NEW YORK, NY – The U.S. market for coatings will see full recovery by the end of 2012, with steady growth through the next 10 years. Water-based coatings will experience significant growth and lead the market, which is expected to reach $5.97 billion by 2021. This and other information is found in Paints and Coatings, U.S. Market - 2nd Edition, a recent report by publisher SBI.
According to the report, growth in the construction and remodeling industries will yield increases in the market for coatings. "Architecture produced roughly 736.4 million gallons of paints in 2011," said Shelley Carr, Publisher of SBI. "Increases in the U.S. population will see the construction of more housing."
Currently, environmentally friendly paints are the driving trend in consumer attitudes and regulations, which have paved the way to an increased market for economically feasible water-based paints. This is spurred by use in architecture and the automotive industry, which are looking for more efficient coatings that require fewer solvents and coats, as well as less energy in application.
"The shift towards water-based paints is an easy plus for companies looking to move towards green initiatives," added Carr. "There are a handful of new technologies, as well, that reflect sunlight to keep buildings cooler, contain less solvents and are asthma/allergy friendly."
Paints and Coatings, U.S. Market - 2nd Edition contains comprehensive historical data (2007-2011) and forecast data (2012-2021) for the coatings market, including the industry’s sub-segments divided by application and type. It also tracks the overall shift in the market away from solvent-based paints and towards more environmentally friendly water-based paints. It also profiles major market players.
For additional information about the report, visit www.sbireports.com.
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