Soaring Demand for Wood Coatings Market
Posted by Jason Lee on September 20th, 2019
Wood coatings are widely used in the protection and refinement of wood or wood-made structures. Protecting the wooden surface helps increase their utilization properties. The use of wood coating also enhances the visual cues of the wooden object, thereby helping in marketing of the product. There are various types of wood coatings available in the market depending on the technology used to manufacture the wood coating. Strict environmental rules imposed by the government & other regulatory bodies has made manufacturers cut down on the use of VOCs in the production of wood coating.
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Surge in construction activities across the world drive the growth of the global wood coatings market. There is an increase in the demand for wood products owing to the high investments made for infrastructure development and urbanization in the developing countries. This boosts the growth of the market. Furthermore, recovery of global economy is anticipated to boost the global wood coatings market during the forecast period. However, volatile raw material prices and harmful impact of VOCs present in the coating restrict the market growth. Conversely, the advancement in coatings technology and growth in use of radiation cure coatings are anticipated to provide new opportunities for the key players.
The report segments the wood coatings market based on resin type, technology, end user, and region. Based on resin type, the market is divided into polyurethane, nitrocellulose, acrylics, unsaturated polyester, and others. Based on technology, the market is classified into waterborne, conventional solvent borne, high solid solvent borne, powder coating, radiation cured, and other. Based on end user, the market is categorized into furniture, cabinet, siding, flooring, paneling, and others. Based on region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players operating in the market include Akzo Nobel N.V, BASF SE, Nippon Paint Holding Co., PPG Industries, Inc., RPM International Inc., The Sherwin Williams Company, The Dow Chemical Company, Valspar Corp., Benjamin Moore & Co., and Hempel A/S.
- Porters Five Force’s analysis helps analyze the potential of buyers and suppliers and the competitive scenario of the industry for strategy building.
Key Market Segments
By Resin Type
By End User
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About the AuthorJason Lee
Joined: September 20th, 2019
Articles Posted: 305
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