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U.S. Paints, Coatings to Top $25B

Monday, August 24, 2015

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The U.S. paint and coatings industry should top $25 billion in 2019, fueled by increasing demand for architectural coatings, a new market study suggests.

The study—ACA Industry Market Analysis, 9th Edition (2014-2019)published by the American Coatings Association delivers a five-year outlook on performance within 19 markets and market subsegments of the coatings industry.

The ACA says the architectural coatings segment makes up the largest “slice of the pie” for U.S. paints and coatings demand, accounting for 60 percent of the volume and 49 percent of the value in 2014.

painted houses
© / Giakas

Architectural coatings made up 60 percent of volume and 49 percent of value in the 2014 U.S. paint and coatings market.

In addition to architectural coatings, the other segments covered in the study are 13 OEM coatings markets; and five special purpose coatings markets, including industrial maintenance coatings, traffic marking paints, and marine paints.

Special and expanded chapters in the report include:

  • New Technology Trends and Market Opportunities;
  • Regulatory Influences on the Industry;
  • Merger and Acquisition Activity; and
  • Trends in Raw Materials.

Trends and Drivers

In addition to the $25 billion industry value forecast, the report, prepared by ChemQuest Group, identifies major trends and drivers in the industry, such as:

  • An increased demand for high-solids coatings.
  • Downward pressure on the average selling prices per gallon of coatings as the result of persistently low energy prices.
  • The negative impact of a persistently strong U.S. dollar on domestic imports.
  • An anticipated increase in the benchmark short-term interest rate by the Federal Reserve System if the economy continues to improve, affecting both volume and value in the domestic paint and coatings market.
© / muratart

The U.S. paint and coatings industry is forecasted to reach a value of $25 billion in 2019, according to a new ACA report.

Findings from interviews with key industry experts, whose insights provide a solid base for analyzing the impact of these trends and drivers, are also provided within the report, according to ACA.

Advance Insights

ChemQuest forecasts a five-year Compound Annual Growth Rate (CAGR) of 3.5 percent for value, and 3.3 percent for volume in the architectural segment, vs. 1.6 percent and 0.7 percent for value and volume, respectively, in Original Equipment Manufacturer sector and 2.9 percent for value and 2.8 percent for volume in Special Purpose Finishes sector.

The architectural coatings segment is expected to face both opportunities and challenges heading toward 2019, with the growing demand for waterborne coatings technology—particularly in the “primerless” and “Zero-VOC” segments—at the expense of solvent-borne coatings.

Consolidation, especially among small and medium-sized formulating companies, is expected to continue, combined with significant competition in channel growth with paint stores vying for increases in market share over home centers, according to the forecasters.

Segment Data

According to the ACA, this study fills the absence of the detailed industry figures previously provided by the U.S. Census Bureau’s Current Industrial Reports on the industry, which were discontinued after 2010.

© / nightman1965

An increased demand for high-solids coatings is among the trends and drivers identified by the ACA and ChemQuest in the five-year outlook.

The latest edition of the Market Analysis includes an industry structure assessment of each market segment using Porter’s “Five Forces” Analysis, a framework to analyze the level of competition within an industry and business strategy development.

This analysis provides a “snapshot in time” of each market segment in order to make direct comparisons among coatings market segments and their structural characteristics.

The report also features special chapters addressing industry mergers and acquisitions, regulatory issues, raw material trends and technology trends.

About the Preparers

The ChemQuest Group Inc. is a global business strategy firm in specialty chemicals driving growth, profit and innovation along the value chain to include formulated products such as coatings, adhesives and sealants.

The ACA is a voluntary, nonprofit trade association working to advance the needs of the paint and coatings industry and the professionals who work in it.


Tagged categories: American Coatings Association (ACA); Coatings; Good Technical Practice; Market; Market forecasts; Market share; Market trends; North America; Paint; Research and Markets

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