This report studies the global Painting Tools market size, industry status and forecast, competition landscape and growth opportunity. This research report categorizes the global Painting Tools market by companies, region, type and end-use industry.
Selbyville, DE -- (SBWIRE) -- 10/18/2018 -- Market Study Report recently introduced new title on "2017-2024 Global Painting Tools Market Report" that provides an in-depth overview of industry and competitive landscape, covering multiple market segments and elaborates market outlook and status to 2024.
Painting Tools Market size is estimated to surpass USD 14 billion by 2024;
Germany accounted over 15% of Europe painting tools market in 2016. Presence of major automobile brands including BMW, Mercedes-Benz, Volkswagen, Porsche, Opel and Audi in the country makes it a substantial contributor in European automotive industry. Russia is expected to surpass 20% of the regional industry share by 2024.
APAC painting tools market is set to witness growth over 6% through 2024. Infrastructural advancement in China, Japan and India positively stimulates product penetration in the regional industry.
Brushes are the largest selling and widely recognized product. Global production of paint brushes surpassed 440 million units in 2016. Plastic handle brush are extensively used in emerging countries, while high quality wooden handle is more popular in North America and Europe.
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Rising population, ongoing industrialization, expanding foreign investment funding across developing economies will fuel the painting tools market. Globally, construction industry is projected as one of the most lucrative industries in the coming years and is forecast to have 4.5% growth rate in next five years.
Rising demand for corrosion resistant and attractive textures in residential & commercial building are the preliminary factors driving painting tools demand. Increasing architectural paint & coatings application in commercial buildings to enhance aesthetic appearance will boost product penetration.
Rise in the global purchasing power parity from USD 13,100 in 2013 to USD 15,800 in 2015 provides a positive outlook for consumer goods industry. Increasing application of coatings on consumer electronics products will stimulate demand.
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Demand from automotive industry contributed over USD 550 million in 2016. Rising demand for luxury vehicles including Cadillac, Infiniti, Maserati Ghibli, Jaguar, Range Rover, Rolls-Royce, Porsche and Bentley has encouraged vehicle manufacturers to utilize spray guns for vehicle coatings. Additionally, appealing finishing of vehicles is accredited to usage of modern coating tools including trowels and sanding coat equipment.
Prominent manufacturers in painting tools market include Gordon Brush, Braun Brush, Purdy, Anderson Products, Mill-Rose Company and Milton Brushware. Other significant manufacturers are Allway, Nespoli Group, Harbor Freight, EPOS Egypt, Shawky Brush & Roller Factory, Makinah, Dura Paints, MAAN and Nour Egypt.
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Related Report
Global Painting Tools Market Professional Survey Report 2018
Global Painting Tools Market Size, Status and Forecast 2025 provides Market information about Manufacturers, Countries, Type and Application. This Industry report also states Company Profile, sales, Painting Tools Market revenue and price, market share, market growth and gross margin by regions.
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