Pune, India, Aug. 09, 2022 (GLOBE NEWSWIRE) --
The global painting tools market size is set to grow at a significant rate during the forecast timeline, propelled by rising investments in infrastructure development projects. Urbanization and industrialization have been the key factors contributing to the demand for high-tech painting tools. The automotive sector is growing at a commendable pace with robust demand for two- and four-wheelers. Below mentioned are some of the prominent region-wise trends improving market forecast:
- Asia Pacific (regional valuation to cross USD 5.95 billion by 2028):
Paintbrushes witness strong demand among end-user industries:
Asia Pacific painting tools market size from the brushes segment is estimated to record a 6% CAGR during the forecast period of 2022-2028. Bristle brushes are generally produced using either synthetic or natural materials. As more customers are opting for eco-friendly products, the demand for synthetic bristle brushes will rise.
The main benefits of using synthetic brushes include smoother finish, affordable, easier & faster application, and free from animal cruelty. The preference for reusable painting tools is also increasing among clients, thereby fueling the product adoption.
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Painting tools widely used in construction sector:
APAC industry revenue from the construction sector application will reach USD 4.27 billion by 2028. Factors, including growing population, rapid urbanization, and surge in the demand for residential structures have played a vital role in the strong expansion of the region’s construction industry.
Governments across Asia Pacific have started introducing affordable housing schemes and policies, thereby improving the sales of painting tools. For example, in 2022, the Government of China announced plans to build millions of budget-friendly rental housings by 2025 to promote the idea of common prosperity.
India painting tools market size will grow:
India industry value is set to exceed USD 1.16 billion by 2028. The country has a large presence of reputed construction & real estate companies and their production facilities. The government has launched favorable economic policies to promote the concept of affordable housing.
For instance, in 2020, India’s Ministry of State, Housing and Urban Affairs announced the implementation of incentives, such as free Floor Space Index, concessional project finance, and free-of-cost trunk infrastructure facilities.
These benefits were declared to encourage clients to participate in Affordable Rental Housing Complex schemes for the urban underprivileged and migrant populations. Such initiatives will boost the production of painting tools across the country.
- Europe (regional valuation will exceed 3.63 billion by 2028)
Spray guns will offer even surface coating benefits:
Europe painting tools market size from the spray gun segment will register around 3.9% CAGR through 2028. These guns provide an appealing finish to any vehicle or building component because they offer an even-surface coating.
Spray guns are also undergoing several technological advancements to enhance their accuracy and performance while painting different types of surfaces. For instance, portable electric spray guns are becoming popular among residential as well as commercial end-users as they can be moved easily from one place to the other. They work on rechargeable batteries, which will further boost their demand among customers.
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Europe’s automotive sector shows promising growth:
Europe industry revenue from the automotive sector application is expected to cross USD 230 million by 2028. The region is considered one of the leaders in automotive technologies and innovations because of the presence of renowned carmakers. The number of on-road vehicles is increasing every year, thereby amplifying the demand for advanced painting tools.
Italy industry forecast improves:
Italy painting tools market value will surpass USD 390 million by 2028. The nation’s automotive sector is one of the key contributors towards its economic progress. Italy also has a notable presence of reputed car manufacturers, such as Lamborghini, Maserati, and Ferrari.
This scenario shows the rising percentage of the country’s super-rich population, further bolstering the adoption of innovative painting tools as high-paying customers will demand quality paintjob for their vehicles.
- North America (regional valuation will exceed USD 2.25 billion by 2028)
Strong rise seen in furniture production:
North America painting tools market share from the furniture sector application will exceed USD 140 million in valuation by 2028. The demand for uniquely designed furniture is growing among the region’s urban population. There are many painting tools available that can be used to paint a variety of furniture pieces, giving customers ample choices to choose from.
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Demand for paint rollers grows:
North America industry will witness a volumetric sale of more than 60 million units by 2028. The region has a vast pool of top paint manufacturers as well, which will increase the sales of high-quality painting tools like paint rollers.
This type of painting tool is great for applying a uniform, even, and thin coating to well-prepared ceilings, walls, and furniture pieces. Since most rollers consist of a porous surface, they have a much better paint holding capacity as compared to other products, thereby positively strengthening their demand among customers.
Canada painting tools market share increases:
Canada industry will showcase commendable progress over the coming years as there is high awareness among customers regarding the benefits of using eco-friendly paints & coatings.
The number of green building initiatives is also growing across the country to reduce the carbon emission levels of its construction sector, accelerating the production of sustainable yet high-quality painting tools.
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