Painting Tools Global Market Report 2024

Painting tools are handheld implements utilized for efficient painting, minimizing paint and material wastage. They play a significant role in industrial manufacturing processes and renovation projects, aiding in precise and effective application of paint.

Painting tools encompass a variety of product types, with key categories including brushes, rollers, scrapers, knives, trays, spray guns, masking tapes, and others. Brushes, characterized by bristles, are employed to apply paint on surfaces and find applications in construction, appliances, automotive, industrial equipment and machinery, furniture, packaging, and other sectors. These tools are distributed through both online and offline channels to cater to diverse consumer needs.

The painting tools market research report is one of a series of new reports from The Business Research Company that provides painting tools market statistics, including painting tools industry global market size, regional shares, competitors with a painting tools market share, detailed painting tools market segments, market trends and opportunities, and any further data you may need to thrive in the painting tools industry. This painting tools market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The painting tools market size has grown strongly in recent years. It will grow from $11.84 billion in 2023 to $12.98 billion in 2024 at a compound annual growth rate (CAGR) of 9.6%. The growth observed in the historical period can be attributed to rapid urbanization, renovations in commercial and residential buildings, government spending on construction projects, and overall social and economic development.

The painting tools market size is expected to see strong growth in the next few years. It will grow to $18.48 billion in 2028 at a compound annual growth rate (CAGR) of 9.2%. The anticipated growth in the forecast period can be attributed to the increasing demand for eco-friendly painting tools, the growing trend of renovating commercial and residential buildings, the expansion of the housing market, and evolving consumer preferences. Major trends in the forecast period include innovations in paint formulations, technological advancements, increasing collaborations, and the development of advanced paint formulations.

The anticipated surge in the renovation activities for both commercial and residential buildings is poised to be a significant driver for the growth of the painting tools market in the foreseeable future. Renovation, involving the restoration and modification of aging structures, necessitates the use of various painting tools to accomplish tasks such as wall cleaning, scraping loose paints, and rust removal from metal surfaces, among others. As of December 2023, data from the Joint Center for Housing Studies (JCHS), a US-based university research center, reveals a noteworthy trend in American households' expenditures on home improvements. In 2020, individuals in the United States allocated $363 billion for home improvements, renovations, and repairs, a figure that escalated to $406 billion in 2021, indicating an impressive 11.8% year-on-year increase. This robust growth underscores the increasing inclination towards enhancing and maintaining residential and commercial properties, thereby contributing to the upswing in the demand for painting tools.

The anticipated upswing in automotive production is poised to be a key catalyst for the expansion of the painting tools market in the coming years. Automotive production, encompassing the manufacturing of various vehicles such as cars, trucks, motorcycles, and other motor vehicles, relies extensively on painting tools for crucial applications. These tools are instrumental in applying protective coatings, enhancing aesthetic appeal, and ensuring the durability of vehicle surfaces. They play a pivotal role in contributing to corrosion resistance, facilitating color customization, and upholding overall product quality. As of May 2023, reports from the European Automobile Manufacturers Association (ACEA), a Belgium-based association representing automobile manufacturers, indicate a global production of 85.4 million motor vehicles. This figure reflects a notable 5.7% increase compared to the production levels observed in 2021. Consequently, the surge in automotive production stands as a driving force behind the growth trajectory of the painting tools market.

Technological advancement is a prominent trend gaining momentum in the painting tools market, with major companies concentrating on the development of cutting-edge innovations, particularly in the realm of do-it-yourself (DIY) solutions, to expand their market share. A case in point is AkzoNobel India, an India-based company specializing in paints and coatings. In April 2022, the company introduced Dulux Simply Refresh, an all-encompassing range of DIY solutions encompassing decorative paints, repair solutions, and painting kits. Dulux Simply Refresh spray paint, within this range, stands out as a user-friendly aerosol incorporating low drip and low splatter technology. This innovation ensures a gloss finish on all pre-painted surfaces, boasts a quick-drying formulation, and features waterproofing properties. AkzoNobel's launch of Dulux Simply Refresh exemplifies its strategic focus on leveraging technological advancements, catering to the growing demand for DIY solutions, and thereby enhancing its market presence.

Major companies within the painting tools market are increasingly adopting a strategic partnership approach to jointly develop sustainable painting tool technology, particularly for vehicle manufacturing. A strategic partnership involves a collaborative agreement or alliance between two or more entities, such as companies, organizations, or governments, with the goal of achieving mutually beneficial objectives. A notable example occurred in July 2023 when Durr AG, a Germany-based engineering company, entered into a strategic partnership with Mercedes-Benz Group AG, a Germany-based automobile company. The primary objective of this collaboration is to achieve a significant reduction in energy consumption per painted car body. The partnership aims to accomplish this goal by leveraging energy-efficient tools and implementing climate-neutral technologies, such as the intelligent operation of paint booths and car body ovens. This strategic alliance exemplifies a concerted effort to drive sustainability and efficiency in the painting tools sector, showcasing the industry's commitment to innovative and eco-friendly solutions.

In June 2021, PPG Industries Inc., a U.S.-based company specializing in paints, coatings, and specialty materials, including painting tools, successfully acquired Tikkurila Oyj for an undisclosed amount. This strategic acquisition was aimed at enhancing PPG Industries' product portfolio in the painting tools segment. Tikkurila Oyj, based in Finland, operates in the paints, lacquers, and painting tools industry.

Major companies operating in the painting tools market report are Gordon Brush Mfg. Co. Inc., The Sherwin-Williams Company, Asian Paints Limited, MAAN Group, Premier Industrial Corporation, Linzer Products Corporation, J. Wagner GmbH, Peta Decorating Ltd., Wooster Brush Company, JAT Holdings PLC, Paint Brush Corporation, Hyde Tools Inc., Nespoli S.p.A., Warner Manufacturing Company, Dynamic Paint Products Inc., Magnolia Brush Manufacturers Ltd., Richard Carter Limited, Allway Tools Inc., Makinah, Shur-Line Manufacturing Company, Technochem Industries, Corona Brush Manufacturing Company Inc., Harris Brushes Limited, Nour Trading House Inc., Dura Paints (Pty) Ltd., EPOS Egypt, Pro Roller Company Inc., Arroworthy Limited, Milton Brushware Inc., Purdy Corporation, Trimaco LLC

Asia-Pacific was the largest region in the painting tools market share in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the painting tools market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the painting tools market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The painting tools market consists of sales of roller frames, paint edgers, drop cloths and paint buckets. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Painting Tools Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on painting tools market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

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Where is the largest and fastest growing market for painting tools ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The painting tools market global report from the Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

• The market characteristics section of the report defines and explains the market.
• The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
• The forecasts are made after considering the major factors currently impacting the market. These include:

The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.

The impact of higher inflation in many countries and the resulting spike in interest rates.

The continued but declining impact of covid 19 on supply chains and consumption patterns.

• Market segmentations break down the market into sub markets.
• The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
• The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
• The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.

Scope

Markets Covered:

• 1) By Product: Brushes; Rollers; Scrapers; Knives; Trays; Spray gun; Masking tapes; Other Products
• 2) By Application: Construction; Appliances; Automotive; Industrial Equipment and Machinery; Furniture; Packaging; Other Applications
• 3) By Distribution Channels: Online Channel; Offline Channels
• Companies Mentioned: Gordon Brush Mfg. Co. Inc.; The Sherwin-Williams Company; Asian Paints Limited; MAAN Group; Premier Industrial Corporation
• Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
• Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
• Time series: Five years historic and ten years forecast.
• Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
• Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
• Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
• Delivery format: PDF, Word and Excel Data Dashboard.