Water Colour Palette Market set to witness steady growth with a CAGR of over 5.2% during 2022-2031

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 According to the latest research, sales of water colour palette is set to witness steady growth with a CAGR of over 5.2% during 2021-2031. Demand for Water Colour Palette might witness substantial growth post suffering a drop in demand and sales throughout the COVID-19 pandemic period. Post-pandemic the anticipated growth in the art enthusiasts is expected to see a rise in demand for Water Colour Palette.

Customers are increasingly adopting to various wooden palette over plastic palettes that are used in the water colour arts. The boom in wooden accessory industry has been a major contributing factor towards the growth of the market. Use of such palettes by various professional art enthusiasts is also on the growth curve and thus, impacting the market growth positively.

The characteristics of the wooden palettes to avoid the corrosion has been one of the greatest drive for the adoption of such palettes.

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One of the key factors driving the worldwide market’s growth is rising consumer base in the art enthusiast category. The rise of painting purely in water colours and oil paints has been a driving factor in this category. Moreover, the market for such palettes is predicted to grow in response to rising customer demand for stylish wooden accessories that can be attributed to the high use of water colours, correspondingly, acting as a major factor in the market growth.

Trend in Water Colour Palette Likely to Augment Sales

The oval shape painting palettes are being increasingly preferred by the art community all over the world. The ergonomics provided in such palettes prevents it from colour spillage and mixing with other colours better than different shaped palettes such as round, square, rectangle, etc. The high preference of such palettes has helped the market growth in a high manner leading to greater preference from beginner artists besides professional artists.

Though the availability of plastic palettes is greater than wooden palettes, the trend of wooden palette as a better tray for water colour painting is higher in the market. Such adoption of wooden trays has improved with better quality palettes being offered in the market by the key players. Alternatively, preference of these palettes by professional artists has seen a surge in demand in the last few years and has paved a path for wooden palettes in the art of water colour painting.

Impact of COVID-19 on Water Colour Palette Market

The coronavirus widespread has had a substantial impact on a wide variety of enterprises and their supply and value chains at all levels. One of the businesses that is now suffering as a result of the pandemic is consumer products.

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Inadequate logistics, traffic management, and public mobility limitations in impacted nation-states throughout the world had caused supply delays in raw material supply, which is one of the most critical sectors of the market’s value chain. Major market participants have had to rethink their contingency preparations and risk management as a result of the pandemic. Although, with decline in cases the market is anticipated to revive itself fully in near future.

Who are the Key Manufacturers and Suppliers of Water Colour Palette?

Some of the leading manufacturers and suppliers of water colour palette include

  • Winsor & Newton
  • Schmincke
  • Old Holland
  • Daniel Smith
  • Shanghai SIIC Marie Painting Materials
  • Hebei Chinjoo Art Materials
  • PEBEO
  • Daler-Rowney
  • Madisi
  • Anhui Zhongsheng 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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