Global Crack Proof Paint Market Report 2024

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 historical period's growth can be attributed to factors such as climate variability, aging infrastructure, heightened consumer awareness, globalization of trade, and a transition 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 forecast period's growth is expected to stem from infrastructure development initiatives, stringent regulatory measures, growing awareness of maintenance costs, increasing demand for crack-proof paints within the marine industry, and expansion in renovation projects. Key trends anticipated in the forecast period encompass advancements in formulations, integration of smart coatings, utilization of nano-engineered solutions, offering customization and a wide array of color options, and the incorporation of sustainable materials.

The burgeoning demand from the construction industry is anticipated to drive the future growth of the crack-proof paint market. Within the construction sector, encompassing the planning, design, development, and construction of buildings and infrastructure, crack-proof paint serves as a crucial component to enhance the durability and longevity of structures. It provides protection against cracks induced by settling, temperature fluctuations, and structural movement, thus reducing maintenance costs and extending the lifespan of buildings and infrastructure. For example, based on the quarterly construction inquiry published by the Northern Ireland Statistics and Research Agency in June 2023, the overall construction industry witnessed a 6.5% expansion from 2022 to 2023, with the housing sector growing by 11.1% and the infrastructure subsector by 3.7%. Hence, the escalating demand from the construction industry propels the growth of the crack-proof paint market.

Key players in the crack-proof paint market are focusing on developing innovative products, such as Do-It-Yourself (DIY) paints, to gain a competitive advantage. DIY paints represent a category of paints and coatings that offer consumers accessible solutions for addressing cracks and imperfections on various home surfaces. For instance, in April 2022, AkzoNobel India, a subsidiary of the Netherlands-based AkzoNobel, launched Dulux Simply Refresh, a range of DIY home paints tailored to provide easy-to-use solutions for home décor and minor maintenance tasks. It offers consumers a comprehensive solution for various home transformation needs, including decorative paints, repair solutions, and painting kits. Dulux features a convenient, ready-to-use crack filler with strong adhesion, no shrinking, and durable hardness, ideal for effectively repairing cracks. The products boast attributes such as high-performance crack filler with one-coat application, low drip and splatter technology, and a diverse range of colors.

In January 2023, JK Paints & Coatings Limited, an India-based paint manufacturing company, acquired a 60% stake in Acro Paints Ltd for an undisclosed amount. This strategic move marks JK Cement's foray into the paint business segment, leveraging Acro Paints' expertise in decorative paints and waterproofing products. Acro Paints Ltd specializes in decorative paints renowned for their resistance to drying or cracking in sunlight.

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.

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. The countries covered in the crack proof paint market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Crack-proof paint is a specialized coating engineered to prevent the occurrence of cracks on painted surfaces. It is designed to maintain flexibility and durability, adapting to the natural expansion and contraction of building materials caused by temperature fluctuations, changes in humidity, and structural shifts.

The primary types of crack-proof paint include water-based and solvent-based formulations. Water-based crack-proof paint utilizes water as the primary solvent instead of harsh chemicals, making it environmentally friendly and easy to clean up. Various resins, such as polyurethanes, acrylics, epoxies, nitrocellulosics, alkyds, and others, are incorporated, catering to end-uses spanning residential, commercial, and industrial applications.

The crack proof paint market research report is one of a series of new reports that provides crack proof paint market statistics, including the crack proof paint industry global market size, regional shares, competitors with crack proof paint market share, detailed crack proof paint market segments, market trends, and opportunities, and any further data you may need to thrive in the crack proof paint industry. This crack proof paint market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The crack-proof paint market consists of sales of elastomeric paint, acrylic latex paint, silicone paint, ceramic paint, waterproofing paint, and latex-based coatings. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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