Now, powder producers in Europe and North America are faced with unprecedented raw material prices, a maturing market and successful competing technologies. Critics contend the market suffered as some producers focused too much on price per pound rather than the real value they provided to their customers.
Based on conversations with industry executives and insiders for our cover story on powder coatings, companies have recognized the problems plaguing their market. And the good news is, they are doing something about it.
Powder coating companies appear to be focused on delivering value and key services; they are investing in R&D to take powder to the next level; and they are moving swiftly to make the most of the shift in manufacturing to Asia, fueled by China's voracious appetite for coatings.
Companies have recognized that market dynamics are changing in North America and Europe. Leaders know they need to have a solid plan in place to maintain or even better, gain market share. It may be a case of Monday morning quarterbacking, but it's better late than never. They don't want to see profits slide further and have their products and services undervalued.