North America Paints and Coatings Market - Growth, Trends, and Forecast (2019 - 2024)

The market is segmented by Resin (Acrylics, Epoxy, Alkyd, Polyester, Polyurethane, and Other Resins), End-user Industry (Architectural, Automotive, Wood, Protective Coating, General Industrial, Transportation, and Packaging), Technology (Water-borne, Solvent-borne, Powder Coating, and UV-cured Coating), and Geography.

Market Snapshot

Market summary - NA paints & coatings
Study Period:


Base Year:


Key Players:

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Market Overview

The North American paints and coatings market is expected to register moderate growth, at an estimated CAGRs of 4.16%, over the forecast period of 2019-2024. The major factors driving the market studied are the increasing commercial construction activities in the United States, and the increasing beverage can production in the region.

  • In 2018, in terms of revenue, the architectural segment dominated the regional market. The architecture segment is expected to witness the highest CAGR of 5.08% in revenue, during the forecast period.
  • In 2018, in terms of volume, the water-borne segment dominated the regional market ,and is expected to witness the highest CAGR of 3.38%, during the forecast period.

Scope of the Report

The North American paints and coatings market report includes:

Other Resins
End-user Industry
Protective Coating
Oil and Gas
Electrical and Electronics
General Industrial
United States
Rest of North America

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Key Market Trends

Increasing Demand from the Automotive Industry

  • In the automotive sector, paints and coatings are used in interior and exterior parts of the vehicle, to add a pleasant appeal to them. They are also used in metallic parts,  and in plastic vehicle components of both interior and exterior types.
  • Automotive coatings are used as protection against sunlight, material corrosiveness, and environmental effects, such as acid rain, hot-cold shocks, stone chips, UV radiation, car washing, and blowing sand, among others.
  • Over a period of time, various companies have come up with different and new variants in coatings, such as heat and anti-reflective coating, electro-chromatic and smart coatings for windows, self-cleaning top coats, UV curable, powder coating system, iridescent and color changing base coat, and abrasion-resistant coatings for headlamps, among others.
  • Surface treatment chemical, cathodic electrodeposition (CED), surfacer, top coats, and bumper paints, among others are also developing eco-friendly products. All these coatings and paints provide different and eco-friendly benefits.
  • The United States is one of the largest markets in the world, and home to many global vehicle and auto part manufacturers. The production of light vehicles in the United States reached almost 12 million passenger vehicles in 2016, and the light vehicle sales reached 17.5 million units. Furthermore, the demand for light vehicles is expected to increase.
  • Therefore, the increasing demand for light vehicles in the United States and increasing automotive production in Mexico are expected to drive the North America npaints and coatings market.
segmentation - NA paints & coatings

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United States to Dominate the Market

  • The United States is the second-largest producer of paints and coatings globally, after China. Growing infrastructure in the United States, which is one of the major consumers of architectural coatings, is driving the market.
  • Architectural coatings, industrial coatings, and special-purpose coatings are the three coating types, which have the highest share in the market. Recovery of the wooden flooring industr, in 2016, was another boosting factor for the US wood coatings market.
  • The gradual growth of the commercial sector, primarily office space construction, is likely to have a positive impact on the market. The office space market in the country is estimated to grow by almost 10%, in the next few years. Additionally, rise in home sales, coupled with the renovation of existing houses, is boosting the demand for residential construction in the United States.
  • All the aforementioned factors, in turn, are expected to increase the demand for paints and coatings in the country, during the forecast period.
regional - NA paints & coatings

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Competitive Landscape

The North American paints and coatings market is highly consolidated, with top five players accounting for around 80% of the total market. Top players, such as Sherwin Williams and PPG, are using mergers and acquisitions as a strategy to continue their dominance in the market

Major Players

  1. The Sherwin-Williams
  2. PPG Group Inc.
  3. AkzoNobel
  4. Masco

* Complete list of players covered available in the table of contents below

Market concentration - NA paints & coatings

Table of Contents


    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study




    1. 4.1 Drivers

      1. 4.1.1 Increasing Beverage Can Production in the Region

      2. 4.1.2 Increasing Commercial Construction Activities in the United States

    2. 4.2 Restraints

      1. 4.2.1 Increasing Raw Material Prices

    3. 4.3 Industry Value Chain Analysis

    4. 4.4 Porters Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Consumers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition


    1. 5.1 Resin

      1. 5.1.1 Acrylics

      2. 5.1.2 Epoxy

      3. 5.1.3 Alkyd

      4. 5.1.4 Polyester

      5. 5.1.5 Polyurethane

      6. 5.1.6 Other Resins

    2. 5.2 End-user Industry

      1. 5.2.1 Architectural

      2. 5.2.2 Automotive

      3. 5.2.3 Wood

      4. 5.2.4 Protective Coating

        1. Oil and Gas

        2. Power

        3. Electrical and Electronics

        4. Infrastructure

        5. Others

      5. 5.2.5 General Industrial

      6. 5.2.6 Transportation

        1. Aerospace

        2. Rail

        3. Marine

      7. 5.2.7 Packaging

    3. 5.3 Geography

      1. 5.3.1 United States

      2. 5.3.2 Canada

      3. 5.3.3 Mexico

      4. 5.3.4 Rest of North America


    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share Analysis**

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 3M

      2. 6.4.2 AkzoNobel

      3. 6.4.3 Axalta Coatings System

      4. 6.4.4 BASF

      5. 6.4.5 Beckers

      6. 6.4.6 Benjamin Moore

      7. 6.4.7 Cloverdale Paint Inc.

      8. 6.4.8 Diamond-Vogel

      9. 6.4.9 Dunn-Edwards Corporation

      10. 6.4.10 Hempel

      11. 6.4.11 Kelly-Moore Paints

      12. 6.4.12 Lord Corp.

      13. 6.4.13 Masco

      14. 6.4.14 PPG Group Inc.

      15. 6.4.15 RPM International Inc.

      16. 6.4.16 The Sherwin-Williams

      17. 6.4.17 Sika AG

      18. 6.4.18 Wacker Chemie AG

    5. *List Not Exhaustive

    1. 7.1 Use of Nano Technology in Paints and Coatings

    2. 7.2 Increase in the Demand for Bio-based and Eco-friendly Paints and Coatings

**Subject to Availability

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