US paints and coatings market to benefit from the reviving US economy

In 2011 the US paints and coatings market was 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 US economy, as well as a number of other factors, and should reach approximately $30 billion in 2021.

Key factors driving growth within the US paints and coatings industry include the number of construction projects increasing, which in turn leads to consumers resuming 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.

In 2011, solvent-based paints and coatings were calculated to have claimed nearly 80% of the paints and coatings market. In 2021 it is projected this sector will have lost some share to water-based paints, as Americans seek ways to reduce air pollutants and look out for their own health.

The architectural segment will face both opportunities and challenges as we head toward 2015, with the use of vinyl siding decreasing the need for exterior architectural paint, but with the growing market for fibre cement siding increasing the need.

Since fibre cement siding is very likely to take market share from vinyl siding, this should be a plus for the architectural paint segment.

The US paints and coatings industry includes about 1,100 companies. Large companies include Benjamin Moore, RPM International, Sherwin-Williams, Valspar, and divisions of DuPont and PPG. The industry is highly concentrated: the largest 50 companies account for approximately 80% of revenue.

For more information on the US paints and coatings market, see the latest research: US Paints and Coatings Market Report

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