The global market for functional and barrier coatings for paper and board grew 3.1% in 2007, to US$3,778 million, and is expected to reach US$4,561 million by 2014. According to a new Pira study - The Future of Functional and Barrier Coatings for Paper and Board - opportunities are emerging in a number of high growth regions and end use sectors.
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 will climb again in late 2010 to 2014. This growth will not reach the same levels as has been seen in recent years however.
The effect of these emerging economies lifts the global market for functional and barrier coating, to permit modest growth of 2.7% CAGR to 2014, when the market will be worth $4,561 million.
The fastest growing sector over recent years, says Pira, has been the pharmaceutical and healthcare market. Here although sales of barrier coatings for paper and board are small, the growth figures exceed the overall market. This is as a result of growth in demand for a whole range of healthcare products, a generally aging population in both the developed world and in China, and an increasing interest in health and well-being.
The report predicts the slowest growth will be in the largest market, North America at 0.2%. In contrast, with GDP growth of over 10% in China, the Asian functional and barrier coating market has seen double digit annual growth. Central and Eastern Europe has also seen double digit growth in recent years, but according to the report, its proximity to Western Europe will affect performance in the immediate future. Despite this, internal consumption is growing substantially, and so although growth to 2014 is expected to be less than Asia, this is still predicted to be an exciting market.
The Pira study also examines a range of technical developments in the sector, including biotechnology, curtain coating, nanotechnology, and water based barrier coatings and fluorochemicals.
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