Painting Tools Market to hit US$ 13.5 billion by 2028, Says Global Market Insights Inc.

SELBYVILLE, Del., Feb. 16, 2022 /PRNewswire/ -- The painting tools market is expected to surpass USD 13.5 billion by 2028, as reported in a research study by Global Market Insights Inc. The demand for painting tools is likely to grow at a decent rate worldwide owing to large automotive production, vehicle parc, and significant investments in the construction sector.

The commercial segment is anticipated to acquire over 15% share of the construction painting tools market share by 2028, in terms of volume. Increasing infrastructure projects along with steady support from public-private partnerships are the key driving factors in the commercial construction industry growth. Moreover, North America is witnessing a staggering increase in the construction of non-residential buildings such as lodging, office, commercial, healthcare, public safety, and educational institutes.

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The panting trays market segment will observe around 4% CAGR through 2028. Trays are used during painting for providing convenience when brushing inside corners and cutting in along the ceiling. Now days trays are available in reusable plastics that can hold paint for brushes and rollers. It also allows even paint application on rollers, thus providing a superior finish, which will expand the industry growth.

The Asia Pacific painting tools market is set to witness a growth rate of over 5% till 2028. Infrastructural advancements in China, Japan, and India are positively stimulating product penetration in the regional industry. Infrastructural developments in the commercial & industrial sectors of China are expected to witness healthy growth. An upsurge in residential building projects in emerging countries is further contributing to the growth. The rising government spending on advanced and green infrastructures is likely to present potential growth opportunities in the coming years. Untapped potential coupled with escalated foreign investments is expected to drive construction spending in the region over the next seven years.

Prominent participants in the painting tools industry are launching new products to enhance their product offerings. For instance, in January 2019, Purdy launched its new line of brushes at Sherwin-Williams Stores.

Some major findings of the painting tools market report include:

• The ongoing COVID-19 pandemic may force many painting tool manufacturers to lower the price of their products. Moreover, many tier-I market players are focusing on consolidating their capacities rather than expanding for the short-term to preserve cash.
• Increasing applications of decorative paints and industrial protective paints are expected to fuel the market demand. Products with decorative designs are expected to witness high demand; hence, increasing product penetration. Moreover, the increasing demand for wood & furniture coatings is expected to further escalate the product scope.

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Partial chapters of report table of contents (TOC):

Chapter 2 Executive Summary

2.1  Global Painting Tools industry 360° synopsis, 2018 – 2028

2.1.1  Business trends

2.1.2  Product trends

2.1.3  Application trends

2.1.4  Regional trends

Chapter 3 Global Painting Tools Industry Insights

3.1  Industry segmentation

3.2  Industry landscape, 2018 – 2028

3.2.1  COVID-19 impact on industry landscape

3.3  Industry ecosystem analysis

3.4  Industry best practices and key buying criteria

3.5  Future trends including COVID-19 impact

3.6  Pricing analysis (including COVID-19 impact)

3.7  Regulatory landscape

3.8  Industry impact forces

3.8.1  Growth drivers

3.8.2  Industry pitfalls & challenges

3.9  Growth potential analysis, 2020

3.10  Global paints & coatings market outlook

3.11  Raw material trends

3.12  Innovation & sustainability

3.13  Porter's analysis

3.14  Company market share analysis, 2020

3.15  PESTLE analysis

About Global Market Insights

Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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SOURCE Global Market Insights Inc.