Selbyville, Delaware, Nov. 24, 2020 (GLOBE NEWSWIRE) --
Global Market Insights, Inc. has recently added a new report on painting tools market which estimates the global market valuation for painting tools will cross US$ 12 billion by 2026. Upsurge in infrastructural investments and growth in construction industry to drive painting tools industry growth.
Painting tools are manufactured using a variety of raw materials depending upon the applications they are to be used along with the price the customer will be paying for the product. This includes nylon, polyester, polypropylene, stainless steel, lamb’s wool, and foam rollers. Investment in painting tools is increasing owing to rising GDP. Moreover, favorable government policies are positively influencing product demand. Most of the material used in manufacturing painting tools includes synthetic products. Overall cost structure denotes raw material contributing 25% of over cost.
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Technology and innovation in painting tools have witnessed an upsurge owing to requirements such as user-friendly application, low wastage of product, easy cleaning, and reusing of the tools and reducing the work effort of the laborers. In addition to this, innovations are made regarding reducing the overall setup of the spray-painting and making it portable. Spray painting is widely utilized in applications such as automotive, appliances, and furniture. The requirement of better coating in high industrial requirements has witnessed increased investment in research and development of products.
In the wake of the COVID-19 pandemic, the construction industry witnessed initial shortfalls, halts, and diversion of funds. As the virus is highly contagious in nature, government-imposed stringent lockdown procedures in several regions, which resulted in a surge in essential buying and in some countries completely halted the essential and non-essential construction work. During the first two quarters of 2020, the manufacturer’s industrial output of construction and automotive declines sharply, decreasing demand for the painting tools. However, with the establishment of new guidelines and resumption of construction work, demand for painting tools is expected to rebound.
Spray guns will witness around 5% CAGR through 2026. Painting professionals applying paints to appliances and working on high-speed applications along with decorating the appliances are the key application area for spray guns. Easy replacement of parts along with effortless cleaning after usage are the key benefits of spray guns. The Large capital requirement in the spray guns as compared to other counterparts and consumer unawareness are the factors challenging the overall product growth.
The painting tools market from furniture industry is poised to observe growth rate of around 4.5% from 2020 to 2026. Furniture applications are mainly done using two techniques spray and dip techniques. Easy drying with reduced processed treatment time is the key factor for overall growth. Industry players are focusing on minimizing the overall process time. Furniture requires less contaminant resistance and is done using a combination of tools with the reliability of the process and low consumption. Furniture also requires refurbishing and new product paint.
Browse key industry insights spread across 245 pages with 199 market data tables & 12 figures & charts from the report, “Painting Tools Market Share & Forecast, 2020 – 2026” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/painting-tools-market
Latin America painting tools market size will witness significant growth during the forecast time frame. The region is characterized by the presence of investors looking to diversify their real estate portfolio. This factor is expected to increase construction spending for offices and residential sectors. Increasing construction spending for affordable housing programs coupled with industrial development initiatives in Brazil, Mexico, and Argentina is expected to drive Latin America painting tools market growth.
Some major findings of the global painting tools market report include:
- Rapid urbanization in developing economies.
- Increasing car ownership is emerging European and Asian nations.
- Rising renovation activities in developed regions such as North America and Europe.
- Strategic mergers and acquisition by industry participants to expand regional presence.
- Major painting tools market players include Gordon Brush Mfg. Co., Inc., The Mill-Rose Company, Braun Brush Co, Purdy, Milton Brushware, Anderson Products, Harbor Freight Tools, Allway Tools, EPOS Egypt, Durapaints, Asian Paints, Nespoli Group, MAAN, NOUR Trading House Inc., and Richard Tools.
Browse complete reports table of contents (ToC): https://www.gminsights.com/toc/detail/painting-tools-market
Partial chapters of report table of contents (TOC):
Chapter 3 Painting Tools Industry Insights
3.1 Industry segmentation
3.2 Industry ecosystem analysis
3.2.1 Raw material suppliers
3.2.2 Manufacturers
3.2.3 Profit margin trends
3.2.4 Distribution channel analysis
3.2.4.1 B2B
3.2.4.2 B2C
3.2.5 End-users
3.2.6 Vendor matrix
3.3 Industry best practices & key buying criteria
3.4 Regional Analysis
3.4.1 Pricing Analysis, 2016 –2026
3.4.1.1 North America
3.4.1.2 Europe
3.4.1.3 Latin America
3.4.1.4 APAC
3.4.1.5 MEA
3.4.2 Cost structure analysis,2016 –2026
3.5 Regulatory landscape
3.6 Industry impact forces
3.6.1 Growth drivers
3.6.1.1 Rising construction of commercial & residential buildings
3.6.1.2 Expansion in global automotive industry
3.6.2 Industry pitfalls & challenges
3.6.2.1 Lack of availability of skilled labor
3.7 Growth potential analysis, 2019
3.8 Global paints & coatings market outlook (Parent market overview)
3.8.1 Trends
3.8.2 SWOT analysis
3.8.3 Customer requirements
3.9 Innovation & sustainability
3.10 Porter's analysis
3.11 Company market share analysis, 2019
3.11.1 Market share analysis, 2019
3.11.2 Strategy dashboard
3.12 PESTEL analysis
Browse related report:
Paint Rollers Market Size By Product (Woven [Synthetic, Blended], Knit [Synthetic, Blended]), By Fabric (Synthetic [Nylon, Polyester], Blended [Polyester, Wool]), By Pile Depth (Shorter Pile, Medium Pile, High Pile), By Application (Construction [Residential, Commercial], Appliances, Furniture), Industry Analysis Report, Regional Outlook, Application Potential, Price Trend, Competitive Market Share & Forecast, 2018 – 2025
https://www.gminsights.com/industry-analysis/paint-rollers-market
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision-making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.