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Interior Paint Demand to Rise

Tuesday, March 7, 2017

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New studies forecast the growth of interior and architectural paint demand to increase about 3 percent per year to 535 million and 835 million gallons, respectively, in 2020. This estimate puts a value on the architectural paint industry at $11 billion.

Those and other industry insights were recently released by market research firm Freedonia Group (Cleveland, Ohio).

The group says that gains will be driven by healthy increases in both residential and nonresidential building construction, with the new residential paint market expected to post the fastest growth as the housing market continues to recover from the 2007-09 recession.

United Soybean Board, CC-BY-SA 2.0, via Flickr

The growing popularity of green building certification programs will boost the demand for low- and zero-VOC products.

Increased consumer confidence will also drive more improvement and repair activity, the study says, creating the additional opportunities for interior paint products.

Market Drivers

Interior water-based paints will offer the best growth opportunities because of their easy cleanup and low odor, making them particularly well-suited from indoor application, the firm says. The growing popularity of green building certification programs will boost the demand for low- and zero-VOC products.

Simultaneously, however, gloss and semi-gloss paint will outshine their flat-finish counterparts, even though flat finishes are considered easier to formulate as low-VOC, the report said.

“Demand for gloss and semigloss paints is forecast to post the fastest gains through 2020 at a 3.3 percent annual rate," said analyst Ellen Kriz. "Growth will occur at the expense of flat-finish paint since gloss and semigloss products exhibit greater durability, scratch resistance and washability than flat finishes."

Acquisition Impact

In addition to consumer trends, the consolidation of paint producers will also have an impact on the industry, the report suggests.

The firm mentions Sherwin-Williams’ pending acquisition of Valspar, which will change distribution strategies in the United States with the merging of Sherwin-Williams’ control of paint stores and Valspar’s position with home centers.

Another significant acquisition is Nippon Paint’s agreement with Dunn-Edwards, which allows the Japan-based company access to the U.S. architectural paint industry, Freedonia says.

   

Tagged categories: Architectural coatings; Architecture; Low-VOC; Paint; Residential Construction; VOC-free; Zero-VOC

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