Painting Tools Market 2019-25 | Asian Paints, Harbor Harbor Freight Tools.
Additionally, surging demand of paints from the automobiles sector due to the increased annual production of the vehicles will further propel the market share across the region over the projected timeframe.
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Increasing demand for the modern painting tools due to its easy availability, consumer-friendly, and low-cost features as compared to the other conventional equipments will foster new opportunities for the painting tools market growth. Factors such as improved aesthetic appeal of walls, less wastage of paints, and ease in paint application on walls & ceilings will enhance the industry landscape. In addition, rising per capita income of the consumers owing to the significant development in the overall GDP of the countries will further enhance the business expansion.
Rise in construction of smart commercial buildings along with shifting trend towards visibly striking textures smart homes, fueling the need for rollers and spray guns owing to their large surface area coverage. Positive application outlook providing smooth finish which improves the overall aesthetic appearance, also propelling the business growth. Furthermore, increasing DIY in painting is becoming popular particularly among developed economies such as U.S. and Europe which in return will foster myriad of opportunities for the overall painting tools market
Stringent regulations & norms pertaining to the increased usage of water-based paints for the significant reduction of VOC emissions in several manufacturing processes will provide positive scope for the painting tools market growth. Additionally, rising awareness of poison free environment along with initiatives by Centre for Science and Environment has supported in regulating standards on usage on paintings and coatings in India, thus driving the business growth.
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Scrapers product will observe significant gains exceeding 5.5% in the global painting tools market over the projected time period. Scrapers are majorly used for trueing a surface or for a particular decorative finish. Rapid growth in the construction activities across the developing countries such as UAE, South Africa, and Saudi Arabia owing to the increasing population and growing trends in the home d?cor segment will promulgate the product scope in the industry.
Furniture application is anticipated to surpass USD 900 million by 2025 in the overall painting tools market over the forecast period. Growing demand for the household & institutional furniture owing to the changing home decorations and interior design trends will provide positive scope for the segment growth. Additionally, escalating furniture demand in houses and other commercial buildings for making comfortable living & working environment will further proliferate the application scope in the overall market.
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Painting tools market is highly competitive in nature owing to the presence of several global and regional players. Major companies present in the industry include Asian Paints, Gordon Brush, Dura Paints, and Nespoli Group. Other prominent players include Mill-Rose Company, Braun Brush, Purdy, Anderson Products, Milton Brushware, and Richard Tools. The leading companies are making significant investments in certain technological & innovative advancements for strengthening their foothold in the overall painting tools market across the globe. Mergers & acquisitions, joint ventures, strategic collaborations, and product enhancements are the among the major strategies that are adopted by the key industry players. For instance, on 21st March 2019, Gordon Brush announced the acquisition of Spectrum Paint Applicator Corp., a leading producer of consumer & industrial paint brushes.
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