Factors such as increased construction and reconstruction activities, dual-income homes, consumer trend toward aesthetics and increasing reliance on professional decorators offer growth prospects for the U.S. architectural coatings markets.
Frost & Sullivan Chemicals and Materials Practice finds that the U.S. Architectural Coatings markets earned revenues of $8.73 billion in 2005 and estimates this to reach $10.35 billion in 2012.
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“Increasing commercial construction and reconstruction activities are likely to fuel the growth of the architectural coatings market,” notes Frost & Sullivan Research Analyst Rajesh Varadarajan. “Remodeling and decoration projects of home makers in the residential market are seen as major factors that will boost the interior market for architectural coatings.”
Investments in the construction industry, growing at a rate of 2.0 percent over the past decade, expect to contribute to the architectural coatings market. More and more homemakers are remodeling and decorating with the help of professionals in order to increase the aesthetic appeal of their home interiors. An expanding base of aged population, relying on contractors to get their homes painted. The involvement of expert’s increases the budget for painting and also expands the variety of coatings used thus augmenting the sales of paints.
The reliance on professional assistance benefits the growth of the market and there is a rise in the amount of investment in this segment. This move is also aiding the market toward the creation of high quality products. Coating manufacturers are also developing durable paints that have a longer life span, but reduce coating consumption over a period of time.
“Coating manufacturers are increasingly facing price pressures due to rising crude oil prices, which have a bearing on the prices of raw materials and transportation costs associated with time-to-market expenses,” explains Varadarajan.
To contain the price pressure, coating companies are increasing their internal process efficiencies and are pushing higher-end products that offer higher margins to stay competitive in the market. Manufacturers should adopt a market- and consumer-focused approach developing the ability to quickly understand the changing dynamics of the market.
U.S. Architectural Coatings Markets is part of the Chemicals and Materials subscription and covers the interior architectural coatings market, exterior architectural coatings market and value chain analysis of the architectural coatings market. All research services included in subscriptions provide detailed market opportunities and industry trends. All research is evaluated following extensive interviews with market participants. Analyst interviews are available to the press.
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U.S. Architectural Coatings Markets