According to the latest research report from the United States’s Friedonia Group, the demand for paints and coatings in the United States will increase rapidly at an average annual rate of 7.8% in the next five years, and the market size in 2015 will reach 26.15 billion US dollars. The report pointed out that after experiencing an average annual decline of 0.7% from 2005 to 2010, demand for the US paint and coatings market will rebound strongly in the next five years.
From 2005 to 2010, the demand for paint and coatings in the U.S. fell sharply due to the decline in both construction investment and industrial output. However, during this period, accelerated prices for paint and coating products prevented the market from falling sharply.
From 2010 to 2015, the demand for paints and coatings in the US construction market will increase at an average annual rate of 10.8%. In 2015, the market size will exceed US$14 billion. Meanwhile, the demand for paints and coatings in the industrial market will be 5% per year. The speed of growth will reach 7.17 billion U.S. dollars in 2015, of which the demand for furniture and electrical appliances will grow fastest, and will continue to maintain the largest share of the market. The automotive coatings market will also maintain rapid growth. In addition, the maintenance and professional coatings market It will grow at an average annual rate of 4.4%. In 2015, the market will reach US$4.75 billion.
From 2005 to 2010, the demand for paint and coatings in the U.S. fell sharply due to the decline in both construction investment and industrial output. However, during this period, accelerated prices for paint and coating products prevented the market from falling sharply.
From 2010 to 2015, the demand for paints and coatings in the US construction market will increase at an average annual rate of 10.8%. In 2015, the market size will exceed US$14 billion. Meanwhile, the demand for paints and coatings in the industrial market will be 5% per year. The speed of growth will reach 7.17 billion U.S. dollars in 2015, of which the demand for furniture and electrical appliances will grow fastest, and will continue to maintain the largest share of the market. The automotive coatings market will also maintain rapid growth. In addition, the maintenance and professional coatings market It will grow at an average annual rate of 4.4%. In 2015, the market will reach US$4.75 billion.
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