Global Painting Tools and Accessories Market 2019-2023 | Increasing Popularity of Superfruits to Boost Growth | Technavio

Technavio has published a new market research report on the global painting tools and accessories market from 2019-2023. (Graphic: Business Wire)

LONDON--()--The global painting tools and accessories market is expected to post a CAGR close to 6% during the period 2019-2023, according to the latest market research report by Technavio.

A key factor driving the growth of the market is the increasing number of infrastructure projects. This increase can be primarily attributed to the growth of the population and regulatory support from various government authorities for building projects. Further, some countries are also increasing their construction spending to address the needs of the people. As a result of this increase in the number of residential and non-residential construction projects across the world, the demand for paints has grown exponentially. Moreover, the need for wall textures that are corrosion resistant, artful, and colorful is also increasing. The gaining popularity to enhance the exteriors of commercial buildings to improve aesthetics will also increase the requirement for paints, thereby stimulating the use for painting tools and accessories over the forecast period.

As per Technavio, the rising adoption of eco-friendly painting tools will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global painting tools and accessories market 2019-2023 research report also analyzes other significant trends and market drivers that will affect market growth over 2019-2023.

Global painting tools and accessories market: Rising adoption of eco-friendly painting tools

Low volatile organic compound (VOC) and environmentally friendly paints have been used widely by end-users due to the focus on reducing environmental pollution. Along with the emphasis on the reduction of pollution related to paints, a focus on painting tools such as brushes, rollers, tarps, and cleaning solutions that can pollute the environment if they are not disposed of properly is also essential. Hence, the vendors have shifted their focus to eco-friendly painting tools. For instance, Kwick Clean and Green offers painting brushes with replaceable bristle packs. Furthermore, Warner Manufacturing Co. offers biodegradable products such as scrapers and paint mixers, which are made of products such as tapioca and potato starch instead of plastics. Such a rise in the availability of eco-friendly painting tools will eventually increase the demand for such tools during the forecast period.

“Apart from the rising adoption of eco-friendly tools, other factors such as increase in number of DIY consumers, the growth of automotive industry, and the rising use of painting tools in consumer electronics, are expected to drive the growth of the global market during the forecast period,” says a senior analyst at Technavio.

Global painting tools and accessories market: Segmentation analysis

This market research report segments the global painting tools and accessories market by product (brushes, rollers, spray guns, scrapers, and others) and geographical regions (North America, Europe, APAC, MEA, and South America).

The North American region led the market in 2018, followed by Europe, APAC, MEA, and South America, respectively. However, during the forecast period, the APAC region is expected to register the highest incremental growth due to the growth of the commercial and residential construction sector and the rising investments in infrastructure development in the region.

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Some of the key topics covered in the report include:

Market Landscape

  • Market ecosystem
  • Market characteristics
  • Market segmentation analysis

Market Sizing

  • Market definition
  • Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

  • Regional comparison
  • Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Competitive scenario

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Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
www.technavio.com

Release Summary

The global painting tools and accessories market is expected to post a CAGR close to 6% during the period 2019-2023, according to Technavio.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
www.technavio.com