Paint & Coatings

Gains will be driven by a strong rebound in construction activity, by environmental laws mandating more expensive, low VOC paint and coatings, and by technological advances such as nanostructured coatings.
US demand to rise 3.8% annually through 2019
US demand for paint and coatings is forecast to grow 3.8 percent annually to 1.4 billion gallons in 2019, valued at $31.5 billion. Gains will be driven by a strong rebound in construction activity, which will stimulate demand in the architectural market. Environmentally friendly, low VOC paint and coating products will continue to see particularly strong growth as manufacturers develop new products to meet stricter government regulations and changing consumer tastes. Additionally, new technological advances, such as nanostructured coatings, will drive future growth as they open new applications by providing antimicrobial, self-cleaning, sound-dampening, anticorrosive, and light-emitting functions.

Architectural markets to offer best opportunities

Architectural markets for paint and coatings will continue to be the main outlet for the industry, growing at an above average rate through 2019 as demand is driven by an improved outlook for both residential and nonresidential construction. The fastest growth for paint is expected in new residential construction as housing completions rise at a double-digit annual pace, but demand in improvement and repair applications will increase as well. Overall, demand for interior paint, which accounts for about two-thirds of the market, will outpace demand for exterior paint due to increased use of siding materials that 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 switched from solvent- to waterborne formulas.

Metal building components to pace growth among manufacturing markets

Manufacturing coatings demand is forecast to reach nearly 400 million gallons in 2019, on annual gains of 2.4 percent. A rebound in construction spending will propel demand for related paint and coatings. The metal building components market will exhibit the fastest growth among manufacturing markets, benefiting from industrial and commercial expansion. The furniture and fixtures market will continue to account for the largest share of manufacturing coatings and will also grow at an above average pace. The motor vehicle market will experience subpar gains due to weak growth in light vehicle production. Powder coating usage will rise more quickly than other coatings formulations in the manufacturing market due to their efficiency and cost-effectiveness, while solvent-based coatings will continue to suffer from environmental regulations.

Study coverage

This Freedonia industry study analyzes the 1.2 billion gallon US paint and coatings industry. It presents historical demand data (2004, 2009 and 2014) and forecasts (2019 and 2024) by market (e.g., architectural, manufacturing, maintenance and specialty coatings), formulation (e.g., water-based, solvent-based, powder coatings) and substrate. The study also considers market environment factors, details industry structure, evaluates company market share, and profiles 30 industry players, including Sherwin-Williams, PPG Industries, and Valspar.
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