US Paint & Coatings Market

  • August 2013
  • -
  • Freedonia
  • -
  • 349 pages

US demand to reach 1.5 billion gallons in 2017

US demand for paint and coatings is forecast to reach 1.5 billion gallons in 2017, valued at $30.6 billion. This will be a notable improvement over the volume declines recorded during the 2007-2012 period. Gains will be supported by an improved economic outlook and greater consumer confidence. In particular, advances will be driven by a strong rebound in construction activity, which will propel demand for architectural paint, as well as metal building component coatings. Advances in the manufacturing sector will be supported by renewed growth in durable goods output, as rising consumer spending generates greater opportunities for coatings used in the production of big-ticket items such as motor vehicles and furniture.

Dominant architectural market to grow the fastest

The architectural market will remain the leading outlet for paint and coatings through the forecast period, with advances anticipated to outpace those of the other major segments of the paint and coatings industry. The residential sector will offer the best opportunities for growth, as the country recovers from the housing crisis that greatly reduced demand for residential architectural paint, particularly in the new housing segment. Interior applications will remain larger and grow faster than exterior applications.

Increasing environmental awareness and greater consumer concern regarding indoor air quality will spur demand for low- or no-volatile organic compound (VOC) products, especially those that are marketed as having low odor or being odor-free. In exterior applications, coatings demand will continue to be restricted by the popularity of siding materials (e.g., vinyl) that do not need painting. However, the growing use of fiber cement siding will provide some support, as this substrate -- unlike vinyl -- can be painted.

Paint and coatings demand in manufacturing markets is expected to expand at a healthy pace through 2017. The metal building components segment is forecast to see particularly rapid gains, promoted by the increased utilization of prefabricated metal building systems in nonresidential construction applications due to the functionality and labor cost savings these systems provide. Furniture coatings will also account for a sizable share of new demand between 2012 and 2017, benefiting from rapid gains in new housing completions, which will boost demand for home furnishings. However, advances will continue to be restricted by the large amount of furniture imported from countries with lower labor costs. The outlook for motor vehicle coatings will be positively impacted by improving economic conditions and rising consumer confidence, which will propel vehicle demand, in turn boosting production rates and creating opportunities for automotive coatings.

Maintenance and specialty coatings will remain the smallest market through 2017. Demand in the industrial maintenance sector will be supported by expanding nonresidential improvement and repair activity, while growth in the marine coatings segment will stem from greater output of marine equipment and the need to maintain large tankers, ships, and cruise liners, as well as offshore drilling rigs and platforms. In the auto refinish sector, the exceptionally high average age of the country’s motor vehicle park will hold opportunities, although gains will be held down somewhat by the trend toward fewer vehicle accidents, and a higher percentage of those vehicles being totaled.

Study coverage

This upcoming Freedonia industry study, Paint & Coatings, is priced at $5100. It presents historical demand data for 2002, 2007 and 2012, and forecasts for 2017 and 2022 by market, formulation and substrate. The study also considers market environment factors, details industry structure, evaluates company market share and profiles 33 US industry players.

Table Of Contents

TABLE OF CONTENTS

INTRODUCTION xi

I. EXECUTIVE SUMMARY 1

II. MARKET ENVIRONMENT 4

General 4
Macroeconomic Outlook 6
Demographic Outlook 9
Personal Consumption Expenditures 13
Manufacturing Outlook 16
Construction Outlook 19
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 63
Other 65
Substrates 65
Pricing Trends 68
Foreign Trade 71
Imports 73
Exports 76

IV. ARCHITECTURAL MARKETS 79

Supply and Demand 79
Historical Market Trends 80
Markets 83
Residential Building Construction 85
New Construction 87
Improvement and Repair 90
Nonresidential Building Construction 93
Applications and End Users 95
Interior 98
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 123
Motor Vehicles 124
Motor Vehicle Production Outlook 125
Coatings Demand 127
Suppliers 132
Packaging 134
Packaging Industry Outlook 135
Coatings Demand 137
Rigid Containers and Closures 138
Flexible and Paper Packaging 141
Suppliers 144
Metal Building Components 146
Nonresidential Fixed Investment 146
Coatings Demand 148
Suppliers 150
Machinery 151
Machinery Outlook 151
Coatings Demand 153
Suppliers 155
Appliances 156
Appliance Industry Outlook 156
Coatings Demand 158
Suppliers 161
Aerospace and Other Transportation Equipment 162
Aerospace and Other Transportation Equipment Outlook 162
Coatings Demand 164
Suppliers 170
Lawn and Garden Equipment 171
Power Lawn and Garden Equipment Industry Outlook 172
Coatings Demand 173
Suppliers 175
Other Manufacturing Markets 176
Formulations 178

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 205
Coatings Demand 207
Suppliers 211
Marine Equipment 212
Marine Equipment Outlook 212
Coatings Demand 213
Suppliers 217
Other 218
Formulations 220

VII. INDUSTRY STRUCTURE 223

General 223
Market Share 224
Architectural and Decorative Paint 229
Industrial Coatings 232
Acquisitions and Divestitures 235
Cooperative Agreements 238
Distribution 240
Competitive Strategies 243
Research and Development 246
Company Profiles 248
Ace Hardware Corporation 249
Akzo Nobel NV 250
ALTANA AG 255
Axalta Coating Systems Incorporated 258
BASF SE 260
Behr Process, see Masco
Benjamin Moore, see Berkshire Hathaway
Berkshire Hathaway Incorporated 263
BYK-Chemie, see ALTANA
California Products Corporation 267
Carboline, see RPM International
Chemical of America, see ALTANA
Chemprobe Coating Systems, see Tnemec
Cloverdale Paint Incorporated 270
Color Wheel Paint Manufacturing, see Consorcio Comex
Complementary Coatings, see Berkshire Hathaway
Consorcio Comex SA de CV 273
CrossLink Powder Coatings, see Hentzen Coatings
Diamond Vogel Paints 276
Dunn-Edwards Corporation 280
DuPont (EI) de Nemours 283
ELANTAS, see ALTANA
Ennis-Flint 284
Fiberlock Technologies, see California Products
Frazee Industries, see Consorcio Comex
Fujikura Kasei Company Limited 286
Hentzen Coatings Incorporated 288
HydroStop, see Quest Specialty Chemicals
International Paint, see Akzo Nobel
Jones-Blair Company 290
Kelly-Moore Paint Company Incorporated 292
Kwal Paint, see Consorcio Comex
LORD Corporation 295
Majic Paints, see Yenkin-Majestic Paint
Masco Corporation 297
Masterchem Industries, see Masco
Matrix System Automotive Finishes, see Quest Specialty
Chemical
Nippon Paint Company Limited 301
NOF Corporation 303
Parker Paint Manufacturing, see Consorcio Comex
Patriot Paint, see Quest Specialty Chemicals
Plasti-Kote, see Valspar
PPG Industries Incorporated 305
Quest Specialty Chemicals Incorporated 312
Raabe, see Quest Specialty Chemicals
Red Spot Paint and Varnish, see Fujikura Kasei
Rodda Paint, see Cloverdale Paint
RPM International Incorporated 316
Rust-Oleum, see RPM International
Sherwin-Williams Company 322
Spraylat, see PPG Industries
StrataShield, see Tnemec
3M Company 328
TIGER Coatings GmbH and Company KG 330
Tnemec Company Incorporated 331
Tremco, see RPM International
True Value Company 334
United Coatings, see Quest Specialty Chemicals
US Chemical and Plastics, see Quest Specialty Chemicals
Valspar Corporation 336
Vista Paint Corporation 342
Whitford Corporation 344
Yenkin-Majestic Paint Corporation 347
Zolatone Automotive, Industrial and Marine, see Quest
Specialty Chemicals



LIST OF TABLES

SECTION I -- EXECUTIVE SUMMARY

Summary Table 3

SECTION II -- MARKET ENVIRONMENT

1 Macroeconomic Indicators 9
2 Population and Households 13
3 Personal Consumption Expenditures 16
4 Manufacturers’ Shipments 19
5 Construction Expenditures 21
6 Building Construction Expenditures 23
7 Residential Building Construction Expenditures 25
8 New Housing Indicators 29
9 Housing Stock by Type 32
10 Residential Improvement and Repair Expenditures 34
11 Nonresidential Building Construction Expenditures 36
12 Siding Demand by Material 39
13 Raw Material Demand in Paint and Coatings 41

SECTION III -- OVERVIEW

1 Paint and Coatings Supply and Demand 56
2 Paint and Coatings Demand, 2002-2012 58
3 Paint and Coatings Demand by Formulation 60
4 Paint and Coatings Demand by Substrate 68
5 Paint and Coatings Prices 70
6 US Foreign Trade in Paint and Coatings 73
7 Paint and Coatings Imports by Source, 2007-2012 75
8 Paint and Coatings Exports by Destination, 2007-2012 77

SECTION IV -- ARCHITECTURAL MARKETS

1 Architectural Paint Supply and Demand 80
2 Architectural Paint Demand, 2002-2012 82
3 Architectural Paint Demand by Market 85
4 Residential Building Construction Markets
for Architectural Paint 87
5 New Residential Construction Markets for Architectural Paint 90
6 Residential Improvement and Repair Markets
for Architectural Paint 93
7 Nonresidential Building Construction Markets
for Architectural Paint 95
8 Architectural Paint Demand by Application and End User 98
9 Interior Architectural Paint Demand 101
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, 2002-2012 114
3 Manufacturing Coatings Demand by Market 117
4 Furniture Shipments 120
5 Furniture and Fixture Coatings Demand 123
6 Motor Vehicle Production 127
7 Motor Vehicle Coatings Demand 131
8 Packaging Supply and Demand 137
9 Packaging Coatings Demand 138
10 Rigid Container and Closure Coatings Demand 141
11 Flexible and Paper Packaging Coatings Demand 144
12 Nonresidential Fixed Investment on Structures 148
13 Metal Building Component Coatings Demand 150
14 Machinery Shipments 153
15 Machinery Coatings Demand 155
16 Appliance Shipments by Type 158
17 Appliance Coatings Demand 161
18 Aerospace and Other Transportation Equipment Shipments 164
19 Aerospace and Other Transportation Equipment
Coatings Demand 165
20 Power Lawn and Garden Equipment Shipments 173
21 Lawn and Garden Equipment Coatings Demand 175
22 Other Manufacturing Markets for Coatings 178
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, 2002-2012 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 210
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, 2012 228
2 Selected Acquisitions and Divestitures 237
3 Selected Cooperative Agreements 240



LIST OF CHARTS

SECTION II -- MARKET ENVIRONMENT

1 Year of Construction of Housing Stock, 2012 32
2 World Paint and Coatings Demand by Region, 2012 53

SECTION III -- OVERVIEW

1 Paint and Coatings Demand, 2002-2012 59
2 Paint and Coatings Demand by Formulation, 2012 61
3 Paint and Coatings Imports by Source, 2012 75
4 Paint and Coatings Exports by Destination, 2012 78

SECTION IV -- ARCHITECTURAL MARKETS

1 Architectural Paint Demand, 2002-2012 83

SECTION V -- MANUFACTURING MARKETS

1 Manufacturing Coatings Demand, 2002-2012 115
2 Manufacturing Coatings Demand by Market, 2012 118
3 OEM Motor Vehicle Coatings Demand Relative to US Motor
Vehicle Production, 2002-2012 132

SECTION VI -- MAINTENANCE and SPECIALTY COATINGS

1 Maintenance and Specialty Coatings Demand, 2002-2012 185
2 Maintenance and Specialty Coatings Demand by Market, 2012 188

SECTION VII -- INDUSTRY STRUCTURE

1 US Paint and Coatings Market Share, 2012 229
2 US Architectural and Decorative Paint Market Share, 2012 232
3 US Industrial Coatings Market Share, 2012 235

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