints are gathering impetus in the construction industry owing to different properties including their eco-friendly nature and resistance to extreme weather conditions. Hence, a rise in the utilization of these paints is expected to help in boosting the sales growth in the crack proof paint market during the forecast period. This aside, crack proof paints are in high demand owing to their ability to help in the retaining the structure of paints even when the coated material (usually wood) contracts or expands on exposure to abrasive conditions or due to the temperature changes.
- Over the period of past few years, the demand for advanced level of roof and wall finishes with no dampness and cracks is being increasing specifically for exterior applications. This factor is expected to drive the sales growth in the global crack proof paint market in the forthcoming years.
- The government authorities of several developing nations across the globe are increasing government-sponsored public housing programs. As a result, there has been a surge in the number of construction projects in these nations. This, in turn, is likely to boost the demand opportunities in the global crack proof paint market during the forecast period, note analysts at TMR.
- The demand for water-based paints is being increasing in the recent years owing to many factors including low levels of volatile organic compounds in these paints. Moreover, these paints are in high demand globally as they can dry rapidly. In addition, they do not require additive thinners and hardeners and hold superior adhesion qualities. Hence, rise in the use of these paints in the exterior and interior wall paints is boosting the sales growth in the global crack proof paint market.
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Crack Proof Paint Market: Growth Boosters
- The rapid expansion of the global building and construction industry is expected to drive the sales growth in the crack proof paint market
- Surge in the demand for moisture-resistant paints across the globe is prognosticated to fuel the business avenues in the market
Crack Proof Paint Market: Key Players
Some of the key players profiled in the report are:
- PPG Industries, Inc.
- Akzo Nobel N.V.
- Polisan Kansai Boya
- Asian Paints Limited
- Berger Paints India Limited
- The Valspar Corporation
- Dunn-Edwards Corporation
- StarShield Technologies Pvt.Ltd.
- California Paints (ICP Building Solutions Group)
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Crack Proof Paint Market Segmentation
- Resin
- Polyurethanes
- Acrylic
- Epoxy
- Nitrocellulosic
- Alkyd
- Others
- Technology
- Water-based
- Solvent-based
- End-use
- Residential
- Interior
- Exterior
- Commercial
- Interior
- Exterior
- Industrial
- Interior
- Exterior
Regions Covered
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
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