Wood coating is widely used in the protection and refinement of wood or wood made structures. It helps in increasing the product life. Moreover, the use of wood coating enhances the visual cues of wooden object, thereby helping in marketing of the product. Based on technology, the market is segmented into waterborne, conventional solid solvent borne, high solid solvent borne, powder coating, radiation cured and others. The conventional solid solvent borne coatings have higher demand owing to the low price and quick drying characteristics. The global wood coatings market was valued at $7,800.0 million in 2018, and is projected to reach $11,985.8 million by 2025, growing at a CAGR of 6.3% from 2020 to 2025.
Increase in disposable income of consumers and improvement in standard of living in developing economies such as India and China are the key factors are fueling the demand for modern furniture, which in turn is expected to drive the demand for wood coatings. In addition, as the housing and real estate market is witnessing significant growth which is positively affecting the demand for joinery. Joinery includes cabinets and sidings. These factors are positively impacting the market growth.
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However, factors such as stringent environmental rules imposed by the government & other regulatory bodies on the use of volatile organic compounds (VOC) in the production of wood coating hamper the growth of the wood coatings market. This is attributed to the fact that increased use of VOCs in the production of wood coatings has harmful impact on environment. In addition, volatile raw material prices hinders the wood coatings market growth. On the other hand, advancement in coatings technology and surge in use of radiation cure coatings are some of the factors that provide lucrative opportunities in the wood coating market.
wood coatings Key Market Segments:
By Resin Type
Polyurethane
Acrylics
Nitrocellulose
Unsaturated Polyester
Others
By Technology
Waterborne
Conventional Solid Solvent Borne
High Solid Solvent Borne
Powder Coating
Radiation Cured
Others
By End Use
Furniture
Joinery
Flooring
Others
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The wood coatings market is segmented based on resin type, technology, end use, and region. Depending on resin type, the market is classified into polyurethane, nitrocellulose, acrylic, unsaturated polyester, and others. By technology, it is fragmented into waterborne, solvent borne, high solid solvent borne, powder coating, radiation cured, and others. As per end use, it is segregated into furniture, joinery, flooring, and others. The wood coating market is segmented based on region including North America (U.S., Canada, Mexico), Europe (UK, Germany, France, Italy, Spain, Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Australia, Rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, Rest of LAMEA).
The major key players operating in the wood coatings industry include Akzo Nobel N.V., Axalta Coatings Systems, BASF SE, DowDuPont, Eastman Chemical Company, Kansai Paint Co., Ltd., Nippon Paints Holdings Co. Ltd., PPG Industries Inc., RPM International Inc., and Sherwin Williams Company. Other players operating in this market include Ashland Inc., Arkema SA, Hempel A/S, and ICI Paints. These major key players are adopting different strategies such as acquisition, business expansion, and collaboration to stay competitive in the global market.
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Global Wood Coating Market was valued at US$ 1.5Bn in 2017 and is expected to reach US$ 2.5Bn by 2026, at a CAGR of 6.59% during a forecast period.
Moreover, stringent regulation imposed by regulatory authorities towards the emission of VOC and other hazardous products is fueling penetration of eco-friendly wood coating market growth.
However, the presence of cheaper alternatives is expected to restrain the market growth.
Properly managed and highly sustained home adds the value of the home and saves money in the long term.
On the basis of coating type, stains & varnishes segment is dominating the market for wood coating.
Wood coatings are mostly used in the exteriors and interiors in the furniture industry majorly owing to the finishing it provides to the furniture products.
It helps in increasing the product life.
The global wood coatings market was valued at $7,800.0 million in 2018, and is projected to reach $11,985.8 million by 2025, growing at a CAGR of 6.3% from 2020 to 2025.Increase in disposable income of consumers and improvement in standard of living in developing economies such as India and China are the key factors are fueling the demand for modern furniture, which in turn is expected to drive the demand for wood coatings.
These factors are positively impacting the market growth.Get More Information about : http://www.marketgrowthanalysis.com/reports/sample/208However, factors such as stringent environmental rules imposed by the government & other regulatory bodies on the use of volatile organic compounds (VOC) in the production of wood coating hamper the growth of the wood coatings market.
On the other hand, advancement in coatings technology and surge in use of radiation cure coatings are some of the factors that provide lucrative opportunities in the wood coating market.wood coatings Key Market Segments:By Resin TypePolyurethaneAcrylicsNitrocelluloseUnsaturated PolyesterOthersBy TechnologyWaterborneConventional Solid Solvent BorneHigh Solid Solvent BornePowder CoatingRadiation CuredOthersBy End UseFurnitureJoineryFlooringOthersRequest for Table of Contents: http://www.marketgrowthanalysis.com/reports/toc/208The wood coatings market is segmented based on resin type, technology, end use, and region.
The wood coating market is segmented based on region including North America (U.S., Canada, Mexico), Europe (UK, Germany, France, Italy, Spain, Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Australia, Rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, Rest of LAMEA).The major key players operating in the wood coatings industry include Akzo Nobel N.V., Axalta Coatings Systems, BASF SE, DowDuPont, Eastman Chemical Company, Kansai Paint Co., Ltd., Nippon Paints Holdings Co. Ltd., PPG Industries Inc., RPM International Inc., and Sherwin Williams Company.
These major key players are adopting different strategies such as acquisition, business expansion, and collaboration to stay competitive in the global market.Report Description: http://www.marketgrowthanalysis.com/wood-coating-marketAbout Us:Market Growth Analysis is one of the leading digital services provider and a result-oriented company based in Canada.
Players, stakeholders, and other participants in the global Wood Coating market will be able to gain the upper hand as they use the report as a powerful resource.
The segmental analysis focuses on sales, revenue and forecast by region, by country, company, type, application and by sales channels for the period 2016-2027.Download FREE Sample of this Report @ https://www.24chemicalresearch.com/download-sample/99766/global-wood-coating-2021-2027-337 Wood Coating is coating for wood products, widely used in furniture, doors, windows, floors, wainscoting, wooden musical instruments, sporting goods, stationery, toys, and etc.
Global Wood Coating key players include Valspar, Akzo Nobel, Nippon, PPG, Henkel, etc.
Segment by Type, the Wood Coating market is segmented into CuringSolvent Segment by Application, the Wood Coating market is segmented into Wooden FurnitureIndoor DecorationWood FloorWooden ToysWooden OutdoorOthers Regional and Country-level Analysis: North AmericaUnited StatesCanadaAsia-PacificChinaJapanSouth KoreaIndiaSoutheast AsiaAustraliaRest of Asia-PacificEuropeGermanyFranceU.K.ItalyRussiaNordic CountriesRest of EuropeLatin AmericaMexicoBrazilRest of Latin AmericaMiddle East & AfricaTurkeySaudi ArabiaUAERest of MEA Competitive Landscape and Wood Coating Market Share AnalysisWood Coating market competitive landscape provides details and data information by companies.
The major companies include: Akzo NobelPPG Industrial CoatingsNippon PaintValspar CorporationSherwin WilliamsSan Marco GroupRPM IncBrilluxTikkurilaHenkelDiamond Vogel PaintKansai PaintBasfCraig and RoseDuPontMeffert AGTaihog GroupSacalHempelCarpoly ChemicalYip's ChemicalZhanchen CoatingChina paintsGuangdong Junedos Building MaterialsSanKeShuJunZiLan coating groupGuangdong BadeseHebei Chenyang Industry and Trade GroupSanxia PaintingGuangdong Huilong Reasons to Purchase Our Research Report:1.
Analyzing the outlook of the market with the recent trends and SWOT analysis2.
