There are many good artists out there who's passion is creating art inspired by Tolkien's work. And the reality is you will probably only see a small fraction of these artists make money or have the wide spread attention as their more 'famous' counterparts such as Alan Lee or John Howe receive.
DeviantART is a member driven site for artists of different mediums. On this site is one devoted to Tolkien. There are over 1000 artists belonging to this club and more are welcome to join them. It's quite a magnificent collection of work with diverse styles and all aspect of Tolkein's myths represented.
If you enjoy browsing through Tolkien inspired art from literally around the world don't miss the Tolkien Fan Community at DeviantART.