Global Painting Tools and Accessories Market 2019-2023
Global Painting Tools and Accessories Market: About this market
Painting tools and accessories are handheld tools that are used to facilitate the entire task of painting. Each tool is meant for a designated purpose. Technavio’s painting tools and accessories market analysis considers sales from products including brushes, rollers, spray guns, scrapers, and others. Our analysis also considers the sales of painting tools and accessories in APAC, Europe, North America, South America, and MEA. In 2018, the brushes segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as the increasing demand for painting to improve the appearance of buildings and protect them from damage will play a significant role in the brushes segment to maintain its market position. Also, our global painting tools and accessories market report looks at factors such as the increasing number of infrastructure projects, growth of the automotive industry, and rising use of painting tools in consumer electronics. However, volatility in the cost of raw materials required to manufacture painting tools, issues associated with the use of painting brushes, and wide availability of painting tools and accessories on rent may hamper the growth of the painting tools and accessories industry over the forecast period.
Global Painting Tools and Accessories Market: Overview
Increasing number of infrastructure projects
The number of residential and commercial buildings in the UAE, Saudi Arabia, India, and China is increasing with the rising need for residential construction projects. This results in increased demand and sales of painting tools and accessories. This will lead to the expansion of the global painting tools and accessories market at a CAGR of close to 6% during the forecast period.
Rising adoption of eco-friendly painting tools
The adoption of low volatile compound (VOC) and environmentally friendly paints is gaining traction with the rising environmental concerns. Similarly, vendors are introducing replaceable bristle packs to prevent environmental pollution caused by the disposing of brushes with dried paint sticking to them. The emergence of such eco-friendly products is expected to have a positive impact on the overall market growth.
For the detailed list of factors that will drive the global painting tools and accessories market during the forecast period 2019-2023, click here.
With the presence of several major players, the global painting tools and accessories market is fragmented. Technavio’s robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading painting tools and accessories manufacturers, that include Asian Paints Ltd., Gordon Brush Mfg. Co. Inc., J. Wagner GmbH, Nespoli Group Spa, and The Sherwin-Williams Co.
Also, the painting tools and accessories market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
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