Future Market Insights’ (FMI) new research report on the global Wood Coatings market offers in-depth analysis of the global trends, drivers, challenges, opportunities, and restraints which will shape the market growth in the years to come.
| Attributes | Details |
| Wood Coatings Market Value by 2025 | US$ 11.7 Bn |
| Wood Coatings Market CAGR (2022-2032) | 5.9% |
Wood coatings refer to the process of refining or protecting a wooden surface, especially in the production of furniture. Wood coating applications include: interior wood, small furniture, panels, tables, cupboards, chairs, office furniture, kitchen furniture, doors and staircases among others. There are generally three types of wood coating: evaporative, reactive and coalescing. Wood coating starts with sanding either by hand or scraping. Imperfections or nail holes on the surface may be filled using wood filler. Often, the wood’s color is changed by staining, bleaching, or any other techniques.
The analysts at FMI have scrutinized and incorporated every possible factor that directly or and indirectly impacts the growth of the market during the forecast period. To facilitate easy understanding to the readers the vast study is condensed and structured on the basis of different segments and regions. Along similar lines, the market variables such as growth, consumption, value chain analysis, supply chain, etc. are presented transparently.
The report is essential for the stakeholders operating in the Wood Coatings market, such as manufacturers, distributors, suppliers, and investors, to understand the varying demand and supply side parameters. Having studied various parameters, thereupon paints a lucid picture of the path the market is headed in.
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Impact of COVID-19 on Wood Coatings Market
The overall chemicals & materials industry is currently experiencing fluctuations in demand and sales and Wood Coatings market is no different. Beginning from the first quarter of 2020, there has been a curt change in working methodologies across manufacturing facilities to comply with the social distancing norms in place. The same extends to the Wood Coatings market, akin to other industries operating in the chemicals & materials domain. As a result of operations with limited work force, hindered supply chains, and terminated operations, a growth trajectory of Wood Coatings market is expected to navigate through a bumpy trajectory through the pandemic.
Furniture, decking, and siding are the three largest applications in value terms. However, smaller doors, windows and cabinet applications are expected to achieve faster growth in the near future. Paint is the dominant wood protection product used on siding, windows and doors, but stains and sealers are more widely utilized on cabinets, decks, furniture, and flooring. Residential end-user is the largest market for wood protection products, driven by maintenance demand for items such as fences, siding and decks. Non-residential and non-building uses account for a much smaller market for wood protection products.
The growth in the housing market is the primary driver for the wood coatings market. Homeowners are investing more in the upkeep of their decks, fences, floors and siding. A well maintained home adds value of the home and saves money in the long term. In addition, stringent regulations, rising competition, growth in unique formulations and new product developments are some of the factors stimulating the growth of wood coatings market.
Asia Pacific is currently the largest market for wood coatings, followed by Europe, North America and Rest of the world (RoW). Sustained demand from the developed markets and burgeoning demand from emerging economies will continue to drive the wood coating market. The industry is witnessing a major shift of key market players from Europe and the U.S. to the emerging economies of Asia Pacific, comprising of China and India.
Wood Coatings Market: Competition Analysis
The study bestows valuable insights into the competitive landscape of the global Wood Coatings market, by studying numerous players, their growth strategies, and key developments. The report dwells deep and studies different facets such as product launches, production methodologies, and steps adopted by players to make processes cost-effective, among others, are expected to influence their individual standpoint. Understanding the prevailing trends and strategies on the supply-side empowers players to foster their plan of action accordingly to progress on a remunerative path.
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Key players covered in the research include
Akzo Nobel Coatings nv (Netherlands)
PPG Industries Inc. (U.S.)
Sherwin-Williams Co. (U.S.)
DuPont Coatings and Color Technologies Group (U.S.)
ICI Paints (UK)
BASF Coatings AG (Germany)
Valspar Corp. (U.S.)
Nippon Paint Co. Ltd. (Japan)
Dow Coating Materials (U.S.)
Others
Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
4. Global Portable Medical Devices Market Analysis 2017-2021 and Forecast, 2022-2032
to be continued…!
Key Questions Answered in FMI’s Wood Coatings Market Report
Which region is anticipated to hold a prominent market share over the forecast period?
What will be the key driving factor propelling the demand for Wood Coatings during the forecast period?
How current socio-economic trends will impact the Wood Coatings market?
What are the growth strategies implemented by prominent players in the Wood Coatings market to maintain their foothold in the competitive landscape?
About FMI
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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