Global Painting Tools Market worth USD 12 Bn by 2026: Global Market Insights, Inc.
Selbyville, Delaware, Nov. 24, 2020 (GLOBE NEWSWIRE) –
Global Market Insights, Inc. recently added a new report on Painting Tools Market that estimated the global Painting Tools market valuation will exceed $ 12 Billion by 2026. Increase in infrastructure investment and growth in construction industry to fuel paint tool industry growth.
Painting tools are made using a variety of raw materials depending on the applications they are to use and the price the customer pays for the product. These include nylon, polyester, polypropylene, stainless steel, lambswool, and foam rollers. Investments in painting tools are increasing due to rising GDP. In addition, favorable government policies have a positive effect on product demand. Most of the materials used in making painting tools are made up of synthetic products. The total cost structure describes the raw material that makes up 25% of the additional costs.
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Technology and innovation in painting tools have boomed due to requirements such as ease of use, low product waste, easy tool cleaning and reuse, and reduced labor for workers. In addition, innovations are being made to reduce the overall build of spray painting and make it portable. Spray painting is widely used in applications such as automobiles, appliances, and furniture. The need for a better coating with high industrial requirements has led to increased investments in research and development of products.
After the COVID-19 pandemic, the construction industry experienced initial deficits, interruptions and diversions of funds. Because the virus is highly contagious by nature, the government has imposed strict lockdown procedures in several regions that have increased essential purchases and in some countries completely halted essential and non-essential construction. In the first two quarters of 2020, the manufacturer’s industrial production in the construction and automotive sectors will decline sharply, which will reduce the demand for painting tools. However, as new guidelines are set and construction resumed, a recovery in paint tool demand is expected.
Spray guns will have a CAGR of around 5% by 2026. Paint professionals who apply paint to equipment and work on high-speed applications, as well as decorating the equipment, are the primary uses for spray guns. The easy replacement of parts as well as the effortless cleaning after use are the main advantages of spray guns. The high capital requirement on spray guns compared to other counterparts and consumer ignorance are the factors putting overall product growth in question.
The market for painting tools from the furniture industry is expected to record a growth rate of around 4.5% from 2020 to 2026. Furniture applications are performed primarily using two techniques: spray and immersion techniques. Ease of drying with reduced treatment time is the key factor for overall growth. The industry players focus on minimizing the total process time. Furniture requires lower resistance to contamination and is made with a combination of tools that ensure the reliability of the process and low consumption. Furniture also needs to be renovated and painted with new products.
Browse key industry intelligence across 245 pages with 199 market data tables and 12 illustrations and charts from the report. “Painting Tools Market Share and Forecast, 2020-2026” in detail together with the table of contents:
The market size for painting tools in Latin America will grow significantly over the forecast period. The region is characterized by the presence of investors who want to diversify their real estate portfolio. This factor is expected to increase construction spending for the office and residential sectors. Rising construction spending on affordable residential programs, coupled with industrial development initiatives in Brazil, Mexico and Argentina, is expected to drive growth in the painting tool market in Latin America.
Some Key Findings Of The Global Painting Tools Market Report Are:
- Rapid urbanization in developing countries.
- Increasing car ownership are emerging European and Asian nations.
- Increasing renovation activities in developed regions such as North America and Europe.
- Strategic mergers and acquisitions by industry participants to expand regional presence.
- Gordon Brush Mfg. Is one of the most important players in the painting tool market. Co., Inc., the Mill-Rose Company, Braun Brush Co., Purdy, Milton Brushware, Anderson Products, Port Freight Tools, Allway Tools, EPOS Egypt, Durapaints, Asian Paints, Nespoli Group, MAAN, NOUR Trading House Inc. and Richard Tools.
Search the full table of contents of reports (ToC): https://www.gminsights.com/toc/detail/painting-tools-market
Sub-chapter of the table of contents of the report (TOC):
Chapter 3 Insight into the Brush Industry
3.1 Industry segmentation
3.2 Analysis of the industrial ecosystem
3.2.1 Raw material suppliers
3.2.3 Profit Margin Trends
3.2.4 Sales channel analysis
3.2.5 End users
3.2.6 Supplier matrix
3.3 Industry best practices and key purchase criteria
3.4 Regional analysis
3.4.1 Price analysis, 2016–2026
126.96.36.199 North America
188.8.131.52 Latin America
3.4.2 Cost structure analysis, 2016–2026
3.5 regulatory landscape
3.6 Influential forces in industry
3.6.1 Growth drivers
184.108.40.206 Increasing construction of commercial and residential buildings
220.127.116.11 Expansion in the global automotive industry
3.6.2 Pitfalls and challenges in the industry
18.104.22.168 Lack of availability of qualified labor
3.7 Analysis of growth potential, 2019
3.8 Global market outlook for paints and coatings (overview of the parent market)
3.8.2 SWOT analysis
3.8.3 Customer requirements
3.9 Innovation & Sustainability
3.10 Porter Analysis
3.11 Company’s market share analysis, 2019
3.11.1 Market share analysis, 2019
3.11.2 Strategy dashboard
3.12 PESTEL analysis
Browse related report:
Paint roller market Size according to product (woven [Synthetic, Blended]Knit [Synthetic, Blended]), By fabric (synthetic [Nylon, Polyester], Mixed [Polyester, Wool]), By pile depth (shorter pile, medium pile, high pile), by application (construction) [Residential, Commercial], Household Appliances, Furniture), Industry Analysis Report, Regional Outlook, Application Potential, Price Development, Competitive Market Share and Forecast, 2018-2025
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