The great explorer of the truth, the master-builder of human happiness no one rejects dislikes avoids pleasure itself because it is pleasure but because know who do not those how to pursue pleasures rationally encounter consequences that are extremely painful desires to obtain.Read More
APAC Painting Tools Market size to hit $5.95 Bn by 2028
Published Date: 2022-07-27
Request a sample
APAC Painting Tools Market size is poised to surpass USD 5.95 billion by 2028, according to a latest forecast report by Graphical Research.
The industry growth is estimated to come from the rising investments for infrastructure development in industrial and residential spaces. In addition, the proliferating need for smart cities and growing expenditure on construction would further support the sector expansion. For example, TEPCO Japan is working toward developing a truly smart city in Tokyo with an energy management platform that would lay the groundwork for enhanced connectivity with consumers and city infrastructure.
Continuous changes in design needs and transforming consumer preferences in styling are fueling the renovation activities in different regional economies like India, Canada, Thailand, Japan, and others. The APAC industry share is also observing demand from the thriving automobile sector in terms of domestic sales and production. The continent is observing increasing investments by automakers.
The APAC painting tools market size from the brushes product segment would exhibit a CAGR of 6% till 2028. Bristle brushes are generally manufactured using natural and synthetic materials, with the demand for synthetic materials currently gaining wide prominence in the overall market. Some of the advantages associated with synthetic bristle brushes include the ability of the product to leave a smoother finish, easy and faster application, are budget-friendly, and do not exploit animals. Shifting consumer inclination toward the reusable tools with easy cleaning features would improve the market growth.
Browse detailed statistical insights from the report, “Asia Pacific Painting Tools Market Forecast 2028 By Product (Extension Poles, Sanding Tools, Trowels, Brushes, Rollers, Scrapers, Putty Knives, Trays, Spray Gun, Masking Tapes), By Application (Construction [Residential, Commercial, Industrial], Automotive, Appliances, Furniture, Industrial Machineries & Equipment, Packaging), Research Report, Country Outlook (China, India, Japan, South Korea, Malaysia, Indonesia, Thailand), COVID-19 Impact Statistics, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share” along with the table of contents (ToC) @
The Asia Pacific painting tools market would amass profitable gains from the automotive sector through 2028, attributed to the fast-growing automotive industry in the continent, especially in the Chinese and Indian sub-continents. As per Invest India organization, the automotive sector in India contributes to 7.1% of the country’s GDP. It is anticipated to emerge as the world’s 3rd leading automotive market in terms of volume by 2030. Moreover, different leaders in the continent are taking initiatives to consolidate their positions in the regional market across the automotive sector. For example, BASF China in 2022 inked the Letter of Intent with WorldSkills 2022 Executive Bureau to develop talent in the car painting industry.
India painting tools market will reach USD 1,160 million revenue by 2028. The nation boasts the presence of several production facilities and chief construction and real-estate companies. The positive economic reforms to expand the affordable housing development would further impel the market demand. To illustrate, the Ministry of State, Housing and Urban Affairs in 2020 announced extending several incentives like concessional project finance, free Floor Space Index, and free of cost trunk infrastructure facilities to encourage the participation in Affordable Rental Housing Complexe schemes for migrants and urban poor.
The APAC painting tools market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in Kilotons & revenue in USD Million from 2017 to 2028, for the following segments:
Asia Pacific Market, By Product
- Spray gun
- Masking tapes
Asia Pacific Market, By Application
- Industrial machinery & equipment
The above information has been provided for the following countries:
- Asia Pacific
- South Korea