Global wood coatings market: Demand analysis
Wood coatings are coatings applied onto a wooden surface finding their use especially in the production of furniture where it typically represents 5 and 30% of the manufacturing costs. By the process of wood varnish, wooden surfaces attain enhanced appearance and increased resistance to moisture and other environmental agents such as bacteria. These wood floor finishes also make it easy to clean the surfaces and improves the hardness of the flooring. External wood coatings give low-value woods the appearance of ones that are expensive and difficult to obtain. Wood finishing, in short, offers the reliability of an effective curing agent with an added advantage of offering high resistivity. Radiation cure coatings, on the other hand, are a similar type of wood coatings in which UV energy, visible light or low energy electrons (EB) are used to form a coating as opposed to their thermal, evaporative or oxidative counterparts.
According to a recent PPG survey, 50 percent of U.S. respondents have decks and 96 percent of these respondents use their decks during the day and almost every other day. Another finding discusses that 47 percent of U.S. respondents agreed that they would prefer to do an exterior stain project themselves rather than letting the job be done by a professional. This data goes on to prove that as the furniture maintenance activities are becoming highly customizable in the form of clearance of furniture stains by hand, the performance of DIY projects and taking up of remodeling projects for the style. There is a definite need for wood coatings market and demand for wood coatings marketplace is increasing due to construction activities which also include regular maintenance activities.
Global wood coatings market worth over $9 billion in 2018
According to the analyst at IndustryARC, the global wood coatings market value stood at $8,823 million as of 2018. The market is projected to grow with a CAGR of 6.30% during the forecast period of 2019 to 2025, and the chief region where the marketplace displayed a great demand as of 2018 was APAC, encompassing 30.76% of the global demand. The chief application segment would be furniture and fixtures business with an application CAGR of 5.30% during the forecast period of 2019-2025. 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).”
Companies working in the field of global wood 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.
Wooden coatings are helping people customize their home according to their preferences. They are highly novel in approach and can resist environmental degradation of any sort opening up a lot of options for those who want to add a pinch of their own style onto the furniture in their homes.
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What can you expect from the report?
The wooden coatings market report is prepared with the main agenda to cover the following 20 points:
- Market Size by Product Categories & Application 11. Demand Analysis (Revenue & Volume)
- Market trends & Relevant Market Data 12. Country level Analysis
- Manufacturer Landscape 13. Competitor Analysis
- Distributor Landscape 14. Market Shares Analysis
- Pricing Analysis 15. Value Chain Analysis
- Top 10 End user Analysis 16. Supply Chain Analysis
- Product Benchmarking 17. Strategic Analysis
- Product Developments 18. Current & Future Market Landscape Analysis
- Mergers & Acquisition Analysis 19. Opportunity Analysis
- Patent Analysis 20. Revenue and Volume Analysis
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