United States Paints and Coatings Market Size (2024 - 2029)

The United States paints and coatings market is poised for notable expansion, driven by increasing commercial construction activities. Despite challenges posed by the COVID-19 pandemic, which initially disrupted supply chains and reduced demand, the market has rebounded due to heightened investments in construction and related industries. While stringent regulations on VOC-Free contents and the substitution of alternative chemicals may impede growth, advancements in nanotechnology present promising opportunities. The architectural sector currently leads in market share, although the packaging sector is anticipated to experience the most rapid growth in the coming years.

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Market Size of United States Paints and Coatings Industry

United States 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

United States Paints and Coatings Market Major Players

*Disclaimer: Major Players sorted in no particular order

US Paints and Coatings Market Analysis

The United States paints and coatings market is estimated to witness significant growth, at an estimated CAGR of over 4%, over the forecast period.

The COVID-19 epidemic has significantly impacted the paint and coatings business in the United States. Following the initial shock, the industry has seen diminished demand due to the closure of numerous non-essential establishments, such as manufacturing factories and building sites. As a result, the output of paints and coatings has decreased, and the supply chain has been disrupted. However, the market bounced back in 2021 due to rising investment in construction and end-user industries.

  • Increasing commercial construction activities in the country are driving the demand for the market studied.
  • Strict regulations on the usage of VOC-Free contents and substitution of alternative chemicals are estimated to hamper the market's growth.
  • The use of nanotechnology in the paints and coatings industry is expected to offer various opportunities for market growth during the forecast period.
  • In the end-user segment, the architectural sector dominated the market in the country. However, the packaging sector will likely have the highest CAGR during the forecast period.

US Paints and Coatings Industry Segmentation

Paints and coatings are thin materials applied to a surface to safeguard, decorate, or enhance the underlying layer's functionality. Coatings often refer to solvent-based systems, whereas paints typically refer to aqueous systems. They are often applied with a brush, roller, sprayer, or applicator. They are made of resins, pigments, solvents, and other ingredients. The United States paints and coatings market is segmented by resin type, technology, and end-user Industry. The market is segmented by resin type: Acrylic, Alkyd, Polyurethane, Epoxy, Polyester, and Other Resin Types. By technology, the market is segmented into Water-borne, Solvent-borne, Powder Coatings, and Other Technologies. By end-user Industry, the market is segmented into Architectural, Automotive, Wood, Industrial, Transportation, and Packaging. For each segment, the market sizing and forecasts have been done based on value (USD million).

Resin Type
Acrylic
Alkyd
Polyurethane
Epoxy
Polyester
Other Resin Types
Technology
Water-borne
Solvent-borne
Powder Coating
Other Technologies
End-user Industry
Architectural
Automotive
Wood
Protective Coatings
General Industrial
Transportation
Packaging
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United States Paints and Coatings Market Size Summary

The United States paints and coatings market is poised for substantial growth, driven by increasing commercial construction activities and advancements in paint technology. The market experienced a downturn due to the COVID-19 pandemic, which led to reduced demand and supply chain disruptions. However, it rebounded in 2021, fueled by investments in construction and end-user industries. The architectural sector remains the dominant end-user, while the packaging sector is expected to experience the highest growth rate. The market is characterized by the widespread use of acrylic resins, which are favored for their transparency, colorability, and UV resistance. These resins are primarily used in waterborne systems, contributing to low VOC emissions and high surface hardness, making them ideal for applications in the construction industry.

The paints and coatings industry in the United States is also influenced by environmental regulations and technological innovations. The demand for VOC-free products and the use of nanotechnology present both challenges and opportunities for market expansion. The construction sector, bolstered by a strong economy and increased federal and state funding, continues to drive the demand for architectural coatings. Residential construction has seen a surge due to low-interest rates and rising housing demand, further boosting the market. The industry is highly consolidated, with major players like The Sherwin-Williams Company and PPG Industries holding significant market shares. Recent expansions and investments by key companies indicate a strategic focus on increasing production capacity and reducing environmental impact, supporting the anticipated growth of the market during the forecast period.

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United States Paints and Coatings Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Drivers

      1. 1.1.1 Increasing Commercial Construction Activities in the United States

      2. 1.1.2 Other Drivers

    2. 1.2 Restraint

      1. 1.2.1 Strict Regulations on the Usage of VOC-Free Contents

      2. 1.2.2 Substitution of Alternative Chemicals

      3. 1.2.3 Unfavorable Conditions Arising Due to the Impact of COVID-19

    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

    1. 2.1 Resin Type

      1. 2.1.1 Acrylic

      2. 2.1.2 Alkyd

      3. 2.1.3 Polyurethane

      4. 2.1.4 Epoxy

      5. 2.1.5 Polyester

      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 Other Technologies

    3. 2.3 End-user Industry

      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

United States Paints and Coatings Market Size FAQs

The United States 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., Masco Corporation and Benjamin Moore & Co. are the major companies operating in the United States Paints and Coatings Market.

US Paints and Coatings Market Report Snapshots

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