US coatings market to grow 3.1% through 2012

25 August 2008 23:28  [Source: ICIS news]

HOUSTON (ICIS news)--US paints and coatings demand will expand at an annual rate of 3.1% to $23bn (€16bn) in 2012, driven by rebounding residential construction and automotive production, an industry research firm said on Monday.

Traditional solvent-based coatings will continue to lose market share to water-based, high solids and powder coatings, according to a new study produced by the Cleveland-based Freedonia Group.

In the dominant architectural coatings segment, interior paint demand is expected to grow faster than exterior paint because of the popularity of plastic siding materials that do not require paint.

In the manufacturing segment, Freedonia said prefabricated metal building systems would be one of the fastest-growing markets for coatings.

Demand for maintenance and specialty coatings, which accounts for one-fifth of the US coatings market, was expected to benefit from higher growth in bridge and highway maintenance expenditures.

($1 = €0.68)

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