Table of Contents
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.
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