The American Coatings Association (ACA) has published the "U.S. Paint & Coatings Industry Market Analysis: 2010-2015," which profiles the coatings industry’s 21 market sectors over the past two years, offering analysis, and providing projections for sector performance for the five-year period following the most recent industry Census figures. The report also incorporates interviews with industry experts whose insights provide a solid base for analyzing the impact of trends and issues in major market segments along the paint and coatings supply chain.
Prepared for ACA by The ChemQuest Group, Inc., the study finds that the U.S. paint and coatings industry is expected to reach a value of $23.6 billion in 2015. As the U.S. continues to emerge from the effects of the deep 2007-2009 recession, when both manufactured goods output and construction spending declined sharply, the paint and coatings market is expected to respond to improvements in both manufacturing and construction with significant increases in both volume and value. Both increased domestic demand and favorable export opportunities will fuel the demand for increased U.S. paint and coatings production the report says.
At 56 percent of the volume, and 49 percent of the value in 2010, the architectural segment continues to account for the largest “slice of the pie” with regard to U.S. paints and coatings demand. Aided by renewed strength in construction, and specifically in the residential housing market, ChemQuest is forecasting a 2010-2015 compound annual growth rate (CAGR) of 6.1 percent for value, and 2.9 percent for volume in the architectural segment, versus 4.9 percent and 1.8 percent for value and volume, respectively, in original equipment manufacturing finishes and 3.8 percent for value and 1.2 percent for volume in special purpose finishes.
The report says the architectural segment will face both opportunities and challenges as we head toward 2015, with the use of vinyl siding decreasing the need for exterior architectural paint, but with the growing market for fiber cement siding increasing the need. Since fiber cement siding is very likely to take market share from vinyl siding, this should be a plus for the architectural paint segment.
This latest edition of the market analysis offers several new features, including an industry structure assessment of each market segment using Porter “Five Forces” analysis. This analysis offers purchasers a "snapshot in time" of each market segment, and allows for direct comparisons among coatings market segments.