The crack proof paint global market report 2024from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Crack Proof Paint Market, 2024report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The crack-proof paint market size has grown strongly in recent years. It will grow from $118.67 billion in 2023 to $128.77 billion in 2024 at a compound annual growth rate (CAGR) of 8.5%. The growth in the historic period can be attributed to climate variability, aging infrastructure, consumer awareness, globalization of trade, and a shift towards sustainable solutions.
The crack-proof paint market size is expected to see strong growth in the next few years. It will grow to $180.23 billion in 2028 at a compound annual growth rate (CAGR) of 8.8%. The growth in the forecast period can be attributed to infrastructure development, stringent regulations, increasing awareness of maintenance costs, rising demand for crack-proof paints in the marine industry, and growth in renovation projects. Major trends in the forecast period include advanced formulations, smart coatings integration, nano-engineered solutions, customization and color options, and integration of sustainable materials.
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Scope Of Crack Proof Paint Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Crack Proof Paint Market Overview
Market Drivers –
The increasing demand from the construction industry is expected to propel the growth of the crack-proof paint market going forward. The construction industry encompasses planning, designing, developing, and constructing buildings, infrastructure, and other physical structures. The construction industry utilizes crack-proof paint to enhance the durability and longevity of structures, ensuring protection against cracks caused by settling, temperature fluctuations, and structural movement, reducing maintenance costs, and prolonging the lifespan of buildings and infrastructure. For instance, in June 2023, according to the quarterly construction inquiry published by the Northern Ireland Statistics and Research Agency, a Northern Ireland-based public authority, the overall construction industry expanded by 6.5% from 2022 to 2023, with the housing sector of construction increasing by 11.1% and the infrastructure subsector by 3.7%. Therefore, increasing demand from the construction industry is driving the growth of the crack-proof paint market.
Market Trends –
Major companies operating in the crack-proof paint market are developing innovative products, such as Do-It-Yourself (DIY) paints, to gain a competitive edge. DIY paints are a category of paints and coatings that significantly provide consumers with accessible solutions for addressing cracks and imperfections in various home surfaces. For instance, in April 2022, AkzoNobel India, a subsidiary of AkzoNobel, a Netherlands-based company, engaged in paints and performance coatings for industry and consumers, launched the Dulux Simply Refresh, a range of DIY home paints to provide easy-to-use solutions for home décor and small maintenance tasks. It offers consumers a one-stop solution for various home transformation needs, including decorative paints, repair solutions, and painting kits. Dulux offers a convenient, ready-to-use crack filler with strong adhesion, no shrinking, and durable hardness, perfect for repairing cracks effectively. The products boast features such as high-performance crack filler with one-coat application, low drip and splatter technology, and a wide range of colors.
The crack proof paint market covered in this report is segmented –
1) By Type: Water-Based, Solvent-Based
2) By Resin: Polyurethanes, Acrylic, Epoxy, Nitrocellulosic, Alkyd, Other Resins
3) By End-Use : Residential, Commercial, Industrial
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Regional Insights –
Asia-Pacific was the largest region in the crack-proof paint market in 2023. The regions covered in the crack proof paint market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the crack proof paint market are Sherwin-Williams Company, PPG Industries Inc., Akzo Nobel N.V., Nippon Paint Holdings Co. Ltd., Masco Corporation, RPM International Inc., Axalta Coating Systems Ltd., Diamond Vogel Paints, Asian Paints Limited, Valspar Corporation, Kansai Paint Co. Ltd., Jotun Group, Tikkurila Oyj, Sto Corp., Berger Paints India Limited, Benjamin Moore & Co., Rust-Oleum Corporation, Dunn-Edwards Corporation, Beckers Group, Flügger group A/S, Kelly-Moore Paints, Tnemec Company Inc., Hempel A/S, DuluxGroup Limited, Chugoku Marine Paints Ltd.
Table of Contents
1. Executive Summary
2. Crack Proof Paint Market Report Structure
3. Crack Proof Paint Market Trends And Strategies
4. Crack Proof Paint Market – Macro Economic Scenario
5. Global Crack Proof Paint Market Size and Growth
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32. Global Crack Proof Paint Market Competitive Benchmarking
33. Global Crack Proof Paint Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Crack Proof Paint Market
35. Crack Proof Paint Market Future Outlook and Potential Analysis
36. Appendix
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