Wood Coating Market Revenue Growth Defined by Heightened Product Innovation with Key Players: Akzo Nobel N.V, BASF SE, Nippon Paint Holding Co., PPG Industries, Inc
According to a new report published by Allied Market Research, titled, Wood Coating Market by Material and Application: Global Opportunity Analysis and Industry Forecast, 2017-2023, the global wood coating market was valued at $7,850 million in 2016, and is projected to reach $11,880 million by 2023, growing at a CAGR of 6.3% from 2017 to 2023. The furniture segment accounted for more than 59% share of the global wood coating market in 2016.
Download Sample PDF Brochure at:
In 2016, Asia-Pacific and Europe collectively accounted for more than 83% of the global wood coating industry, in terms of value. Population in Asia-Pacific and Europe use wood for the construction of the houses. This in turn boosts the consumption of wood coatings. Furthermore, European Union economy experiences significant growth since the euro crisis due to the increase in tourism, growth in employment, promotion of fair trade policies with minimal tariff, increase in industrialization & urbanization, and others.
The major companies profiled in this report are Akzo Nobel N.V, BASF SE, Nippon Paint Holding Co., PPG Industries, Inc., RPM International Inc., The Sherwin Williams Company, The Dow Chemical Company, Valspar Corp., Benjamin Moore & Co., and Hempel A/S.
Wood coatings are used for protecting the wood as well as provide aesthetic looks. Wood coating produces hard surface topcoats and are considered to retain gloss, offer good color, deliver high performance, and resist abrasion from chemicals. Waterborne, solvent borne, and high solid materials are three major types of wood coating technologies used by the market players. Different technologies and various resin systems used in wood coating have their own set of advantages and disadvantages.
Based on resin type, the market is segmented into polyurethane, nitrocellulose, acrylic, unsaturated polyester, and others. The polyurethane segment is projected to be the most lucrative segment from 2017 to 2023 owing to the high-performance finish that preserves and improves natural wood. Furthermore, polyurethane wood coating strengthens the properties of wood products providing color and protection.
Do Purchase Enquiry at: https://www.alliedmarketresearch.com/purchase-enquiry/4672
Based on technology, the market is divided into waterborne, conventional solvent borne, high solid solvent borne, powder coating, radiation cured, and others. The waterborne wood coating segment is projected to be the most lucrative segment from 2017 to 2023 owing to low toxicity due to low VOCs content. Stringent policies are imposed by the government on the use of VOCs in paints and coatings, which boosts the growth of the waterborne wood coating segment in the market. However, the low drying rate and high price of waterborne coatings as compared to solvent borne wood coating are expected to hinder the market growth.
Based on end user, the market is classified into furniture, cabinet, siding, flooring, paneling, and others. The cabinet segment is estimated to grow at the highest CAGR during the forecast period. There is a boost in the demand for cabinets owing to the growth of the housing market. This in turn is anticipated to increase the demand for wood coatings used in cabinets. Furthermore, at present, the restoration of old cabinet fuels the requirement for wood coating.
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
5933 NE Win Sivers Drive
#205, Portland, OR 97220
Toll Free: +1-800-792-5285
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
This release was published on openPR.
Permanent link to this press release:
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Wood Coating Market Revenue Growth Defined by Heightened Product Innovation with Key Players: Akzo Nobel N.V, BASF SE, Nippon Paint Holding Co., PPG Industries, Inc here
News-ID: 1700597 • Views: 240
More Releases from Allied Market Research
North America Geogrid Market 2020 Segmentation, Demand, Growth, Trend, Opportuni …
According to the report published by Allied Market Research, the North America geogrid market generated $282.0 million in 2019, and is estimated to reach $408.25 million by 2027, registering a CAGR of 7.0% from 2020 to 2027. The report offers an extensive analysis of changing market dynamics, key winning strategies, business performance, major segments, and competitive scenarios. Surge in infrastructure development activities across the U.S. and Mexico and superior physical properties
Intravenous Immunoglobulin (IVIG) Market 2020 In-Depth Analysis of Industry Shar …
Global intravenous immunoglobulin market accounted for $8,995 million in 2017, and is projected to reach $15,964 million by 2025, registering a CAGR of 7.5% from 2018 to 2025. Immunoglobulin (Ig) is a plasma-derived product, which is obtained from the serum of healthy donors. The isolated plasma product is clinically treated and purified to Ig, which can be further used in the treatment of patients with antibody deficiency. Intravenous immunoglobulin (IVIG) finds
Asthma and COPD Drugs Market Is Expected to Witness a Steady Growth by 2026
"Asthma and COPD Drugs Market by Disease and Medication Class - Global Opportunity Analysis and Industry Forecasts, 2014-2022", projects that the global market for Asthma and COPD Drugs was valued at $38,960 million in 2015 and would reach $50,359 million by 2022, registering a CAGR of 3.7% from 2016 to 2022. Asthma segment dominated the market in 2015 and expected to continue its dominance throughout the forecast period. North America
Synthetic Biology Market in Global Industry by Top Companies, Type and Applicati …
Global Synthetic biology market is forecast to reach $38.7 billion by 2020, at a CAGR of 44.2% during the forecast period (2014 - 2020). Europe occupies largest share in the global market and would hold-on to its position throughout 2020. However, Asia Pacific is the fastest growing market with a CAGR of 46.4% from 2014 - 2020. Read Full Report @ https://www.alliedmarketresearch.com/synthetic-biology-market Synthetic biology is at a nascent stage and has recently
More Releases for Wood
Global Wood Waxes Market For Particleboard, Wood Coating, Lubrication
Latest industry research report on: Global Wood Waxes Market | Industry Size, Share, Research, Reviews, Analysis, Strategies, Demand, Growth, Segmentation, Parameters, Forecasts. In this report, the global Wood Waxes market is valued at USD XX million in 2016 and is expected to reach USD XX million by the end of 2022, growing at a CAGR of XX% between 2016 and 2022. In addition, drivers, restraints and opportunities, competitive landscape have also been
Innovative Wood Art Pet Furniture
The Catgroove pet sofa bed. The Catgroove is an oversized ultra-plush pet bed finely handcrafted from Grade 1 solid teak wood, featuring huge inward space for the lazy and sleepy needs of our cats. This bed also has a removable/washable cushion cover for easy cleaning. The finest finish one can find with such ease, with a comfy, high-loft, milled foam cushion, it boasts durable furniture grade construction. Comfortably fits pets
U.S. Wood Moldings, Wood Flooring, And Other Wood Millwork Products Market. Anal …
IndexBox has just published a new report "U.S. Wood Moldings, Wood Flooring, And Other Wood Millwork Products Market. Analysis And Forecast to 2025" ( http://www.indexbox.co.uk/store/us-wood-moldings-wood-flooring-and-other-wood-millwork-products-market-analysis-and-forecast-to-2020?utm_source=opr ). The report provides on a detailed analysis of the U.S. wood millwork product market. It indicates the latest data of the market size and volume, domestic production, exports and imports, price dynamics and turnover in the industry. In addition, the report contains insightful information
Cedar Wood Market 2017- Cedar Forest, Rivers Wood Products, Hy Mark Wood Product …
Apex Research, recently published a detailed market research study focused on the "Cedar Wood Market" across the global, regional and country level. The report provides 360° analysis of "Cedar Wood Market" from view of manufacturers, regions, product types and end industries. The research report analyses and provides the historical data along with current performance of the global Cedar Wood industry, and estimates the future trend of Cedar Wood market on
Wood Adhesives Market 2017 - 2026
Wood Adhesives Market Size, Research, Annalysis, Growth | Industry Report 2022 Market Research Report to It’s a Database. sample copy @ https://goo.gl/rQs0wV “The global wood adhesives market is projected to grow at a CAGR of 3.10% from 2016 to 2026” The global wood adhesives market is projected to reach USD 5.24 billion by 2026, at a CAGR of 3.10% from 2016 to 2026. Growth in this market is mainly attributed
Urbane Living: Reclaimed Wood Flooring
LONDON - 11 June, 2016: Urbane Living introduce a touch of timeless character to your home with Urbane Living's range of reclaimed wood flooring. Crafted from naturally-aged timber sourced from old barns, factories, schools and railway wagons, the repurposed nature of the wood makes reclaimed boards a highly sustainable and ethical flooring option. The longer the timber has matured, the harder and more stable the boards become, with years of exposure to