April 02, 2020
According to a recent study titled ‘Painting Tools Market Size By Product, By Application, Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2025’ available with Market Study Report LLC, the global painting tools market is expected to record a strong CAGR during 2019-2025.
Increasing sales of modern painting tools on account of their easy availability, consumer-friendly design, and lower costs will stimulate the growth of painting tools market in forthcoming years. Rising disposable income in tandem with growing inclination towards improving the aesthetics of walls is boosting the product adoption. Painting tools minimize paint waste and enables easy application on walls and ceilings.
Increasing number of smart building constructions along with shifting focus towards aesthetically textured residential spaces is augmenting the demand for rollers and spray guns. Furthermore, increasing popularity of DIY painting solutions will enhance the business landscape.
Stringent regulatory norms limiting VOC emissions is encouraging the use of water-based based paints. This factor, along with rising environmental concerns will present new growth opportunities for painting tools market in the coming years.
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Based on the product type, scrapers segment is projected to witness a growth of 5.5% by the end of 2025, owing to their extensive use for smoothing the walls. Booming construction sector in developing nations such as UAE, Saudi Arabia, and South Africa on account of increasing population and home improvement projects is driving the segment growth.
Speaking of the application scope, furniture segment is expected to see a sizeable growth and accrue USD 900 million by 2025. The growth can be affixed to increasing demand for household and institutional furniture in accordance with changing home decorations and interior design trends. Escalating demand for furniture across residential and commercial buildings for an improved lifestyle is further stimulating the use of painting tools.
Considering the geographical outlook, painting tools market in North America is expected to amass USD 2.5 billion by the year 2025. Rapid expansion of the construction and automotive sectors is fueling the demand for painting tools in the region.
Prominent players of painting tools market include Asian Paints, Dura Paints, Gordon Brush, Nespoli Group, Mill-Rose Company, Purdy, Braun Brush, Anderson Products, Richard Tools, and Milton Brushware.
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