Have painting you need to get done? You might be waiting a while. 2021 has seen the most dramatic paint shortage in the history of both commercial and residential painting. From the reeling of the industry fall out due to the COVID-19 pandemic to the Texas freeze in February, paint is in thin supply. What caused the nationwide paint shortage of 2021? What are the effects of the 2021 paint shortage? This blog will answer both of these questions. Here is the cause and effect of the 2021 paint shortage that is currently causing headaches and long wait times in the commercial and residential painting industry.
The Cause of the 2021 Painting Shortage
To understand what the effects of the 2021 paint shortage look like, you first need to understand what is causing the paint shortage in the first place.
The COVID-19 pandemic shuttered businesses across the United States and across the globe. Paint-producing factories were no exception. Paint is made through a series of layers that comprise a painting manufacturer’s supply chain. When one of these supply chain levels slows down or halts production, the production cycle is in jeopardy. The painting manufacturing process is reliant on petrochemical chemicals which are made in a number of petroleum refineries. The COVID-19 pandemic saw a sharp decrease in demand for refined petroleum. This sharp decrease in demand put extensive financial pressure on refineries that operate on thin margins. Several refineries were forced to slow or halt production altogether.
If that wasn’t bad enough, right as the petroleum refineries were getting back up and running, Texas was hit with a once-in-a-lifetime ice storm that literally froze product. Texas is the leading producer of raw materials used in paint production, like refined petroleum. This frozen product was rendered unusable, and the little supply that had already been produced decreased even more.
The Effects of Paint Shortage and the Housing Industry
Funny thing about painting – it’s tough to do if you don’t have the paint, and right now it’s hard to come by especially the most common neutral colors.
As the world began to wake up from its COVID-19 slumber, two specific industries saw demand shocks like never before. Both the real estate industry and the home improvement industry boomed at a rapid rate. People suddenly found themselves working remotely indefinitely and decided to either spruce up their home or move and buy a new one. Painting is a core service in both the real estate industry and the home improvement industry. Realtors regularly enlist the help of a trusted painting company to help get homes in prime selling condition. And when it comes to sprucing up a home, painting is typically at the top of the to-do list.
The 2021 paint shortage is seeing two main nationwide ripple effects. The first is a spike in cost. The second is waiting times of a couple of months or longer. Case in point – if you are looking for a new paint job for your home, be prepared to pay top dollar for the supplies and be prepared to wait on the labor.
Need a Painting Refresh or Complete Makeover?
The 2021 painting shortage might be complicating things, but you’ll never have to worry about a complicated process with Pro Edge Painting. From our initial assessment to the final invoice, you will know what you can expect to pay and when you can expect to have it done. Our simple and straightforward approach is how we became the most trusted painting company in Northern Virginia. Contact us today to get started on a refreshing painting experience.