Paint & Wallpaper Stores Industry Profile

Companies in this industry sell paint, coatings, wallpaper, and related supplies. Major companies include the retail divisions of paint manufacturers Benjamin Moore, Kelly-Moore, and Sherwin-Williams (all based in the US), as well as Farrow & Ball (UK), Inspirations Paint (Australia), and Nakashima Shokai (Japan).

The global market for paints and coatings is expected to reach about $260 billion by 2032, according to Statista. Significant gains are forecast for the Asia/Pacific region, especially China and India with a 45% market share in 2022.

The US paint and wallpaper store industry includes about 7,000 establishments (single-location companies and units of multi-location companies) with combined annual revenue of more than $10 billion.

COMPETITIVE LANDSCAPE

Home maintenance, home sales, and construction and remodeling trends drive demand. The profitability of individual companies depends on effective merchandising and marketing and the ability to establish relationships with contractors. Large companies have advantages in purchasing, distribution, finance, and marketing. Small companies can compete effectively by offering specialty products, providing superior customer service, or serving a local market. The US industry is highly concentrated: the top 50 companies account for about 85% of industry revenue.

Competition for paint and wallpaper stores includes home centers, hardware stores, mass merchandisers, and direct sellers. Home Depot's paint sales totaled about $11 billion in 2023; Sherwin-Williams' retail paint sales totaled about $23 billion, while Lowe's sold about $5 billion on its paint product.