The demand for paint and coatings in the United States is expected to rise 7.8% annually through 2015, according to a study by The Freedonia Group, a Cleveland-based market research firm. The market is expected to expand strongly in both volume and value terms, rebounding from the declines of the recession-impacted 2005 to 2010 period.
An economic outlook report released Thursday for members of the North American Building Material Distribution Association (NBMDA) points to positive trends.
The NBMDA & NAFCD Economic Outlook Report describes the macroeconomic climate as "positive," but growth is expected to slow in the second half of 2011 and into 2012. (NAFCD is the North American Association of Floor Covering Distributors.)
Consumer demand for lawnmowers, trimmers, edgers, rotary tillers and other outdoors power equipment will grow over the next several years as spending rebounds from the 2007 to 2009 recession, according to the Freedonia Group.
Concern about rising energy prices and higher medical costs has many Americans expecting to spend less in the months ahead, a recent Deloitte study revealed. Despite showing no signs of spending less in recent months, the Deloitte survey found that nearly three-quarters (74%) of Americans believe higher prices could slow their spending in the months ahead. Deloitte's study also revealed that mobile and social connections are helping shoppers make savvier buying decisions in the wake of the recession.