United States. Demand for paints and coatings is expected to increase by 7.8% annually to $26.2 billion in 2015. The market expects to expand strongly in terms of volume and value recovering from the impact of the economic downturn between 2005 and 2010. According to a study conducted by The Freedonia Group Inc.
In that period, construction spending and manufactured goods fell, reducing demand for coatings in key markets. But due to the growing environmental trend, the industry has been subject to increasing its government regulations, which lead the manufacturers of this solution to develop and innovate in high-value formulations.
The architectural market is growing in an annual range of 10.8% through 2015, to more than $14 billion. This demand will be promoted by the strengthening of the residential market, as a response to the low levels of 2010. The interior component of the architectural paint market will remain larger and grow faster than its outer counterpart.
Sales of paints and 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 accessories will enjoy one of the best growth prospects, and will remain the main outlet for coatings during the forecast period. However, in the automotive sector more quick gains will be published, resuming its position as the second market for coatings for manufacturers.
Special and maintenance coatings will keep the market smaller until 2015. The key markets will be industrial development and roads and bridges. Both are expected to advance at above-average rates, driven by improved and increased non-residential and repair activity, and by increased spending directed toward maintaining the nation's aging infrastructure.
