North America Paints and Coatings market report gives comprehensive outlook on Paints and Coatings across the globe with special emphasis on key regions such as North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. The report on North America Paints and Coatings market gives historical, current, and future market sizes (US$ Mn) on the basis of component, formulation, resin type, application, and region. The report includes the total revenue and volume for the market. This report studies North America Paints and Coatings market dynamics elaborately to identify the current trends & drivers, future opportunities and possible challenges to the key stakeholders operating in the market.
North America Paints and Coatings market report includes human demographics; regulatory scenario, and competition analysis with vividly illustrated the competition dashboard to assess the market competition. Moreover, PBI analyzed North America Paints and Coatings market to better equip clients with possible investment opportunities across the regions (regional Investment Hot-Spots) and market unmet needs (Product Opportunities). Key stakeholders of the North America Paints and Coatings market report include suppliers, manufacturers, marketers, policy makers, and healthcare service providers engaged in North America Paints and Coatings products.
North America Paints and Coatings Market:
The North America Paints and Coatings market estimated to be valued US$ XX Mn in 2018 and poised to grow at significant CAGR over 2019-2025. The key factors that are responsible for the market growth include increasing beverage can production in the region, increasing commercial construction activities in the United States and increase in the demand for bio-based & eco-friendly paints & coatings.
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.
High Cost and Strict Government Regulations
Increasing energy costs is anticipated for the coming years which will lead to increase of feedstock prices, which will openly affect the price of all synthetic resins used in coating applications. Furthermore, the strict rules to decrease the carbon footprint and VOC emissions will effect the market growth of paints and coatings as the manufacturers will have to invest in innovative technology to meet the conditions set by the regulatory bodies.
U.S. Accounts for Larger Market Revenue Share in North America Paints and Coatings Market
U.S. accounted for larger revenue share in North America Paints and Coatings market with considerable CAGR. The growth is due to the rise in residential houses sales, together with renovation of the existing houses, which is likely to boost the demand for residential construction. Moreover, 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.
- AkzoNobel N.V. (Netherlands)
- Axalta Coating Systems LLC (United States)
- BASF S.E. (Germany)
- Jotun Group (Norway)
- Kansai Paint Co. Ltd. (Japan)
- Nippon Paint Holdings Co. Ltd. (Japan)
- PPG Industries (United States)
- RPM International Inc. (United States)
- Sherwin-Williams (United States)
North America Paints and Coatings market is surging owing to frequent acquisitions and launchings by the market players. For Instance, June 2017: Sherwin Williams acquired Valspar, a North America leader in paints & coatings industry.
Key Findings of the Report:
- North America Paints and Coatings market expanding at significant CAGR over 2019 to 2025 owing increasing beverage can production in the region.
- Based on Resin, Acrylic segment accounted for larger market revenue share in 2018 and projected gain market revenue share over the forecast period
- Players focusing on innovation of newer products and collaboration strategies to retain market position in North America Paints And Coatings market
Key Features of the Report:
- The report provides granular level information about the market size, regional market share, historic market (2014-2018) and forecast (2019-2025)
- The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
- The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
- The report tracks recent innovations, key developments and startup’s details that are actively working in the market
- The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario
- The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market
- Water Borne
- Solvent Borne
- Powder Based
- High Solids
- Other Formulations
- One Component
- Two Component
- Other Components
By Resin Type
- Other Resins
- General Industrial
- Automotive OEM
- Automotive Refinish
- Wood Coating
- Marine Coating
- Coil Coating
- Packaging Coating
- Aerospace Coatings