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Asia Pacific Painting Tools Market Size, By Application (Construction [Residential, Commercial, Industrial], Automotive, Appliances, Furniture, Industrial Machineries & Equipment, Packaging), By Product (Brushes, Rollers, Scrapers, Knives, Trays, Spray Gun, Masking Tapes), Industry Analysis Report, Country Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026
Published Date: January 2021 | Publisher: Graphical Research Report ID: GR1612 | Delivery : PDF  Request Free Sample

Industry Trends

Asia Pacific Painting Tools Market Share was USD 4,422.2 million in 2019 and will grow at a CAGR of 5.6% up to 2026.
 

Asia Pacific Painting Tools Market

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The Asia Pacific market will witness growth owing to infrastructural advancements in emerging nations including China, India, Indonesia, and Thailand, positively driving the penetration of painting tools in the region. Infrastructural development in the region along with rapidly growing auto sector in China is also expected to showcase significant growth. An upsurge in residential project investments from emerging nations will also positively impact the industry expansion. India’s construction output is expected to grow at 7.1% each year until 2025. The rising government spending on infrastructure projects will present high potential growth opportunities for construction equipment.

Increasing foreign investments is driving industrial spending in the region and supporting the overall painting tools demand. The growing packaging industry in South Korea, Malaysia, and Japan owing to the rapidly advancing industrial sector and growing consumer demand is expected to drive market growth in the region. Low labor & associated costs coupled with attractive investment policies in these nations are also anticipated to drive foreign investments. A dramatic increase in public construction spending coupled with promising economic growth will further push business toward a growth trajectory.

The increasing COVID-19 cases has significantly disrupted new construction activities, thereby affecting the Asia Pacific painting tools industry at a significant level. This weak demand scenario has majorly affected Asia Pacific due to evolving priorities of expenditure toward essential infrastructure and needs. The imposition of temporary lockdowns has resulted in disruption in production and trade activities. However, the market is expected to rebound owing to continuous government measures and stimulus introduction to various construction & associated markets.

Based on the product, the Asia Pacific market is segmented into rollers, brushes, scrapers, trays, and knives. Brushes are among the most widely used products in painting tools and will generate over USD 600 million by 2026. Bristles in brushes are manufactured using synthetic and natural materials, which include boar hairs and natural hog bristles, while synthetic bristles are typically manufactured from nylon. Depending on the application, the product is selected with the required bristle size. The brush size ranges from 1 - 4 inches and is made for designated paint jobs involving various kinds of paints.

The growing construction segment is the key factor boosting the industry growth. The Asia Pacific market is dominated by the construction application segment and accounted for over 70% share in 2019. Asia Pacific led by China, India, Japan, and Indonesia is expected to dominate the overall painting tools demand. The ever-growing population with increasing demand for construction will drive business demand. The other factor boosting product demand is the promotion of affordable housing projects by the governments. For instance, a capital infusion of USD 271 million in 2020 toward incomplete affordable housing projects in India is set to support affordable housing projects in Asia. Amidst rapid urbanization, the surging construction of new cities to accommodate the increasing urban population is also another factor contributing to the painting tools demand.

China holds around 50% share in the market. The surging demand for consumer-oriented construction will drive the painting tools market demand. China is also rapidly increasing its investments in infrastructure by exporting its construction products & services into major global markets. This will provide new avenues for the industry in the country.

The key players in the industry include Asian Paints, Vishwakarma Impacts, Zhenjiang Jinxing Brush Products Co., Ltd., Jiangsu B-Line Tools Co., Ltd., Maru-T Ohtsuka Corp., Décor India, Prem Brush Factory, and Hylite Brushware Company. Companies are increasingly focusing on research & innovation and design operations, expanding partnerships with other companies, and diversifying sales & distribution network to establish a firm presence in the market. Organizations are also engaged in establishing long-term contracts and agreements with manufacturers for continuous material supply.
 

Frequently Asked Question(FAQ) :

The market size of Asia Pacific Painting Tools was valued USD 4,422.2 million in 2019.
The industry share of Asia Pacific Painting Tools is projected to witness more than 5.6% growth rate during 2020 to 2026.
China holds around 50% share in the Asia Pacific painting tools market. The surging demand for consumer-oriented construction will drive the painting tools market demand.

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