In general, higher value coatings that provide multiple functions, exhibit favorable environmental profiles, and are used in niche applications will experience the most rapid gains.
Development efforts will provide opportunities for most products to some degree, with fire-resistant, anti-wear and conformal coatings posting the fastest growth, according to the study. Demand for fire-resistant coatings, for example, will rise due to the greater use of more expensive intumescent coatings, which allow coated metal to be used in a range of building designs.
Corrosion control coatings, the dominant product within the protective coatings market, will achieve favorable gains due to improving outlooks in manufacturing and construction markets, the study reports. Corrosion damage to untreated surfaces can cost millions of dollars per year through work stoppage and product failure, among other factors. Growing awareness of these costs will bolster demand for corrosion control coatings.
To order the study, contact The Freedonia Group at 440-684-6900, e-mail pr@freedonia group.com, or visit www.freed oniagroup.com.