Painting Tools: Navigating the Global Market Dynamics in 2024

The painting tools market size has grown strongly in recent years. It will grow from $11.84 billion in 2023 to $12.98 billion in 2024 at a compound annual growth rate (CAGR) of 9.6%. The growth in the historic period can be attributed to rapid urbanization, commercial and residential building renovations, government spending on construction, social and economic development.

The painting tools market size is expected to see strong growth in the next few years. It will grow to $18.48 billion in 2028 at a compound annual growth rate (CAGR) of 9.2%. The growth in the forecast period can be attributed to rising demand for eco-friendly painting tools, growing renovation of commercial and residential buildings, housing market growth, consumer preferences. Major trends in the forecast period include innovation in paint formulations, technological advancement, increasing collaborations, advanced paint formulations.

Market Overview -
Painting tools refer to handheld tools that are used to perform painting tasks with minimal wastage of paints and materials. It is used primarily during industrial manufacturing processes and renovation applications.

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Renovation Boom Fuels Growth In The Painting Tools Market
The increasing renovation of commercial and residential buildings is expected to drive the growth of the painting tools market going forward. Renovation is the process of renovating and modifying an old and defective structure to return it to its prior better state. Painting tools aid in the completion of numerous painting tasks such as wall cleaning, scraping loose paints, wiping rust from metal surfaces, and others. For instance, in December 2023, according to the Joint Center for Housing Studies (JCHS), a US-based university research center, individuals in America spent $363 billion on home improvements, renovations, and repairs in 2020 and $406 billion in 2021, marking an 11.8% increase from previous year. Therefore, the increasing renovation of commercial and residential buildings is expected to propel the growth of the painting tools market.

Competitive Landscape -
Major companies operating in the painting tools market report are Gordon Brush Mfg. Co Inc., The Sherwin-Williams Company, Asian Paints Limited, MAAN Group, Premier Industrial Corporation, Linzer Products Corporation, J. Wagner GmbH, Peta Decorating Ltd, Wooster Brush Company, JAT Holdings PLC, Paint Brush Corporation, Hyde Tools Inc., Nespoli S.p.A., Warner Manufacturing Company, Dynamic Paint Products Inc., Magnolia Brush Manufacturers Ltd., Richard Carter Limited, Allway Tools Inc., Makinah, Shur-Line Manufacturing Company, Technochem Industries, Corona Brush Manufacturing Company Inc., Harris Brushes Limited, Nour Trading House Inc., Dura Paints (Pty) Ltd, EPOS Egypt, Pro Roller Company Inc., Arroworthy Limited, Milton Brushware Inc., Purdy Corporation, Trimaco LLC

Technological Advancement Drives Innovation In The Painting Tools Market
Technological advancement is the key trend that is gaining popularity in the painting tools market. Major companies operating in the market are focused on developing advanced innovations such as DIY (do it yourself) solutions to increase their market share. For instance, in April 2022, AkzoNobel India, an India-based company operating in paints and coatings, launched Dulux Simply Refresh, a complete range of DIY (do it yourself) solutions under three categories - decorative paints, repair solutions, and painting kits. Dulux simply refresh spray paint is a user-friendly aerosol with low drip and low splatter technology that provides a gloss finish to all pre-painted surfaces, quick drying formulation, and waterproofing properties.

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Key Segments -

The painting tools market covered in this report is segmented -

1) By Product: Brushes, Rollers, Scrapers, Knives, Trays, Spray gun, Masking tapes, Other Products
2) By Application: Construction, Appliances, Automotive, Industrial Equipment and Machinery, Furniture, Packaging, Other Applications
3) By Distribution Channels: Online Channel, Offline Channels

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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