The global paint knife market is projected to experience significant growth over the next decade, with an estimated market value of USD 64.1 million in 2021 and an expected increase to USD 134.6 million by 2031. This expansion represents a compound annual growth rate (CAGR) of 7.7% during the forecast period between 2021 and 2031, according to a recent industry report.
In 2020, the global paint knife market generated USD 60.5 million in revenue, demonstrating steady growth despite the challenges posed by the COVID-19 pandemic. The market is anticipated to exhibit a year-over-year (Y-o-Y) growth rate of 5.9% in 2021, as demand for paint knives continues to rise among both professional painters and amateurs alike.
Factors Driving Market Growth
The demand for paint knives is being driven by several key factors:
- Widespread Application in Art and Painting – Paint knives are used by both professional artists and hobbyists to achieve specific effects, such as textured surfaces, broken color effects, and palette knife painting techniques. As artists experiment with new forms of creative expression, the popularity of paint knives is on the rise.
- Urbanization and Infrastructure Development – The growth in construction and urban development is spurring the demand for tools, including paint knives, as painters in the construction industry increasingly rely on these versatile tools for creating various textures in commercial and residential properties.
- Rising Popularity of DIY and Craft Projects – The increasing popularity of DIY home decor and art projects is contributing to a growing consumer base for paint knives, particularly among amateur artists and hobbyists.
- Ease of Use and Maintenance – Paint knives are easy to clean, offering a convenient option for artists and professionals. This makes them a preferred choice over other tools, especially for those who require quick cleanup during or after projects.
Regional Insights
- United States: The U.S. is seeing increased paint knife adoption driven by professional artists, DIY enthusiasts, and the influence of social media artists showcasing palette knife techniques.
- Canada: In Canada, paint knives are gaining popularity among children, hobbyists, and professional artists for creating texture in artwork, with social media further boosting their appeal.
- Europe: Europe’s demand for paint knives is fueled by their widespread use in oil and acrylic painting, color mixing, and large-scale artistic applications, including murals and theatre work, with a broad consumer base ranging from professionals to hobbyists.
Key Manufacturers and Suppliers of Paint Knife Market
- RGM
- Liquitex
- Royal Talens
- Pen Store
- Honoson Inc
- U.S. Art Supply.
- Martin F. Weber Co.
- Thackery Handmade
- LLC.
- BLACK+DECKER Inc.
- Fiskars Group
- Anhui Sunshine Stationery Co.
- Ltd. and many others.
Tap into Expertise: Discuss with Our Analyst on Email: sales@futuremarketinsights.com
Key Segments
By Application:
- Artist
- Art Student
- Art Lovers
- Other
By Price Range:
- Low (Under-USD 8.99)
- Medium (USD 10.93-USD 17.99)
- High (USD 20.55 & above)
By Distribution Channels:
- Direct Sales
- Specialty Stores
- Hypermarkets/ Supermarkets
- Online retailing
- Others
By Region:
- North America
- USA & Canada
- Latin America
- Brazil, Mexico, Others
- Western Europe
- EU5
- Nordics
- Benelux
- Eastern Europe
- Asia Pacific
- Australia and New Zealand (ANZ)
- Greater China
- India
- ASEAN
- Rest of Asia Pacific
- Japan
- Middle East and Africa
- GCC Countries
- Other Middle East
- North Africa
- South Africa
- Other Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-347-918-3531
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube