Press release
Paint Rollers Market Size to Register USD 3 Billion During the Period 2017-2024
Increasing structural reforms plans along with adoption of more enhanced painting equipment will drive Paint Rollers Market demand. Institutional buildings expansion including hotels, colleges and hospitals will fuel product penetration. Global paint rollers market is estimated to surpass USD 3 billion by 2024, according to this new research report. Government's support by offering tax deductions and favorable FDI policies will propel new business spaces construction.
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Demographic developments and requirement of new housing in North America owing to a large percentage of the population reaching child bearing age will support new housing developments, hence enhancing product demand. U.S. construction spending is projected to reach USD 1.5 trillion by 2020 from USD 1.2 trillion in 2015, representing an annual growth of over 6%. Moreover, growing number of public private partnerships projects for infrastructure development will support the paint rollers market growth.
Shift in consumer trends towards coated wood & furniture to increase product life will facilitate industry growth. Standardized painting in less time along with minimal wastage is among the key properties driving product demand in the furniture industry.
Woven paint rollers market accounted for over 40% of the industry demand and is projected to witness over 4% CAGR up to 2024. Factors such as increased smoothness and lint-free results with all types of coats are anticipated to propel product growth. However, high paint rollers market price trend may limit the industry growth in the short term.
Synthetic fabrics accounted for over 45% of the paint rollers market share in 2016. Economical cost along with high strength compared to natural fabrics are key factors supporting product demand. Largely, polyester, nylon or combination of two are widely used. Quality level may vary significantly within the category, from the low-end economy model to high end cover designed for the professional coating contractors.
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Shorter pile is anticipated to be the fastest growing segment and accounted for 25% of the paint rollers market demand in 2016. Ease of application and affordability are expected to be the key factors driving product demand over the projected timeframe. In addition, improved design for achieving fine finishes will enhance the product penetration.
Construction application accounted for more than 80% of the global demand in 2016. Renovation of public and private buildings, mainly poorly insulated structures and deprived houses will provide lucrative opportunity for industry manufacturers.
Asia Pacific paint rollers market will witness gains at over 5.5% CAGR. Rapid infrastructural development owing to strong economic growth in India, Australia, and China will stimulate regional demand. Upgrading healthcare facilities to deal with geriatric population will drive product penetration in China.
North America paint rollers market was valued at over USD 300 million in 2016. Low inflation rate along with reducing fiscal tightening is expected to fuel construction spending in the region. Thus, driving product sales over the forecast timeline.
Global industry share is highly fragmented in nature. The key manufacturers in paint rollers market are Gordon Brush, Purdy, Anderson Products, Richard Tools, Mill Rose and Hyde Tools. Companies are adopting various strategies including, expansion of manufacturing capacity, new product launch, agreements and collaborations to capture a major industry share and increase customer base.
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