Citation
Bean, J. (2002), "Furniture manufacturers want innovative technology from coatings suppliers", Pigment & Resin Technology, Vol. 31 No. 4. https://doi.org/10.1108/prt.2002.12931daa.001
Publisher
:Emerald Group Publishing Limited
Copyright © 2002, MCB UP Limited
Furniture manufacturers want innovative technology from coatings suppliers
A recent report from international market analysts Frost & Sullivan reveals that European furniture manufacturers place more emphasis on technical performance of their coatings and the suppliers responsiveness to changing requirements than on prices. The study interviewed coatings customers throughout the European furniture industry and discovered how they choose suppliers and make purchasing decisions, their perceptions of coatings suppliers and how satisfied they are with the service of the leading suppliers.
Technical performance had the highest rating of importance for supplier selection, but the ability of coatings manufacturers to develop new and innovative solutions was currently seen as a weakness. Interestingly, over half of the customers interviewed use more than one supplier and review them on a regular basis.
Brian Balmer, research analyst at Frost & Sullivan, explains: "With trends relating to fashion and increasing technology, the onus is on the suppliers of coatings to keep up with the pace of this change. Companies who are best at responding to rapidly changing demands from their clients are most likely to increase their market share, either by attracting new clients or by helping their current clients to succeed."
The total European market for wooden furniture coatings is valued at $880 million in 2001, representing shipments of 283,000 tonnes. This accounts for approximately 70 per cent of the total industrial wood coatings market.
Although there is almost no growth in this market, there is a considerable change in the types of product being used. Environmentally friendly alternatives such as UV curable and waterborne systems are increasing in popularity, whilst acid-catalysed systems are gradually being replaced by compliant alternatives with higher solids contents and consequently lower VOC content. However, it is a consolidating market (a trend that is increasingly being viewed with caution by end-users) that is also subject to strong price pressure.
Website: www.chemicals.frost.com