Report Projects Solid Growth for U.S. Paint, Coatings Market
COMMACK, NY - The U.S. market for paint and coatings rebounded with growth of 3.9% in 2003 and will continue to expand this year, hitting an estimated total dollar value of $18.2 billion, a newly issued industry study estimates.
"The 2004/2005 Outlook for the Paints and Coatings Industry" from Business Trend Analysts says demand for architectural coatings remained strong during most of the economic downturn of 2000-2002, although results within the segment are described as "quite mixed." The report says sales of OEM transportation finishes fell by 1.4% to an estimated $1.66 billion in 2003, with the decline attributed to the poor performance of the automotive segment.