Analysis of Paint Sprayer market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
According to the latest research study by Fact.MR, Paint Sprayer industry is projected to witness the growth of higher single-digit CAGR over the forecast period (2021-2031). Demand for paint sprayer will be mainly driven by the industries such as automobile, construction, marine and manufacturing. However, the growing trend of DIY (Do It Yourself) activities are projected to drive the paint sprayer segment.
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The global coatings & paint industry has emerged as the major driver for the paint sprayer. Additionally, rapid urbanization, an increasing number of industrial units and penetration of passenger cars is driving the sprayer demand.
Furthermore, the intrinsic characteristics such as speed, even coating and varied designs have led sprayer to be the preferred choice over paintbrushes.
Moreover, end-use industries such as automotive, construction, architecture (decorative), OEMs (Original Equipment Manufacturer) have adopted the use of paint sprayer in place of traditional tools which is driving the market growth at a rapid pace.
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The growing trend of automobile renovation and custom paint patterns is encouraging manufacturers to use customized and easy to use paint sprayers for better delivery and high precision. Additionally, consumers are adopting high-quality coating solution to improve the aesthetic look of their cars which calls for the use of advanced paint sprayers hence increasing its demand in the long run.
Moreover, the growing demand for passenger cars in countries like China and India coupled with growing disposable income is projected to bolster the growth of paint sprayer in the region.
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The Asia Pacific accounts for the world’s largest coating industry with a global value share of 45%, out of which China accounts for more than 60% of the Asia Pacific coating market followed by India and Japan. Additionally, the decorative segment accounts for the major part of the paint industry and with a growing trend of DIY activities paint sprayer sales will see a significant surge in the region.
The growth of the decorative segment in the Asia Pacific region is a major boost to the paint sprayer industry and this can be attributed to the rapid urbanization and nuclearization of families, reduction in brush repainting, boost in housing schemes and rising disposable income.
The architectural industry is the potential driver for the growth in demand for a paint sprayer. Additionally, developments in the construction sector coupled with robust economic growth had major implications on the growing demand for a paint sprayer.
Moreover, soaring investments in real estate coupled with favourable government policies have bolstered the growth of the industry. For instance, European Central Bank’s ultra-low interest rates have opened the gateway for new construction paving the way for the paint & coating market. Furthermore, the German government's plan to construct 1.5 million housing units by the end of 2021 has given a promising push to the European paint and coating segment.
Aforementioned factors are projected to consequently drive the paint sprayer market over the forecast period
Some of the leading manufacturers and suppliers of paint sprayer are
The aforementioned players are mainly relying on organic growth strategies such as product launches and R&D developments to expand their overall market share. For instance, Wagner, a leader in paint applicator announced the launch of FLEXiO 4300, a versatile paint sprayer that can cover a variety of indoor and outdoor projects such as furniture, cabinets and larger projects like decks, fences and walls. Moreover, the paint sprayer industry is moderately consolidated with prominent players holding a chuck of the total share.
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides an in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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