Report Says Radiation-Cured and Powder Coatings to Lead Growth of U.S. Paint Industry
MANCHESTER CENTER, Vt. - Impact Marketing Consultants predicts that certain sectors of the U.S. paint industry will grow at strong rates for the next several years. Overall, domestic consumption of all paint and coatings will grow by 4.5% annually in current dollars to 2008, reaching $20.1 billion, up from $16.1 billion in 2003. Unit volume is forecast to grow at 3% annually during this time, from 1,339 million gal to 1,555 million gal.
Impact Marketing Consultants further indicates that powder coatings and radiation-cured paints will grow substantially above the industry average as they continue to replace solventborne paints. Powders, with consumption of 390 million lb valued at $785 million in 2003, are forecast to grow by 5% annually for the next five years.