Extract
Paints and Coatings
SIC 2851NAICS 325510The global paint industry produces paints and coatings for architectural (known in Europe as decorative), marine, packaging, transportation equipment, and many additional end uses. Industry products also include varnishes, lacquers, enamels, and shellac, as well as chemical paint removers and brush cleaners. Makers of pigments alone are discussed in Chemicals, Industrial Inorganic and Chemicals, Industrial Organic based on the specific pigment's chemical composition.INDUSTRY SNAPSHOTThe paint industry has been a relatively small but rapidly growing segment of the broader chemical industry. Environmental pressures and regulations have been some of the biggest challenges faced by the industry. Skyrocketing prices of basic raw materials have also been a perennial concern, although by the late 1990s prices had stabilized somewhat. To counter increasing prices, paint manufacturers and suppliers worked together to formulate improved paints to justify price premiums. A simultaneous challenge for the industry was to incorporate the use of environmentally friendly materials and abide by the regulations and pressures on volatile organic compounds (VOCs) and hazardous air pollutants (HAPs). Coatings in general were moving away from being solvent-based toward being water-based as of the mid-2000s.Following the worldwide slump of manufacturing industries during the end of the 1990s and the beginning of the 2000s, the paints and coatings industry showed overall improvement by 2005, particularly in the architectural/decorative coatings segment, which grew 11 percent in value for U.S. manufacturers. Special purpose coatings declined slightly. While the product OEM (original equipment manufacturer) coatings segment improved worldwide, due in part to increased manufacturing in Asia and South America, the U.S. segment declined 13 percent in value.Measured by consumption, North America and Asia are the world's largest paint markets, each consuming about 29 percent of world production. These regions are trailed by Western Europe at 22 percent, and other regions consume the remaining 19 percent. China showed the biggest growth in annual consumption from 1997 to 2002, with a 6.4 percent rise.In 2004, the top ten paint and coatings manufacturers worldwide, as ranked by Coatings World, were Akzo Nobel Coatings NV, PPG Industries Inc., ICI Paints, Henkel, Sherwin-Williams Company, DuPont Coatings & BASF Coatings AG, Valspar Corp., RPM, and...See the full content of this document
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