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North America Paints and Coatings Market Size, Analysis: By Resin Type: Epoxy, Acrylics, Alkyd, Polyurethane, Polyester, Others; By Technology: Water-Borne, Solvent-Borne, Powder Coating, UV-Cured Coating; By End Use: Automotive, Protective Coatings, Transportation, Others; Regional Analysis; Competitive Landscape; 2024-2032
North America Paints and Coatings Market Outlook
The North America paints and coatings market size attained a value of USD 42.43 billion in 2023. The market is expected to grow at a CAGR of 3.6% between 2024 and 2032, reaching almost USD 58.34 billion by 2032.
Key Takeaways:
- According to the Alliance for Automotive Innovation, the auto manufacturing sector injects over USD 1 trillion into the economy that drives the North America paints and coatings market.
- As per Statistics Canada, both residential and non-residential building construction rose by 0.3%. thus, pushing North America paints and coatings market growth.
- The Office for Coastal Management revealed a 7.4% GDP increase and a 10.5% sales surge in the marine economy in 2021.
Paints are primarily used for their aesthetic appeal, whereas coatings are mainly employed to protect surfaces from deterioration or corrosion. Both paints and coatings are commonly applied to prevent surfaces from oxidizing and being exposed to sunlight. Coatings are extensively utilised across various industries including automotive, transportation, construction, and wood industries, with a particular emphasis in construction for shielding buildings from external damage.
Additionally, paints and coatings play a vital role in various applications such as enhancing the appearance of residential and non-residential building structures, industrial equipment, industrial wood, automotive, marine, and more, aiding the North America paints and coatings market development. These materials possess structural properties such as adhesion, waterproofing, and corrosion resistance, which are applied to surfaces to prevent corrosion, rusting, and erosion, thus averting soil spoilage.
As per Statistics Canada, the construction of residential and non-residential buildings saw a 0.3% growth in December 2023 compared to November 2023. This uptick in construction activity contributes to the rising demand for the paints and coatings market in North America.
INVESTMENT IN BUILDING CONSTRUCTION, DECEMBER 2023, $ BILLION
Key Trends and Developments
The North America paints and coatings market development is driven by expanding architectural industry, organic paints and coatings, automotive and marine industries.
| Date | Event |
| February 2024 | Nova Scotia's Pure Paint Technologies created eco-friendly plant-based paint, distinguishing itself in North America with durability, coverage, and environmental consciousness. |
| January 2024 | CoolWorx, a coating product developed by Nu-Calgon and enhanced with GMG Graphene technology, was launched. |
| October 2023 | The Protech Group acquired MF Paints Inc., thereby expanding its presence in the Canadian market. |
| September 2023 | US university scientists created a silicon-based coating to halt fire spread by averting materials from contacting flames, offering fire protection. |
| Trends | Impact |
| Growing demand from architectural sector | Protection and aesthetic improvement for buildings, safeguard against harsh weather and UV exposure, tailored for specific purposes like roof coatings and wall paints |
| Use of organic paints and coatings | Block-resistant organic paints and coatings without VOCs, made from natural ingredients, eco-friendly coatings reducing harmful effects of infrared and UV radiation |
| Increasing demand from automotive industry | Colour retention, abrasion resistance, flexibility, and protective properties, annual injection of over USD 1 trillion into the US economy by auto manufacturing |
| Growing use in marine sector | Shield against saltwater corrosion and marine organism growth, prolong lifespan, diminish maintenance frequency, yield cost savings through rust prevention and decay mitigation |
North America Paints and Coatings Market Trends
As per the North America paints and coatings market report, strict environmental regulations in the sector drive the preference for water-based paints over solvent-based ones. Poorly ventilated work environments expose workers to hazardous vapours from solvent-based products, leading many projects, such as those involving fuel storage and railroad tanks, to opt for water-based coatings.
Additionally, water-based coatings help reduce the concentration of flammable substances. State and local governments often impose regulations limiting the amount of volatile organic compounds (VOCs) businesses can emit.
Market Segmentation
North America Paints and Coatings Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:
| Market Breakup | Categories |
| Resin Type | Epoxy, Acrylics, Alkyd, Polyurethane, Polyester, Others |
| Technology | Water-Borne, Solvent-Borne, Powder Coating, UV-Cured Coating |
| End Use | Automotive, Protective Coatings, Transportation, Architectural, Packaging, Others |
| Country | United States of America, Canada |
Acrylic resin dominates the North America paints and coatings market share owing to its outstanding color retention, durability, and resilience against weathering
Acrylic is water-based coatings that are adaptable, and suitable for architectural, automotive, and industrial uses, with fast drying and low environmental impact, favoured in diverse sectors.
Alkyd coatings are valued for strong adhesion and durability, commonly used in industrial and architectural sectors. Additionally, polyurethane coatings, known for superior finish and resistance, are widely applied in the automotive, wood, and aerospace industries.
Waterborne coatings, based on technology, pushing the North America paints and coatings market growth, primarily due to their reduced environmental footprint, emitting fewer volatile organic compounds (VOCs) than solvent-based alternatives
Water-based coatings, using water as a solvent, are eco-friendly and easy to clean. Their adaptability and safety make them popular in automotive and architectural applications, with continuous advancements improving durability and drying rates.
As per the North America paints and coatings market report, solvent-based coatings excel in adhesion, resilience, and aesthetics and are considered ideal for industrial and demanding environments. Additionally, powder coatings are eco-friendly and waste-efficient and are gaining momentum for their cost-effectiveness and superior quality, favored in appliances, automotive parts, and furniture applications.
Based on end use, paints and coatings market in North America is being supplemented by rising demands within the residential and commercial construction sectors
The architectural sector comprises various products for interior and exterior uses, such as wall paints and wood finishes, driven by global construction, urbanisation, and increased aesthetic and protective needs.
The automotive, transportation, and protective coatings sector encompasses specialised coatings sought for their superior durability, corrosion resistance, and ability to withstand extreme conditions. Technological progress drives the segment's expansion toward more efficient, eco-friendly coatings, thereby propelling the North America paints and coatings market growth.
Competitive Landscape
The increasing competitiveness in the market can be characterised by the introduction of various types of paints and increasing number of mergers and acquisitions.
| Company | Year Founded | Headquarters | Divisions/Products |
| BASF SE | 1865 | Ludwigshafen, Germany | Chemicals, materials, industrial solutions, surface technologies, nutrition and care, agricultural solutions |
| PPG Industries, Inc. | 1883 | Pittsburgh, United States | Paints, coatings, optical products, speciality materials, chemicals, glass, fibreglass |
| Sherwin-Williams Co. | 1866 | Ohio, United States | Paints, coatings, floor coverings, and associated products |
| Nippon Paint Holdings Co. Ltd. | 1881 | Osaka, Japan | Paints for automobiles, ships, and industrial applications, fine chemicals, finishing agents, adhesives |
Other North America paints and coatings market key players are Benjamin Moore & Co., RPM International Inc., 3M Co., Akzo Nobel N.V., Masco Corporation, and Cloverdale Paint Inc., among others.
North America Paints and Coatings Market Analysis by Country
The United States is leading the way as the demand flourishes in the automotive, construction, and industrial fields. Green coatings are propelled by regulations and consumer consciousness, nurturing a competitive environment with continuous R&D investments. As reported by the Office for Coastal Management, the marine economy experienced a 7.4 per cent rise in its GDP contribution and a 10.5 per cent surge in sales in 2021, thus, driving the North American paints and coatings market.
ANNUAL GROSS DOMESTIC PRODUCT (VALUE ADDED) FOR MARINE SECTORS, IN USD BILLION
Canada's construction, automotive, and other sectors are also thriving, accompanied by an increasing demand for sustainable and environmentally friendly paints. This trend bolsters the demand for the paints and coatings market.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Resin Type |
|
| Breakup by Technology |
|
| Breakup by End Use |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Competitive Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 Global Paints and Coatings Market Overview
8.1 Key Industry Highlights
8.2 Global Paints and Coatings Historical Market (2018-2023)
8.3 Global Paints and Coatings Market Forecast (2024-2032)
8.4 Global Paints and Coatings Market Share by Region
8.4.1 North America
8.4.2 Europe
8.4.3 Asia Pacific
8.4.4 Latin America
8.4.5 Middle East and Africa
9 North America Paints and Coatings Market Overview
9.1 Key Industry Highlights
9.2 North America Paints and Coatings Historical Market (2018-2023)
9.3 North America Paints and Coatings Market Forecast (2024-2032)
10 North America Paints and Coatings Market by Resin Type
10.1 Epoxy
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Acrylics
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 Alkyd
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Polyurethane
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Polyester
10.5.1 Historical Trend (2018-2023)
10.5.2 Forecast Trend (2024-2032)
10.6 Others
11 North America Paints and Coatings Market by Technology
11.1 Water-Borne
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Solvent-Borne
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 Powder Coating
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 UV-Cured Coating
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
12 North America Paints and Coatings Market by End Use
12.1 Automotive
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Protective Coatings
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Transportation
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Architectural
12.4.1 Historical Trend (2018-2023)
12.4.2 Forecast Trend (2024-2032)
12.5 Packaging
12.5.1 Historical Trend (2018-2023)
12.5.2 Forecast Trend (2024-2032)
12.6 Others
13 North America Paints and Coatings Market by Country
13.1 United States of America
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 Canada
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators of Demand
14.4 Key Indicators of Price
15 Trade Data Analysis (HS Code 3208, 3210)
15.1 Major Exporting Countries
15.1.1 By Value
15.1.2 By Volume
15.2 Major Exporting Countries
15.2.1 By Value
15.2.2 By Volume
16 Competitive Landscape
16.1 Market Structure
16.2 Company Profiles
16.2.1 BASF SE
16.2.1.1 Company Overview
16.2.1.2 Product Portfolio
16.2.1.3 Demographic Reach and Achievements
16.2.1.4 Certifications
16.2.2 PPG Industries, Inc.
16.2.2.1 Company Overview
16.2.2.2 Product Portfolio
16.2.2.3 Demographic Reach and Achievements
16.2.2.4 Certifications
16.2.3 Sherwin-Williams Co.
16.2.3.1 Company Overview
16.2.3.2 Product Portfolio
16.2.3.3 Demographic Reach and Achievements
16.2.3.4 Certifications
16.2.4 Nippon Paint Holdings Co. Ltd. (Dunn-Edwards Corporation)
16.2.4.1 Company Overview
16.2.4.2 Product Portfolio
16.2.4.3 Demographic Reach and Achievements
16.2.4.4 Certifications
16.2.5 Benjamin Moore & Co.
16.2.5.1 Company Overview
16.2.5.2 Product Portfolio
16.2.5.3 Demographic Reach and Achievements
16.2.5.4 Certifications
16.2.6 RPM International Inc.
16.2.6.1 Company Overview
16.2.6.2 Product Portfolio
16.2.6.3 Demographic Reach and Achievements
16.2.6.4 Certifications
16.2.7 3M Co.
16.2.7.1 Company Overview
16.2.7.2 Product Portfolio
16.2.7.3 Demographic Reach and Achievements
16.2.7.4 Certifications
16.2.8 Akzo Nobel N.V.
16.2.8.1 Company Overview
16.2.8.2 Product Portfolio
16.2.8.3 Demographic Reach and Achievements
16.2.8.4 Certifications
16.2.9 Masco Corporation
16.2.9.1 Company Overview
16.2.9.2 Product Portfolio
16.2.9.3 Demographic Reach and Achievements
16.2.9.4 Certifications
16.2.10 Cloverdale Paint Inc.
16.2.10.1 Company Overview
16.2.10.2 Product Portfolio
16.2.10.3 Demographic Reach and Achievements
16.2.10.4 Certifications
16.2.11 Others
17 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Paints and Coatings Market: Key Industry Highlights, 2018 and 2032
2. North America Paints and Coatings Market: Key Industry Highlights, 2018 and 2032
3. North America Paints and Coatings Historical Market: Breakup by Resin Type (USD Billion), 2018-2023
4. North America Paints and Coatings Market Forecast: Breakup by Resin Type (USD Billion), 2024-2032
5. North America Paints and Coatings Historical Market: Breakup by Technology (USD Billion), 2018-2023
6. North America Paints and Coatings Market Forecast: Breakup by Technology (USD Billion), 2024-2032
7. North America Paints and Coatings Historical Market: Breakup by End Use (USD Billion), 2018-2023
8. North America Paints and Coatings Market Forecast: Breakup by End Use (USD Billion), 2024-2032
9. North America Paints and Coatings Historical Market: Breakup by Country (USD Billion), 2018-2023
10. North America Paints and Coatings Market Forecast: Breakup by Country (USD Billion), 2024-2032
11. North America Paints and Coatings Market Structure
Key Questions Answered in the Report
In 2023, the paints and coatings market in North America attained a value of nearly USD 42.43 billion.
The market is projected to grow at a CAGR of 3.6% between 2024 and 2032.
The North America paints and coatings market is expected to reach USD 58.34 billion in 2032.
The paints and coatings market is growing with expanding demand from architectural industry, use of organic paints and coatings, along with growing use from automotive and marine sectors.
Based on the type of resin, the market includes epoxy, acrylics, alkyd, polyurethane, polyester, and various other types.
Key players in the market are BASF SE, PPG Industries, Inc., Sherwin-Williams Co., Nippon Paint Holdings Co. Ltd (Dunn-Edwards Corporation), Benjamin Moore & Co., RPM International Inc., 3M Co., Akzo Nobel N.V., Masco Corporation, and Cloverdale Paint Inc., among others.
Based on technology, the paints and coatings market is divided into water-borne, solvent-borne, powder coating, and UV-cured coating.
The major regions include the United States of America and Canada.
Based on the end use, the paints and coatings market is divided into automotive, protective coatings, transportation, architectural, packaging and others.
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