The global market for small paint pails market is estimated to be worth USD 1,177.8 million in 2021 and is anticipated to reach a value of USD 1,992.9 million by 2031. Sales are projected to rise at a CAGR of 5.4% over the forecast period between 2021 and 2031. The revenue generated by the small paint pail market in 2020 was USD 1,173.5 million. The industry is anticipated to exhibit a Y-o-Y growth of 0.4% in 2021.
Global Small Paint Pail Market Industry Assessment
| Attributes | Key Insights |
|---|---|
| Historical Size, 2020 (A) | USD 1,173.5 million |
| Estimated Size, 2021 (E) | USD 1,177.8 million |
| Projected Size, 2031 (F) | USD 1,992.9 million |
| Value-based CAGR (2021 to 2031) | 5.4% |
The target market is segmented under material, end use, and item weight. The market is further sub-categorized under these segments to provide a granular aspect which will benefit the businesses operating in the market to improve on their products, gain a competitive edge over other players, and grasp a major portion of the market, in parallel.
The target market caters to the needs of both professional painters and DIY enthusiasts, offering containers typically ranging from small to large. The pails are essential for storing and mixing small quantities of paint, making them ideal for touch-ups, minor repairs, and detailed work. The market has seen steady growth, driven by increased home renovation activities, a rising trend in DIY projects, and the demand for more convenient and portable solutions in the painting industry. The market is also influenced by environmental concerns, leading to innovations in sustainable packaging and materials used in manufacturing these pails.
The small paint pail market is highly competitive, with numerous players ranging from large multinational companies to local manufacturers. Major players like Yixing Desheng Metal Package Products Co. Ltd., Wuxi Huatai Co. Ltd, and SLJ UDYOG dominate the market with their strong brand presence, extensive distribution networks, and a wide range of product offerings. The companies often lead in innovation, focusing on eco-friendly materials, ergonomic designs, and user-friendly features like easy-pour spouts and secure lids.
The industry is set to experience upward growth during the forecast period. It is projected to create an incremental opportunity of USD 815.0 million and is predicted to rise approximately 1.7 times the current market value through 2031.
The paint pail features such as the curved section is designed to fit the hand, while the flat side is designed to fit the brush. A powerful magnet molded onto the inside of the cup mysteriously holds the brush up and out of the paint, which is a very creative feature of the pail (and catches any drips).
It's simple to clean up - simply throw away the used vacuum-formed liner (and slip in a fresh one for next time). Such factors are expected to drive the demand for the product.
Players in the market are focusing their efforts on creating more convenient and portable paint pails that can be transported anyplace. In addition, its long-lasting construction can withstand years of use with any paint or stain.
For example, the HANDy 32-fl oz Paint Pail has a magnetic brush holder, an adjustable strap that makes it pleasant to carry, is solvent-resistant, has a brush scraper, and can be used with any paint or stain. Such offerings are expected to boost the sales.
COVID-19 had a negative impact on the market in 2020. A disrupted global supply chain, as well as lower demand from a range of end-user industries, including the construction industry. Additionally, because paint pails are portable, the do-it-yourself movement is growing, encouraging people to purchase small paint pails.
Even amid the pandemic, the majority of people are upgrading their homes, allowing the players to earn more money. As a result of rising consumer interest in home renovations in the United States, demand for small paint pails is expected to increase in the region.
The growing construction and infrastructure spending, as well as the increased use of exterior paints, are driving the small paint pail business in the region. Besides this, the increasing demand for wall decor by consumers is acting as the catalyst for the growth of the market.
Because of their strong structure and impact resistance, paint pails are extremely effective for keeping and transporting various types of paints. Furthermore, they are more durable than their competitors.
During the forecast period, the demand for paint pails is predicted to increase due to expanding population, rising disposable income, and improving people's living standards. To improve the aesthetic appeal of buildings, a variety of paints are being used.
In comparison to its rivals, consumers prefer compact paint pails. The rise of small paint pail manufacturers is being aided by rising demand for paints in numerous industries such as automotive, general industry, marine, and furniture.
Some of the leading manufacturers/suppliers include
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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Small Paint Pail Market
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