According to a new report published by Allied Market Research, titled, “Paint Roller Market by Fabric, Frame Size, and End User: Opportunity Analysis and Industry Forecast, 2020–2027,” the global paint roller market size was valued at $2.3 billion in 2019, and is projected to reach $3.1 billion by 2027, registering a CAGR of 5.5% from 2020 to 2027.
The commonly observed types of paint roller are synthetic and blended. Among these, the blended segment accounts for the largest size by value, owing to increased demand from various industries such as construction and furniture. The market is analyzed with respect to different industrial verticals provided, such as industrial, commercial, and residential. The market is mainly driven by global economic growth, and development in residential, commercial, & industrial construction sectors. However, fluctuation in raw material prices limit the paint roller market growth.
In 2019, Asia-Pacific dominated the market, in terms of revenue, accounting for around 45.0% paint roller market share, followed by Europe and North America. Moreover, the market in Asia-Pacific is growing with high CAGR, owing to urbanization and economic development in the developing countries such as India, China, and others.
The favorable FDI policies to promote residential and commercial sector around the globe drives the demand for the paint roller. In addition, increase in infrastructure spending and replacement of old buildings & structure with new one propels the demand for painting tools such as paint rollers.
Furthermore, based on end users, the residential segment is anticipated to grow rapidly, with a CAGR of 5.9% during the forecast period, due to rise in residential construction projects and growing urban population.
For instance, in February 2019, the government of UAE has given a tender of $2.7 billion for infrastructure projects under its public-private partnership (PPP) model. The infrastructure projects include residential and commercial structures. Similarly, in October 2019, the government of South Korea and Inter-American Development Bank (IDB) collaborated to invest around US$1.3 billion in Latin American smart city projects.
However, during a lockdown, owing to the coronavirus situation, various manufacturers in the global paint roller market to stop their business production due to lockdown implemented in countries such as China, the U.S., India, and others. This break directly impacted the sales of paint roller companies. In addition, lack of manpower and raw materials halts the supply of paint rollers. However, the reopening of production facilities and the introduction of vaccines for coronavirus disease are anticipated to lead to re-opening of paint roller companies.
The key players profiled in the market report include Anderson Products, Beorol, Gordon Brush, Marshall Brushes & Rollers, Premier Paint Roller Manufacturing, Purdy, Quali-Tech Manufacturing, Stanley Black & Decker, Inc, Roll Roy, and The Wooster Brush Company.
Key Findings Of The Study
- The report provides an extensive analysis of the current and emerging paint roller market trends and dynamics.
- Depending on fabric, the blending segment dominated the paint roller market, in terms of revenue in 2019 and synthetic segment is projected to grow at a significant CAGR during the forecast period.
- By end user, the residential segment registered highest revenue in 2019.
- Asia-Pacific is projected to register the highest growth rate in the coming years.
- Depending on frame size, the medium segment dominated the market, in terms of revenue in 2019 and large segment is projected to grow at a significant CAGR during the paint roller market forecast period.
- The key players within the market are profiled in this report, and their strategies are analyzed thoroughly, which help understand the competitive outlook of the paint roller industry.
- The report provides an extensive analysis of the current trends and emerging opportunities of the market.
- In-depth paint roller market analysis is conducted by constructing estimations for the key segments between 2020 and 2027.