The Strong Impact the Paints & Coatings Industry Makes to the US Economy

 

The US paints and coatings industry is estimated to be around $28 billion and contributes significantly to the economy by exporting coating products worth $1.5 billion. This number is set to rise with the increase in future global demand. Although the industry’s growth is hampered by factors such as strict environmental regulations and high production costs, it continues to create job opportunities and contribute to economic growth.

In this blog, we take a look at how the paints and coatings industry is making real contributions to the economy.

An Overview of the Industry

Despite recent currency value fluctuations, and the influence of low crude oil prices, the industry has responded positively to such market changes. This is due to a number of reasons including innovative manufacturing technologies and processes. A commitment  to embrace  cutting edge techniques has helped market leaders’ deal with negative external trends.

Newly developed concepts during the last decade have enabled manufacturers to meet the diverse demands of customers. Techniques such as anti-corrosion protection, nano-coatings, and low-VOC coats have paved the way to greater profits.

Innovations in nanotechnology have allowed paint developers to formulate products that exhibit self-healing characteristics, conduct electricity, and offer greater protection against UV-rays. These products offer greater resistance to wear-and-tear, corrosion, and scratches. Nano-paints can be integrated with various metals and ceramics that provide beneficial properties.

The initiative to ‘go green’ has inspired a wide range of eco-friendly paints and coats. Emerging products include house paints that are allergy-sensitive, VOC-free, and exterior paints that reflect sunlight. These paints also cost less, helping companies save on money.

Industry leaders are investing substantial amounts into R&D initiatives that have resulted in multi-functional coats capable of reducing heat transfer during industrial processes. All of these factors have contributed to industry expansion, increased employment, and benefits across multiple end-users.

Contributions to the US Economy

Coatings are applied to nearly everything and assist in prolonging usefulness as well as adding aesthetic value. The following are some significant contributions the industry has made to the economy:

  • The paint and coating industry was responsible for employing 295,400 Americans in 2018
  • The payroll for the industry was around $14.1 billion in 2018
  • The industry is expected to reach $30 billion by 2021
  • The market size was around 40 million tons.

 

 

The industry is expected to continue its strong growth over the coming years,  and job opportunities for candidates with industry specific experience are expected to exponentially increase on a yearly basis.

Since 1999, ISC’s  team of  Paints and Coatings recruiters have been placing exceptional talent in sales roles within the Paints and Coatings industry on a nationwide basis.

Our team of highly experienced recruiters are highly proficient at identifying star performers with industry specific sales experience, and are happy to deliver high caliber candidates to our Clients interview table.

Please feel free to CONTACT US TODAY  to strategize on all of your critical fill hiring needs, and start a good flow of  exceptional candidates for your next hiring need.

Ann Zaslow-Rethaber is President of International Search Consultants and can be reached via email at or direct dial at 888-866-7276.

Carolyn McClendon is Director of Senior Talent Acquisition at ISC and can be reached via email at or direct dial at 888-974-0086.