In 2018, the United States paint industry is expected to continue its long-term growth. What is the current market situation?
As the United States continues to recover from the collapse of the real estate market in 2007, it is expected that the paint and coatings market will continue to grow as the construction industry recovers. Both sales volume and sales will increase. Strong domestic demand and USD in OEM coatings The improvement of export opportunities brought about by the devaluation will boost the market's demand for US durable goods and industrial coatings.
According to the 9th edition of the ACA Industry Market Analysis Report (2014-2019), the market size of the US paint and coating industry is expected to reach 26.4 billion U.S. dollars in 2020, and the estimated compound annual growth rate in U.S. dollars will reach 3.2%. 2016 The construction industry accounts for 60% of the US paint industry's sales and 49% of sales. It is still the largest customer in the US paint industry. The report also predicts that the construction industry, especially the residential sector, will continue to push the United States. The composite annual growth rate of the coatings industry in 2015-2020 will reach 3.5% (sales) and 3.3% (sales). In contrast, the growth rate of sales and sales of OEM coatings is only 2.3% and 2.0%, special purpose topcoats only increased by 1.1% and 0.4%, respectively.
OEM Coatings: Continued Growth
Overall, the outlook for OEM coatings is also more optimistic. Traditionally, the most critical sector in the OEM coatings category is automotive manufacturing, which continues to strengthen. Since the end of the recession, consumers have been upgrading or replacing machines for air travel and global airlines. The team's demand is strong, and other end-use markets for aerospace and other manufacturing have been restored.
Improving operating efficiency is a key factor in driving OEM coating end users to use OEM coatings. OEM customers value the advantages that can improve the productivity of their painting operations, such as wet spraying, reducing labor and shorter cycle times, etc. OEM factories operate more than ever before. It must be streamlined at all times, which means that productivity and cost are important factors to consider. Paints that increase efficiency will gain an advantage in the market. These features include less coating, thinner coating, or faster Drying and curing, energy saving (eg, lower energy consumption for drying and curing) and versatility (eg, combination of aesthetics and antimicrobial properties, protection and fire protection, etc.).