As we enter a new century, the demand for architectural coatings has not shown any signs of slowing down. Between the many new products introduced over the past year, and promises of more introductions during the year ahead, architectural coatings will continue to dominate the overall coatings industry.
According to Market Tracking International (MTI), London, 12,023,000 tons of architectural paint were produced globally in 1998 (see map, pg. 38 in the print edition). In the U.S., manufacturers sales of architectural paint totaled $6.1 billion in 1997, accounting for 37% of the total U.S. coatings market, according to Business Trend Analysts (BTA), Commack, NY. BTA estimates that the U.S. architectural coatings market will grow at a rate of 2.5% per year to reach $7.8 billion in 2007.
Keeping Things Fresh With growth levels remaining in the single digits in the U.S. architectural market, it is more important than ever for manufacturers to hold onto current customers, and attracting new ones, by keeping shelves well-stocked with products that keep buyers coming back for more.
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