NEW YORK, NY--(Marketwire - Aug 30, 2012) - The U.S. market for paints & coatings will see full recovery by the end of 2012, after falling into the economic slump from 2008, before seeing steady growth through the next ten years. According to "Paints and Coatings, U.S. Market - 2nd Edition," a recent report by heavy industry publisher SBI, water-based paints and coatings will experience significant growth and lead the market.
The market for paints and coatings has been historically dominated by roughly 50 players, led by Sherwin Williams, and are dominantly used in architecture. According to the report, growth in the construction and remodeling industries will yield increases in the market for paints & coatings as well.
"Architecture produced roughly 736.4 million gallons of paints in 2011," said Shelley Carr, publisher of SBI. "Increases in the U.S. population will see the construction of more housing."
Currently, environmentally friendly paints are the driving trend in consumer attitudes and regulations, which has paved the way to an increased market for economically feasible water-based paints. This is spurred by use in architecture and the automotive industry, which is looking for more-efficient paints & coatings that require fewer solvents and coats, as well as less energy in application.
"The shift towards water-based paints is an easy plus for companies looking to move towards green initiatives," adds Carr. "There are a handful of new technologies, as well, that reflect sunlight to keep buildings cooler, contain less solvents and are asthma/allergy friendly."
"Paints and Coatings, U.S. Market - 2nd Edition" contains comprehensive historical data (2007-2011) and forecast data (2012-2021) for the paints and coatings market, including the industry's sub-segments divided by application and type. It also tracks the overall shift in the market away from solvent-based paints and towards more environmentally friendly water-based paints. It also profiles major market players, including Benjamin Moore & Co, Aremeco Products, Inc., BASF SE, Kelly-Moore Paint Company, Inc., Nippon Paint Co., Ltd and many more.
About SBI Energy
SBI Energy, a division of MarketResearch.com, publishes research reports in the industrial, energy, building/construction, and automotive/transportation markets. SBI Energy also offers a full range of custom research services. To learn more, visit www.sbireports.com.