North American paints and coatings market is driven by the increase of construction activities in this region after the recovery from the global economic crisis. The U.S. accounts for XX.XX% of the regions market size in 2015 followed by Canada and Mexico with XX% and XX% shares respectively.
The global economic crisis witnessed a substantial fall in the number of new commercial and residential construction projects, and there was also a large number of project terminations and rescheduling. The Canadian market recovered partially in 2010, while the number of the U.S. housing project start-ups recovered in 2011. The increased construction activity rate is anticipated to raise the demand for paints and coatings in North America. The North American paints and coatings markets growth has also been bolstered by the regions government stimulus packages, rising employment rates, and improvements in consumer confidence. The water-based paints and coatings account for the largest share of the paints and coatings market size in North America in 2015, with a value of USD XX.XX billion and a market share of XX.XX%. Meanwhile, solvent-based paints and coatings recorded a market size of over USD 3.3 billion in the region.
The North American paints and coatings market has been segmented on the basis of product type into acrylic, alkyd, polyurethane, epoxy, polyesters, and others. On the basis of application, the market has been segmented into industrial applications (automotive sector, marine paints, consumer durables, other OEMs, and industrial wood coatings) and decorative applications (interior and exterior wall paints, wood finishes, enamel, putty, and others). On the basis of geography, the market has further been segmented into the United States, Canada, and Mexico.
Pertaining to an extensive number of research and development activities prevailing in the North America paints and coatings market as with the emerging of green buildings and nano coatings, the world is becoming a healthier and safer place to live in. Research is being done to reduce the environmental impact of marine coatings during a ship life cycle.
There is a development of near-infrared (NIR) coatings and tiles to reduce heating of dark-colored surfaces on roofs and facades. The sun-reflective building materials help achieve a reduction of cooling loads and improve thermal comfort. They are often seen in roofing but there are also tentative applications for facades.
Market Dynamics of the North American Paints and Coatings Market:
High demand from aviation and marine industries in the USA
Focus on better performance and aesthetics
Growth of automobile industry in Mexico
New developments in coating processes
Growing environmental awareness and green mobility
Volatile raw material prices
Environmental impact and regulations
The market for coatings and paints includes liquid- and powder-based paints, varnishes, and related products used in architectural and decorative, industrial, and specialty product segments. Interior and exterior paints, primers, sealers and varnishes are part of the architectural and decorative segment, which are used in homes and buildings. Products that are a part of the production process form part of the industrial products segment. Aerosol paints, marine paints, high-performance maintenance coatings, and automotive refinish paints form the specialty products segment.
Rising practice of green buildings and products, such as nano-coatings, green coatings, offer a lot of opportunities for the growth of the North American paints and coatings market. However, stringent regulations of environmental protection due to which there are a fewer number of approved chemicals present in the market resist the growth of this market. The major players present in this market are:
Market analysis for the North America paints and coatings market, with region specific assessments and competition analysis.
Market definition along with the identification of key drivers and restraints.
Identification of factors instrumental in changing the market scenarios, rising prospective opportunities, and identification of key companies that can influence this market on a regional scale.
Extensively researched competitive landscape section with profiles of major companies along with their market share.
Identification and analysis of the macro and micro factors that affect the North America paints and coatings market on a regional scale.
A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.
A wide-ranging knowledge and insights about the major players in this industry and the key strategies adopted by them to sustain and grow in the studied market.
Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped.
1.2 Research Methodology
1.3 Report Outline
2. Executive Summary
3. Market Overview
3.1 Current Market Scenario
3.2 Market Drivers
3.2.1 High Demand from Aviation and Marine Industries in USA
3.2.2 Focus on Better Performance and Aesthetics
3.2.3 Growth of Automobile Industry in Mexico
3.2.4 New Developments in Coating Processes
3.2.5 Growing Environmental Awareness and Green Mobility
3.3 Market Restraints
3.3.1 Volatile Raw Material Prices
3.3.2 Environmental Impact and Regulations
3.4 Market Opportunities
3.4.1 Developing Eco-Friendly Alternatives
3.5 Porters Five Forces
3.5.1 Bargaining Power of Suppliers
3.5.2 Bargaining Power of Consumers
3.5.3 Threat of New Entrants
3.5.4 Threat of Substitute Products and Services
3.5.5 Degree of Competition
3.6 Industry Value Chain Analysis
4. Market Segmentation and Analysis
4.1 By Product Type
4.2 By Applications
4.2.1 Industrial Applications
18.104.22.168 Consumer Durables
22.214.171.124 Other Industrial
4.2.2 Decorative Applications
126.96.36.199 Interior and Exterior Wall Paints
188.8.131.52 Wood Finishes
184.108.40.206 Enamel, putty and other applications
4.3 By Technology
4.3.1 Solvent based
4.3.2 Water based
5 Regional Analysis (Market size, growth and forecast)
5.1 United States
5.4 Rest of North America
6. Policies and Regulations
7. Competitor Analysis
7.1 Market Shares of Leading Players
7.2 Strategies Adopted by Leading Players
7.3 Future of Paint Market
8. Company Profiles
8.8 PPG Group
8.10 H.B. Fuller
8.11 Axalta Coatings System
8.12 Benjamin Moore
8.14 Lord Corp.
8.15 RPM International Inc.