In a recent published report, Kenneth Research has updated the market report for Global Repair Construction Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID-19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Global Repair Construction Market products.
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Moreover, increase in ICT spending around the globe for hardware, software, services, new technologies and telecom among others is also anticipated to contribute to the growth of the market in the coming years. The spending on new technologies recorded around USD 0.6 million in 2018 and is further estimated to reach close to USD 1.3 million by 2023. The total ICT spending around the globe further recorded close to USD 5 million in 2019 and is further projected to touch USD 6 million by 2023.
The underlying global economic power shift is the reason for urbanization boost in many emerging economies like China, India, Philippines, Indonesia, Ghana and Nigeria.
There are many factors that attribute to the rise in the need for repair construction market, some of these being, challenges in new home construction, affordability issue, low mortgage rates, good job opportunities, favourable stock market, wage gains, strong existing home sales, etc. Rising scale of infrastructure projects like transportation and construction of railways, airports, power plants, housing and large-scale manufacturing is also a strong factor and private sector investment in urban revitalization, time and raw materials used for repair and increasing remodelling of public infrastructure projects can fuel market growth. These factors have led to increase in demand for existing homes, price rise and millennials being inclined towards purchasing affordable existing homes that need renovations. These factors are encouraging home renovation and remodelling activities.
The growing per capita income of the middle-class population will result in the demand for advanced infrastructures like the need for better rods, sanitation, clinics and hospitals to schools, power transmission and transport sectors. There is a need for maintaining the aesthetical and constructional value of a property in its lifespan. Therefore constructional repairs of buildings are necessary because the better the property is maintained, the greater is the period between repairs.
There are numerous parameters on the basis of which repair materials are selected. The material must be non-hazardous, durable, compatible and have low air and water permeability, low shrinkage, good holding strength and proper coefficient of thermal expansion. Waterproofing compounds, bonding agents, water repellants, paint additives, polymer-based crack fillers, mortar mixtures and rust removers reused for non-structural repairs. For structural repairs, ready-made polymer plasters, acrylic copolymers, styrene butadiene rubber, plasticizers-based repair compounds and epoxy bonding agents are used.
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The affordable pricing of renovated housing
High need for accurate information collection and resource monitoring
Increasing spending on public infrastructure projects
Advantages of repair construction over reconstruction
Some of the key players in the market are: 3M, BASF, The Dow Chemical Company, Sika, W.R. Grace, AkzoNobel, Bechtel, Bostik, CHRYSO, CICO Group, CONMIX, DuPont, Muhu, Pidilite, RPM International, Selena and Terraco.
Report ContentsRegional AnalysisReport Highlights
Global Market segments
Global Market Drivers, Restraints and Opportunities
Global Market Size & Forecast 2016 to 2022
Supply & Demand Value Chain
Global Market – Current Trends
Competition & Major Companies
Technology and R&D Status
Porters Five Force Analysis
Strategic and Critical Success Factor Analysis of Key Players
US and Canada
Mexico, Brazil, Argentina and Rest of Latin America
EU5 (Germany, France, Italy, Spain, U.K.)
Nordic Countries (Denmark, Finland, Norway, and Sweden)
Benelux (Belgium, The Netherlands, and Luxembourg)
Rest of Western Europe
Rest of Eastern Europe
Australia and New Zealand
Rest of Asia Pacific
Middle East and Africa
GCC countries (Saudi Arabia, Oman, Qatar, Bahrain, UAE and Kuwait)
Rest of Middle East and Africa
This report is an elaborate aggregation of primary inputs from industry experts and participants across the supply chain. It provides details on market segmentation which is derived from several product mapping exercises, macroeconomic parameters and other qualitative and quantitative insights. The impact of all such factors is delivered across multiple market segments and geographies.
Detailed Historical Overview (Market Origins, Product Launch Timeline, etc.)
Consumer and Pricing Analysis
Market dynamics of the industry
Estimated Market Sizing in terms of volume and value
Recent trends in market and impact
Research Status and Technology Overview
Extensive Industry Structure Coverage
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