Throwing on a new coat of paint seems like it would be an easy thing to do, but it isn’t always that way. It can be time consuming to get it right and one drip can cause a whole section to need to be redone! With both exterior and interior paint being used to protect homes and industrial equipment, there is always a need for some painting to be done.
Paint Industry Facts
The average painter working full time makes about $32,000 per year.
Painting can be a hazardous profession, especially in the developing world. Some paints still use radioactive components in them and the fumes from the paint can cause breathing issues. Because paint is also considered a bit of a luxury item outside of industrial and automotive applications, painters also have a fairly bleak job outlook in the future.
Essential Statistics in the Painting Industry
1. In the next decade, it is estimated that only 5,500 new painting jobs will be created in the United States.
2. Most painters receive only a few days of training while on-the job. Automotive painters, however, may require up to 2 years of training.
3. There are generally no education requirements associated with finding work as a painter, although automotive painting especially may require special classes, courses, or degrees to qualify.
4. More than $31 billion in revenue is produced by painting businesses.
Takeaway: Painting is one of those tasks that just need to get done periodically when there is money to get it done. Residential interior paint only lasts about 3 years and exterior paint can fade, chip, and peel quickly depending on local community factors. For homes, businesses, equipment, and automobiles to retain their value, painting has to be done occasionally. Because of that fact, there will always be room for at least some employment opportunities within this field.
Additional Key Statistics in the Painting Industry
1. The demand for paint products on a global scale is expected to his 46 metric tons by the year 2015.
2. The global painting industry is expected to be valued at $142 billion by the end of next year.
3. Water-based paint products are quickly replacing solvent-based paint products as a global environmental emphasis continues to grow.
4. The painting industry accounts for about $6 billion in revenues annually in Canada.
5. Annual revenues in the United States for the painting industry reached $27 billion last year.
6. Over the past 5 years, the U.S. industry has contracted an annualized 1.5% each year.
7. The average painting business in the United States only employs 1 to 2 workers.
Takeaway: Much of the figures for the painting industry are likely lower because of the overall economy that took hold in 2008. Because people have less money overall and wages have been static or lower in many employment fields, there are simply fewer employment opportunities within the painting industry because of it. As incomes begin to rise as expected in the next five years, the painting industry will most certainly experience an increase in revenues and employment opportunities once again.
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