As we usher in a new year, the coatings industry continues to deal with a number of challenges. While raw material prices and economic instability continue to present challenges to the coatings industry, there is also a sense of optimism that 2013 will see some improvements.
According to a recent study by companiesandmarkets.com, a market research company, the global coatings market has been forecast to increase at a compound annual growth rate of 5.46 percent through 2015, with the industry set to hit 8.7 billion gallons and $107 billion by the year 2017. According to this study, key factors contributing to growth within the coat- ings market include the recovery of global economies from the recent eco- nomic downturn, rapid industrialization, increasing demand from end-use sectors such as automotive and construction, rising competition and tech- nological and product developments.
This optimistic sentiment was echoed by coatings manufacturers I in- terviewed for The Architectural Coatings Market (pg. 24). Architectural coatings manufacturers reported that 2012 saw an increase in sales and cited a recovering housing market and improved economy as reasons for optimism in 2013.
In The Additives Market (pg. 28) associate editor Bridget Klebuar re- ports that although the additives market continues to feel the effects of the struggling economy, the market remains competitive with a focus on developing products that are both economical and effective.
New Year, New Name
Another exciting change coming in 2013 is the news that Rodman Publishing Corp., publisher of Coatings World, has changed its name to Rodman Media Corp. to better reflect our company’s business model. The new name is meant to convey the fact that Rodman Media offers readers and partners solutions that go beyond traditional magazines.
* Cover courtesy of Valspar
New Year, New Outlook
Published January 15, 2013
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