Why the U.S. is facing a paint shortage (2024)

FAQs

Why the U.S. is facing a paint shortage? ›

Perhaps the most significant factor behind the paint shortage of 2022 is supply chain issues and a lack of raw materials. Without certain materials like methyl ethyl ketone and methyl methacrylate, creating industrial paint components and enamels is difficult, if not impossible.

This increased demand for paint across the nation during COVID-19 only added to the supply shortage that occurred from lack of raw materials. With higher gas prices, shipping and distribution costs have gone up for products that were made.

Paint and product shortages continue to plague the industry. Paint prices are increasing due to raw materials shortages. Labor shortages have created issues from getting the paint to market to getting it on the wall once it gets there.

Ongoing resin supply issues attributed to extreme weather events earlier this year are causing Sherwin-Williams and PPG Industries to struggle to produce paint, executives said in Q3 earnings calls.

Why is paint now so expensive? The cost of paint has risen due to several factors: increases in raw material costs, advancements in paint technology offering higher quality and durability, and the impact of global supply chain issues.

Leading paint manufacturers lost sheen following concerns over increased competition in the industry after the entry of Aditya Birla group firm's Grasim Industries in the decorative paints segment. Grasim Industries has entered the paints sector with the much-anticipated launch of its Birla Opus range of products.

The size of the India Paints and Coatings Market size is estimated at $9.60 billion in 2024. It is expected to reach $15.04 billion by 2029, growing at a CAGR of 9.38% between 2024 and 2029. As we get closer to becoming a developed nation, the repaint cycle may further compress.

Based on revenue, the United States-based company Sherwin-Williams was the leading paints and coatings company worldwide in 2023, with a revenue of 22.23 billion U.S. dollars. Another U.S. company, PPG Industries, was second in this ranking, with 18.23 billion U.S. dollars of revenue that year.

Homeowners, landlords, and businesses all utilize painting businesses. In other words, there's a need for painting services, and that need is growing due to several factors: The Painting Contractors Association says that there is a serious labor shortage, making it especially attractive to entrepreneurs.

If you're looking to buy paint, then make sure it is from trustworthy and experienced painting stores. That way, you can be sure that they offer top quality products and expert advice and warranties. At Packard Paint and Decorating, we stand behind our exterior paints and are always available to answer your questions.

Why do painters prefer Sherwin-Williams? ›

Sherwin-Williams paint is thick because it uses more solids, which makes it easier to work with and will cover more surface area. Furthermore, most surfaces can be completely covered in one to two coats. Painting contractors aim to please because their reputation is on the line with every painting project.

Benjamin Moore has the upper hand in terms of quality, which is why it costs slightly more than Sherwin-Williams house paint. Both manufacturers have multiple lines of interior and exterior paint, such as Cashmere, Emerald, or Duration.

Romero announced that The Sherwin-Williams Company has agreed to pay $1 million to resolve False Claims Act allegations that it participated in a scheme to defraud the federal Disadvantaged Business Enterprise (DBE) program in connection with a contract to paint the George C. Platt Memorial Bridge in Philadelphia.

1. When Does Paint Go on Sale? According to our research, large hardware retailers (like Lowe's, Home Depot, Menards, etc.) DO put their paint on sale usually in the summer months, and more specifically around summer holidays (weekend of Memorial Day, 4th of July, and Labor Day).

You'll end up needing to use probably three or more coats of expensive paint to get a nice, smooth, even coverage on your wall. That may seem like a lot, but when you consider that it could take nine coats of cheap paint to achieve the same result, it becomes clear that in the case of paint, the pricier, the better.

One of the main reasons why Benjamin Moore paint is more expensive is its exceptional quality and durability.

Advancements in Paint Technology: Technological advancements have allowed manufacturers to develop paint formulations that provide adequate protection with thinner application. This includes the integration of ceramic components within the paint, enhancing its durability and resistance to various environmental factors.

As of June 2023, the paint shortage is still in effect. Individual artists are still able to purchase the 'Barbie pink' paint from department stores such as Home Depot, but companies and moviemakers may not be able to obtain the vast amounts of paint necessary for their projects.

Unexpected increases in demand, unpredictable events, capacity issues, government intervention, product quality issues, production scrap, late delivery, under-ordering, and material handling backlog are all potential causes of shortages.