SOURCE: MarketResearch.com

MarketResearch.com

December 08, 2011 07:08 ET

Market Research Projects U.S. Asphalt Market Growth at 8.2% CAGR Through 2015

ROCKVILLE, MD--(Marketwire - Dec 8, 2011) - MarketResearch.com, the leading source of market research, has announced the addition of the new report "Asphalt" to their collection of Materials market reports. For more information, visit http://www.marketresearch.com/Freedonia-Group-Inc-v1247/Paints-Coatings-6665433/

U.S. demand for paint and coatings is forecast to exceed $25 billion in 2015. The market is expected to expand strongly in both volume and value terms, rebounding from the declines of the recession-impacted 2005-2010 period. During this time, construction spending and manufactured goods output both fell, reducing coatings demand in the key architectural and manufacturing markets. Through 2015, growth will be fueled by renewed strength in manufacturing and construction activity as the U.S. economy continues its economic recovery. Increasing domestic demand will boost production levels, as will favorable export opportunities, particularly in Asia and Mexico.

The architectural market will continue to account for the largest share of paint and coatings demand in the U.S. Advances will outpace those of the other major segments through 2015, promoted by renewed strength in the housing market. In particular, home building activity will rebound from the low 2010 level, boosting paint and coating sales. Going forward, the interior component of the architectural paint market will remain considerably larger than the exterior segment, and growth in demand for interior paint will outpace that for exterior paint.

The outlook for exterior coatings will continue to be affected by the introduction of more efficient products, which can cover more square footage per gallon, as well as the growing popularity of siding materials, such as vinyl, which do not require painting. On the bright side, however, demand for exterior paint will be promoted by the rising use of one alternative siding material -- fiber cement -- in the U.S. housing industry. Unlike vinyl, fiber cement siding can be painted. To the extent that fiber cement displaces vinyl siding, this trend will provide opportunities for exterior paint demand.

Sales of paint and coatings in manufacturing markets will expand at a respectable rate through 2015, reversing the downward trend of the 2000-2010 period. Among the various market segments, the furniture and fixture sector will have the best opportunities for growth, and will remain the leading outlet for coatings over the forecast period. However, the motor vehicle sector will post more rapid gains, regaining its position as the second largest outlet for coatings among manufacturing markets.

For more information, visit http://www.marketresearch.com/Freedonia-Group-Inc-v1247/Paints-Coatings-6665433/

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