- The key vendors in the architectural coatings market in North America 2015-2019 are Benjamin Moore & Co., Masco Corp., PPG Industries Inc., The Sherwin-Williams Co. and The Valspar Corp.
London, 22 July 2015: Technavio, an independent tech-focused global research firm, has announced the publication of its market research report on the architectural coatings market in North America 2015-2019. Growing focus on distribution channel strategies is one of the key trends emerging in the market. An increasing number of vendors in the market such as PPG are focusing on enhancing their presence in North America by employing a multichannel distribution strategy. This involves offering products through an optimal mix of distribution channels that include home centers, independent distributors, and company-owned stores. The architectural coatings market in North America 2015-2019 is expected to grow at a CAGR of 4.02% in terms of revenue during 2014-2019.
Demand for architectural coatings in North America is expected to increase in the next few years because of an increase in residential construction activities and the maintenance and repair of existing buildings. Introduction of new products by vendors, with a unique mix of functionalities and properties, is expected to be a key market driver. Customer customization by vendors has also provided growth impetus. However, the market is expected to be restricted by challenges such as market maturity.
“Vendors are focusing on branding their products to enhance top-of-the-mind recall among consumers. For instance, vendors are focusing on unique color schemes to differentiate their products and attract buyers,” says Faisal Ghaus, Vice President of Technavio Research.
“Key vendors in the market are also focusing on introduction of metallic paints that end-users could deploy to highlight surfaces.”
To define the market conditions in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
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