Market Trends: Coatings Industry Continues to Evolve
The recent sharp drop in oil prices could force coatings prices lower if continued.
Kusumgar, Nerlfi & Growney recently announced it has begun its fifth “U.S. Paint & Coatings Industry” study. The industry is reportedly continuing its recovery from the global recession of 2008-2009. Consumption is projected to be 8.8 billion dry lbs (excluding water and solvent) in 2015, valued at some $28 billion. Despite being, a mature industry, coatings continue to evolve to meet the challenges of regulations, growing consumer demands, increased emphasis on sustainable products, globalization, cost pressures, etc. The recent sharp drop in oil prices could force coatings prices lower if continued.
Architectural coatings are projected to capture just over one-half of the volume in 2015. While volume is still somewhat below the peak level of 2006, it has grown modestly in recent years. Pricing is up as material costs have increased and products have become more sophisticated.