Wood Coatings Market Set To Expand And Reach USD 2,229.45 Million by 2022

12-Oct-2018 | Zion Market Research

The major companies in the global wood coatings market are Kansai Paint Co. Ltd., Akzo Nobel Coatings NV, BASF Coatings AG, Ashland Inc., Hempel A/S, Sherwin-Williams Co., Arkema SA, PPG Industries Inc., ICI Paints, The Valspar Corporation, Dow Coating Materials, Nippon Paint Co. Ltd., and RPM International Inc. among others. These players are set to drive the global wood coatings market.

According to the experts at Zion Market Research, global wood coatings market was capitalized at USD 1,554.0 Million in 2016. The global wood coatings market is likely to cross USD 2,229.45 Million by end of 2022, developing at a CAGR of 5.2% from 2017 to 2022.

 Browse the full " Wood Coatings Market (Acrylics, Polyurethane, Nitrocellulose, Melamine Formaldehyde and Others) for Cabinets, Side & Deck, Furniture and Other Applications: Global Industry Perspective, Comprehensive Analysis, and Forecast, 2016 – 2022 " report at  https://www.zionmarketresearch.com/report/wood-coatings-market

Huge Demand From Emerging Economies To Power The Global Wood Coatings Market

The global wood coating market is boosted by different factors such as huge demand from emerging economies. The global wood coatings market is also power by huge requirement for medium density fireboard (MDF) wood. In addition to this, augmented awareness for eco-friendly goods is set to bolster the global wood coatings market. On the other hand, global wood coatings market has certain disadvantages, such as the stringent government regulations and higher raw material prices. These factors might act as a hindering factor to the wood coatings market growth.

Nevertheless, rising requirement for low-VOC (volatile organic compound) wood and the surfacing of new technologies & product developments are major opportunities for the wood coating market. In addition to this, various M&A by major players are set to power the development of global wood coatings market. For example, in April 2017, Teknos concluded the acquirement of Schekolin AG and Feyco Treffert (a firm expert in wood coatings). The acquirement is likely to offer Teknos with access to latest markets in Malaysia, Switzerland, and the U.S. This is also set to strengthen its position in the global wood market.


Polyurethane To Rule The Global Wood Coatings Market In The Years To Come

Based on of the type by resin, the global market is classified into polyurethane, acrylics, melamine formaldehyde, and nitrocellulose. Polyurethane held the biggest share of almost 40% in 2016 in global wood coatings market, because of their characteristics of humidity & scratch resistance. In addition to this, ability to retain light color and its non-yellowing property is also responsible for this. Acrylics grabbed second biggest share in 2016 in the global wood coatings market, chased by melamine formaldehyde and others. Acrylic coatings are normally employed for both industrial & artisanal cycles on various kinds of wooden goods. Acrylics are mostly suggested for clear or dyed open-pore cycles to obtain the unfinished wood effect or natural effect for wood, boosting the global wood coatings market.

The global wood coatings market is segmented as follows:

By Resin 

  • Acrylics
  • Polyurethane
  • Nitrocellulose
  • Melamine Formaldehyde
  • Others

By Application 

  • Cabinets
  • Side & Deck
  • Furniture
  • Others

By Region

  • North America
    • U.S.
  • Europe
    • UK
    • France
    • Germany
  • Asia Pacific
    • China
    • Japan
    • India
  • Latin America
    • Brazil
  • Middle East and Africa

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