United States. The American Coatings Association (ACA) revealed that the paint and coatings industry in this nation would grow by $23.6 billion in 2015, according to a 2010-2015 market study by ChemQuest Group.
The study indicates that the paints and coatings market will respond to improvements in both manufacturing and construction with a significant increase in both volume and value. Increased domestic demand and favorable export opportunities will drive growth demand for paint and coating production in the U.S.
With 56% in volume and 49% in 2010 value, the architectural segment continues to be the most important, thanks to the resurgence in the construction sector, specifically in the residential market. ChemQuest estimates that annually this sector will grow by 6.1% in value and 2.9% in volume.
The report also says that the architecture segment will face opportunities and challenges by 2015, with the use of vinyl siding that would decrease the need for exterior architectural paint. Cement fiber coating is also likely to have a share of the vinyl coatings market, so it is taken as a plus for the architectural paint segment.
For more information about the study you can click here.
