March 16, 2020
According to the report titled ‘North America Painting Tools Market Size By Product, Application, Industry Analysis Report, Country Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2017 – 2024’, available with Market Study Report LLC, North America painting tools market is expected to surpass USD 2.8 billion by the year 2024.
As per the report, shifting focus towards improving aesthetics and ensuring corrosion resistance in commercial and residential buildings is the major factor driving the growth of the North America painting tools industry. Improving economic conditions has enabled the government entities to increase their expenditure towards infrastructure development, which in turn is fostering the demand for painting tools in the region. Additionally, steady oil prices have facilitated in stabilizing the cost of raw materials. This factor along with rapid urbanization is stimulating the expansion of North America painting tools industry.
As per product type, brushes segment is presumed to expand substantially during the forecast period. Technological advancements in brushes has facilitated in customization of brush bristles. This has further increased the use of brushes during construction activities. Adding to this, availability of various bristle sizes is fueling the segmental growth.
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On the other hand, rollers segment registered a consumption of 44.4 million units in the year 2017 and is expected to grow significantly during the estimated timeframe. Rollers can hold more paint as well as provide smoother finish and enable easy release of paint. This factor along with development of innovative rollers with attached paint tank are facilitating the business scenario.
Based on the application spectrum, North America painting tools market from construction industry accounted for 75% share in the year 2017 and will witness lucrative growth in the forthcoming years. Extensive use of brushes and rollers for fast and easy applicability of paint along with surging expenditure towards infrastructure development are driving the segmental growth.
Alternatively, automotive segment is poised to amass notable gains in the ensuing years. Growing demand for superior coat and paint finish to enhance the aesthetics of vehicles is aiding the business scenario in North America.
The market majors operating in North America painting tools industry are Steeles Paint, Outils A. Richard Co., Dynamic Paint Products, Bergsma’s Paint Décor, Bennet Tools Hardware Ltd., T.S. Simms Co., Richard Tools, Nour Trading House, Inc., Boone Paint Interiors, Titan Tool, Warner Manufacturing Co., Premier Paint Roller Manufacturing Co., Hyde Tools, Inc., Harbor Freight Tools, Allway Tools, Anderson Products, Purdy, Braun Brush, Mill-Rose Co., and Gordon Brush.
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