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How might the architectural paint industry be characterized?

The US paint industry
The US paint industry is considered to be a maturing industry. Industry sales in 1995 were estimated to be slightly over $13 billion.
The US paint market is divided into three segments: architectural coatings (43%), original equipment manufacturing (OEM) coatings (35%)and special purpose coatings (22%). The architectural coatings are general purpose paints, varnishes, and lacquers used on residential, commercial, and institutional structures. They are sold through wholesalers and retailers. OEM coatings are formulated to industrial buyer specifications and they are used for durable goods such as automobiles, transportation equipment, building products industrial machinery and equipment etc. Special purpose coatings are formulated for special applications or environmental conditions (extreme temperatures, exposure to chemicals). They are used for automotive and machinery refinishing, industrial construction such as factories, railroads, utilities, bridges marine application, highway and traffic machines and roof paints.
Architectural paint industry
In 1995, the U.S. sales for architectural paint coating accounts for about $5.5 billion (without sundries). The architectural coatings are mature market. A slow growth rate is the main characteristic of a mature market. The sluggish growth rate measured in dollars can be traced back to a slowing growth rate in volume. This is because of a growing of materials that don’t require paint or require little paint such as plastic and aluminum. These are substitute products that can increase consumers’ sensibility to changes in price.
This is also because of the increasing quality of paints. Less paint is needed for each application and the time between applications is longer. Lastly, industrial clients have developed more

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