Wood Coatings Market Size, Share, Qualitative Research and Competitive Strategy;kzo Nobel NV, The Sherwin-Williams Company, PPG Industries, Inc., Kansai Nerolac Paints Limited, Jotun, Hempel A/S, DowDuPont, Inc

Wood Coatings market 2019 Industry Report provides detailed market segment level data on the international market. This market report addresses forecast and growth patterns by company, regions and type or application from 2019 to 2023. Besides this, report also consists of development trends, competitive landscape analysis, and development in key regions status.

Wood Coatings Market Synopsis-
The global wood coating market has seen a positive growth over the past few years and as per MRFR analysis, the global market will experience the same growth during the forecast period. Since decade, the demand for residential properties has been substantially increased due to the rising population, increase per capita income, and growing middle class segment. Additionally, the construction has been increased with a span of period and the rising demand for furniture which results in the growth of wood coating market

Receive a Sample Copy of this Report :- https://www.marketresearchfuture.com/sample_request/1619

Competitive Dashboard

Akzo Nobel NV, The Sherwin-Williams Company, PPG Industries, Inc., Kansai Nerolac Paints Limited, Jotun, Hempel A/S, DowDuPont, Inc., Arkema SA, PRM International, INC., Nippon Paint Holdings Co., Ltd, Axalta Coating Systems Ltd, Asian Paints, Berger Paints India Limited.

Global Market for Wood Coatings-Segmental Analysis:

The report offers a thorough segmental analysis of the global wood coatings markets on the basis of type, technology, resin, application and end use. Based on type, the market has been segmented into stains & varnishes, water repellents, wood preservatives, shellac coatings, and others. The stains and varnishes segment currently holds the leading position. In 2017, the segment accounted for more than 40% share of the market. Demand for stain and varnish coating is projected to remain strong throughout the assessment period. Among others, the wood preservatives segment holds high potentials.

Based on technology, the market has been segmented into solvent based, UV curing, high solid solvent-based, and water based. Of these, the solvent based technology held the largest share of the market in 2017 and trend in expected to continue in 2018 and beyond. By the year 2023, nearly 1670.2 thousand tons of solvent based wood coatings are expected to be shipped globally. Solvents offer the best gloss finish, which makes them a sought-after coating technology.

Based on resin, the market has been segmented into polyurethane, nitrocellulose, acrylic, polyester and others. The polyurethane segment is expected to remain high lucrative over 2023. During the forecast period, the segment is expected to exhibit an impressive CAGR of 5.83%. Polyurethane resins are versatile and adheres to prerequisites of surface coating and thereby is commonly used for coating surfaces subject to a high level of wear and tear. In addition, polyurethane resins are long-lasting which is a major positive.

Based on application, the market has been segmented into furniture, flooring and decking, cabinets, sidings,and others (toys, sporting goods, and musical instruments). The furniture segment commands for the largest market share and is project to surge at 5.97% CAGR during the review period.

The segment is expected to surpass the valuation USD 6900 Mn by 2023-end. Based on end-use, the market has been segmented into residential and non-residential. The residential segment will continue to outperform the non-residential segment during the assessment period. Residential construction includes new construction and repair and renovation activities. On the back of rising discretionary spending and rapid urbanization, residential construction is expected to further increase in the forthcoming years

Regional Outlook

The global analysis of wood coatings market covers five key regions, which include North America, Europe, Asia Pacific (APAC), Latin America, and the Middle East & Africa. The booming economy in the region, makes Asia Pacific the most profitable market for wood coatings. APAC accounted for the largest share of the global market. Emerging markets in the region present massive growth opportunities to market players. By 2023, the region’s market is expected to stand at a USD 6400 Mn. Europe and North America are the other two significant markets for wood coatings after APAC. Sales in these regions will remain concentrated in renovation and remodelling activities.

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

Contact:
Market Research Future
Office No. 528, Amanora Chambers
Magarpatta Road, Hadapsar,
Pune - 411028
Maharashtra, India
+1 646 845 9312
Email: sales@marketresearchfuture.com

This release was published on openPR.