The U.S. paints and coatings market includes a wide range of solvent-based and water-based formulas, as well as powder coatings. These coating mixtures are specifically suited for a wide range of applications and include: architectural paints and coatings used in the building, maintenance and remodeling of residential and non-residential buildings; automobile paints and coatings applied in the original manufacture and in the repair and maintenance processes; specialty paints and coatings used in the marine, aerospace, roads and bridges industries; industrial paints and coatings that help to protect and identify large machinery, equipment parts, coils and sheets; and paints and coverings used in original equipment manufacturing, such as furniture, appliances and packaging finishes.
SBI estimates the U.S. paints and coatings market in 2011 to be valued at $22.1 billion. Although growth from 2007 to 2011 was less than exciting, it is expected the market will benefit from the reviving U.S. economy, as well as a number of other factors, and will near $30 billion in 2021.
Many factors are paving the way for the U.S. paints and coatings market. As the number of construction projects increases, consumers resume their spending and as the demand for industrial production is raised, the paints and coatings market will benefit. At the same time, there are a number of factors inhibiting market growth, such as more stringent environmental regulations and higher prices of base ingredients. While some of these factors may not affect the paints and coatings market as a whole, specific segments of the market may be influenced.
In 2011, solvent-based paints and coatings are calculated to have claimed nearly 80% of the paints and coatings market. In 2021 it is projected this segment will have lost some share to water-based paints, as Americans seek ways to reduce air pollutants and look out for their own health.
A push to go green has inspired a whole new breed of paints and coatings. Emerging environmentally friendly products include everything from VOC-free and allergy sensitive interior house paints to self-repairing automobile paints and exterior architectural paints that reflect sunlight. This greening trend will likely continue for some time, especially since these friendlier coatings often help to save money as well.
The U.S. Market for Paints and Coatings contains comprehensive historical data (2007-2011) and forecast data (2012-2021) for the paints and coatings market, including the industry’s sub-segments divided by application and type. This report identifies key trends and factors (such as the regulatory scene, new technologies, employment opportunities and economic drivers and challenges), which affect the size and direction of market growth in the United States. Profiles of more than 15 major – or particularly interesting – companies involved in the industry are also included in this report.
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