The powder coatings industry has come a long way since the introduction of powder as an alternative to liquid coatings more than 40 years ago. And as technology improves, better products are introduced and powder coatings become more popular in areas that had been dominated by liquid paint. The industry shows no signs of slowing down anytime soon.
According to the Powder Coatings Institute (PCI), Alexandria, VA, the powder coatings industry is the fastest growing finishing technology in North America, increasing at a rate of eight percent to 10% per year in pounds of powder. By 2003, the Freedonia Group, Cleveland, OH, predicts the U.S. powder coatings industry will be valued at $1.3 billion. With the increase in demand for powder coatings, companies are seeing an increase in the price per pound for powder coatings from $2.62 in 1998 to $3.17 in 2008, according to the Freedonia Group.
The global powder coatings market is also very strong. Frost and Sullivan, Mountain View, CA, estimates the powder coatings market to be five to six percent of the worldwide paint and coatings market. Worldwide sales of thermoset powder coatings for 1998 rose 6.4% over 1997,
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