North America Paints And Coatings Market By Component (One Component, Two Component and Other Components), By Formulation (Water Borne, Solvent Borne, Powder Based, High Solids and Other Formulations), By Resin Type (Alkyd, Epoxy, Acrylic, Polyurethane Polyester and Vinyl and Other Resins), By Application (Architectural Application and Industrial Application), and Country.  

The North America Paints and Coatings market estimated to be valued US$ XX Mn in 2023 and poised to grow at significant CAGR over 2024-2030. The key factors that are responsible for the market growth include increasing beverage can production in the region, increasing commercial construction activities in the United States and increase in the demand for bio-based & eco-friendly paints & coatings. Coatings are used in beverage cans to provide design, aesthetic appeal, quality, reliability, sustainability and most importantly, protection to the products. Therefore increasing can production drives the paints and coatings market. In recent times, there has been an increase in the demand for beverage cans in North America, especially aluminum cans, as they have a high recycling rate and more recyclable content. The United States government is planning to remove tariffs or trade restrictions on aluminum products which would increase the production of beverage cans in the country, thereby driving the paints and coatings market.

The Can Manufacturers Institute (CMI), the national trade association of the metal can be manufacturing industry and its suppliers in the United States, has requested the United States Commerce Department that aluminum can sheet and aluminum ingot, which is used to make beverage cans, must be made free of tariffs or trade restrictions. In the United States, there has been an increasing demand for specialty beverage cans. Specialty cans, of sizes other than standard diameter of 12 oz have become a popular format for a variety of products which include soft drinks, beer, ready-to-drink teas, coffee, sparkling waters, wine and spirits, juices and other functional beverages. Crown Holdings, which is the leading supplier of metal packaging products worldwide, has opened its new beverage can manufacturing plant in Nichols, New York. In Canada, the number of brewing facilities has increased which in turn is increasing the production, thereby driving the paints and coatings demand for alcoholic beverages cans. North America Paints and Coatings market is surging owing to frequent acquisitions and launchings by the market players. For Instance, June 2017: Sherwin Williams acquired Valspar, a North America leader in paints & coatings industry.