Zion Market Research, the market research group announced the analysis report titled ‘Wood Coatings Market: Industry Perspective, Comprehensive Analysis, and Forecast, 2015 – 2021’
The wood coating is the process in which layer of chemicals and the protective solution is applied on the wooden surface in order to make the surface durable and enhance its exterior. The wood coating process is a crucial part in furniture industries. It helps to balance customer satisfaction and guarantees constant demand. Wooden finishing is also seen as a status symbol in day-to-day life. The coating is a type of finishing process and streamlined at the end-position. It makes the surface clean effortlessly.
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On the basis of various types of the mechanism used, the global wood coatings market is segmented as brush coating, vacuum coating, spray coating, and roll coating. Based on the type of wood coating, the global market is segmented as evaporative, reactive and coalescing. On the basis of material used, the global market is segmented as primers, wax, dye, varnishes, and water repellents. Further, based on the technology, the global market is classified as solvent-borne, water-borne, radiation-cure, and powder coatings. The global wood coatings market is also segmented on the basis of application as furniture, siding, decking, joinery, flooring, and other applications such as fencing, flat panels, and MDF.
Rising population results in extensive urbanization across the world. This, in turn, is leading the demand of constructing residences, which increases the demand for wooden accessories. In addition, increasing disposable income of the customers has boosted the demand. Rising demand for protective coatings has been a noticeable feature of the global wood coatings market. Well-equipped infrastructure as a sign of high standard of living has also increased the demand. A major focus of manufacturers on the consumers need is also a factor augmenting the growth of the wood coating market. Constant development of commercial projects such business hubs, hospitals, etc. demands various types of premium wooden fittings for the interior, which is directly impacting the wood coatings market positively. The availability of quality and cheaper alternatives such as plastic wood and wood composite will probably hinder the growth of the wood coatings market.
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Asia-Pacific is the biggest market for wood coatings followed by Europe and North America. The wood coatings market in Asia-Pacific is anticipated to grow at the highest rate owing to the rising disposable income and construction projects in this region. Rising GDP of countries such as India, China, and Brazil has led an increase in the market.
Some of the major players in the wood coatings market include Akzo Nobel Coatings NV, Kansai Paint Co. Ltd., ICI Paints, Sherwin-Williams Co., DuPont Coatings, and Color Technologies Group. Other key players influencing the global market are PPG Industries Inc., Dow Coating Materials, BASF Coatings AG, Hempel A/S, Ashland Inc., RPM International Inc., The Valspar Corporation, and Arkema SA, Nippon Paint Co. Ltd.
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Wood Coatings Market by Regional Analysis: North America( U.S.), Europe( UK, France, Germany), Asia-Pacific (China, Japan, India), Latin America( Brazil), Middle East and Africa
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