Paint Manufacturing in Canada - Industry Market Research Report

High gloss: Broader economic slowdown is expected to aid the industry's steady decline

Paint manufacturers produce a variety of paints and industrial coating products that are primarily sold to downstream manufacturing and construction markets. The industry is mature, with clearly defined product lines that satisfy well-established consumer and industrial markets. Paint production has exhibited a steady decline over the past five years, reflecting broader trends in manufacturing across Canada. During COVID-19, strong demand from the home construction and renovation market slowed declining sales. Revenue has dropped at a CAGR of 1.1% to $2.7 billion over the five years to 2023, with declining 0.2% in 2023 alone.

Operators in the Paint Manufacturing industry in Canada produce 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, stains, wood fillers, paint thinners and removers. This industry does not manufacture artist’s paint.

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's key players and their market shares.