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U.S. Coatings Market to Hit $28B

Wednesday, January 21, 2015

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Architectural coatings will account for more than half of the 8.8 billion pounds of paint and coatings likely to be used in the U.S. during 2015, according to a market research firm.

Kusumgar, Nerlfi and Growney Inc. announced the commencement of its fifth study of the U.S. paint and coatings market, and released some preliminary results Jan. 14.

architectural coatings
jp26jp / pixabay / CCO Public Domain

Architectural coating volume sits somewhat below the peak level of 2006, but has grown modestly in recent years, according to the results.

The full study, covering 2015 to 2020, will be available in 2016.

Evolving Industry

Paint and coatings consumption is expected to reach $28 billion in 2015, with total volume projected at 8.8 billion dry pounds, up from 7.8 billion in 2011, the firm reported.

“Despite being a mature industry, coatings continue to evolve to meet the challenges of regulations, growing consumer demands, increased emphasis on sustainable products, globalization, cost pressures, etc.,” the firm reported.

On the other hand, it added: “The recent sharp drop in oil prices could force coating prices lower if continued.”

Growing Segments

Architectural coating volume sits somewhat below the peak level of 2006, but it has grown modestly in recent years, according to the results. The segment is projected to capture just over half of the total pounds consumed in 2015.

Pricing is up as material costs have increased and products have become more sophisticated, the firm added.

Specialty purpose coatings are expected to account for 24 percent of the 2015 volume. These include industrial maintenance and specialty roof coatings—niches that have grown with the economic recovery and increased construction spending, according to the report.

industrial painting
ChadoNihi / pixabay / CC0 Public Domain

Just over 70 percent of the solvent-based coating in 2015 will be used in industrial applications, according to Kusumgar, Nerlfi and Growney.

Original equipment manufacturer (OEM) coatings are forecast to take one-quarter of the volume in 2015. Growth in this segment varies among end users, with automotive and aerospace growing strongly in recent years.

By Technology

The report also slices the data by coating types.

Water-based paints and coatings are forecast to make up 58 percent of the total volume in 2015, up from a 48 percent share in 1996, the firm said.

Architectural paints account for 71 percent of the water-based market; industrial coatings, including both OEM and specialty coatings, represent 29 percent.

Solvent-based technology is forecast to capture 30 percent of the 2015 volume, down from a 42 percent share in 1996. Just over 70 percent of solvent-based coatings in 2015 will be used in industrial applications, according to Kusumgar, Nerlfi and Growney.

Powder, radcure and other 100 percent solids technologies are projected to garner 11 percent of the coating pounds in 2015. These industrial technologies represent 40 percent of the OEM volume and five percent of special purpose coatings.

Powder has increased from 14 percent of OEM coating volume in 1996 to just over 20 percent share this year.

About the Firm

Based in Elmwood Park, NJ, Kusumgar, Nerlfi and Growney is a consulting firm specializing in market research and business analysis for the polymer and chemical industries.

Its managing directors draw more than 30 years of experience analyzing the coating, ink, sealant and adhesives industries, according to its website.


Tagged categories: Business matters; Coatings Technology; Market; Market forecasts; Trends

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