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According to a study by consulting firm Kusumgar, Nerlfi & Growney, ‘The US Paint & Coatings Industry, 2011-2016’, in 2011 consumption of coatings is projected to be 1.4Mgals, containing 7.8bn lbs of solids, worth US$23bn.
The industry saw its peak consumption in 2006 and has only partially recovered from the lows of the 2008-2009 recession. In 2011 coating solids remained down 18% from the 2006 peak. A 1.5%/yr increase is forecast for coating solids through 2016.
Coating consumption in US$ is only 3% lower compared to 2006 because of the sharp rise in prices during 2010-2011. Coating raw material price escalation has only partially been passed along by the coating producer.
Architectural coatings are the largest segment with some 3.9bn lbs of solids worth US$9.1bn expected to be consumed in 2011. House building remains at extremely depressed levels and home sales have yet to recover to hoped for levels. Coating demand from original equipment manufacturers (OEM) in 2011 is projected at 1.98bn lbs of solids valued at nearly US$8bn. OEM coatings have rebounded strongly since the recession but many end uses are still down significantly from 2006.
Special purpose coating consumption in 2011 is expected to be 1.95bn lbs of solids with a sales value of US$6bn. Roofing, industrial maintenance and traffic paint are the large volume outlets.