Wood Coatings Market Overview:-
Wood coatings is the process of refining the wooden surface while producing furniture. It has tremendous demand in broad application spectrum and is also available in numerous numbers of products types. The overall application scope of the wood coasting includes residential and non-residential application, wherein, the large numbers of application are driving demand for the wood coatings. Since the construction and infrastructure development was on the rise, demand for wood coatings is raised on great manner. On the other hand, rising number of investment in the residential projects as a result of favourable government regulation expected to drive global growth.
Top 10 Key Players Profiles:
- BASF SE
- Arkema SA
- Dow Chemical Companty
- Ashland Inc
- PPG industries
- Royal DSM
- Valspar Corporation
Wood Coatings Market- Competitive Landscape:-
Global coatings market consist of the established chemical industry payers such as BASE SE, Arklema SA, AkzoNobel , DuPont, Dow Chemical Company, Ashland Inc, PPG industries, Royal DSM, Valspar Corporation and others. For the years, growth in market is driven by the rising product innovation in the coatings industries, driven by the high capital spending by market players on R&D to develop new products. The degree of competition bserved among the key industry players is high due to the
Study Objectives of Wood Coatings Market
- To provide detailed analysis of the market structure along with forecast for the next 6 years of various segments and sub-segments of the Global Wood Coatings Market
- To provide insights about factors affecting the market growth
- To analyze the Global Wood Coatings Market based on various factors- price analysis, supply chain analysis, porters five force analysis etc.
- To provide historical and forecast revenue of the market segments and sub-segments with respect to four main geographies and their countries- North America, Europe, APAC, and Rest of the World (ROW)
- To provide country level analysis of the market with respect to the current market size and future prospective
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Growth Drivers & Restraints of Global Wood Coatings Market
Since decade, the demand for residential properties has been substantially increased due to the rising population, increase per capita income, and growing middle class segment. Additionally, the construction has been increased with a span of period and the rising demand for furniture which results in the growth of wood coating market. Wood furniture is an integral part of any residential as well as commercial construction, while wooden flooring is also becoming increasingly popular. Increase in demand for protective coatings has been another marked feature of the global wood coatings market since the last few years. Due to the well-funded research avenues in the wood coatings industry, highly effective wood protective coatings have been developed and are being marketed across the world.
Rising demand for longer lasting fittings has driven the demand for protective coatings, thereby indirectly driving the global wood coatings market. Moreover, DIY homeowners continue to drive the market for wood coatings. DIY is all about remodelling projects as they feel their house is an expression of personal style.
They take pride in their home and look for new and interesting products to beautify and protect their investments. Trend of wanting to bring indoor design elements to outdoor spaces is continually occurring in the market. This can be seen by homeowners bringing the open floor concepts outdoors with multicolour stained decks, special lighting, furniture, and even kitchens.
Regional Analysis of Global Wood Coatings Market:-
As far as market growth, APAC is expected to be the leading market followed by North America and Europe. Continual demand from the developed markets and increasing demand from emerging economies will continue to drive the wood coating market. The industry is witnessing a major shift of key market players from Europe and the U.S. to the emerging economies of Asia Pacific, comprising of China and India.
The North American decorative Wood Coatings Market place is primarily driven by a demand for exterior coatings, with decks and siding comprising the largest percentage of exterior substrates. According to a survey, half of the U.S. population have decks and most of them use their decks during the day and almost every other day
Industry/ Innovation/ Related News:-
February 22, 2018 – One of the major specialty material producer on the chemical industry Arkema SA announced the expansion of the coatings additive products. The expansion undertaken is of Palmer Holland’s North America distribution territory for the specific products including Orgasol® and Rilsan® D. These products are high-performance coating additives and are designed mainly for liquid and UV coatings. Impact of the expansion expected to encourage wood coatings sale in the coming years while catering the additional demand.
Jun 20, 2017 – BASF SE have invested USD 40 million in the expansion of automotive coatings. This investment has made at the Mexico and Ohio based plants in North America. They have increased basecoat capacity and electro coat emulsion capacity. The added production capacities expected to help BASF tooffer additional product offering in most of the established markets.
May 17, 2017 – Akzonobelhave invested the 2.5 million investment in performance coatings and has announced the coating production expansion at Indonesian based plant. Due to this investment and as per the proposal, the production capacity will be raise by 40%. One of the directed of the AkzoNovbel have revealed that, the investment is done to attain the increasing growth of the aesthetic coatings product demand. Added production capacity will be helping AkzoNobel product offering in the coatings industry.
November 23, 2017- Decorazzi Paints & Coatings an India based decorative paints manufacturer have expanded production capacity thereby investing of INR 5-10 cores. As of now, the company has a presence in limited states of the Indian market such as Maharashtra, Karnataka, Assam, Telangana, and the investment has made to expand the operations across the Indian market.
May 10, 2016 – Arkema SA, foremost producer of specialty material announced plans to build a new polyester powder resin manufacturing facility, which will be the first in India, on its existing resin platform in Navi Mumbai, Maharashtra.
Trends Observed during the study – Global Wood Coatings Market:-
Child proof Polymers for wooden furniture – specifically created an all-natural polyurethane that can be used to finish wooden furniture is solvent free, is based on vegetable oils contains 33% soy oil, resulting in a beautiful appearance, Offers a durable, child-safe finish, gives vintage mid-century furniture a new lease of life. Due to its relative rigidity and good chemical resistance, it perfectly protects furniture for years to come. As the solution is natural, it is renewable and sustainable for the environment.
Another trend that is making a huge impact on the Wood coating Market is – Water Seal introduced as an innovative formula to the exterior wood waterproofing and staining category with Penetrating Timber Oil. The new formula penetrates deep below the surface to reduce marring and visible scratches, making it ideal for any outdoor deck or patio. In addition to enhancing wood’s natural beauty, Penetrating Timber Oil provides year-round water damage protection and a coating that resists mildew and UV damage. This product can be applied with a paint pad, brush, roller or compression driven sprayer.
Full Report Description is Available@https://www.marketresearchfuture.com/reports/wood-coatings-market-1619
- Market Denomination- USD Million
- Base Year- 2017
- Forecast Period- From 2018 to 2023
- Wood Coatings manufacturers, suppliers & traders
- Coating associations (The American Coating Association, Canadian paint & Coating Association, India Paints & Coating Associations, The world paints & Coatings Industry Association )
- Raw Material suppliers, End users
- Research Institutes
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