Paint Manufacturing in the US - Industry Market Research Report

Paint Manufacturing in the US - Industry Market Research Report

Paint Manufacturing in the US

The Paint Manufacturing industry provides protective and decorative finishes for a variety of downstream markets. Industry operators supply the Construction sector (IBISWorld report 23) with coatings for houses and commercial buildings; the industry also supplies the Manufacturing sector (31-33) with paint for products such as cars, boats and consumer goods. Over the five years to 2023, paint manufacturers have experienced challenges from volatility in crude oil prices and a decline in nonresidential construction. But increasing private spending on home improvements and housing starts have significantly bolstered demand. Industry revenue is set to decrease, falling at a CAGR of 0.9% to $31.4 billion over the five years to 2023, including a decrease of 2.9% in 2023 alone as rising interest rates cause demand from construction to fall

The Paint Manufacturing industry manufactures various paints, timber finishes and other surface coating products to decorate and protect surfaces against wear, weather and corrosion. Key products include paints, varnishes, lacquers and stains, as well as fillers, putties and paint thinners and removers. This industry does not manufacture artists’ paint (see IBISWorld report 33994, Art and Office Supply Manufacturing industry).

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares."