Europe Painting Tools Market to grow at 4.4% CAGR from 2020 to 2026: Graphical Research The Europe Painting Tools Market will be accelerating at significant rate over projected timeframe due to growing product demand in appliances sector. Appliances industry is a key consumer in global paints & coatings market. Rising consumer preference for better look in appliances category has led to increase in paint consumption over forecast time period. According to British Coatings Association, UK paints & coatings market crossed over USD 2.5 billion in 2017, with a sold volume of approximately 650 million liters. Such trends are promoting healthy growth of paints & coatings in Europe, which is forecasted to propel product demand by end of forecast time period. Although painting tools are gaining substantial attention from end-users, lack of availability of skilled labor will slowdown industry growth rate over forecast timeframe. The key reason behind this are low wages, lesser employee benefits, and lack of job security, which is refraining people from continuing in the profession. Additionally, growing trend for DIY projects in major part of Europe will drive down the requirement for labor in painting tools industry over forecast time period. However, rising need for non-residential construction activities in the region will enhance need for skilled labor in the sector, which may drive product penetration during projected timeframe.
Spray guns will accelerate at 5% CAGR in Europe painting tools market over forecast time period. These products are commonly utilized while painting large surface area. Spray guns are more effective than rollers or brushes as they have ability to emit tiny paint particles which can paint in every nook & corners of walls, ceilings or furniture. Further, these products are easy to use and are available in variety amount of shape, power type, size, etc., which will be enhancing its demand in upcoming years. Construction segment will account for more than 65% share of Europe painting tools market size over projected timeframe. Growing renovation activities in countries including, Germany, UK, France, Italy, etc. have increased usage of paints & coatings in the region. The market share of residential and non-residential renovation in Europe has grown significantly between 2010 to 2015, which has driven sales of these tools in construction sector. Rising population and growing household income will be propelling building & construction activities in this region, which will again surge product usage in the market. UK will witness over 4.5% CAGR in Europe painting tools market size. Increasing focus on construction activities for residential and non-residential buildings will be driving paints & coatings product demand over coming years. Further, growing penetration of battery electric vehicles (BEV) is supporting growth of paints & coatings sector in the region. Stringent regulations pertaining to sustainable housing, plumbing, industrial fire safety agricultural construction, industrial workshops, etc. will be enhancing construction sector growth by end of forecast timeframe.
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Browse key industry insights from this 2020 report Europe Painting Tools Market in detail along with the table of contents at: http://bit.ly/3chKRp6 The key manufacturers covered in Europe painting tools market report are Purdy, Nespoli Group, NOUR Trading House and MAAN.
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