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Wood Coatings Market Global Growth, Trends and Opportunities Analysis Report by 2020-2025
The report segments the market based on technology, resin type, end user, and region. Technologies employed in wood coating include waterborne, high solid solvent borne, conventional solvent-borne, radiation cured, powder coating, and others. End users include into furniture, cabinet, siding, flooring, paneling, and others. As the housing industry grows, the demand for cabinets will increase. The usage of resin types including polyurethane, nitrocellulose, acrylic, unsaturated polyester, and others play a crucial part in offering protection and improving appearance. Polyurethane has been used widely owing to high-performance finish and enhancement of the natural appearance of wood. Geographically, the market is further divided into North America, Europe, Asia-Pacific, and LAMEA. Huge population base in Europe and Asia-Pacific is responsible for giving a boost to the industry. North America region is also gaining traction with the regulatory scenario.
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The global wood coating market is driven by the growth of housing industry across the globe. In addition, the rise in urbanization has increased demand for wood products, thereby, increasing the demand for wood coating. On the other hand, volatility in prices of raw materials and harmful effects of volatile organic compounds (VOCs) restrict growth in the industry. Regulatory developments create new opportunities in the industry.
Recently, United States Environmental Protection Agency (EPA) proposed that there will be no change in the existing emission limits. This proposal has given relief to market players operating in the global wood coating industry as it provides the stability and uniformity in employing their techniques. EPA took this decision based on a residual risk and technology review conducted by its 2003 National Emissions Standards for Hazardous Air Pollutants (NESHAP) for facilities involved in a coating of wood products. There are few amendments such as the startup, shutdown, and malfunction (SSM) exemption has been removed from emissions limits, an addition of equation of a compliance demonstration, addition of an electronic reporting requirement, and incorporation by reference of voluntary American National Standards Institute (ANSI) and ASTM International test methods. The decision to make no changes in existing limits also implies that the authority found no cancer risks to people from the facilities.
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As this news gives relief to market players, there are few players which have launched innovative initiatives. The Sherwin Williams Company has launched an online inspiration tool that offers an access to the complete stock of high-resolution images of coated wood panels to designers. Introduced as the Virtual Panel Studio, a first-of-its-kind online library can be used as an inspiration for future projects. The images in the library can be saved, downloaded, and shared with collaborators. Joe Kujawski, global director of marketing, Sherwin-Williams Industrial Wood Coatings Division, outlined that the company is excited to become the pioneers in the industry to give an access to designers with the click of a button. Moreover, the collections are available for users to determine the latest trends in a coating and innovative coating technologies.
Key Benefits for wood coatings market:
►The wood coatings market analysis covers in-depth information of major industry participants
► Wood coatings market size has been analyzed across all regions
► Porter's five forces analysis helps to analyze the potential of buyers & suppliers and the competitive scenario of the industry for strategy building
► The report outlines the current wood coatings market trends and future scenario of the wood coatings market size from 2017 to 2025 to understand the prevailing opportunities and potential investment pockets. The market is forecasted for 2020-2025
► Major countries in the region have been mapped according to their individual revenue contribution to the regional market
► The key drivers, restraints, and wood coatings market opportunities and their detailed impact analyses are elucidated in the study
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Key Market Players:
► Akzo Nobel N.V
► Nippon Paint Holding Co
► BASF SE
► RPM International Inc
► PPG Industries, Inc
► Valspar Corp
► The Dow Chemical Company
► Benjamin Moore & Co
► Hempel A/S
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Automotive Refinish Coatings Market:
https://www.alliedmarketresearch.com/automotive-refinish-coatings-market
Powder Coatings Market: https://www.alliedmarketresearch.com/powder-coatings-market
Packaging Coatings Market: https://www.alliedmarketresearch.com/packaging-coatings-market
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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.
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