Painting & Wall Covering Contractors

Industry Profile Report

Dive Deep into the industry with a 25+ page industry report (pdf format) including the following chapters

Industry Overview Industry Structure, How Firms Opertate, Industry Trends, Credit Underwriting & Risks, and Industry Forecast.

Call Preparation Quarterly Insight, Call Prep Questions, Industry Terms, and Weblinks.

Financial Insights Working Capital, Capital Financing, Business Valuation, and Financial Benchmarks.

Industry Profile Excerpts

Industry Overview

The 36,500 painting and wall covering contractors in the US apply paint, stain, coatings, and wall coverings to walls, buildings, bridges, and other structures. Companies may specialize in a particular type of application, such as residential, industrial, or decorative painting. Other services include pressure washing, deck finishing, wood staining, drywall finishing, and exterior waterproofing/sealing.

Risk Of Injury And Illness

Workers are constantly working at heights that require ladders, scaffolding, lifts, or harnesses.

Dependence On The Construction Industry And Economy

Demand for painting and wall covering services is closely tied to the health of the construction industry, which is influenced by the state of the economy.

Industry size & Structure

The average paint and wall covering contractor operates out of a single location, employs 5-6 workers, and generates about $695,000 annually.

    • The paint and wall covering contractor industry consists of about 36,500 establishments that employ about 197,200 workers and generate about $25 billion annually.
    • The industry is highly fragmented; the majority of firms are small, independent operators. Many painting and wall covering contractors are self-employed.
    • Large companies, such as the Brock Group, offer industrial painting as part of a larger portfolio of services.
                            Industry Forecast
                            Painting & Wall Covering Contractors Industry Growth
                            Source: Vertical IQ and Inforum

                            Coronavirus Update

                            May 11, 2022 - Major Paint Manufacturer Raises Prices
                            • Russia’s invasion of Ukraine has increased oil price volatility, pushing paint manufacturers’ costs higher. In late April, Netherlands-based paint maker AkzoNobel said it raised its prices in the first quarter of 2022 by 17% over what they were in Q1 2021. Paint manufacturer Sherwin-Williams raised paint prices by 12% in North America on February 1.
                            • Total construction spending increased 0.1% in value month over month on an adjusted basis and 11.8% in value year over year on an unadjusted basis in March 2022, according to the US Census Bureau. Residential construction spending increased 1% month over month and 17.8% year over year in March. Nonresidential construction spending declined 0.8% month over month and increased 5.8% year over year in March.
                            • The number of building permits issued for privately-owned housing units increased 0.4% month over month and rose 6.7% year over year in March 2022. Housing starts increased 0.3% month over month and 3.9% year over year in March. Housing completions decreased 4.5% month over month and fell 13% year over year in March.
                            • The Pending Home Sales Index, a forward-looking indicator of home sales based on contract signings, decreased by 1.2% to 103.7 in March 2022 compared to the prior month, marking the fifth consecutive month of declines, according to the National Association of Realtors (NAR). An index of 100 is equal to the level of contract activity in 2001. Rising mortgage rates and higher home prices are having a cooling effect on the US housing market. "As it stands, the sudden large gains in mortgage rates have reduced the pool of eligible homebuyers, and that has consequently lowered buying activity,” said Lawrence Yun, NAR's chief economist. Rising home prices can eat into homebuyers’ budgets for pre-move improvements, such as flooring renovations.
                            • Demand for building design services is strong, according to an April report by the American Institute of Architects (AIA). The AIA’s Architecture Billing Index (ABI), an indicator of future building construction demand, was 58 in March, up from 51.3 in February. Any reading above 50 indicates growth in architectural billings. The rise in billings is likely due to an effort to lock in interest rates ahead of continued rate hikes in the coming months. The ABI reading for commercial/industrial projects was 55.3 in March. On a regional basis, the South registered the strongest March ABI score with 57.2, followed by the Midwest (56.2), the West (54), and the Northeast (46.3).
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