The report provides analysis of global Painting Tools market for the period 2016-2026, wherein 2019 to 2026 is the forecast period and 2017 is considered as the base year. According to Acumen Research and Consulting, the global Painting Tools market is expected to grow at noteworthy CAGR around 5.8 % throughout the forecast period and reach around US$ 16 billion by 2026. Basically, painting tools simplify the painting task overall. Each has its own unique properties and task with a wide range of painting devices. The addition of new tools on the market further increases the popularity between end-users of these tools.
With increasing demand for residential buildings, the global market for painting tools is projected to increase. During the forecast period, significant growth is expected in the overall construction industry. The overall sector growth is likely to increase increasing consumer preferences for affordable housing and government measures aimed at providing commercial and housing amenities at subsidized rates. The product portfolio will also continue to expand with increased demand for residential and commercial equipment. Strict regulations and standards for the limited use of VOCs in some paints and paintings will create strong market growth prospects. The overall size of the market for painting tools may be impede by low awareness and costly products, including spraying weapons and sanding tools.
Increasing demand for the modern painting instruments will create new avenues for the growth of the painting instruments market due to their low costs, easy availability and consumer-friendly features in comparison with traditional tools. The industry landscape will be enhanced by key properties as facility in wall-and ceiling painting application, an better esthetic appeal of walls as well as less waste of paint. In addition, increasing population and increasing parity in purchasing power promote consumer goods and automotive demand, which have led to robust industrialisation. Thus, the overall business expansion proliferates in return.
The increasing demand for the painting tools market is expected to be fueling with decorative paint and industrial protecting lacquers. The decorative products are expected to be highly demanded, thus increasing the penetration of the product. In addition it is possible to increase the range of products in the sector by shifting preference to wood coating and furniture coating. In addition, rising income levels and the focus on eco-friendly products will boost product market penetration among developing economies such as India, South Korea and South Africa.
Increased domestic and external demand will drive the growth of the industry. The rise of the nuclear family led to increased residential demand, driving growth in the industry overall. The overall demand in the industry will increase by shifting the consumer preference for small families together with increasing populations. Furthermore, the product penetration is driven by the properties of tools like ease of application and affordability.
The brush market for global painting tools is anticipated to exceed over 3.5 billion USD by 2026. The positive scope will be provided by significant benefits, including less paint use, easier handling, better surface coverage and comfortable mixing of different colours. Furthermore, the market share will further increase key properties like high bristle elasticity, large numbers of thicker base, split ends, and thinner at the ends.
Roller is expected to see sales growth in the overall tool market by more than 6.5% until 2026. The shift of consumer trends to coated furniture & wood to improve product life will fuel the development of the industry. The main properties driving product demand on the market include standard painting in less time and minimal paint wastage. In addition, the overall business expansion will lead to key advantages such as lower paint applications, better finishing quality and complex painting.
By 2026 the global market in construction application segment is expected to exceed 1.2 billion units. Due to the high sustainability of building structures, the integration of green technology into several construction projects will drive the market. Key advantages of the paints & coating, including increased surface resistance and weather and rusting prevention, will provide a positive scope for application in the industry. The rapid expansion of residential and commercial buildings through development countries such as the United Arab Emirates and Saudi Arabia will further boost the scope of application.
Over the forecast period, the overall market for painting tools in the automotive application has significantly increased of 5.5%. The growing car industry has resulted in high requirements for lacquering and coatings to protect vehicles and provide esthetic appeal. This has led to the company's contribution to the automotive economies. Furthermore, favorable weather conditions coupled with easy employment are key factors for the growth of the car sector, which in turn further drives the overall size of the market.
The total share of revenue of Asia Pacific in the painting tools market accounted for more than 40.5% in 2018. The business expansion will be further enhanced by the rise in commercial and residence projects in several developing economies, including the UAS, Saudi Arabia and South Africa. The region's overall industry will be proliferated by rapid urbanisation & infrastructural developments in major countries around the world, including China, India and South Korea.
In the overall painting tool market Latin America will see significant gains of more than 6.5 until 2026. Several regional government agencies have begun financing the PPP Development Plans, which in turn will provide a strong business expansion outlook. The industry share in the area will be boosted by the increasing demand for decorations, general industrial and architectural applications. Furthermore, fast annual automotive production will further propel the size of the market throughout Latin America due to rising income and consumer acquisition capacity.
Painting Tools Market by Product
Painting Tools Market by Application
Global Painting Tools Market, by Geography
The market research study on “Painting Tools Market (By Product: Brushes, Trays, Scrapers, Rollers, Knives, Spray Gun, Masking Tapes; By Application: Construction [Commercial, Residential, Industrial ], Appliances, Automotive, Furniture, Packaging, Industrial Machineries & Equipment) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 - 2026” offers detailed insights on global Painting Tools market segments with market dynamics and their impact. The report provides insights on global Painting Tools market by product, by application, and major geographic regions. The report also covers basic technology development policies.
The report offers an overview of the market and statistical diagrams to support the expected figures. Our analysts predict the market scope and future prospects in an insightful way. The Acumen Research and Consulting report contains a comprehensive analysis of the global market in Painting Tools segmented.The industry consists of a number of instruments that facilitate their application in the coating and lacquer industry. Many devices and tools include rollers, pins, spray gun, extender poles and masking tape. Coating vehicles, construction, industrial equipment and appliances are diverse and different applications of elements. Due to the industrial revolution in the last decade the use of metals has increased extensively. Various machinery and machinery with coating and painting applications are protected from rousting and corrosion in industry. Increasing demand for lacquers will promulgate the forecast period for the industry. The report outlines numerous growth strategies implemented by companies as well as the latest market trends. The market share and current position of all leading players are discussed in detail. It analyzes players ' new revenue sources and highlights the different strategies.
The market share of Asian Paints, Gordon Brush, Dura Painted and Nespoli Group are highly competitive in nature. Braun Brush, Mill-Rose Company, Anderson Products, Purdy, Milton Brushware and Richard Tools were also major participants in the industry. The key strategies adopted by major industry players are supply chain agreements, product improvements, mergers and acquisitions.
Key manufacturers participate, together with major purchases and merges, in numerous supply agreements with the different end-user industries. For example, Reno Chemicals Pharmaceuticals and Cosmetics Pvt were purchased by Asian Paints on 17 December 2017 for USD 24.7 million. The acquisition contributed to strengthening and diversifying its international business and product portfolio.