According to this analysis, the global wood coatings market is predicted to grow at a CAGR of 6.46% for the forecasting period 2019-2027. In terms of volume, the market is expected to grow at a CAGR of 5.92%.
The rise in the disposable income of consumers, growth in the construction activities, and advanced living standards in developing economies drive the overall growth of the wood coatings market. Wood coatings are extensively used for the refinement and protection of wood and wooden structures. The solid solvent-borne coatings have huge demand due to their quick-drying characteristics and low cost. Furthermore, the growth in the real estate and housing market has been surging the demand for wooden architecture. The use of wood coatings helps in increasing the utilization properties of wooden surfaces and enhances the visual cues of wooden items. This would contribute to the growth of the wood coatings market.
An increase in the volatile raw materials and fluctuating raw material prices are some of the market restraints faced by the wooden coatings market. Moreover, an increase in crude oil prices, labor costs, and the demand-supply gap lead to the high cost of wood coatings. The market has ample growth opportunities in terms of radiation cure coatings and technological advancements. However, rigid environmental policies are a challenge faced by the market.
The regions of North America, Europe, the Asia-Pacific, Latin America, and the Middle East and Africa are covered in the global market for wood coatings. Due to emerging application sectors like furniture, flooring, joineries, and others, the Asia-Pacific wood coatings market is anticipated to acquire the market share by the year 2027. Furthermore, a rapid increase in disposable income and significant investment in infrastructure and urbanization boost the growth of the Asia-Pacific wood coatings market.
- Axalta Coating Systems
- Akzo Nobel N.V.
- Benjamin Moore & Co.
- Nippon Paint Holdings Co., Ltd.
- Basf Se
- Rpm International Inc.
- Kapci Coatings
- Eastman Chemical Company
- Helios Coatings Inc
- Dowdupont Inc.
- Ppg Industries, Inc.
- The Sherwin-Williams Company
- Ica Gruppen Ab (Ica)
- Kansai Paint Co., Ltd.
Key Topics Covered:
1. Global Wood Coatings Market - Summary
2. Industry Outlook
2.1. Market Definition
2.2. Porter's Five Forces Model
2.3. Value Chain Outlook
2.4. Regulatory Outlook
2.5. Market Position Outlook
2.6. Patent Outlook
2.7. Key Insights
2.8. Market Attractiveness Index
2.9. Market Drivers
2.9.1. Rise in the Disposable Income of Consumers
2.9.2. Growth in the Construction Activities
2.10. Market Restraints
2.10.1. Rise in the Volatile Materials
2.10.2. Changing Raw Material Prices
2.11. Market Opportunities
2.11.1. Opportunities in Radiation Cure Coatings
2.11.2. Technological Advancements
2.12. Market Challenges
2.12.1. Stringent Regulations Related to the Environment
3. Wood Coatings Market Outlook - By Resin Type
3.4. Unsaturated Polyester
3.5. Other Resin Type
4. Wood Coatings Market Outlook - By Technology
4.2. Conventional Solvent-Borne
4.3. High Solid Solvent-Borne
4.4. Powder Coating
4.6. Other Technology
5. Wood Coatings Market Outlook - By Application
5.4. Other Application
6. Wood Coatings Market - Regional Outlook
6.1. North America
6.4. Latin America
6.5. Middle East and Africa
7. Company Profiles
8. Research Methodology & Scope
8.1. Research Scope & Deliverables
8.1.1. Objectives of Study
8.1.2. Scope of Study
8.2. Sources of Data
8.2.1. Primary Data Sources
8.2.2. Secondary Data Sources
8.3. Research Methodology
8.3.1. Evaluation of Proposed Market
8.3.2. Identification of Data Sources
8.3.3. Assessment of Market Determinants
8.3.4. Data Collection
8.3.5. Data Validation & Analysis
For more information about this report visit https://www.researchandmarkets.com/r/3eyhww