North America Paints and Coatings Market Size (2024 - 2029)

The North American paints and coatings market is projected to experience steady growth, driven by the expansion of industries and infrastructural construction in the region. Despite the challenges posed by rising raw material costs, the market is anticipated to recover from the setbacks caused by COVID-19 and continue its upward trajectory. The architectural segment is expected to lead the market, while advancements in nanotechnology present promising opportunities for further market expansion.

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Market Size of North America Paints and Coatings Industry

North America Paints and Coatings Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2019 - 2022
CAGR 4.00 %
Market Concentration High

Major Players

North America Paints and Coatings Market Major Players

*Disclaimer: Major Players sorted in no particular order

North America Paints and Coatings Market Analysis

The North American paints and coatings market is expected to register a CAGR of more than 4% during the forecast period. COVID-19 negatively impacted the market in 2020. However, the market is estimated to have reached pre-pandemic levels and is forecasted to grow steadily.

  • The rapid growth of industries and infrastructural construction in the region is fueling the market's growth during the forecast period.
  • On the other hand, increasing raw material prices are expected to hinder market growth.
  • The architectural segment is expected to dominate the regional market during the forecast period.
  • Using nanotechnology in paints and coatings is expected to act as an opportunity for future market growth.

North America Paints and Coatings Industry Segmentation

Paints and coatings are a homogeneous mixture of pigments, binders, and additives, which are applied to make a thin layer of the solid film once polymerization or evaporation occurs. The paints and coatings market is segmented by resin type, technology, end-user, and geography. The market is segmented by resin: acrylic, alkyd, polyurethane, epoxy, polyester, and other resin types. By technology, the market is segmented into water-borne, solvent-borne, powder-coating, and UV-cured coating. The end-user industry segments the market into architectural, automotive, wood, protective coatings, general industrial, transportation, and packaging. The report also covers the market size and forecasts for the market in 3 regions. For each segment, the market sizing and forecasts have been done based on value (USD million).

Resin Type
Acrylics
Alkyd
Epoxy
Polyester
Polyurethane
Other Resin Types
Technology
Water-borne
Solvent-borne
Powder Coating
UV-cured Coating
End-user
Architectural
Automotive
Wood
Protective Coatings
General Industrial
Transportation
Packaging
Geography
United States
Canada
Mexico
Rest of North America
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North America Paints and Coatings Market Size Summary

The North American paints and coatings market is poised for steady growth, driven by the rapid expansion of industries and infrastructure development in the region. Despite the initial setbacks caused by the COVID-19 pandemic, the market has rebounded to pre-pandemic levels and is expected to continue its upward trajectory. The architectural segment is anticipated to lead the market, with increasing demand for both interior and exterior applications. This demand is further bolstered by the burgeoning construction industry, particularly in the United States, where significant projects are underway. However, the market faces challenges from rising raw material costs, which could impede growth. The integration of nanotechnology in paints and coatings presents a promising opportunity for future market expansion.

The United States stands as a major player in the North American paints and coatings market, both in terms of consumption and production. The country's robust construction activities, supported by a strong economy and increased funding for public works, contribute significantly to the market's growth. The demand for architectural coatings is particularly strong, driven by the need to protect and enhance the aesthetic appeal of buildings. The market is characterized by a consolidated structure, with key players such as Sherwin-Williams Company, PPG Industries, Inc., and Akzo Nobel N.V. leading the charge. Initiatives like the use of renewable energy by AkzoNobel and expansion projects by Sherwin-Williams underscore the industry's commitment to sustainability and innovation.

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North America Paints and Coatings Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Drivers

      1. 1.1.1 Increasing Commercial Construction Activities

      2. 1.1.2 Other Drivers

    2. 1.2 Restraints

      1. 1.2.1 Increasing Raw Material Prices

      2. 1.2.2 Other Restraints

    3. 1.3 Industry Value Chain Analysis

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Bargaining Power of Suppliers

      2. 1.4.2 Bargaining Power of Consumers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products and Services

      5. 1.4.5 Degree of Competition

  2. 2. MARKET SEGMENTATION (Market Size in Value)

    1. 2.1 Resin Type

      1. 2.1.1 Acrylics

      2. 2.1.2 Alkyd

      3. 2.1.3 Epoxy

      4. 2.1.4 Polyester

      5. 2.1.5 Polyurethane

      6. 2.1.6 Other Resin Types

    2. 2.2 Technology

      1. 2.2.1 Water-borne

      2. 2.2.2 Solvent-borne

      3. 2.2.3 Powder Coating

      4. 2.2.4 UV-cured Coating

    3. 2.3 End-user

      1. 2.3.1 Architectural

      2. 2.3.2 Automotive

      3. 2.3.3 Wood

      4. 2.3.4 Protective Coatings

      5. 2.3.5 General Industrial

      6. 2.3.6 Transportation

      7. 2.3.7 Packaging

    4. 2.4 Geography

      1. 2.4.1 United States

      2. 2.4.2 Canada

      3. 2.4.3 Mexico

      4. 2.4.4 Rest of North America

North America Paints and Coatings Market Size FAQs

The North America Paints and Coatings Market is projected to register a CAGR of greater than 4% during the forecast period (2024-2029)

The Sherwin-Williams Company, PPG Industries, Inc., RPM International Inc., Akzo Nobel N.V. and Benjamin Moore & Co. are the major companies operating in the North America Paints and Coatings Market.

North America Paints and Coatings Market Report Snapshots

North America Paints and Coatings Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)