LEATHERHEAD, UK – The global market for functional and barrier coatings for paper and board was valued at $3,778 million in 2007, growing at 3.1 percent, and is expected to reach $4,561 million by 2014. Opportunities in the market are emerging in a number of high-growth regions and end-use sectors, according to a new study by Pira International.
According to the study, growth will be negative in many parts of the developed world in 2009 and into 2010, becoming positive again towards the end of that year. In the emerging economies of Eastern Europe and Asia, recent exceptional growth rates will fall in 2009 and 2010, but growth will again climb in late 2010 to 2014. However, this growth will not reach the same levels as has been seen in recent years. The effect of these emerging economies lifts the global market for functional and barrier coatings, providing a modest growth of 2.7 percent compound annual growth rate to 2014, when the market will be worth $4,561 million.
The report predicts the slowest growth will be in the largest market, North America, at 0.2 percent. In contrast, with gross domestic product growth of over 10 percent in China, the Asian functional and barrier coatings market has seen double-digit annual growth. Central and Eastern Europe have also seen double-digit growth in recent years, and although growth to 2014 is expected to be less than Asia, this is still predicted to be an exciting market.
Demand for Functional and Barrier Coatings to Grow
October 1, 2009