The largest segment of the paint industry produces architectural coatings — including consumer paints — which make up more than half of the total volume of coatings produced annually in the United States. In 2018, the industry shipped more than $11.7 billion of architectural coatings.
These products are used to beautify and maintain the surfaces of homes, public buildings, offices and factories. About half are applied by “do-it-yourself” consumers, who recognize that paint is the most versatile, least costly and easiest to use of all home decorating products.
Industrial Coatings/Original Equipment Manufacturer (OEM)
Coatings applied at the time of manufacture of products are known as industrial or Original Equipment Manufacturer (OEM) coatings. In 2018, $7.7 billion of industrial coatings were sold to customer industries.
Special Purpose Coatings
This industry segment includes a wide array of divergent coatings. The one unifying characteristic is that these coatings tend to be “field-applied,” as opposed to being applied in a factory setting. In 2018, industry shipped $4.9 billion of special purpose coatings.
Special purpose coatings represent the smallest of the three major classifications of coatings. This segment can be divided into the following major sub-segments:
• Automotive Refinish Coatings is the largest sub-segment, with a value of $2.2 billion in 2018.
• Industrial Maintenance Coatings is the second largest sub-segment, with a value of $1.4 billion in 2018.
• Traffic Marking Paint, used on roadways, parking lots and airport surfaces, had a value of $530 million in 2018.
• Marine Paints, including both OEM (original equipment manufacturer) and refinish applications, had a value of $460 million in 2018.
Source: The ChemQuest Group