North America Architectural Coatings Market SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS UP TO 2028

North America Architectural Coatings Market SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS UP TO 2028

The North America Architectural Coatings Market is projected to register a CAGR of 3.41%

Key Highlights

• Largest Segment by End-user - Residential : The rise in the country's housing stock, accompanied by strong sales in the do-it-yourself (DIY) and repaint segments, has increased the consumption of residential coatings.
• Fastest Segment by Technology - Waterborne : The strict adoption of VOC regulations in the US and Canada and the rising preference for LEED-certified buildings have increased waterborne coating consumption.
• Largest Segment by Resin - Acrylic : The mature market for waterborne resin-based coatings in the region created a major share for acrylic coatings' consumption, as they have low VOC emissions and cost less.
• Largest Segment by Country Market - United States : The United States is the leading country in architectural coatings consumption due to its higher housing stocks and remodeling index compared to other countries in the region.

North America Architectural Coatings Market Trends

Residential is the largest segment by Sub End User.

• Among the end-user segments, the residential segment dominated the construction sector in 2020, generating the highest demand for architectural coatings in the North American market. In North America, architectural coating consumption was the highest in the United States, followed by Canada and Mexico.
• In the US and Canada, the construction sector witnessed volatile growth during 2016-2020. The residential sector declined in 2018-2019 due to rising household debts and mortgage prices, and the commercial sector declined in 2020-2021 due to the COVID-19 pandemic. Mexico recorded decent growth till 2019 before declining in 2020 due to fewer new housing projects.
• The recovery in sales and production is expected throughout North America from 2022 onwards due to economic recovery, commercial sector growth, strong housing growth, and the increasing inflow of immigrants into countries like Canada.

United States is the largest segment by Country.

• In North America, architectural coating consumption was the highest in the US, followed by Mexico and Canada. In the United States and Canada, fluctuating growth of architectural coating consumption was observed during 2016-2020 due to volatility in the residential and commercial sectors. However, Mexico recorded steady growth till 2019, before a dip in 2020.
• In 2020, architectural coating consumption in North America declined compared to 2019. This decline was triggered by the COVID-19 outbreak, which negatively affected the production and growth of the commercial sector due to the closure of non-essential services.
• Canada and the United States are mature markets and witnessed steady growth in the consumption of different types of coatings during 2021-2026. However, Mexico is expected to see better growth in the waterborne coatings segment due to the upcoming changes in VOC limitations.

North America Architectural Coatings Industry Overview

The North America Architectural Coatings Market is fairly consolidated, with the top five companies occupying 65.23%. The major players in this market are Benjamin Moore & Co., Diamond Vogel, PPG Industries, Inc., RPM International Inc. and The Sherwin-Williams Company (sorted alphabetically).

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