Sector: paints-wallcoverings

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Market Overview: The manufacturing of paints and coatings happens throughout the U.S., concentrating in regions adjacent to supply chains, markets, and transportation. Because paint and coatings are challenging and expensive to ship, there are fewer imports into this market with most coming from Canada and Mexico.  

Manufacturers not only supply the construction industry, but other manufacturers making consumer goods. The architectural coatings piece of the market is the largest with $15.5 billion in revenue in 2023 and led by Ohio based Sherwin-Williams, who boasts 61.3% of the total industry market share. PPG Industries, based in Pennsylvania, comes in second with 24.7% industry market share. The market is mature, and the industry is continuing to consolidate through acquisitions – Sherwin-Williams acquired Valspar in 2017 - but there are still niche market opportunities for small manufacturers who make specialized, higher cost products.  

New markets for paints and coatings include conductive “smart paint” that can transform walls into interactive screens. Otherwise, paint manufacturers are being driven to innovate their product lines as pressure from environmental and health regulations are requiring manufacturers to develop more sustainable and healthier products. Water-based paints are supplanting oil-based paints in many applications and many manufacturers are creating low-to-no VOC and less toxic product lines. Sustainable product certifications have helped distinguish what paints are healthier in the marketplace and are regularly required to achieve green building certifications.  

Wallcoverings

In recent years, consumers have preferred to use paints over wallcoverings due to trends and the possible need for professional help. However, as trends and manufacturing capabilities in the industry have changed so has growth potential in this market, which is projected to increase nearly 4.5% in worth from $41.4 billion in 2025 to $51.25 billion in 2030. Wall panels in particular are expected to help drive this growth. Manufacturing in the wallcoverings market is fragmented, competitive and without significant industry leaders. Creative partnerships, product innovations and industry consolidation continue to shape the market.