North America Paints and Coatings Market Introduction and Overview
According to SPER Market Research, the North America Paints and Coatings Market is estimated to reach USD XX million by 2033 with a CAGR 4.21%.
The report includes an in-depth analysis of the North America Paints and Coatings Market, including market size and trends, product mix, distribution channels, and supplier analysis. Paints and coatings are materials that are used on surfaces to improve their look, shield them from the elements, or change their characteristics. Pigments are typically suspended in a binder or resin in paints, which stick to surfaces and dry to produce colored films. They offer visual appeal as well as a degree of resistance to wear, corrosion, and weathering. Conversely, coatings cover a wider variety of goods intended to provide certain performance advantages.
- In January 2023, AkzoNobel will have used only renewable energy in all of its North American facilities, contributing to the company's target of a 50% reduction in carbon emissions throughout the whole value chain by 2030.
- Sherwin-Williams invested $300 million to start construction in October 2022 to expand its production and distribution operations in Statesville, North Carolina.
Market Opportunities and Challenges
Opportunities: Growing Requirements from the Architecture Sector - The architecture industry uses paints and coatings extensively for both interior and outdoor applications. The outside of the house is painted or coated to give it a fresh appearance and to shield it from the elements—freezing winters, sweltering summers, torrential rain, and constant exposure to UV rays—without fading, peeling, or breaking. The purpose of architectural coatings is to adorn and safeguard the surface elements. These are applied to houses and buildings. Most are designed for specialized applications, such wall paints and roof coatings. Commercial applications for architectural coatings include office buildings, warehouses, retail convenience stores, shopping malls, and residential structures. Furthermore, Throughout the projection period, the region's burgeoning industries and expanding infrastructure are driving the market's expansion.
Challenges: There are various challenges that the North American paint and coatings sector must overcome to continue expanding and growing. The strict regulatory framework pertaining to environmental and health requirements is one major problem. Manufacturing must constantly innovate to comply with regulations pertaining to hazardous materials and volatile organic compounds (VOCs), which frequently drives up production costs. Furthermore, the industry is impacted by changes in the cost of raw materials, especially pigments and resins, which can cause supply chains to break down and have an impact on profit margins. Low-cost foreign suppliers are becoming a bigger competitor in the market, which puts pressure on domestic producers to maintain competitive price while maintaining quality standards.
Market Competitive Landscape
The paint and coatings industry in North America is highly consolidated. Among the leading companies in the market are Benjamin Moore & Co., Akzo Nobel N.V., Sherwin-Williams Company, PPG Industries, Inc., and RPM International Inc.
Scope of the report:
| Report Metric | Details |
| Market size available for years | 2020-2033 |
| Base year considered | 2023 |
| Forecast period | 2024-2033 |
| Segments covered | By Resin Type, By Technology, By End User
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| Regions covered | United States, Canada, Mexico, Rest of North America
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| Companies Covered | 3M, Akzo Nobel N.V., Axalta Coatings Systems, BASF SE, Beckers Group, Benjamin Moore & Co., Cloverdale Paint Inc., Diamond Vogel, Dunn-Edwards Corporation, Hempel A/S, Kelly-Moore Paints, Masco Corporation, Parker Hannifin Corp, PPG Industries, Inc., RPM International Inc., and Others.
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COVID-19 Impact on North America Paints and Coatings Market
The COVID-19 pandemic had a profound effect on the paints and coatings sector in North America, resulting in disruptions in multiple areas. Lockdowns and other limitations during the early stages of the pandemic caused manufacturing facilities to temporarily close and caused delays in construction and remodeling projects. As a result, there was a significant drop in the market for architectural and industrial coatings. To make matters worse, the market also experienced disruptions in the supply chain, such as delays in logistics and shortages of raw materials. But as things got better, there was a noticeable upturn that was fueled by more people doing house renovations and a spike in infrastructure spending meant to promote economic recovery. As a result of growing health concerns, the pandemic spurred trends towards a greater emphasis on hygiene and antimicrobial qualities in coatings.
Key Target Audience:
- Residential Consumers
- Commercial Property Managers
- Industrial Manufacturers
- Construction and Renovation Professionals
- Automotive Industry
- Architects and Designers
- Marine Industry
- OEMs (Original Equipment Manufacturers)
Our in-depth analysis of the North America Paints and Coatings Market includes the following segments:
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By Resin Type:
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Acrylics
Alkyd
Epoxy
Polyester
Polyurethane
Other
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By Technology:
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Water-borne
Solvent-borne
Powder Coating
UV-cured Coating
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By End User:
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Architectural
Automotive
Wood
Protective Coatings
General Industrial
Transportation
Packaging
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Key Topics Covered in the Report:
- North America Paints and Coatings Market Size (FY’2024-FY’2033)
- Overview of North America Paints and Coatings Market
- Segmentation of North America Paints and Coatings Market By Resin Type (Acrylics, Alkyd, Epoxy, Polyester, Polyurethane, Other)
- Segmentation of North America Paints and Coatings Market By Technology (Water-borne, Solvent-borne, Powder Coating, UV-cured Coating)
- Segmentation of North America Paints and Coatings Market By End User (Architectural, Automotive, Wood, Protective Coatings, General Industrial, Transportation, Packaging)
- Expansion Analysis of North America Paints and Coatings Market
- Problems and Obstacles in North America Paints and Coatings Market
- Competitive Landscape in the North America Paints and Coatings Market
- Impact of COVID-19 and Demonetization on North America Paints and Coatings Market
- Details on Current Investment in North America Paints and Coatings Market
- Competitive Analysis of North America Paints and Coatings Market
- Prominent Players in the North America Paints and Coatings Market
- SWOT Analysis of North America Paints and Coatings Market
- North America Paints and Coatings Market Future Outlook and Projections (FY’2024-FY’2033)
1. Introduction
1.1. Scope of the report
1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data
2.1.2. Primary Data
2.1.3. SPER’s internal database
2.1.4. Premium insight from KOL’s
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers
4.1.2. Restraints
4.1.3. Opportunities
4.1.4. Challenges
4.2. COVID-19 Impacts of the North America Paints and Coatings Market
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths
5.1.2. Weaknesses
5.1.3. Opportunities
5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape
5.2.2. Economic Landscape
5.2.3. Social Landscape
5.2.4. Technological Landscape
5.2.5. Environmental Landscape
5.2.6. Legal Landscape
5.3. PORTER’s Five Forces
5.3.1. Bargaining power of suppliers
5.3.2. Bargaining power of buyers
5.3.3. Threat of Substitute
5.3.4. Threat of new entrant
5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. North America Paints and Coatings Market Manufacturing Base Distribution, Sales Area, Product Type
6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in North America Paints and Coatings Market
7. North America Paints and Coatings Market, By Resin Type (USD Million) 2020-2033
7.1. North America Paints and Coatings Market Size, Share and Forecast, By Resin Type, 2020-2026
7.2. North America Paints and Coatings Market Size, Share and Forecast, By Resin Type, 2027-2033
7.3. Acrylics
7.4. Alkyd
7.5. Epoxy
7.6. Polyester
7.7. Polyurethane
7.8. Other
8. North America Paints and Coatings Market, By Technology (USD Million) 2020-2033
8.1. North America Paints and Coatings Market Size, Share and Forecast, By Technology, 2020-2026
8.2. North America Paints and Coatings Market Size, Share and Forecast, By Technology, 2027-2033
8.3. Water-borne
8.4. Solvent-borne
8.5. Powder Coating
8.6. UV-cured Coating
9. North America Paints and Coatings Market, By End User (USD Million) 2020-2033
9.1. North America Paints and Coatings Market Size, Share and Forecast, By End User, 2020-2026
9.2. North America Paints and Coatings Market Size, Share and Forecast, By End User, 2027-2033
9.3. Architectural
9.4. Automotive
9.5. Wood
9.6. Protective Coatings
9.7. General Industrial
9.8. Transportation
9.9. Packaging
10. North America Paints and Coatings Market Forecast, 2020-2033 (USD Million)
10.1. North America Paints and Coatings Market Size and Market Share
11. North America Paints and Coatings Market, By Region, 2020-2033 (USD Million)
11.1. North America Paints and Coatings Market Size and Market Share By Region (2020-2026)
11.2. North America Paints and Coatings Market Size and Market Share By Region (2027-2033)
11.3. United States
11.4. Canada
11.5. Mexico
11.6. Rest of North America
12. Company Profile
12.1. 3M
12.1.1. Company details
12.1.2. Financial outlook
12.1.3. Product summary
12.1.4. Recent developments
12.2. Akzo Nobel N.V.
12.2.1. Company details
12.2.2. Financial outlook
12.2.3. Product summary
12.2.4. Recent developments
12.3. Axalta Coatings Systems
12.3.1. Company details
12.3.2. Financial outlook
12.3.3. Product summary
12.3.4. Recent developments
12.4. BASF SE
12.4.1. Company details
12.4.2. Financial outlook
12.4.3. Product summary
12.4.4. Recent developments
12.5. Beckers Group
12.5.1. Company details
12.5.2. Financial outlook
12.5.3. Product summary
12.5.4. Recent developments
12.6. Benjamin Moore & Co.
12.6.1. Company details
12.6.2. Financial outlook
12.6.3. Product summary
12.6.4. Recent developments
12.7. Cloverdale Paint Inc.
12.7.1. Company details
12.7.2. Financial outlook
12.7.3. Product summary
12.7.4. Recent developments
12.8. Diamond Vogel
12.8.1. Company details
12.8.2. Financial outlook
12.8.3. Product summary
12.8.4. Recent developments
12.9. Dunn-Edwards Corporation
12.9.1. Company details
12.9.2. Financial outlook
12.9.3. Product summary
12.9.4. Recent developments
12.10. Hempel A/S
12.10.1. Company details
12.10.2. Financial outlook
12.10.3. Product summary
12.10.4. Recent developments
12.11. Kelly-Moore Paints
12.11.1. Company details
12.11.2. Financial outlook
12.11.3. Product summary
12.11.4. Recent developments
12.12. Masco Corporation
12.12.1. Company details
12.12.2. Financial outlook
12.12.3. Product summary
12.12.4. Recent developments
12.13. Parker Hannifin Corp
12.13.1. Company details
12.13.2. Financial outlook
12.13.3. Product summary
12.13.4. Recent developments
12.14. PPG Industries, Inc.
12.14.1. Company details
12.14.2. Financial outlook
12.14.3. Product summary
12.14.4. Recent developments
12.15. RPM International Inc.
12.15.1. Company details
12.15.2. Financial outlook
12.15.3. Product summary
12.15.4. Recent developments
12.16. Others
13. Conclusion
14. Reference Links
15. List of Abbreviations
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
