Painting Tools Market Size, Industry Analysis Report, Regional Outlook (Americas, Europe, APAC and EMEA), Application Development status, Price Trend, Competitive Market Share & Forecast, 2019-2025.
Painting Tools Market size is estimated to surpass USD 15 billion by 2025; according to a new research report by Global Market Insights, Inc. Painting tools market from residential construction is anticipated to witness over 6% growth in terms of revenue up to 2025. Growing population, increasing regulatory support from various government bodies, and surging incorporation of the green technologies in the building projects will enhance the segment scope in the market. Additionally, rising popularity of the multi generation suites in the new home construction sector along with extra kitchen in the apartment will further propel segment growth in the overall painting tools market share
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Increasing infrastructure projects along with steady support from public private partnerships are among the major driving factors for growth in the construction industry which in return will drive the overall painting tools market size. Increasing needs for houses along with investment regarding infrastructure development is estimated to fuel the industry growth. Rising smart cities demand and increased construction expenditure for economically stabilizing countries is expected to propel the painting tools market expansion.
Population growth, environmental impacts and urbanization has up surged the need for smart and sustainable infrastructure solutions. For instance, global construction industry is set to grow at around 2.8% up to 2021. In addition, providing efficient building methods coupled with ability to offer effective integration, planning and designing, are the major factors further propelling the painting tools market growth. This has resulted in demand for painting brushes and rollers as they are widely used in painting houses.
Appliances application is projected to surpass USD 900 million in the global painting tools market by 2025. Key factors such as increasing technological advancements, rapid urbanization, increasing per capita income, and escalating number of smaller households will promulgate the business expansion. Besides, shifting consumer preferences towards new & improved kitchen and living room decors along with significant protection of appliances from damage will provide positive scope for the segment growth in the overall market share.
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Europe accounted for over USD 2 billion in the overall painting tools market in 2018. Surging product demand from professional craftsmen in the architectural industry and quality minded home improvement enthusiasts will propel the industry expansion. In addition, rising demand from the decorative paints segments along with general industrial applications will further enhance the overall painting tools market growth across the region. Moreover, shifting consumer preferences towards the aesthetics and designs of the walls in the residential and commercial buildings will promulgate the market share.
Gordon Brush, Asian Paints, Nespoli Group, Dura Paints, and Anderson Products are among the major manufacturers in the business. Global painting tools market share is highly competitive with the presence of major multinational corporations. The key manufacturers are involved in numerous production capacity expansions, mergers & acquisitions, new product launches, and long-term agreements to gain a competitive edge over other players. For instance, on 21st March 2019, Gordon Brush announced the acquisition of Spectrum Paint Applicator Corp. which is the leading producer of consumer & industrial paint brushes along with paint rollers and artist brushes. The acquisition will strengthen the company presence in the paint brush industry across the globe.
Related News – https://www.fractovia.org/news/painting-tools-market/4891