The Australian painting industry stands as a pivotal element within the construction sector, playing a crucial role in both residential and commercial projects. Various factors such as population growth, urbanization, and government infrastructure investments have significantly shaped the industry's trajectory. This report aims to forecast the growth of the Australian painting industry over the next 24 months, focusing on sectors including residential repaints, new infrastructure projects, new housing, and maintenance of commercial buildings. Through the analysis of current trends, statistical data, and employment prospects, this report provides insights into the anticipated evolution of the industry.
Current Industry Overview
Before delving into the forecast, it's essential to understand the current state of the Australian painting industry. As of January 2024, the industry employs over 60,000 individuals and generates approximately AU$10 billion in revenue annually, according to data from the Australian Bureau of Statistics (ABS), Deloitte Economics and HIA. Residential repaints alone contribute around 40% of the total painting industry revenue.
Residential Repaints Sector
The residential repaints sector is anticipated to maintain its stability over the forecast period. Despite economic uncertainties, the housing market remains robust, with homeowners investing in property maintenance. The residential repaints sector is projected to witness a modest annual growth rate of 2-3% over the next two years.
New Infrastructure Projects
The Australian government's commitment to infrastructure development is poised to drive growth in the painting industry. With over $100 billion worth of infrastructure projects in the pipeline, major endeavors such as road construction, bridge rehabilitation, and public transport upgrades will necessitate extensive painting and coating services. The infrastructure sector is expected to experience robust growth, with a projected annual expansion rate of 5-7% during the forecast period, as estimated by the Department of Infrastructure, Transport, Regional Development and Communications.
New Housing Sector
While the new housing sector has faced challenges such as a downturn in approvals, the short-term trend indicates lower demand for painting services in residential developments. Economists expect housing starts to fall from 172,000 in the 2023 financial year to 154,000 in FY24, before recovering to 166,000 in FY25.
Maintenance of Commercial Buildings
The maintenance of commercial buildings remains a stable source of revenue for painting contractors. As businesses prioritize attractive and functional spaces, regular painting and maintenance become imperative. The commercial sector is expected to witness moderate growth, with a projected annual expansion rate of 3-4% during the forecast period, based on data from commercial real estate analytics firm, CBRE.
Employment Prospects
The forecasted growth in the Australian painting industry is expected to have a positive impact on employment prospects. With increasing demand across various sectors, opportunities for skilled painters, apprentices, and support staff are anticipated to grow. Additionally, the National Painting and Decorating Institute's emphasis on training and certification programs will attract new talent, ensuring a skilled workforce to meet evolving customer demands.
In conclusion, the Australian painting industry is positioned for growth over the next 24 months, driven by factors such as population growth, infrastructure investments, and housing demand. While challenges such as economic uncertainties and regulatory changes may pose obstacles, the overall outlook for the industry remains positive. By focusing on key sectors such as residential repaints, new infrastructure projects, and maintenance of commercial buildings, painting contractors can capitalize on emerging opportunities and contribute to the continued development of the Australian construction sector.
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FAQs
As of January 2024, the industry employs over 60,000 individuals and generates approximately AU$10 billion in revenue annually, according to data from the Australian Bureau of Statistics (ABS), Deloitte Economics and HIA. Residential repaints alone contribute around 40% of the total painting industry revenue.
Is the painting industry growing? ›
On a global scale, the paint and coatings industry is expected to grow in the coming years, and the North American market is no exception. The global paint and coatings industry was valued at about $206.56 billion in 2023.
What are the trends in the painting industry? ›
Emerging trends in the paint industry include anti-bacterial and VOC-free paints, as well as aerospace applications and nanotechnology. The industry also expects to see advancements in smart coatings with self-healing properties, energy-efficient reflective paints, and biobased materials.
How many painters are there in Australia? ›
How many people are employed in the Painting and Decorating Services industry in Australia? The Painting and Decorating Services industry in Australia has 53,997 employees in Australia in 2023.
How big is the art industry in Australia? ›
The arts and entertainment sector contributes $14.7 billion per year in value added (GDP). Arts and entertainment employs 193,600 Australians. For every million dollars in turnover, arts and entertainment produce 9 jobs while the construction industry only produces around 1 job.
What is the largest paint company in Australia? ›
Dulux Industrial is a subsidiary of DuluxGroup, which is one of Australia's leading paint manufacturing companies.
What is the paint industry forecast for 2024? ›
Industry revenue has grown at a CAGR of 1.1% and is expected to reach a total of $33.7 billion in 2024 as revenue rises by an estimated 0.7%.
What is the paint industry forecast? ›
The global paints and coatings market size was valued at USD 206.56 billion in 2023 and is projected to grow from USD 217.36 billion in 2024 to USD 303.97 billion by 2032, exhibiting a CAGR of 4.5% during the forecast period. Asia Pacific dominated the paints and coatings market with a market share of 46.39% in 2023.
What is the future outlook for a painter? ›
Overall employment of painting and coating workers is projected to grow 1 percent from 2023 to 2033, slower than the average for all occupations. Despite limited employment growth, about 16,900 openings for painting and coating workers are projected each year, on average, over the decade.
Which painting is in demand? ›
Due to these characteristics of acrylic painting, it became very popular among the artists very quickly and the demand for acrylic paintings increased more. The acrylic colour is prepared by mixing it with resin.
Art styles and subjects
The best-selling art subjects include: Traditional landscapes: Landscapes, such as beach scenes, rolling hills, and impressionistic landscapes, elicit a sense of peacefulness and calm, often evoking nostalgic memories in the viewer.
How is the paint industry changing? ›
The paints industry is undergoing a transformation driven by various factors such as sustainability, durability, performance, digitalization, and innovation. These trends are creating new opportunities and challenges for paint manufacturers and customers alike.
Who is Australia's most famous painter? ›
Sidney Nolan (1917-1992):
Sidney Nolan is one of Australia's most prolific and celebrated 20th-century artists. Growing up during the Depression era, Nolan emerged with a vibrant modern art style, focusing on uniquely Australian stories from the bush.
How much does a painter cost Australia? ›
According to the National Painting and Decorating Institute, professional painters in Australia charge between $65 to $95 per hour. It's important to note that these figures represent an average across Australia.
How much do qualified house painters earn in Australia? ›
What can I earn as a Painter? The average annual salary for Painter jobs in Australia ranges from $65,000 to $85,000.
Do painters make good money in Australia? ›
The average annual salary for Painter jobs in Australia ranges from $65,000 to $85,000.
How big is the printing industry in Australia? ›
Australia is in the top 20 with an industry size of around $7-8 billion. Even though we are not in the top 10, the most important thing is Australia's printing industry is growing.
How big is the trade industry in Australia? ›
Trade as a share of GDP
The last few years have seen a slight easing-off to average around 21 per cent of GDP. This means that around a fifth of all goods and services (by value) produced in Australia are traded internationally.
Can you make a living as an artist in Australia? ›
The average total income for an Australian artist is around $54,500, which is 26 per cent lower than the overall workforce average.
