While the first “paints” came from natural substances like charcoal, blood and berry juice, coatings are now comprised of a wide variety of highly stylized components using high-tech manufacturing processes. Most major enhancements in coatings manufacturing have taken place over the past 25 years. Spurred by these technological advancements, the market has evolved into one of the most diverse and important industries in the world. Coatings are now vital components in applications as varied as traffic marking, architectural, automotive and aluminum cans.
Though the global recession, which hit the new-housing market exceptionally hard, saw the coatings market stagnate in 2007 and 2008, the first signs of an economic rebound saw coatings revenues grow by 2.1% in 2009 to reach a worldwide value of $110.5 billion. With future growth, the industry’s worldwide value is expected to be $128.6 billion by 2014. Opportunities abound for coatings manufacturers both at home and abroad.