Growth in manufacturing, especially automobiles and construction in the mid-1990s, fueled healthy expansion of the paint industry.
In 1967 about 66 percent of paint was consumed within 500 miles of its manufacture. Decentralization persisted through the 1990s.
The paint and coatings industry employed an estimated 51,084 Americans in 2001.
The paint and coatings business was considered a mature industry, with growth projected at about 1 to 2 percent annually.
Architectural coatings, known in the industry as trade sales paint and commonly referred to as house paint, comprised the largest segment, contributing 44 percent of annual gallonage
The paint and coatings industry can be segmented into decorative coatings (used for aesthetic purposes in homes and buildings), industrial coatings (used to protect surfaces in manufacturing and industrial settings), and specialty coatings (such as automotive coatings or protective coatings for specific applications like marine or aerospace industries).
The National Paint, Varnish, and Lacquer Association was formed in 1933, and was later renamed the National Paint and Coatings Association (NPCA).
Mergers and acquisitions reduced the number of companies in the industry from more than 900 to about 700 over the course of the early 1990s. The top three companies produced 45 percent of output.
The paint and coatings industry experienced growth in the 1960s due to increased construction activities, automotive production, and consumer demand for new home improvement products. Advances in technology also led to the development of new types of paints and coatings during this time.
Through June 1999, the industry produced 667,776,000 gallons of paints and coatings, up from 671,808,000 through June 1998.
According to the U.S. Census Bureau, U.S. manufacturers shipped 1.34 billion gallons of paint and coatings in 2001, valued at $16.9 billion
Worldwide, the paint and coating industry generated $70.7 billion in 2001, similar to revenues of $70.6 billion in 2000.
This industry category includes establishments primarily engaged in manufacturing paints, varnishes; lacquers; enamels; shellac; dry powder coatings; putties, wood fillers, and allied products.