Another Banner Year for the Paint and Coatings Industry
The data in this year's listings substantiate the information in PCI Contributing Editor Edward Bourguignon's Marketplace: 2005 Year End Report published in the May 2006 issue of this magazine. The report gives high marks for the industry in 2005 based on data from the U.S. Census Bureau. Bourguignon states that for the year 2005, although the quantity of paint and coatings rose only 2.5% to 1,445.1 million gallons, the value increased to $19,472.7 million for a great finish of 6.7% over 2004. Both the volume and value were all-time annual records for the industry. This was the fourth year in a row of record performance. Even though architectural coatings led the charge for the year, both product OEM and special purpose coatings contributed to the good success. (To access the entire report, visit www.pcimag.com.)
In general, companies in both the global and domestic listings reported higher sales in 2005 than in 2004. There may be a couple of concerns. The biggest paint makers included in the listings may have gained market share from smaller players who did not make the list. Also, some of the larger numbers may be attributed to acquisitions of former entries in the listings.