Industry Statistics and Trends
Market size and recent performance (2013-2028)
Industry revenue has declined at a CAGR of 1.1 % over the past five years, to reach an estimated $2.7bn in 2023.
Trends and Insights
Volatility has affected performance over the last few years
- While revenue is expected to continue its long-term decline, elevated expenditures on paint from the home construction and renovation market have slowed this trend.
- Additional trends and insights available with purchase
Source: IBISWorld
Industry outlook (2024-2029)
Market size is projected to decline over the next five years.
Trends and Insights
Mixed market conditions are expected for paint manufacturers
- The Paint Manufacturing industry in Canada will continue to decline over the next five years.
Biggest companies in the Paint Manufacturing in Canada
| Company | Market Share (%)
2023 | Revenue ($m)
2023 | Profit ($m)
2023 | Profit Margin (%)
2023 |
|---|---|---|---|---|
PPG | 110.2 | 10.6 | 9.6 | |
RPM | 70.3 | 7.0 | 10.0 | |
Sherwin-Williams | 37.5 | 5.1 | 13.6 |
To view the market share and analysis for all 4 top companies in this industry, view purchase options.
Products & Services Segmentation
Source: IBISWorld
Industry revenue is measured across several distinct product and services lines, including Architectural coatings, Industrial coatings and finishes and Automotive coatings. Architectural coatings is the largest segment of the Paint Manufacturing in Canada.
Trends and Insights
Architectural coatings are used by professional building painters, contractors and DIY consumers
- Architectural coatings are meant for interior and exterior building applications.
- More insights available in the full report
Table of Contents
About this industry
Industry definition
Operators in the Paint Manufacturing industry in Canada produce various paints, timber finishes and other surface coating products to decorate and protect surfaces against wear, weather and corrosion. Key products include paints, varnishes, lacquers, stains, wood fillers, paint thinners and removers. This industry does not manufacture artist’s paint.
What's included in this industry?
Manufacturing architectural coatingsManufacturing latex, oil and enamel paintsManufacturing epoxy coatings and wood fillersManufacturing primersManufacturing industrial product finishes and motor vehicle paintsManufacturing lacquers, shellac, stains and varnishesManufacturing paint and varnish removers and thinnersManufacturing polyurethane and powder coatingsManufacturing water-repellent coatings for wood, concrete and masonryCompanies
PPGRPMSherwin-WilliamsPurchase this report to view all 4 major companies in this industry.
Related Terms
ORIGINAL EQUIPMENT MANUFACTURER (OEM)DO-IT-YOURSELF (DIY)PIGMENTIndustry Code
NAICS 325510 - Paint Manufacturing in Canada
Performance
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Analyst insights
Paint manufacturing revenue will fall due to decreasing housing starts and competition from US-based manufacturers. However, larger manufacturers will retain healthy profit a...
In this chapter (4)
- Current Performance
- Outlook
- Volatility
- Life Cycle
Key metrics
- Annual Revenue, Recent Growth, Forecast, Revenue Volatility
- Number of Employees, Recent Growth, Forecast, Employees per Business, Revenue per Employee
- Number of Businesses, Recent Growth, Forecast, Employees per Business, Revenue per Business
- Total Profit, Profit Margin, Profit per Business
Charts
- Revenue, including historical (2013-2022) and forecast (2023-2028)
- Employees, including historical (2013-2022) and forecast (2023-2028)
- Businesses, including historical (2013-2022) and forecast (2023-2028)
- Profit, including historical (2013-2023)
- Industry Volatility vs. Revenue Growth
- Industry Life Cycle
Detailed analysis
- Trends in supply, demand and current events that are driving current industry performance
- Expected trends, economic factors and ongoing events that drive the industry's outlook
- Key success factors for businesses to overcome volatility
- How contribution to GDP, industry saturation, innovation, consolidation, and technology and systems influence the industry's life cycle phase.
Products and Markets
Learn about an industry's products and services, markets and trends in international trade.
Analyst insight
Demand for paint is influenced by factors like new housing starts, industrial activity, lifestyle trends, and disposable income. Environmental regulations and safety standard...
In this chapter
- Products & Services
- Major Markets
- International Trade
Key metrics
- Largest market segment and value in 2023
- Product innovation level
- Total imports, level and trend
- Total exports, level and trend
- Trade Balance
Charts
- Products & services segmentation in 2023
- Major market segmentation in 2023
- International trade, including imports by country and exports by country
Detailed analysis
- Trends impacting the recent performance of the industry's various segments
- Innovations in the industry's product or service offering, specialization or delivery method
- Key factors that successful businesses consider in their offerings
- Buying segments and key trends influencing demand for industry products and services
- Recent trends in import and export volumes, country of origin or destination, and expected future trends
Geographic Breakdown
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Analyst insights
Ontario has a significant number of establishments due to its high population and strategic location. Proximity to a large customer base enables manufacturers to be continual...
In this chapter (1)
- Business Locations
Charts
- Share of revenue, establishment, wages and employment in each province
- Share of population compared to establishments in each region in 2023
Tables
- Number and share of establishments in each province in 2023
- Number and share of revenue each province accounts for in 2023
- Number and share of wages each province accounts for in 2023
- Number and share of employees in each province in 2023
Detailed analysis
- Geographic spread of the industry across North America, and trends associated with changes in the business landscape
- Key success factors for businesses to use location to their advantage
Competitive Forces
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Analyst insights
High start-up costs and intense competition can deter potential market entrants. The need for product differentiation, advanced machinery and skilled employees further elevat...
In this chapter (4)
- Concentration
- Barriers to Entry
- Substitutes
- Buyer & Supplier Analysis
Key metrics
- Industry concentration level
- Industry competition level and trend
- Barriers to entry level and trend
- Substitutes level and trend
- Buyer power level and trend
- Supplier power level and trend
Charts
- Market share concentration among the top 4 suppliers from 2018-2023
- Supply chain including upstream supplying industries and downstream buying industries, flow chart
Detailed analysis
- Factors impacting the industry’s level of concentration, such as business distribution, new entrants, or merger and acquisition activity.
- Key success factors for businesses to manage the competitive environment of the industry.
- Challenges that potential industry entrants face such as legal, start-up costs, differentiation, labor/capital intensity and capital expenses.
- Key success factors for potential entrants to overcome barriers to entry.
- Competitive threats from potential substitutes for the industry’s own products and services.
- Key success factors for how successful businesses can compete with substitutes.
- Advantages that buyers have to keep favorable purchasing conditions.
- Advantages that suppliers have to maintain favorable selling conditions.
- Key success factors for how businesses can navigate buyer and supplier power.
Companies
Learn about the performance of the top companies in the industry.
Analyst insights
PPG is the largest paint manufacturer in Canada, employing 52,000 people and has a global presence. The company's growth strategy includes acquisitions such as Finnish painti...
In this chapter
- Market Share Concentration
- Companies
- Company Spotlights
Charts
- Industry market share by company in 2019 through 2023
- Major companies in the industry, including market share, revenue, profit and profit margin in 2023
- Overview of PPG's performance by revenue, market share and profit margin from 2017 through 2023
- Overview of RPM's performance by revenue, market share and profit margin from 2017 through 2023
- Overview of Sherwin-Williams's performance by revenue, market share and profit margin from 2017 through 2023
- Overview of revenue, market share and profit margin trend for one additional company
Detailed analysis
- Description and key data for PPG, and factors influencing its performance in the industry
- Description and key data for RPM, and factors influencing its performance in the industry
- Description and key data for Sherwin-Williams, and factors influencing its performance in the industry
- Description, key data and performance trends for one additional company
External Environment
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Analyst insights
Paint manufacturers must comply with the Canadian Environmental Protection Act and the Domestic Chemicals List to ensure their chemicals are legally and environmentally safe. ...
In this chapter
- External Drivers
- Regulation & Policy
- Assistance
Key metrics
- Regulation & policy level and trend
- Assistance level and trend
Charts
- Regulation & Policy historical data and forecast (2013-2028)
- Assistance historical data and forecast (2013-2028)
Detailed analysis
- Demographic and macroeconomic factors influencing the industry, including Regulation & Policy and Assistance
- Major types of regulations, regulatory bodies, industry standards or specific regulations impacting requirements for industry operators
- Key governmental and non-governmental groups or policies that may provide some relief for industry operators.
Financial Benchmarks
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Analyst insights
Purchases account for a large share of revenue due to inflationary trends, COVID-triggered logistics issues and postpandemic demand surge. Changing crude oil prices significa...
In this chapter
- Cost Structure
- Financial Ratios
- Key Ratios
Key metrics
- Profit margin, and how it compares to the sector-wide margin
- Average wages, and how it compares to the sector-wide average wage
- Largest cost component as a percentage of revenue
- Industry average ratios for days' receivables, industry coverage and debt-to-net-worth ratio
Charts
- Average industry operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2023
- Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2023
- Investment vs. share of economy
Data tables
- Liquidity Ratios (2016-2021)
- Coverage Ratios (2016-2021)
- Leverage Ratios (2016-2021)
- Operating Ratios (2016-2021)
- Assets (2016-2021)
- Liabilities (2016-2021)
- Cash Flow & Debt Service Ratios (2013-2028)
- Revenue per Employee (2013-2028)
- Revenue per Enterprise (2013-2028)
- Employees per Establishment (2013-2028)
- Employees per Enterprise (2013-2028)
- Average Wage (2013-2028)
- Wages/Revenue (2013-2028)
- Establishments per Enterprise (2013-2028)
- IVA/Revenue (2013-2028)
- Imports/Demand (2013-2028)
- Exports/Revenue (2013-2028)
Detailed analysis
- Trends in the cost component for industry operators and their impact on industry costs and profitability
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2013-2028)
- IVA (2013-2028)
- Establishments (2013-2028)
- Enterprises (2013-2028)
- Employment (2013-2028)
- Exports (2013-2028)
- Imports (2013-2028)
- Wages (2013-2028)
Top Questions Answered
Unlock comprehensive answers and precise data upon purchase. View purchase options.
What is the market size of the Paint Manufacturing industry in Canada in 2024?
The market size of the Paint Manufacturing industry in Canada is $2.7bn in 2024.
How many businesses are there in the Paint Manufacturing in Canada industry in 2023?
There are 300 businesses in the Paint Manufacturing industry in Canada, which has declined at a CAGR of 0.0 % between 2018 and 2023.
Has the Paint Manufacturing industry in Canada grown or declined over the past 5 years?
The market size of the Paint Manufacturing industry in Canada has been declining at a CAGR of 1.1 % between 2018 and 2023.
What is the forecast growth of the Paint Manufacturing industry in Canada over the next 5 years?
Over the next five years, the Paint Manufacturing industry in Canada is expected to decline.
What are the biggest companies in the Paint Manufacturing market in Canada?
The biggest companies operating in the Paint Manufacturing market in Canada are PPG, RPM and Sherwin-Williams
What does the Paint Manufacturing in Canada include?
Manufacturing architectural coatings and Manufacturing latex, oil and enamel paints are part of the Paint Manufacturing industry.
Which companies have the highest market share in the Paint Manufacturing in Canada?
The company holding the most market share in Canada is PPG.
How competitive is the Paint Manufacturing industry in Canada?
The level of competition is high and steady in the Paint Manufacturing industry in Canada.
Related Industries
Widen your competitive advantage with related industries
Competitors
Complementors
Methodology
How are IBISWorld reports created?
IBISWorld has been a leading provider of trusted industry research for over 50 years to the most successful companies worldwide. With offices in Australia, the United States, the United Kingdom, Germany and China, we are proud to have local teams of analysts that conduct research, data analysis and forecasting to produce data-driven industry reports.
Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.
IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.
What data sources do IBISWorld analysts use?
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
Key data sources in Canada include:
- Statistics Canada
- Industry Canada
- Canadian Business Patterns
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
- Industry and trade associations
- Industry federations or regulators
- Major industry players annual or quarterly filings
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
How does IBISWorld forecast its data?
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.
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