In an industry that relies heavily on innovation for success, paint and coating manufacturers realize the importance of investing in new product development efforts. Those efforts have been frustrated for both coating and resins producers as high raw material prices and shortages of key ingredients have companies focused on finding alternatives. Where new product development activities remain strong, they generally are driven by anticipation of the passage of regulations that will affect current formulations. Meanwhile, the recovery appears to be slowing somewhat, and 2012 does not look to be a year of strong growth for the industry.
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