MASTIC REMOVER MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Regional Analysis

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North America has been dominating the global mastic remover market for a long time owing to strong paints and coatings industry presence in the U.S. and Canada. The region is expected to account for 34.4% of the market share in 2024. The paints industry in North America is highly organized with the presence of global as well as domestic players. Furthermore, the high disposable incomes and purchasing power of homeowners in the region encourage them to frequently refurbish and redecorate their homes, which drives the need for mastic removers. Stringent environmental regulations regarding the use of toxic materials and availability of alternatives also boost the demand for mastic removers in North America instead of harsh chemicals. The import and export of mastic removers is well established in North America with the U.S. being the key importer.

The Asia Pacific region, especially China and India, has emerged as the fastest growing market for mastic removers in recent years. This can be attributed to the surge in infrastructure development activities taking place across major economies. Rapid urbanization has substantially increased residential and commercial construction, requiring the removal of existing materials for renovation purposes. Additionally, growth in the manufacturing and industrial sectors have led to expansion and upgrades of existing facilities. This has created a huge demand for mastic removers in the industrial maintenance, repair and operations (MRO) activities in the region. The pricing of mastic removers is also comparatively lower in the Asia Pacific market owing to ease of availability of raw materials and lower manufacturing costs. However, uneven enforcement of environmental regulations in some countries poses challenges for industry players regarding use of certain ingredients.