U.S.: Paint And Coating Market 2024

Paint And Coating Market Size in the U.S.

The U.S. paint and coating market declined slightly to $X in 2023, approximately reflecting the previous year. Overall, consumption, however, continues to indicate a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2022, and then contracted modestly in the following year.

Paint And Coating Production in the U.S.

In value terms, paint and coating production fell modestly to $X in 2023. In general, production, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 when the production volume increased by X%. Over the period under review, production hit record highs at $X in 2022, and then dropped in the following year.

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Paint And Coating Exports

Exports from the U.S.

Paint and coating exports from the United States declined to X tons in 2023, shrinking by X% on the previous year's figure. In general, exports recorded a slight decline. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. The exports peaked at X tons in 2018; however, from 2019 to 2023, the exports failed to regain momentum.

In value terms, paint and coating exports reached $X in 2023. The total export value increased at an average annual rate of X% from 2013 to 2023; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2022 when exports increased by X%. The exports peaked in 2023 and are likely to see gradual growth in the immediate term.

Exports by Country

Canada (X tons), Mexico (X tons) and China (X tons) were the main destinations of paint and coating exports from the United States, with a combined X% share of total exports.

From 2013 to 2023, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Mexico (with a CAGR of X%), while the other leaders experienced a decline.

In value terms, the largest markets for paint and coating exported from the United States were Canada ($X), Mexico ($X) and China ($X), together comprising X% of total exports.

Mexico, with a CAGR of X%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average paint and coating export price stood at $X per ton in 2023, increasing by X% against the previous year. Over the period from 2013 to 2023, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2022 when the average export price increased by X% against the previous year. Over the period under review, the average export prices attained the peak figure in 2023 and is likely to see gradual growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Brazil ($X per ton) was amongst the lowest.

From 2013 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to China (X%), while the prices for the other major destinations experienced more modest paces of growth.

Paint And Coating Imports

Imports into the U.S.

In 2023, supplies from abroad of paints and coatings decreased by X% to X tons for the first time since 2012, thus ending a ten-year rising trend. In general, total imports indicated a perceptible expansion from 2013 to 2023: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. Imports peaked at X tons in 2022, and then fell in the following year.

In value terms, paint and coating imports shrank modestly to $X in 2023. Overall, total imports indicated a prominent increase from 2013 to 2023: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2020 indices. The pace of growth was the most pronounced in 2021 when imports increased by X%. Imports peaked at $X in 2022, and then reduced in the following year.

Imports by Country

Canada (X tons), Mexico (X tons) and Germany (X tons) were the main suppliers of paint and coating imports to the United States, together accounting for X% of total imports. South Korea, Italy, the UK, Japan, Spain, China, the Netherlands, France, Sweden and Turkey lagged somewhat behind, together accounting for a further X%.

From 2013 to 2023, the biggest increases were recorded for Italy (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Canada ($X) constituted the largest supplier of paints and coatings to the United States, comprising X% of total imports. The second position in the ranking was held by Mexico ($X), with a X% share of total imports. It was followed by Germany, with a X% share.

From 2013 to 2023, the average annual rate of growth in terms of value from Canada stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (X% per year) and Germany (X% per year).

Import Prices by Country

The average paint and coating import price stood at $X per ton in 2023, surging by X% against the previous year. Overall, the import price showed a relatively flat trend pattern. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was Sweden ($X per ton), while the price for Mexico ($X per ton) was amongst the lowest.

From 2013 to 2023, the most notable rate of growth in terms of prices was attained by Turkey (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform