If you’ve spent months deciding and then changing your decision about the color for your painting job, you may be tempted to go with something simple like white.

With white, the idea is that you’ll walk into the paint shop, buy your white paint, go home, and get on with the job. For those who believe this to be the case, I have news: there are more than 150 shades of white.

When doing any project, including giving your home or parts of your home a new court of paint, knowledge plays a vital role.

It allows you to take in new information and consider things you may have overlooked and determine solutions to problems that may arise during the project.

Knowledge improves your thinking, allowing you to make more informed decisions.

This is why we spent some time looking at valuable statistics to help homeowners feel confident in their decision-making when planning their painting projects, including identifying contractors and reputable paint firms, selecting colors, and budgeting.

Paint Industry Revenues

An analysis of the numbers shows that in the last 30 years, paint and wallpaper sellers in the U.S. increased their sales revenues from a little less than $5 billion in 1992 to almost $13 billion in 2019.

According to Grand View Research, “The global paints and coatings market size was valued at USD 146.2 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 4.3% from 2020 to 2027.”

Grand View Research identifies several drivers for the expected growth in revenues within the paints and coatings market.

One of the main drivers is the “Rapid urbanization and industrialization in the emerging countries, such as India, China, and Southeast Asia, [which] are anticipated to fuel the product demand in various applications.”

Even though Grand View Research cautions that the Covid-19 pandemic may curtail growth in the industry, the research firm also notes that the “global market has grown moderately in the past few years in spite of various uncertainties.”

This is the basis for the expectation that revenues will grow to $202.7 billion by 2027.

Leading Paints And Coatings Companies

Statista reports that several leading global paints and coatings companies are from the U.S., including Sherwin-Williams, with more than 4,000 stores in the U.S. and another 700 in other parts of the world.

In terms of revenue, Statista reports that Sherwin-Williams was the world’s largest paint company in 2018. That year, the company made $17.535B, representing an increase of 17% from the previous year.

Another U.S. firm identified by Statista is PPG Industries. The company is the world’s second-largest firm in the paints and coatings industry. Its 2018 net income was $15 billion.

RPM International Inc, Axalta, and Diamond Paints are the other three U.S. firms listed by Statista among the world’s top ten paints and coatings companies.

A report produced by Reports and Data in October 2019 lists BASF SE, 3M Company, Sika, Bostik, Henkel, H.B. Fuller, Mapei S.p.A., Ardex, Sain-Gobain Weber, Terraco, and Fosroc as the key players in the texture paint market.

How Much Paint Is Used Per Year?

The best indication of the amount of paint used in the U.S. that we could find is a 2015 estimate by Statista. The market and consumer data firm estimated that “In 2019, the paint and coatings demand in the United States is projected to amount to 1.4 billion gallons.”

With regards to the amount of paint used across the world annually, Coatings World, a global supplier of “information on chemicals and equipment suppliers for the paint and coatings industry,” estimates that “Global demand for paint and coatings is forecast to rise 3.7 percent per year to 54.7 million metric tons [5.47 billion liters) in 2020, valued at $193 billion.”

The Leftover Paint Problem

The United States Environmental Protection Agency (EPA) “estimates that about 10 percent of the house paint purchased in the United States each year—about 65 to 69 million gallons—is ultimately discarded.”

If you do the math, you could get an idea of the average paint thrown away by each individual in the U.S. If a gallon equals 3.8 liters, we can say that around 262.2 million liters bought in the U.S. will end up in the drain, meaning that each individual in the U.S. is throwing away an average 0.8 liters of paint per year.

If you work with the estimate that 5 liters of paint will be enough to paint the interior of an average room measuring 4m x 4m, the amount of paint thrown away in the U.S. could paint 52,440,000 average-sized rooms.

Let’s now go on and work with a figure of five rooms per home. This would mean that the paint we throw away every year could paint the interiors of 10,488,000 houses. This represents about 8.1% of the U.S.’ estimated 128.45 million homes.

What about the money we throw down the drain every time we discard paint. If a gallon of high-quality paint costs about $30, we send about $2 billion down the drain.

Let’s now say that the lowest-priced meal you can prepare in the U.S. costs $8.82. In that case, the amount we use to buy paint that we then throw away could pay for 226,757,369 meals. That’s almost one and a half lunch sessions for every American.

When describing the amount of leftover paint that gets thrown away, the EPA uses the phrase “the leftover paint problem.”

A simple way of dealing with this challenge is for homeowners to start by having an idea of the precise amount of paint they need before buying.

Several paint calculators have been designed to help home owners get an idea of the amount of paint they need for a specific project.

Median Painter Salary

To get an idea of what your painting project may cost, it’s vital to know what painters are paid in the U.S.

The U.S. Bureau of Labor Statistics’ Occupational Outlook Handbook reports that the average pay of construction and maintenance painters per year was $42,130 in May 2020. This denotes an hourly rate of $20.25.

If you consider that the average hourly earnings for employees in the construction industry were $31.37 in March 2020, it becomes clear that painters in the U.S. are on the lower end of the construction industry pay scale.

Based on this alone, you could expect to pay less for painting your home than you would for other construction-related tasks.

An article produced by USNews.com reports that in 2019, the best-paid one-quarter of painters in the U.S. were paid $53,290 while the lowest-paid quarter made $33,120.

The same publication says that “The metropolitan areas that pay the highest salary in the painter profession are San Francisco, Duluth, Salinas, Vallejo, and Boston.” In these areas, painters can expect to be paid between $57,000 and $68,000 per year.

The Houston Chronicle reports that several factors determine how much a painter is paid.

The same publication distinguishes location as one of the leading factors when considering how much to pay a painter.

It also notes that “A painter who works for a contractor probably earns less than one who is self-employed.” This explains why an estimated 42% of employees in the industry work for themselves.

Jobs Growth

The U.S. Bureau of Labor Statistics projects that the number of jobs in the construction painting industry is expected “to show little or no change from 2019 to 2029.”

Adding, “Openings are expected to arise from the need to replace workers who leave the occupation each year.”

In the decade starting from 2019, employment in the construction and maintenance industry is expected to grow by 900 jobs.

With this slow employment growth, it can be expected that based on demand and supply principles, construction and maintenance painters will continue to be on the lower end of the construction industry pay scale.

Effect Of Painting A House

From the statistics above, it is clear that the architectural painting industry is a huge one, not just in the U.S. but across the world. But are there any benefits to painting your home other than to make it look good?

The American online real estate marketing firm, Zillow.com, concludes that specific colors can get you more money when you sell your house.

The firm reports that “For-sale listings with cool, neutral wall colors sell for more money.” But what is more money? We could be talking about $5,440 more than expected.

Even the color you use for painting something that seems as inconsequential as the front door could determine how much more than expected you get for your home.

Regina Cole writes for Forbes.com and tells the story of why whenever she sees a front door, she wants it painted black.

She notes that “With a black front door, your house could sell for $6,000 more.” Cole adds, “But if your kitchen’s dominant color is brick or barn red, that could take over $2,000 off the selling price.”

The Future Of Painting

In an article published by Fixr.com, a website that provides advice on home remodeling projects, Cristina Miguelez predicts paint and color trends going into the future.

She reports that couples with kids (46%) and couples without kids (34%) are the homeowners most likely to carry out a painting project. Singe homeowners (11%) and retirees (9%) were the least likely.

Based on discernments from analyzing a Fixr.com survey, Miguelez concludes that “it’s safe to say that despite the bold colors that are often announced as the color of the year, neutral colors continue to be the clear leader for both interiors and exteriors.”

She wrapped up her analysis by citing the actor Billy Baldwin’s famous statement: “Be faithful to your own taste because nothing you really like is ever out of style.”