US Paints & Coatings Market is expected to grow at a robust CAGR
US Paints
& Coatings Market is expected to grow owing to increasing commercial
construction throughout the forecast period.
According to
TechSci Research report, “US
Paints & Coatings Market –
By Region, Competition, Forecast and Opportunities, 2018-2028”, the US
Paints & Coatings Market is expected to register robust growth during the
forecast period. The increase in construction activities and growing demand for
paints and coatings across various sectors such as consumer goods, automobiles,
and industrial maintenance applications are significant drivers of the market's
growth. The rise in construction investments, coupled with government
regulations aimed at stimulating the housing sector's recovery, are expected to
positively impact future construction developments.
The demand for
high-performance coatings in specialized industries such as aerospace,
automotive, and energy is increasing. The development of innovative coatings
that provide superior protection against corrosion, extreme temperatures, and
chemical exposure presents lucrative opportunities. Advancements in
nanotechnology and materials science have facilitated the creation of coatings
with exceptional properties, making them highly desirable for industries that
prioritize performance and durability.
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Based on resin
type,
the acrylic segment
is expected to dominate the market during the forecast period. Acrylic resins
occupy a significant share of the U.S. Paints & Coatings Market, owing to
their exceptional versatility in both architectural and industrial coatings.
Their dominance in the market stems from their wide-ranging applications in
architectural coatings, particularly for interior and exterior paints. These
resins boast remarkable attributes such as outstanding adhesion, color
retention, and weather resistance, making them the preferred choice for
residential and commercial applications. In the realm of industrial and
protective coatings, acrylic resins are highly valued for their
corrosion-resistant properties, finding utility in metal coatings, pipelines,
and industrial equipment that demand robust defense against harsh environments.
The increasing popularity of water-based acrylic coatings, particularly in
architectural applications, can be attributed to their low odor, low toxicity,
and ease of cleanup, while also aligning with environmental regulations and
consumer preferences for eco-friendly options. Ongoing research and development
endeavors in the acrylic resin sector have yielded high-performance coatings
with advanced features like self-cleaning properties, heat resistance, and
anti-graffiti capabilities, thereby expanding their potential across various
industries. With applications spanning construction, automotive, aerospace,
marine, and industrial equipment sectors, acrylic resins present diverse
opportunities for manufacturers to broaden their customer base.
Based on end-user
industry, the Architectural segment is projected to dominate the market
throughout the forecast period. The United States continues to undergo
population growth, particularly in urban areas, thereby driving the demand for
residential and commercial spaces. This demographic trend contributes to a
consistent need for architectural coatings. Stricter environmental regulations,
such as limitations on volatile organic compounds (VOCs) and hazardous air
pollutants, have influenced the formulation of architectural coatings.
Manufacturers are responding by developing low-VOC and environmentally-friendly
options to ensure compliance with these regulations. Water-based architectural
coatings, including latex paints, have gained significant popularity due to
their low odor, ease of cleanup, and reduced toxicity compared to solvent-based
alternatives. The shift towards water-based coatings is driven by both
regulatory requirements and consumer preferences for eco-friendly choices.
Consumers and designers are increasingly seeking customization options in
coatings. Manufacturers are meeting this demand by offering a wide range of
colors, textures, and finishes to cater to aesthetic preferences. Customization
is particularly prominent in the residential market. Moreover, many existing
buildings and structures necessitate maintenance and renovation, wherein
coatings play a vital role in preserving and extending their lifespan.
Manufacturers can target this market segment by providing coatings specifically
designed for restoration and protection. Digitalization has also made a
significant impact on the architectural coatings industry through the
introduction of color matching tools and mobile applications that allow
consumers and professionals to select and visualize paint colors. These tools
streamline the color selection process and enhance the overall user experience.
Key market
players in the US Paints & Coatings Market are:-
- Akzo Nobel N.V.
- Axalta Coatings Systems
- Beckers Group
- Benjamin Moore & Co.
- Diamond Vogel
- Hempel A/S
- Kelly-Moore Paints
- Masco Corporation
- Parker Hannifin Corp
- PPG Industries, Inc.
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“The US Paints
& Coatings Market in North-East US is poised to be the dominant force in
the industry. The Northeast region boasts a multitude of esteemed research
institutions, universities, and innovation hubs. This vibrant ecosystem
cultivates collaboration and fosters innovation in the field of coatings
technology. Manufacturers can harness these invaluable resources to engineer
state-of-the-art coatings that exhibit advanced properties, ranging from
self-healing capabilities to intelligent coatings for structural integrity
monitoring.” said Mr. Karan Chechi, Research Director with TechSci Research, a
research-based global management consulting firm.
“US Paints
& Coatings Market Segmented By Resin Type (Acrylic, Alkyd, Polyurethane,
Epoxy, Polyester and Others), By Technology (Water-borne, Solvent-borne, Powder
Coating and Others), By End-user Industry (Architectural, Automotive, Wood,
Protective Coatings, General Industrial, Transportation and Packaging), By
Region, and By Competition, 2018-2028 ,” has evaluated the
future growth potential of US Paints & Coatings Market and provides
statistics & information on market size, structure, and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in US Paints & Coatings Market.
Contact
Mr. Ken Mathews
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Manhattan, NY,
New York – 10017
Tel: +1-646-360-1656
Email: [email protected]
Website: https://www.techsciresearch.com