US demand for paint and coatings is forecast to exceed $25 billion in 2015. The market is expected to expand strongly in both volume and value terms, rebounding from the declines of the recessionimpacted 2005-2010 period.
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Paint & Coatings Market to 2015
1. Paint & Coatings Market to 2015
Published: November 2011
No. of Pages: 348
Price: $ 4900
US demand to exceed $25 billion in 2015
US demand for paint and coatings is forecast to exceed $25 billion in 2015. The market is
expected to expand strongly in both volume and value terms, rebounding from the declines
of the recessionimpacted 2005-2010 period. During this time, construction spending and
manufactured goods output both fell, reducing coatings demand in the key architectural and
manufacturing markets. Through 2015, growth will be fueled by renewed strength in
manufacturing and construction activity as the US economy continues its economic
recovery. Increasing domestic demand will boost production levels, as will favorable export
opportunities, particularly in Asia and Mexico.
Architectural market to provide best opportunities
The architectural market will continue to account for the largest share of paint and coatings
demand in the US. Advances will outpace those of the other major segments through 2015,
promoted by renewed strength in the housing market. In particular, home building activity
will rebound from the low 2010 level, boosting paint and coating sales. Going forward, the
interior component of the architectural paint market will remain considerably larger than the
exterior segment, and growth in demand for interior paint will outpace that for exterior
paint. The outlook for exterior coatings will continue to be affected by the introduction of
more efficient products, which can cover more square footage per gallon, as well as the
growing popularity of siding materials, such as vinyl, which do not require painting. On the
bright side, however, demand for exterior paint will be promoted by the rising use of one
alternative siding material -- fiber cement -- in the US housing industry. Unlike vinyl, fiber
cement siding can be painted. To the extent that fiber cement displaces vinyl siding, this
trend will provide opportunities for exterior paint demand.
Sales of paint and coatings in manufacturing markets will expand at a respectable rate
through 2015, reversing the downward trend of the 2000-2010 period. Among the various
market segments, the furniture and fixture sector will have the best opportunities for
growth, and will remain the leading outlet for coatings over the forecast period. However,
the motor vehicle sector will post more rapid gains, regaining its position as the second
2. largest outlet for coatings among manufacturing markets. Although demand will benefit
from strong growth in motor vehicle output, this will be offset to some extent by a move
toward smaller, more fuel-efficient automobiles at the expense of larger light vehicles such
as sport utility vehicles. This will limit coatings volume growth given that smaller vehicles
generally require less paint on a per vehicle basis.
Maintenance and specialty coatings will remain the smallest market through 2015. Advances
in this segment will trail those of the architectural and manufacturing markets. This is due in
part to the fact that demand for maintenance and specialty coatings was more insulated
from the difficult economic conditions present during the 2005-2010 period, and will
therefore also not be as positively impacted by the improved economic outlook as the other
market segments. Key outlets include industrial maintenance, and road and bridge markets.
Both are expected to advance at above-average rates through 2015, promoted by greater
nonresidential improvement and repair activity, and greater spending directed toward the
maintenance of the nation's aging infrastructure.
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