Strong Demand Expected for U.S. Coatings Market
The U.S coatings market will continue to be impacted by the trend toward sustaina-bility. Due to growing environmental concerns, the industry has been subject to increasingly stringent government regulations, which are driving coatings manufacturers to invest heavily in the development of innovative, higher-value formulations. These and other trends are presented in Paint & Coatings, a new study from The Freedonia Group Inc., a Cleveland-based industry market research firm.
The large architectural market will advance at an annual rate of 10.8 percent through 2015, reaching more than $14 billion. Demand will be promoted by renewed strength in the housing market, particularly as home-building activity rebounds from low 2010 levels. The interior component of the architectural paint market will remain larger and grow faster than its exterior counterpart.
Sales of coatings in manufacturing markets will expand at a respectable rate through 2015, reversing the downward trend of the 2000-2010 period. Among the various market segments, furniture and fixtures will enjoy one of the best growth prospects and will remain the leading outlet for coatings over the forecast period. However, the motor vehicle sector will post more rapid gains, recapturing its position as the second-largest outlet for coatings among manufacturing markets.
Maintenance and specialty coatings will remain the smallest market through 2015. Key outlets include industrial maintenance, and road and bridge markets. Both are expected to advance at above-average rates, promoted by increased nonresidential improvement and repair activity and by greater spending directed toward the maintenance of the nation’s aging infrastructure.
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