Market Research North America Paints & Coatings Market Analysis | Page 2

driving the market. Overall, the US construction market grew by 1.9% in Q3 of 2017, over Q3 2016,
owing to the rise in new single-family house constructions. Construction of new residential houses in the
United States climbed by over 13% in the month of October, 2017 recording the biggest jump in a year.
The new residential construction in terms of annual rate for housing units started in the United States,
recorded a growth of 6.34% in 2016, over 2015. In the first 10 months of 2017, the new residential
construction recorded a growth of 2.43% when compared to the same time period in 2016. The United
States is competing toward complete transformation of its diesel buses into zero-emission buses. As of
2016, the United States had over 300 individual zero-emission buses operating in transit fleets
throughout the nation. Electrical buses are fast gaining importance and their production is set to grow
rapidly in the coming years. Shifting trend toward electrical vehicles, due to rise in environmental
regulations, is the major factor influencing the coatings market. Increase in solar capacity by more than
90% in the past two years is set to drive the growth of the renewable energy sector in the United States.
The wooden flooring industry grew by more than 4% in 2017 . All these factors are expected to rapidly
drive the market for paints & coatings in United States during the forecast period.
Notable Developments in the Market
June 2017: The Sherwin-Williams Company completed the acquisition of The Valspar Corporation and
created a global leader in paints & coatings industry.
April 2017: PPG opened a new USD 3 million expansion unit for packaging coatings manufacturing at its
Oak Creek, Wisconsin, plant.
Major Players: AkzoNobel, RPM International, MASCO, PPG, and The Sherwin Williams Company,
amongst others.
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america-paints-coatings-market-segmented-by-end-user-industry-technology-resin-type-and-
geography-growth-trends-and-forecast-2018-2023
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