Major factors such as escalating number of smaller households escalating number of smaller household, technological advancement, increase in the income and rapid urbanization will promulgate market expansion.
Furthermore, shifting customer preferences towards new and improved kitchen and living room decor as well as protecting appliances from damage will provide a positive opportunity for metal paint tray growth across the region. As a result, Metal Paint Tray Market is set to witness a CAGR of 6.1%-6.9% during 2021-2031.
What is Driving Demand for Metal Paint Tray Market?
Growing product demand from quality minded home improvement enthusiast and professional craftsmen in the architectural industry are fueling industry expansion.
Moreover, surge in the demand from the decorative paints segment along with the general industrial application will further drive the overall market growth for metal paint tray market across the region.
In addition, changing consumer aesthetics and wall designs in residential and commercial building will further increase the market share.
The outbreak of COVID-19 pandemic have significantly damaged new construction activities, which has significantly affected the mental paint tray industry. This weak demand scenario has largely affected the market due to evolving priorities of expenditure towards essential infrastructure and needs.
Further, the imposition of temporary lockdown has resulted in disruption of trade and production activities. However, the market is recovering due to government actions and stimulus contacts for various construction and associated markets.
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Surge in the Demand for Metal Paint Tray in Residential Application is anticipated to boost the Market
The trending concept of nuclear family along with increasing population has contributed to the growth of residential building construction. Paints, and wall decoration are broadly used since they provide improved appearance to these structures. Changing consumer preference for eye-catching interior textures specifically in the residential sector is further expected to impact the global market growth in a positive way.
US and Canada Metal Paint Tray Market Outlook
Geographically, North America is projected to dominate the significant share in the global metal paint tray market. The adoption of eco-friendly painting tray has led to a boom in the market. North America is considered to be the primary market for metal paint tray. Market demand in North America is fueled by increased investment in the construction and infrastructure sectors in the United States and Canada.
Moreover, rising automotive and electronic industries in United States has resulted in increased sales of metal paint tray market.
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Europe Demand Outlook for Metal Paint Tray Market
Europe is likely to witness massive growth during the forecast period due to the competitive price and ease of application of products which will fuel the growth of the metal paint tray industry. Moreover, the product helps to reduce the wastage of paint which is positively affecting the demand.
In addition, industry players in the region are focused on tying up with architects and government tenders for large projects that supply products on a large scale and at affordable prices.
Who are the Key Manufacturers and Suppliers of Metal Paint Tray Market?
Key players in the metal paint tray market are
Wooster Brush
Linzer
HAKZEON
Rok
Zonon
Baoding Jubao Wire Mesh Manufacture Co.Ltd
Ningbo Becol Stationery & Gifts Co.Ltd.
ProRoller
Unvert
and Dong Guan Lucky Tin Co.Ltd.
among others.
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 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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