United States Paints and Coatings Market Size Analysis - Market Share, Forecast Trends and Outlook Report (2024-2032)

United States Paints and Coatings Market Growth

The demand for the United States paints and coatings market fulfils multiple roles: shielding and beautifying residential and commercial buildings, finishing, and protecting vehicles, maintaining machinery and infrastructure, improving consumer goods, and offering specialized protection for marine and aerospace uses.

The United States paints and coatings market dynamics indicate that stricter regulations on volatile organic compound emissions are likely to drive increased demand for sustainable paints and coatings. This is because sustainable paints and coatings are manufactured from renewable sources, which helps in minimising waste generation and reducing the carbon footprint. The growing focus on sustainability is also expected to increase the demand for water-borne coatings, thereby contributing towards the United States paints and coatings industry growth.

United States Paints and Coatings Market Analysis

The United States paints and coatings market dynamics and trends are influenced by the growing popularity of self-cleaning coatings across construction, furniture, and automotive sectors. These coatings decompose impurities when exposed to sunlight, allowing them to be easily washed away with water. The increasing importance attached to the maintenance of the aesthetic appeal of houses and other items is expected to drive the United States paints and coatings market revenue.

The integration of artificial intelligence and the Industrial Internet of Things into the manufacturing process has enabled in-process detection of defects in industrial paints and coatings, which has led to an improvement in product quality. Moreover, the incorporation of nanoparticles such as metals into industrial coatings for specific applications such as electrical conductivity, UV resistance, or stronger adhesion is expected to garner increasing appeal among key industrial players, thereby driving the growth of the United States paints and coatings industry.

United States Paints and Coatings Industry Outlook

According to the US Census Bureau, national spending on non-residential buildings showed a steady upward trend from 2012 to 2019, indicating strong growth in the U.S. In 2012, spending was USD 355 billion, rising by 5.3% from the previous year. This growth continued in 2013 with a 2.2% increase to USD 362 billion, and surged by 8.7% in 2014, reaching USD 394 billion. In 2015, spending jumped 14.8% to USD 453 billion. The growth rate moderated to 7.5% in 2016, with total spending hitting USD 487 billion. In 2017, spending rose by 3.6% to USD 504 billion, followed by a 5.2% increase in 2018, bringing the total to USD 530 billion. By 2019, spending had reached USD 552 billion, reflecting a 4.0% increase from 2018. This increase in the spending on non-residential buildings has resulted in driving the growth of United States paints and coatings market as these buildings require a variety of coatings, including protective, decorative, and speciality coatings.

According to the American Housing Surveys, spending on homeowner improvements in the U.S. steadily increased from 2012 to 2023, reflecting significant growth in the remodelling market. In 2012, expenditures were about USD 186 billion, rising to around USD 200 billion in 2013. Spending further increased to approximately USD 215 billion in 2014 and USD 226 billion in 2015. By 2016, it had climbed to about USD 234 billion. The market saw a notable jump in 2017, reaching around USD 243 billion. In 2018, spending rose to approximately USD 260 billion, and in 2019, it grew to about USD 265 billion. The upward trend continued in 2020 with spending at around USD 286 billion and surged to approximately USD 325 billion in 2021. Spending reached about USD 370 billion in 2022 and USD 390 billion in 2023. As homeowners invest more in remodelling and renovations, they require various paints and coatings for interior and exterior applications. This rising demand directly fuels market growth.

Broad usage across industries like construction, automotive, and consumer goods drives consistent demand in the United States paints and coatings market.

• Continuous advancements in coatings technology enhance performance, sustainability, and functionality.
• The presence of well-established companies ensures robust supply chains and market stability.

Stricter environmental regulations can increase production costs and complexity.

• Fluctuations in the cost of raw materials can impact profit margins.
• High competition and market saturation may limit growth opportunities for new entrants.

Growing demand for eco-friendly and low-VOC coatings presents new opportunities in the United States paints and coatings market.

• The development of advanced coatings, such as self-cleaning and anti-corrosive, offers innovation potential.
• Increasing infrastructure development in emerging markets can drive growth.

Economic slowdowns can reduce demand for paints and coatings across various sectors.

• Disruptions in global supply chains can affect product availability and pricing.
• High competition from both domestic and international players can pressure margins and market share.

Key Players in the United States Paints and Coatings Market and Their Key Initiatives

BASF SE

• Partnered with Carlisle Construction Materials. 
• Launched ACRONAL MB acrylic binders to meet the growing demand of the United States paints and coatings market.

PPG Industries, Inc.

• Launched “PPG SilverSan”, antimicrobial coatings. 
• Developed high-performance, weather-resistant coatings.

Axalta Coating Systems Ltd.

• Expanded digital color-matching technology. 
• Enhanced sustainable coatings portfolio to capture the United States paints and coatings market opportunities.

Sherwin-Williams Co.

• Released Environmental Product Declarations (EPDs). 
• Launched "Sustainability by Design" program.

United States Paints and Coatings Industry Segmentation

“United States Paints and Coatings Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:

Market Breakup by Resin Type

• Epoxy
• Acrylics
• Alkyd
• Polyurethane
• Polyester
• Others

Market Breakup by Technology

• Water-Borne
• Solvent-Borne
• Powder Coating
• UV-Cured Coating

Market Breakup by End Use

• Automotive
• Protective Coatings
• Transportation
• Architectural
• Packaging
• Others

Market Breakup by Region

• New England
• Mideast
• Great Lakes
• Plains
• Southeast
• Southwest
• Rocky Mountain
• Far West

United States Paints and Coatings Market Share

In the U.S. market, automotive paints and coatings enhance vehicle aesthetics with diverse colours and finishes, offering protection from environmental damage like UV rays and rain, which extends vehicle lifespan and resale value. Protective coatings provide crucial durability across various sectors by resisting corrosion and harsh conditions, which prolongs the life of infrastructure and equipment and reduces maintenance costs. They also enhance safety with features such as anti-slip, fire-resistant, and chemical-resistant properties. These benefits collectively improve the performance and cost-effectiveness of both automotive and protective coatings driving the United States paints and coatings demand growth.

Leading Companies in the United States Paints and Coatings Market

The companies excel in innovative coatings for automotive, industrial, and architectural uses, offering high-performance solutions that enhance durability and aesthetics while providing sustainable options for various industry needs.

• BASF SE 
• PPG Industries, Inc. 
• Axalta Coating Systems Ltd. 
• Sherwin-Williams Co. 
• Nippon Paint Holdings Co. Ltd. (Dunn-Edwards Corporation) 
• RPM International Inc. 
• Benjamin Moore & Co. 
• 3M Co. 
• Akzo Nobel N.V. 
• Masco Corporation