Owing to benefits such as the provision of an ability to express oneself through creative art forms in case of personal use, renovate buildings for commercial use, and to add color to learning in the education field, the global artwork supplies and materials market is experiencing a surge in its demand lately. There has been a greater demand for these supplies in comparison to their other alternatives.
The need for promoting cultural and indigenous art forms may significantly increase the availability of art supplies in different nations. As a result of increased environmental consciousness throughout the years, the consumption of biodegradable art supplies has also seen significant growth. The market for artwork supplies and materials could increase well as a result of this issue.
Rapid usage of these supplies in the educational field, for commercial use, and for personalized usage at home fosters remarkable progress in the global artwork supplies and materials market. The market consistently undergoes a series of developments in order to provide better products. The introduction of new and innovative art supplies is expected to allow the market to grow further in the forecast period.
Advantages for the manufacturers such as the low cost of manufacturing artwork supplies and materials along with minimal barriers to entry into the market encourage further adoption of the artwork supplies and materials market in the long run. Considering these factors, it is reasonable to say that the global artwork supplies and materials market is growing at an appreciable compound annual growth rate (CAGR) of 4%. It is expected that the market might acquire a size of USD 3.71 billion during the forecast period, that is, 2021-31.
If stated in lucid language, then artwork supplies and materials are those products that are required in order to create a form of art, that is, yield an artwork for any desired purpose. It includes products such as paints, pens, colors, brushes, canvas, etc.
The significant rise in trends such as ‘do it yourself' (DIY) and ‘reduce reuse recycle’ has increased the demand for art supplies and materials recently. People have started displaying their artwork on various social media platforms like Pinterest, Instagram, YouTube, etc, and are gaining a lot of recognition. These factors have collectively acted in favor of the global artwork supplies and materials market and have helped in propelling the growth of the market in the long run.
However, there are a number of limitations that are linked to the global artwork supplies and materials market. The minimum barriers to entry into this market increase the amount of competition. Innovative alternatives to these products are being made available that may hamper the growth of the market in the forthcoming years. In spite of all these restraints, the market is expected to experience a considerable rate of growth with new additions and developments that might take place in the market during the forecast period, that is, 2021-31. For example, manufacturing of supplies that are natural and recyclable.
The key players in the global artwork supplies and materials market are Newell Brands, Pilot Corporation, Staedtler Mars GmbH, Lukas, Da Vinci Paint, Golden Artist Colours, Daniel Smith, and Mitsubishi Pencil Co. Ltd. among others. These players operate in the market and adopt a number of strategies to stay in the market and establish themselves at a higher position than their competitors.
Drawing Pens Type to Remain the Most Lucrative Segment
On the basis of type, the global artwork supplies and materials market is divided into drawing pens, paints and stains, and craft tools. Among these, drawing pens are expected to hold the largest share of the market during the forecast period. Drawing pen sales are being fueled by factors like improving literacy rates, government efforts to build educational institutions and an increase in the number of students enrolling in high schools and colleges. Manufacturers are also focusing on creating multipurpose pens.
Online Sales to Yield Maximum Revenue
Online sales are the most preferred channel of distribution because they allow consumers to shop at any time of the day without bounding them by the specific timings of the retail stores. The rise of e-commerce is driving the demand of the market through this segment. Various social media influencers recommend and review products to their followers thereby, increasing the demand for these products while attracting potential customers to the artwork supplies and materials market.
North America is Expected to Render Ample Investment Avenues
North America will hold more share of the market share for art supplies worldwide than any other region during the period forecast. North America is expected to keep up its position as the market leader for art supplies around the world during the forecast period. This area will continue to be the most appealing market for art supplies during the projection period due to factors including the constant introduction of new goods and high consumer buying power.
Covid-19 Impact and Market Status
The crisis of the novel coronavirus was received by different industries in varying manners. The production process got adversely affected and the flow of raw materials was disturbed. The demand and supply chain was impacted negatively. Due to various regulatory measures imposed by the government, the manufacturers had to bear a number of challenges. There were extremely high shipping charges imposed on home deliveries. The retail stores were shut. The market had to suffer significant losses during the pandemic. However, the lockdown helped many people discover their inner talents in the field of artwork hence, the period after the pandemic is experiencing a surge in the adoption of artwork supplies and raw materials. Despite these setbacks, the market is all geared up to acquire a moderate rate of growth during the forecast period, that is, 2021-31 as the restrictions are gradually being relaxed. To guarantee continuous access to the items that clients rely on, industry participants are putting a lot of effort into establishing solid connections with dealers and suppliers.
Latest Innovations in the Global Art Supplies and Materials Market: a Snapshot
• The Lucas Museum delayed its opening to 2025 as ‘all areas of construction move forward.
• In March 2022, Dan Smith published that. The Heart of the Rockies Regional Medical Center (HRRMC) Board of Directors announced a field of six candidates, whose biographies are available on the hospital district website. Four board posts with three-year terms and one position with a one-year term will be up for election on May 3.
Art Supplies and Materials Market Scope
|2021 – 2031
|Revenue forecast in 2031
|USD 3.71 billion
|CAGR of 4 % during 2021-2031
|Type, Application, by Distribution Channels, Regions
|North America, Europe, Asia Pacific, Middle East and Africa, South America
|Key Players Profiled
|Newell Brands, Pilot Corporation, Staedtler Mars GmbH, Lukas, Da Vinci Paint, Golden Artist Colours, Daniel Smith, and Mitsubishi Pencil Co. Ltd. among others
Key Segments of the Art Supplies and Materials Market
By Type Overview, 2021-2031 (USD Billion)
- Drawing Pen
- Paints and Stains
- Craft Tools
By Application Overview, 2021-2031 (USD Billion)
- Home use
- Commercial use
- Educational use
By End User Overview, 2021-2031 (USD Billion)
By Regional Overview, 2021-2031 (USD Billion)
- Rest of Europe
- Rest of Asia Pacific