How big is the soundproof paint market?
Over the past couple years since I began working on SoundGuard I’ve been asked the following question at least a hundred times — “how big is the soundproof paint market”
To be honest I have no idea and neither does anyone else. When you create a new product category at the intersection of two massive industries it means you won’t have much relevant data to use for questions like this one.
However, I’ve also been wondering what our potential market size might be so I decided to crunch some numbers.
This is what I do know:
– U.S. paints & coatings industry is $50+ billion annually
– Global paints & coatings industry is $100+ billion annually
– U.S. soundproofing industry is $5 billion annually
– Global soundproofing industry is $15 billion annually
SoundGuard sits somewhere between these two industries but it’s worth noting that our product is just the base coat (see picture below). This means the top coat or finish coat is still needed which makes the big paint companies more like allies rather than competitors
Over the next 12 months, in just the U.S. alone, more than 30,000,000,000 square feet of wall space will be painted (yes that’s 30 billion)…which translates into approximately 200,000,000 walls.
If we make a very conservative assumption that 1 out of every 1,000 walls could benefit from soundproof paint (that’s 200,000 walls total) and assuming the average wall costs $500-750 (product, materials, shipping, labor) then I believe the current addressable market for soundproof paint is somewhere between $100-150 million annually.
**If you assume that 1 out of every 500 walls could benefit from soundproof paint then these numbers all double which means the current market size might be closer to $200-300 million.
My goal with SoundGuard is to capture as much of this market as possible.
In my opinion as the commercial and residential markets become more informed and educated on the possible uses for soundproof paint then this new product category should grow rapidly at 30-40% per year which means “soundproof paint” could easily become a $1 billion market in 5-7 years.
Contact us at firstname.lastname@example.org to speak with a member of our sales team.