The wood preservative coatings market in the U.S. is expected to be driven by the rise in the single family house building. Also, the consumers in the state are demanding engineered wood owing to its cost-effectiveness and reduction in the construction timelines. For instance, in April 2017, the University of Massachusetts Amherst (Umass) opened an engineered wood building, the first in the U.S. using a wood concrete floor system. The wood coatings, additives and adhesives play an important role in achieving the desired properties. It is expected that the wood structural systems for four-twelve story buildings would be dominant in the U.S., which will lead to an increasing demand for wood preservative coatings during the forecast period.
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In April 2017, Trump administration announced to impose a tariff of 20% on the soft woods which enter the U.S state from Canada. Earlier, the trade between U.S and Canada were easy and not strict. In 2016, according to the U.S Commerce Dept., imports of the soft wood were about US$ 5.7 Bn. However, the recent change in the trade affair between the two countries is expected to impose barrier to the consumption of wood preservative coatings. The consumers in the states would have to pay more in building or renovating their homes, owing to this tariff imposition. Hence, it is expected that the wood preservative coatings market in North America is expected to grow at a steady growth rate of 5.8% Y-o-Y till 2018, after which it is expected to fall.
The high solid technology involves less solvent use and more solids, which is currently a prominent trend in the North American wood coatings market. Also, the low odor and high durable coatings are more preferred by the consumers in North American wood preservative coatings market.
The trend of usage of water-borne coatings is significant in the North America wood preservative coatings markets. The increasing awareness among consumers about the usage of eco-friendly coating products is prevailing. Also, the UV wood coatings are being used for industrial applications owing to its fast curing and high production efficiency.
Global Wood Preservative Coatings Market: Segmental Forecast
Preservative coating type segment is further divided into the categories of water repellant, fire retardant and insect repellant, is expected to project a CAGR of 5.4% in terms of volume. In terms of value, fire retardant coating type segment is expected to project a CAGR of 6.0% during the forecast period. Stains, varnishes and shellacs, together account for 56% of the market share in coating type segment by 2017 end. Whereas, furniture segment is expected to decrease by 40 basis points in 2027 from 2017 to account for US$ 1,612.4 Mn by 2027 end.
The preservative coatings for the wood products are essential for increasing its life span. Among various preservatives, insect repellant is estimated to hold major share both in terms of value and volume owing to its inherent advantages of protection from decay. The borates, azoles, pentachlorophenol etc. type of insect preservatives dominate among others.
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The next section of the report includes analysis of the global wood preservative coatings market on the basis of region. The global wood preservative coatings market is segmented into seven key regions:
- North America
- Latin America
- Eastern Europe
- Western Europe
- Asia-Pacific Excluding Japan
- Japan
- Middle East and Africa
The section that follows analyses the market on the basis of product type and presents the forecast in terms of volume and value for the next 10 years. System type of wood preservative coatings covered in the report are:
- Solvent borne
- Water borne
Another section included in the report is on the basis of coating type that analyses the market and presents the forecast in terms of volume and value for the next 10 years. Applications of wood preservative coatings covered in the report are:
- Preservative
- Stains
- Varnishes
- Shellacs
- Others (Oil, Wax, etc.)
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