Global Wood Coatings Market
The GMI Research forecasts that the Wood Coatings Market is witnessing an upsurge in demand over the forecast period. This is mainly due to the increase in disposable income of consumers and improvement in the standard of living in developing economies.
Introduction of the Wood Coatings Market:
The wood coating is extensively used in the prevention and refinement of wood or wood-made structures. It helps to raise the product life. Moreover, their use enhances the visual cues of a wooden object, thereby promoting the market of the product.
Key Players of the Global Wood Coatings Market:
- Nippon Paint Co. Ltd.
- PPG Industries, Inc.
- RPM International Inc.
- The Valspar Corporation
- BASF SE
- Akzo Nobel N.V.
- Ashland Global Holdings Inc.
- The Dow Chemical Company
- Hempel A/S
- The Sherwin-Williams Company
Wood Coatings Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
Growth in the wood coatings market is primarily driven by the enhancement in the standard of living across several emerging economies such as China and India, led by the accelerating disposable income of consumers, growing urban population, surging demand for sophisticated wood coatings materials, which include bio-based resins, biopolymers, and UV cured coatings from the furniture industry. In addition, the residential and commercial buildings are expected to witness a significant demand mainly due to the expansion in the construction sector, which in turn will strengthen the wood coatings market size. The introduction of novel technologies, the development of reflective coatings, and the launch of environment-friendly materials such as green wood coating will proffer enormous lucrative opportunities for market growth. Also, the modernizations in coatings technology and the escalation in the employment of radiation cure coatings will propel the wood coatings market share.
Furthermore, various properties, including improved visual cues of wooden objects, resilience from moisture and heat, raised durability, and easy maintenance, further stimulated the market growth. However, rigorous environmental rules invaded by the government and regulatory authorities on the implementation of volatile organic compounds (VOC) during the production process because of their adverse impact on the environment and unstable prices of raw materials are the major factors hindering the market growth.
Wood Coatings Market Segmentation:
Segmentation by Resin Type
- Acrylic
- Nitrocellulose
- Polyester
- Polyurethane
- Others
Segmentation by Technology
- Water-borne
- Solvent-borne
- UV-cured
Segmentation by Application
- Furniture and Fixture
- Doors and Windows
- Cabinet
- Others
Segmentation by Region:
- North America
- United States of America
- Canada
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Rest of the world (remaining countries of the LAMEA region)
About GMI Research
GMI Research is a market research and consulting company that offers business sights and market research reports for every enterprise, including small & medium enterprises and large organizations. Our research team helps the clients to understand the impact of market dynamics such as market size, share, drivers, growth opportunities, and other aspects. We have a team of analysts and industry experts who conduct market intelligence studies to ensure relevant and fact-based research across a wide range of sectors such as FMCG, Technology, Energy, Healthcare, and other industries. We collect relevant information about the industry using both internal and external databases. Our main focus is to keep our clients abridged of the emerging opportunities and challenges in a wide range of industries. We provide step-by-step assistance to our client through strategic and consulting services to reach a managerial and actionable decision. Featured in the ‘Top 20 Most Promising Market Research Consultants’ list of Silicon India Magazine in 2018, we at GMI Research are always looking forward to helping businesses stay ahead of the curve.
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