U.S demand for paints and coatings is predicted to mount by 2012 and 2017
By Bharat Book
The demand for paints and coatings in U.S is forecast to come up to $23 billion in 2012. Volume gains are projected to accelerate from the sluggishness of the period between 2002 and 2007, when an economic slowdown, combined with high raw material costs and increasingly stringent environmental regulations took a toll on the US paints and coatings industry. However, growth is aided for both construction and manufacturing activity by an improving outlook.
Architectural paints represent the largest segment of the overall paints and coatings market, accounting for approximately half of demand in both volume and value terms. The residential market will continue to account for the vast majority of architectural paint demand and will benefit from rebounding growth in residential construction activity, as well as a significant turnaround in new housing starts through 2012. Demand for interior paint will outpace that for exterior paint, as demand for the latter will be restrained by the ongoing popularity of siding materials, such as vinyl, which do not require paint. However, rapid growth in the use of fiber cement -- a paintable siding material -- will bode well for exterior paint demand.
Coatings used in the manufacture of various goods will benefit from an expected acceleration in manufacturing activity from the poor performance of the previous decade. The motor vehicle market will continue to account for a significant portion of coatings demand and will be supported by a projected rebound in motor vehicle production. Metal building components will be among the fastest growing markets within this segment, with growth attributable to the greater use of prefabricated metal building systems in the US construction industry, particularly in nonresidential settings, where the functionality and labor cost savings of these systems are most beneficial.
The market share held by traditional solvent-based coatings will continue to erode as these products are replaced by water-based, high solids, powders and other non-solvent coatings. Increasingly stringent environmental regulations have focused on the reduction of volatile organic compound (VOC) emissions. Going forward, demand will benefit from the development of environmentally friendly formulations that offer increased efficiency as well as improved quality and enhanced durability.
Bharatbook.com included a new report titled “Paints & Coatings forecasts for 2012 & 2017” which presents historical demand data plus forecasts for 2012 and 2017 by material, product, market and application. The study also considers market environment factors, evaluates company market share data and profiles leading competitors.
For further information kindly visit: http://www.bharatbook.com/detail.asp?id=81410
About the author
About Bharatbook.com:
Bharat Book Bureau facilitates companies to take the lead of their industry with best practice business strategies and intelligence, through a unique combination of published reports, databases, country reports, company profiles and customized research services. Bharat Book Bureau provides strategic information tools to the executives, business analysts, and knowledge managers that will help them to probe into and support critical, timely business decisions and strategies.
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