US demand to exceed $25 billion in 2015
Paint & Coatings Market to 2015 – US demand for paint and coatings is forecast to exceed $25 billion in 2015. The market is expected to expand strongly in both volume and value terms, rebounding from the declines of the recessionimpacted 2005-2010 period. During this time, construction spending and manufactured goods output both fell, reducing coatings demand in the key architectural and manufacturing markets. Through 2015, growth will be fueled by renewed strength in manufacturing and construction activity as the US economy continues its economic recovery. Increasing domestic demand will boost production levels, as will favorable export opportunities, particularly in Asia and Mexico.

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Architectural market to provide best opportunities
The architectural market will continue to account for the largest share of paint and coatings demand in the US. Advances will outpace those of the other major segments through 2015, promoted by renewed strength in the housing market. In particular, home building activity will rebound from the low 2010 level, boosting paint and coating sales. Going forward, the interior component of the architectural paint market will remain considerably larger than the exterior segment, and growth in demand for interior paint will outpace that for exterior paint. The outlook for exterior coatings will continue to be affected by the introduction of more efficient products, which can cover more square footage per gallon, as well as the growing popularity of siding materials, such as vinyl, which do not require painting. On the bright side, however, demand for exterior paint will be promoted by the rising use of one alternative siding material — fiber cement — in the US housing industry. Unlike vinyl, fiber cement siding can be painted. To the extent that fiber cement displaces vinyl siding, this trend will provide opportunities for exterior paint demand.

Sales of paint 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, the furniture and fixture sector will have the best opportunities for growth, and will remain the leading outlet for coatings over the forecast period. However, the motor vehicle sector will post more rapid gains, regaining its position as the second largest outlet for coatings among manufacturing markets. Although demand will benefit from strong growth in motor vehicle output, this will be offset to some extent by a move toward smaller, more fuel-efficient automobiles at the expense of larger light vehicles such as sport utility vehicles. This will limit coatings volume growth given that smaller vehicles generally require less paint on a per vehicle basis.

Maintenance and specialty coatings will remain the smallest market through 2015. Advances in this segment will trail those of the architectural and manufacturing markets. This is due in part to the fact that demand for maintenance and specialty coatings was more insulated from the difficult economic conditions present during the 2005-2010 period, and will therefore also not be as positively impacted by the improved economic outlook as the other market segments. Key outlets include industrial maintenance, and road and bridge markets. Both are expected to advance at above-average rates through 2015, promoted by greater nonresidential improvement and repair activity, and greater spending directed toward the maintenance of the nation’s aging infrastructure.

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