The market for paint, wallcoverings and woodcare products has experienced moderate growth since 2012. There was a significant upturn in the construction sector in 2014, stimulating demand for all products. The market continued to grow to 2015, underpinned by positive developments in the domestic sector in particular, but has since been relatively flat. Key market drivers of demand are the housing market, consumer confidence, levels of DIY & home improvements, interior design trends, non-residential construction activity, domestic conservatory market and outdoor products requiring painting and/or treating.
Paint and effects sector has grown by an estimated 8% from its low point in 2009, although has been relatively flat in recent years. Within this sector there has been a continued shift towards more water based paints, with acrylic eggshell for example representing a growth area. There has been an increase in demand for value added products such as durable, stain resistant and easy-to-clean products, as well as more specialist paints, including light reflecting, textured finishes, anti-bacterial, low odour, fast drying, anti-slip floor paint and insulating paint.
In the wallcoverings sector, people appear to be increasingly confident in using bold designs. Large designs, increased use of texture and digital prints are popular. Digital printing has enabled some revolutionary changes, with the availability of unlimited colour palettes and no restrictions on pattern size. The woodcare product sector has experienced growth since 2013, benefiting from a range of factors including the impact of climate conditions & the weather, growth in key sectors such as fences, sheds, furniture & conservatories, increasing popularity of garden paint and the growing housing sector.
Market prospects remain positive, although only modest levels of growth are forecast to 2022. Levels of residential RMI are forecast to increase, despite the economic uncertainty. Not only are people improving their home instead of moving, but the trend of carrying out improvements prior to placing properties on the market appears to be returning. The trend for ‘get someone in’ (rather than DIY) is expected to continue benefiting the market. Imports remain a feature of the market, with the EU accounting for the majority share of imports, although the UK is a net exporter of paints.