Paint and Coating Market - U.S. Paint And Coating Export Growth Is Likely to Lose Its Momentum
Paints and Varnishes July 13, 2016
Photo: © Yastremska / Bigstockphoto
The U.S. takes a 10% share (based on USD) of exports on the paint and coating market, which put it in second place, following Germany (17%) and ahead of Japan (7%) and Italy (7%). The U.S. exported 2,770 million USD in 2015, which was 1% over the previous year. U.S. paint and coating exports showed mixed dynamics from 2007 to 2015. A significant drop in 2009 was followed by steady growth through to 2015, decelerating by the end of the period. Back in 2010, U.S. paint and coating exports surpassed their pre-recession level of 2008.
As U.S. companies improved their positions on overseas markets, domestic manufacturers benefited from a new growth driver. However, as exports growth is likely to lose its momentum, that growth driver could disappear.
Canada (40%) and Mexico (22%) were the main destinations of U.S. paint and coating exports in 2015. The share exported to Mexico increased (+6 percentage points), while the share sent to Canada illustrated negative dynamics (-2 percentage points) from 2007 to 2015.
From 2007 to 2015, the U.S. was a net exporter of paint and coating. Moreover, exports grew faster than imports on average over the period under review. After surging in 2010, net U.S. exports of paint and coating grew gradually through to the end of the period under review. In 2015, this industry ran a significant trade surplus of 1,691 million USD.
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Source: U.S. Paint And Coating Market. Analysis And Forecast to 2020
