North America Paints & Coatings Market | Growth, Trends and Forecast (2018-2023)
North America Paints & Coatings Market - Segmented by Resin Type, End-user Industry, Technology, and Geography - Growth, Trends, and Forecast (2018 - 2023)


NOV 2018

North America Paints & Coatings Market - Segmented by Resin Type, End-user Industry, Technology, and Geography - Growth, Trends, and Forecast (2018 - 2023)

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North America paints & coatings market is expected to reach 10,749.44 kilo metric ton by volume, and USD 32.95 billion by revenue, in 2018. It is estimated to reach 12,455.35 kilo metric ton by volume, and USD 40.39 billion by revenue, by 2023, at estimated CAGRs of 2.99% and 4.16%, respectively, over the forecast period of 2018-2023.

Increasing Beverage Can Production in the Region

Coatings are used in beverage cans to provide design, aesthetic appeal, quality, reliability, sustainability and most importantly, protection to the products. Therefore increasing can production drives the paints and coatings market. In recent times, there has been an increase in the demand for beverage cans in North America, especially aluminum cans, as they have a high recycling rate and more recyclable content. The United States government is planning to remove tariffs or trade restrictions on aluminum products which would increase the production of beverage cans in the country, thereby driving the paints and coatings market. The Can Manufacturers Institute (CMI), the national trade association of the metal can be manufacturing industry and its suppliers in the United States, has requested the United States Commerce Department that aluminum can sheet and aluminum ingot, which is used to make beverage cans, must be made free of tariffs or trade restrictions. In the United States, there has been an increasing demand for specialty beverage cans. Specialty cans, of sizes other than standard diameter of 12 oz have become a popular format for a variety of products which include soft drinks, beer, ready-to-drink teas, coffee, sparkling waters, wine and spirits, juices and other functional beverages. Crown Holdings, which is the leading supplier of metal packaging products worldwide, has opened its new beverage can manufacturing plant in Nichols, New York. In Canada, the number of brewing facilities has increased which in turn is increasing the production, thereby driving the paints and coatings demand for alcoholic beverages cans.

Water-borne Technology - The Fastest Growing Type by Technology

Water-borne paints and coatings hold the major share in the overall paints and coatings market. The major reason for its gain over solvent-borne is because of its environment-friendly nature, as it is generally lower in volatile organic compounds (VOC’s), which degrade the environment. Also, other properties, like low odor, more durability, and block resistance make water-borne paints more preferable. The increasing environment-friendly nature and the versatile properties of water-borne coatings is increasing the demand for water-borne coatings across North America. Water-borne coatings are majorly required in automotive paints. Hence, with the increase in automotive sales because of high demand for light vehicles in the United States, the market for water-borne coatings shall also benefit. Companies are showing active interest in expanding their production capacities in North America. BASF has invested USD 40 million in automotive coatings in North America in response to increasing waterborne basecoat capacity in Tultitlan, Mexico which enabled the company to continue to drive innovation through the production of state-of-the-art automotive coatings. Additionally, water-borne coatings are mostly preferred in North America for interior and exterior doors, windows, and door frames. In recent times, there has been a propensity to seek coatings with low odor, usability, and water clean-up characteristics among the end users, water-borne coatings meet the requirements, and also facilitate low viscosity, without the addition of low-molecular-weight monomers.

United States to Lead the Market

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. The infrastructure industry in the United States grew at 5.94% in 2016. Architectural coatings, Industrial coatings, and Special-purpose coatings are the three coatings types, which have the highest share in the market. Recovery of the wooden flooring industry in 2016 is another boosting factor for 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, the rise in home sales, coupled with the renovation of the existing houses, is boosting the demand for residential construction in the United States. The United States is competing toward a complete transformation of its diesel buses into zero-emission buses. As of 2016, the United States had over 300 individual zero-emission buses operating in transit fleets throughout the nation. Electrical buses are fast gaining importance and their production is set to grow rapidly in the coming years. Shifting trend toward electric vehicles, due to the rise in environmental regulations, is the major factor influencing the coatings. Increase in solar capacity by more than 90% in the past two years is set to drive the growth of the renewable energy sector in the United States. The wooden flooring industry grew by more than 4% in the past year.

Notable Developments in the Market

  • June 2017: The Sherwin-Williams Company completed the acquisition of The Valspar Corporation and created a global leader in paints & coatings industry.
  • April 2017: PPG opened a new USD 3 million expansion unit for packaging coatings manufacturing at its Oak Creek, Wisconsin, plant.

Major Players: AkzoNobel, RPM International, MASCO, PPG, and The Sherwin Williams Company, among others.

North America Paints & Coatings Market Report Summary




North America Paints & Coatings Market

Study Period

(2016 – 2023)

Key Developments

The Sherwin-Williams Company completed the acquisition of The Valspar Corporation and created a global leader in paints & coatings industry.

Regions Covered

United States, Canada, Mexico

Companies Covered

3M, AkzoNobel, Axalta Coatings System, Beckers, Benjamin Moore, Cloverdale Paint Inc., etc.


Report Coverage

Report offers latest trends, growth prospects, industry competitiveness, country market analysis, major players, value chain, market sizing and forecast to 2023

Reasons to Purchase the Report

  • To understand the impact of end-user applications on the market
  • Analyzing various perspectives of the market with the help of Porter’s five forces analysis
  • To understand the dominating technology in the market
  • Countries expected to witness the fastest growth during the forecast period
  • Identify the latest developments, market shares, and strategies employed by the major market players
  • 3-month analyst support, along with the Market Estimate sheet (in excel)

Customization of the Report

  • This report can be customized to meet your requirements. Please connect with our representative, who will ensure you to get a report that suits your needs

1. Introduction

                1.1 Scope of the Report

                1.2 Study Assumptions

                1.3 Study Deliverables

                1.4 Research Phases

2. Executive Summary

3. Market Insights

                3.1 Industry Value Chain Analysis

                3.2 Industry Attractiveness – Porter’s Five Forces Analysis

                                3.2.1 Bargaining Power of Suppliers

                                3.2.2 Bargaining Power of Consumers

                                3.2.3 Threat of New Entrants

                                3.2.4 Threat of Substitute Products and Services

                                3.2.5 Degree of Competition

4. Market Dynamics

                4.1 Drivers

                                4.1.1 Increasing Beverage Can Production in the Region

                                4.1.2 Increasing Commercial Construction Activities in the United States

                4.2 Restraints

                                4.2.1 Increasing Raw Material Prices

                4.3 Opportunities

                                4.3.1 Use of Nano Technology in Paints & Coatings

                                4.3.2 Increase in the Demand for Bio-based & Eco-friendly Paints & Coatings

5. Market Segmentation and Analysis (Market Size, Share, and Forecast)

                5.1 By Resin Type

                                5.1.1 Acrylics

                                5.1.2 Epoxy

                                5.1.3 Alkyd

                                5.1.4 Polyester

                                5.1.5 Polyurethane

                                5.1.6 Others

                5.2 By End-user Industry

                                5.2.1 Architectural

                                5.2.2 Automotive

                                5.2.3 Wood

                                5.2.4 Protective Coating

                                       Oil & Gas


                                       Electrical and Electronics



                                5.2.5 General Industrial

                                5.2.6 Transportation




                                5.2.7 Packaging

                5.3 By Technology

                                5.3.1 Water-Borne

                                5.3.2 Solvent-Borne

                                5.3.3 Powder Coating

                                5.3.4 UV-cured Coating

6. Country Market Analysis (Market Size, Share, and Forecast)

                6.1 United States

                6.2 Canada

                6.3 Mexico

                6.4 Rest of North America

7. Competitive Landscape

                7.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements

                7.2 Market Share Analysis**

                7.3 Strategies Adopted by Leading Players

8. Company Profiles (Overview, Financials**, Products & Services, Recent Developments, and Analyst View)

                8.1 3M

                8.2 AkzoNobel

                8.3 Axalta Coatings System

                8.4 BASF

                8.5 Beckers

                8.6 Benjamin Moore

                8.7 Cloverdale Paint Inc.

                8.8 Diamond-Vogel

                8.9 Dunn-Edwards Corporation

                8.10 Hempel

                8.11 Kelly-Moore Paints

                8.12 Lord Corp.

                8.13 Masco

                8.14 PPG Group Inc.

                8.15 RPM International Inc.

                8.16 The Sherwin-Williams

                8.17 Sika AG

                8.18 Wacker Chemie  AG

9. Disclaimer

**Subject to availability on public domain

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