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US Paint & Coating Market

  • August 2015
  • -
  • Freedonia
  • -
  • 382 pages

US demand to grow 3.9% per annum through 2019

The US paint and coatings industry is forecast to grow 3.9 percent annually to $1.4 billion gallons in 2019, valued at $31 billion. Gains will be driven by a strong rebound in construction activity which will stimulate demand in architectural paint, the largest market group. Environmentally-friendly low VOC paint and coating products will continue to register particularly strong growth as producers develop new products to meet stricter government regulations and consumer tastes. In addition, new technological advances, such as nanostructured coatings, will expand future growth as they open new applications by providing antimicrobial, self-cleaning, sound dampening, anticorrosive, and light emitting functions.

Architectural markets to remain key outlet

US architectural markets for paint and coatings will continue to be the main outlet for the industry, growing at an above average rate in 2019 as demand is driven by an improved outlook for both residential and nonresidential construction. The fastest growth is expected in the new construction segment as housing completions rise at a double-digit pace, but demand for paint in improvement and repair applications will improve as well. Overall, demand for interior paint, which accounts for about two-thirds of the market, will outpace demand for exterior paint demand due to increased use of siding materials which do not require painting. Additionally, water-based paint formulations will continue to grow faster than solvent-based formulations due to environmental concerns, although most architectural paint has already made the switch to waterborne.

Table Of Contents

US Paint and Coating Market
INTRODUCTION x
I. EXECUTIVE SUMMARY 1
II. MARKET ENVIRONMENT 4
General 4
Macroeconomic Outlook 6
Demographic Outlook 10
Personal Consumption Expenditures 14
Manufacturing Outlook 17
Building Construction Expenditures 21
Residential Building Construction 23
Housing Completions 25
Housing Stock 29
Residential Improvements and Repairs 33
Nonresidential Building Construction 34
Siding Trends 36
Raw Materials 39
Environmental and Regulatory Considerations 42
Paint Industry Regulations 44
Volatile Organic Compounds 46
Pigments 48
Solid Waste Recycling 49
World Paint and Coatings Demand 51
III. OVERVIEW 54
Supply and Demand 54
Historical Market Trends 56
Formulations 59
Water-Based 61
Solvent-Based 62
Powder Coatings 64
Other 65
Substrates 66
Pricing Trends 69
Foreign Trade 72
Imports 75
Exports 77
IV. ARCHITECTURAL MARKETS 80
Supply and Demand 80
Historical Market Trends 81
Markets 84
Residential Building Construction 86
New Construction 88
Improvement and Repair 91
Nonresidential Building Construction 94
Applications and End Users 96
Interior 99
Exterior 102
Formulations 106
Water-Based 107
Solvent-Based 108
V. MANUFACTURING MARKETS 111
Supply and Demand 111
Historical Market Trends 112
Markets 115
Furniture and Fixtures 118
Furniture Industry Outlook 119
Coatings Demand 120
Suppliers 124
Motor Vehicles 124
Motor Vehicle Production Outlook 125
Coatings Demand 128
Suppliers 132
Packaging 135
Packaging Industry Outlook 135
Coatings Demand 138
Rigid Containers and Closures 139
Flexible and Paper Packaging 142
Suppliers 145
Metal Building Components 147
Nonresidential Fixed Investment 147
Coatings Demand 149
Suppliers 151
Machinery 152
Machinery Outlook 152
Coatings Demand 154
Suppliers 156
Appliances 157
Appliance Industry Outlook 157
Coatings Demand 159
Suppliers 162
Aerospace and Other Transportation Equipment 163
Aerospace and Other Transportation Equipment Outlook 163
Coatings Demand 165
Aircraft and Aerospace Equipment 166
Other Transportation Equipment 169
Suppliers 171
Lawn and Garden Equipment 172
Power Lawn and Garden Equipment Industry Outlook 173
Coatings Demand 175
Suppliers 176
Other Manufacturing Markets 176
Formulations 179
VI. MAINTENANCE and SPECIALTY COATINGS 182
Supply and Demand 182
Historical Market Trends 183
Markets 185
Industrial Maintenance 188
Nonresidential Building Improvements and Repairs 189
Coatings Demand 190
Suppliers 194
Automotive Refinishing 196
Motor Vehicle Park 196
Coatings Demand 197
Suppliers 201
Roads and Bridges 204
Highway and Street Expenditures 204
Coatings Demand 207
Suppliers 211
Marine Equipment 212
Marine Equipment Outlook 213
Coatings Demand 214
Suppliers 217
Other 218
Formulations 220
VII. INDUSTRY STRUCTURE 223
General 223
Market Share 224
Architectural and Decorative Paint 228
Industrial Coatings 231
Acquisitions and Divestitures 234
Cooperative Agreements 239
Distribution 240
Competitive Strategies 243
Research and Development 246
Company Profiles 250
Akzo Nobel NV 251
ALTANA AG 258
Axalta Coating Systems Limited 261
BASF SE 266
Behr Process, see Masco
Berkshire Hathaway Incorporated 269
BYK-Chemie, see ALTANA
California Products Corporation 274
Carboline, see RPM International
Cloverdale Paint Incorporated 280
Consorcio Comex, see PPG Industries
Cuming Microwave, see PPG Industries
DayGlo Color, see RPM International
Diamond Vogel Paints 284
Dryvit Systems, see RPM International
Dunn-Edwards Corporation 288
ELANTAS, see ALTANA
Ennis-Flint 293
Fiberlock Technologies, see California Products
Fujikura Kasei Company Limited 296
Hempel A/S 299
Hentzen Coatings Incorporated 305
IVC Industrial Coatings, see PPG Industries
Kelly-Moore Paint Company Incorporated 307
LORD Corporation 309
Majic Paints, see Yenkin-Majestic Paint
Masco Corporation 311
Masterchem Industries, see Masco
Mohawk Finishing Products, see RPM International
Nippon Paint Holdings Company Limited 316
NOF Corporation 319
PPG Industries Incorporated 321
Quest Specialty Chemicals Incorporated 332
Red Spot Paint and Varnish, see Fujikura Kasei
Republic Powdered Metals, see RPM International
Rodda Paint, see Cloverdale Paint
RPM International Incorporated 335
Rust-Oleum, see RPM International
Sherwin-Williams Company 343
3M Company 353
TIGER Coatings GmbH and Company KG 355
Tnemec Company Incorporated 357
Tremco, see RPM International
True Value Company 359
Valspar Corporation 361
Vista Paint Corporation 371
Whitford Corporation 375
Yenkin-Majestic Paint Corporation 378

LIST OF TABLES

SECTION I -- EXECUTIVE SUMMARY
Summary Table 3
SECTION II -- MARKET ENVIRONMENT
1 Macroeconomic Indicators 10
2 Population and Households 14
3 Personal Consumption Expenditures 17
4 Manufacturers' Shipments 21
5 Building Construction Expenditures 23
6 Residential Building Construction Expenditures 25
7 New Housing Indicators 29
8 Housing Stock by Type 32
9 Residential Improvement and Repair Expenditures 34
10 Nonresidential Building Construction Expenditures 36
11 Siding Demand by Material 39
12 Raw Material Demand in Paint and Coatings 41
SECTION III -- OVERVIEW
1 Paint and Coatings Supply and Demand 56
2 Paint and Coatings Demand, 2004-2014 58
3 Paint and Coatings Demand by Formulation 60
4 Paint and Coatings Demand by Substrate 69
5 Selected Paint and Coatings Prices 72
6 US Foreign Trade in Paint and Coatings 75
7 Paint and Coatings Imports by Source, 2009-2014 76
8 Paint and Coatings Exports by Destination, 2009-2014 79
SECTION IV -- ARCHITECTURAL MARKETS
1 Architectural Paint Supply and Demand 81
2 Architectural Paint Demand, 2004-2014 83
3 Architectural Paint Demand by Market 86
4 Residential Building Construction Markets for Architectural
Paint 88
5 New Residential Construction Markets for Architectural Paint 91
6 Residential Improvement and Repair Markets
for Architectural Paint 94
7 Nonresidential Building Construction Markets
for Architectural Paint 96
8 Architectural Paint Demand by Application and End User 98
9 Interior Architectural Paint Demand 102
10 Exterior Architectural Paint Demand 105
11 Architectural Paint Demand by Formulation 107
SECTION V -- MANUFACTURING MARKETS
1 Manufacturing Coatings Supply and Demand 112
2 Manufacturing Coatings Demand, 2004-2014 114
3 Manufacturing Coatings Demand by Market 117
4 Furniture Shipments 120
5 Furniture and Fixture Coatings Demand 123
6 Motor Vehicle Production 128
7 Motor Vehicle Coatings Demand 132
8 Packaging Supply and Demand 138
9 Packaging Coatings Demand 139
10 Rigid Container and Closure Coatings Demand 142
11 Flexible and Paper Packaging Coatings Demand 145
12 Nonresidential Fixed Investment on Structures 149
13 Metal Building Component Coatings Demand 151
14 Machinery Shipments 154
15 Machinery Coatings Demand 156
16 Appliance Shipments by Type 159
17 Appliance Coatings Demand 162
18 Aerospace and Other Transportation Equipment Shipments 165
19 Aerospace and Other Transportation Equipment Coatings Demand166
20 Power Lawn and Garden Equipment Shipments 174
21 Lawn and Garden Equipment Coatings Demand 176
22 Other Manufacturing Markets for Coatings 179
23 Manufacturing Coatings Demand by Formulation 181
SECTION VI -- MAINTENANCE and SPECIALTY COATINGS
1 Maintenance and Specialty Coatings Supply and Demand 183
2 Maintenance and Specialty Coatings Demand, 2004-2014 184
3 Maintenance and Specialty Coatings Demand by Market 187
4 Nonresidential Building Improvement and Repair Expenditures 190
5 Industrial Maintenance Coatings Demand 194
6 Motor Vehicle Park 197
7 Automotive Refinish Coatings Demand 201
8 Highway and Street Expenditures 207
9 Road and Bridge Coatings Demand 211
10 Marine Equipment Shipments 213
11 Marine Coatings Demand 217
12 Other Maintenance and Specialty Coatings Demand 220
13 Maintenance and Specialty Coatings Demand by Formulation 222
SECTION VII -- INDUSTRY STRUCTURE
1 US Paint and Coatings Sales by Company, 2014 227
2 Selected Acquisitions and Divestitures 237
3 Selected Cooperative Agreements 240
SECTION II -- MARKET ENVIRONMENT
1 Year of Construction of Housing Stock, 2014 32
2 World Paint and Coatings Demand by Region, 2014 53
SECTION III -- OVERVIEW
1 Paint and Coatings Demand, 2004-2014 59
2 Paint and Coatings Demand by Formulation, 2014 61
3 Paint and Coatings Imports by Source, 2014 77
4 Paint and Coatings Exports by Destination, 2014 79
SECTION IV -- ARCHITECTURAL MARKETS
1 Architectural Paint Demand, 2004-2014 84
SECTION V -- MANUFACTURING MARKETS
1 Manufacturing Coatings Demand, 2004-2014 115
2 Manufacturing Coatings Demand by Market, 2014 118
SECTION VI -- MAINTENANCE and SPECIALTY
COATINGS
1 Maintenance and Specialty Coatings Demand, 2004-2014 185
2 Maintenance and Specialty Coatings Demand by Market, 2014 188
SECTION VII -- INDUSTRY STRUCTURE
1 US Paint and Coatings Market Share, 2014 228
2 US Architectural and Decorative Paint Market Share, 2014 231
3 US Industrial Coatings Market Share, 2014 234

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