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News Release from: Frost and Sullivan
Edited by the Manufacturingtalk Editorial
Team on 13 December 2006
Radcure coatings market may change
Original applications in the European radiation curable (radcure) coatings market are reaching saturation point, however, novel applications and new markets will sustain market growth.
Original applications in the European radiation curable (radcure) coatings market are reaching saturation point However, novel applications and new markets will sustain market growth
This article was originally published on Manufacturingtalk on 28 Apr 2004 at 8.00am (UK)
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In particular, radcure coatings for plastics and the automotive refinish industry will offer the highest potential for growth.
Frost and Sullivan (http://www.chemicalsandmaterials.frost.com) finds that European Market for Radiation Curable Coatings earned revenues of EUR 799.6 million in 2005 and estimates this to reach EUR 1.1 billion in 2012.
"New applications must be developed to maintain high growth in the European radcure coatings market," noted Frost and Sullivan Research Analyst Dr Elizabeth Duplock.
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"Henceforth, coatings formulators will need to focus on premium applications of radcure technology in order to maintain margins." With some applications of radcure products reaching saturation point, the importance of emerging end-user market is even more vital.
To maximise on opportunities, market participants will need to focus on developing new applications, particularly for areas where penetration of radcure products is low, but growth potential is high.
The market for coatings on plastics and the automotive market offer optimum growth prospects through 2012.
However, the development of new products will be difficult.
A shift in customer base to cheaper global regions has restrained growth in some markets.
Moreover, an increase in raw materials prices implies reduction in margins for coatings formulators.
This reduces available capital for RandD.
Collaboration along the supply chain is essential for cost-effective development.
"With numerous maturing markets, it is important to strategically focus on products as early in their life cycle as possible to generate maximum revenues prior to market saturation," explains Dr Duplock.
"For the radcure coatings market, superior performance combined with improved productivity is one of the best ways to distinguish products over alternative technologies." To succeed, radcure coating formulators need to offer superior customer service and bespoke formulations.
They need to be first to market with new products, offering exceptional performance to gain market share in emerging applications.
The European Market for Radiation Curable Coatings is part of the Chemical and Materials Subscription, which also includes research in the following markets: European Wood Coatings, Eastern European Industrial Coatings, and European Pressure Sensitive Adhesives.
All research included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants.
* European Market for Radiation Curable Coatings Code: B919- 39.
* About Frost and Sullivan - Frost and Sullivan, a global growth consulting company, has been partnering with clients to support the development of innovative strategies for more than 40 years.
The company's industry expertise integrates growth consulting, growth partnership services, and corporate management training to identify and develop opportunities.
Frost and Sullivan serves an extensive clientele that includes Global 1000 companies, emerging companies, and the investment community, by providing comprehensive industry coverage that reflects a unique global perspective and combines ongoing analysis of markets, technologies, econometrics, and demographics.
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