Sherwin-Williams Benefits From Resilient Architectural Paint Market and Moderating Material Costs

Sherwin-Williams is the largest provider of architectural paint in the United States. The firm has over 5,000 stores and sells premium paint at higher price points than most competitors. Sherwin-Williams also sells its products in big-box stores and provides coatings for original equipment manufacturers. More than three fourths of Sherwin's business occurs in North America, with much of its international exposure acquired during the 2016 purchase of Valspar. The acquisition of Valspar has bolstered its previously modest retail presence, as Valspar’s long-standing relationship with Lowe’s led to an exclusive partnership for Sherwin in 2018. Sherwin also obtained Valspar’s industrial business, expanding its performance coatings segment.