A Market Glimpse for the Painters Industry
The painters industry includes different establishments that are primarily engaged in painting for interior and exterior setups. They also include painting of interior wall covering. The wall-covering and painting work includes additions, new work, repairs, maintenance and alterations. The businesses and establishments in this particular industry perform different activities ranging from ship painting and bridge painting as well as wall-covering removal.
There are market researches reports which provide the latest industry trends as well as statistics and one of these research companies is IBISWorld. These research companies identify the customers and products that drive the profitability and growth of the industry. They evaluate the key indicators of the market and identify what the challenges or setbacks of the market. The report will also identify the leading companies in the industry and offers strategic analysis of the industry regarding the key factors that is influencing market.
Industry analysis and trends
Like construction related industry which was greatly affected when the Great Recession hit the world market, the painters industry also shrank in the past seven years. The real estate businesses significantly weakened in demand for industry services across the markets in the construction department. Today however the real estate industry has once again begun to pick up its pace and it is expected to recover strongly in the upcoming years. This strong recovery in the housing market as well as the increase in the spending of homeowners on improvements for their homes will drive an increase in the painters industry.
The steady recovery as well as the expected expansion in the housing market has increased the demand for the services in the painters industry in the last five years. The residential market has accounted for almost half of the revenue in the industry. Different painters servicing company like Fitzhugh Decorators Northampton (www.FitzhughDecoratorsNorthampton.co.uk) has felt the gradual rise of the industry. Developers are striking new projects everywhere while homeowners of existing properties are willing to pay for home improvements as the economy continues to strengthen. As the downstream construction market gained momentum, activities in the painters industry also significantly increased. Particularly, the construction markets are posting strong gains.