Wooden Coatings Market Driven By Increased Demand from Construction Industry
The need to protect the wood material surface from chemical attacks and other environmental impacts, the demand for wooden coatings is increasing, as per the findings of a recent business intelligence study from IndustryARC. The report has evaluated that the global wood coatings market value at $8,823 million as of 2018 and projected the opportunities to increment at a robust CAGR of 6.30% during the forecast period of 2019 to 2025.
The report is titled “Wood Coatings Market: By Formulation (Water Based, Solvent Based, Radiation Cured) Type of Coating/Finishes (Penetrating Finishes, Varnish, Lacquer, Others) End User Application (Food Packaging Industry, Infrastructure, Furniture, Others) & Geography – Forecast (2019 - 2025)." Wood coating protect the wood surface. Consumers mounting attention towards wood flooring is demanding wooden paints to provide wood floor finishes and shine.
Global Wooden Coatings Market: Leading Segments
APAC contributed the largest demand share in the global wooden coatings market at 30.76% in 2018, owing to the increasing urbanization and flourishing housing industry. Furthermore, the increase in new vendor’s entry in the market is anticipated to further stroke the growth in the region.
As per the study by the analyst of IndustryARC, use of wooden coatings in furniture and fixtures is a major application and it is estimated to grow with a CAGR of 5.30% through to 2025. The necessity of furniture and fixtures in residential and non-residential to furnish the area, and obligation to protect and maintain the wood products from any damage is enhancing the nascent market in the future.
· One of the most significant safety requirement in the residential and industrial sector is fire resistance. The innovation in coatings lead to developments in fire and heat resistant coatings and paints. The increasing demand for fireproof paints for both interior and the exterior wood coating is gaining huge traction from consumers in the wooden coatings market.
· The shifting demand from solvent wood coating paint to UV and waterborne coatings due to its better resistance, smooth surface finish and durability. The increase in demand for such coatings from end user industries is driving the growth of the wood coatings market.
· Many consumers nags about the foul odor after the paint and coating activity. The formulations of low odor paints is gaining enormous demands from almost all the industries.
· The use of volatile organic compounds (VOC) can cause health issues as this is a toxic chemical. Furthermore, VOC is main cause of indoor air pollution. U.S. Environmental Protection Agency stringent policies to reduce the use of VOC, manufacturers came up with innovations in wooden coatings with formaldehyde content and lower or no VOC. The VOC paints are gaining popularity in recent years that is driving the growth of the market.
· The features of wooden coatings such as protection of wood in humid weather as well as from termites attacks is expected to surge the demand for wood coatings market.
· Increase in disposable income, urbanization, construction sector and consumer’s inclination towards wood handicrafts is expected to surge the demand for wooden paints and coatings. The rise in demand for the wooden product is anticipated to grow the wood coatings market value.
Global Wooden Coatings Market: Competitive Landscape
Some of the major players in the wooden coatings market are Akzonobel N.V., Sherwin Williams, PPG Industries, Nippon Paint Holdings, Axalta, RPM International, Kelly-Moore Paint Company Inc., Vermont Natural Coatings Inc, Weilburger Coatings GmbH, and Sniezka S.A.
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What can you expect from the report?
The wooden coating market is prepared with the main agenda to cover the following 20 points:
1. Market Size by Product Categories & Application 11. Demand Analysis (Revenue & Volume)
2. Market trends & Relevant Market Data 12. Country level Analysis
3. Manufacturer Landscape 13. Competitor Analysis
4. Distributor Landscape 14. Market Shares Analysis
5. Pricing Analysis 15. Value Chain Analysis
6. Top 10 End user Analysis 16. Supply Chain Analysis
7. Product Benchmarking 17. Strategic Analysis
8. Product Developments 18. Current & Future Market Landscape Analysis
9. Mergers & Acquisition Analysis 19. Opportunity Analysis
10. Patent Analysis 20. Revenue and Volume Analysis
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