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Painting Tools Market Research, Size, Forecast to 2033: A Comprehensive Analysis
Painting Tools Market Research
As per the report, 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 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%.
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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.
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.
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
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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
Contents of the report:
1. Executive Summary
2. Painting Tools Market Report Structure
3. Painting Tools Market Trends And Strategies
4. Painting Tools Market - Macro Economic Scenario
5. Painting Tools Market Size And Growth
…..
27. Painting Tools Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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