When the coronavirus pandemic spread, it disrupted all industries, with some hit harder than others. Fortunately, some industries (or segments of industries) are actually experiencing a significant upturn as a result of the pandemic that will help them thrive. One such industry is the paint and coatings industry.
As countless people stayed home during 2020, they had the time to focus on household projects. There was also a major uptick in relocations, as indefinite work-from-home arrangements increased flexibility. As restrictions began to lift, delayed construction projects were renewed, further accelerating the focus on home improvements. As a result, many manufacturers in the paint and coating industry are experiencing a growing demand, putting them in a unique position where demand is far greater than supply.