U.S. Coatings Sales to Reach 1.4 Billion Gal in 2020
Demand will be bolstered by the continuing recovery of the construction industry.
Demand for coatings in the U.S. is projected to rise 2.3% per year to 1.4 billion gal in 2020, according to “Paint & Coatings: US Market Forecasts,” a recent report from The Freedonia Group. Advances will reportedly decelerate modestly in both volume and value terms over the forecast period. However, demand will be bolstered by the continuing recovery of the construction industry, which will boost sales of architectural paint.
Growth in the architectural paint market, spurred by healthy increases in residential construction spending, will provide the majority of coatings gains.
Demand for coatings used in manufacturing (OEM) markets is predicted to expand at a below-average pace through 2020. However, several segments will surpass pre-recession 2005 levels.
Demand for protective and specialty coatings is forecast to rise modestly through 2020, marking an improvement from the performance of the previous decade.
For more information, visit www.freedoniagroup.com.