Global Wood Coatings Market: Overview
The term wood coatings implies a wide range of products such as stains, varnishes, shellacs, and lacquers, which are commonly used in the domestic and industrial sectors. The significance of wood coatings is that they add depth and warmth to the appearance of the wooden structures. They can be applied in the form of surface coatings, natural finishes, pigmented finishes, penetrating finishes and wax polishes. Depending upon the applications, the usage of wood coatings also varies. The key applications of wood coatings include furniture, cabinets, and side and deck.
Global Wood Coatings Market: Drivers and Restraints and Trends
The recovery of the housing industry all over the world is propelling the wood coatings market. Demand for side and deck in advanced countries is increasing. This is anticipated to drive the market for wood coatings in the near future. The recent recovery of the housing industry across the world is propelling the global wood coatings market. The rise in construction of new homes and the house modifications are factors driving the wood coatings market. Wood coatings are highly used for kitchen furnishings and flooring.
Demand for side and deck in advanced countries is increasing, which is anticipated to fuel the market for wood coatings in the next few years. Increasing public awareness regarding coatings with low volatile organic compounds and the implementation of safety regulations are factors that significantly contribute to growth of the wood coatings market. Increasing disposable income is also considered as a propelling factor for global wood coatings market.
Growth in the residential housing sector coupled with growing demand for furniture, decking, and siding products are considered as the growth opportunities for the wood coatings market. Also, the shift towards green technology is another opportunity creator, as it deals with the non-volatile emission of organic compounds. Strategic co-operation among manufacturers is also considered as the opportunity for the wood coatings market
The report estimates and forecasts the wood coatings market on the global, regional and country levels. The study provides forecast between 2017 and 2025 based on volume (Tons) and revenue (US$ Mn) with 2016 as the base year. The report comprises an exhaustive value chain analysis for each of the segments. It provides a comprehensive view of the market. Value chain analysis also offers detailed information about value addition at each stage. The study includes drivers and restraints for the wood coatings market along with their impact on demand during the forecast period.
The study also provides key market indicators affecting the growth of the market. The report analyzes opportunities in the wood coatings market on the global, regional and country level. Drivers, restraints, and opportunities mentioned in the report are justified through quantitative and qualitative data. These have been verified through primary and secondary resources. Furthermore, the report analyzes substitute analysis of wood coatings and global average price trend analysis.
Global Wood Coatings Market: Segmentation
The report includes Porter’s Five Forces Model to determine the degree of competition in the wood coatings market. The report comprises a qualitative write-up on market attractiveness analysis, wherein end-users and regions have been analyzed based on attractiveness for each region. Growth rate, market size, raw material availability, profit margin, impact strength, technology, competition, and other factors (such as environmental and legal) have been evaluated in order to derive the general attractiveness of the market. The report comprises price trend analysis for wood coatings between 2017 and 2025.
The study provides a comprehensive view of the wood coatings market by dividing it into resin, product, technology, application, and geography segments. Resin segment has been categorized into polyurethane, acrylics, melamine formaldehyde, nitrocellulose, and others. The product segment of the wood coatings market is classified as stains & varnishes, shellacs, lacquers, and others. The technology segmentation covers oil based wood coatings, water based wood coatings and also solvent based wood coatings.
The wood coatings market, by application has been categorized into furniture, cabinets, side & deck, and others. The regional analysis of global wood coatings market include includes the current and forecast consumption of wood coatings in North America (U.S, Canada), Latin America (Brazil, Mexico, Rest of Latin America), Europe (Germany, France, Italy, U.K, Spain, and Rest of Europe) , Asia Pacific (China, India, Japan & ASEAN) , and Middle East & Africa (GCC, Egypt, South Africa and Rest of Middle East & Africa). Market segmentation includes demand for consumption in all the regions and countries individually.
Global Wood Coatings Market: Competitive Analysis
The report covers detailed competitive outlook that includes market share and profiles of key players operating in the global market. Key players profiled in the report include Akzo Nobel N.V, BASF SE, Nippon Paint Holding Co., Ltd, PPG Industries, Inc., RPM International Inc., The Sherwin Williams Company, and The Dow Chemical Company. Company profiles include attributes such as company overview, number of employees, brand overview, key competitors, business overview, business strategies, recent/key developments, acquisitions, and financial overview (wherever applicable).
Secondary research sources that were typically referred to include, but were not limited to, The World Paint & Coatings Industry Association (WPCIA) , American Coatings Association (ACA), National Wood Flooring Association (NWFA), British Coating Federation (BCF) , The Society for Protective Coatings (SSPC) , Chemical Coaters Association International (CCAI) , American Wood Protection Association and European Wood Preservative Manufacturers Association (EWPMA),company websites, financial reports, annual reports, investor presentations, broker reports, and SEC filings. Other sources such as internal and external proprietary databases, statistical databases and market reports, news articles, national government documents, and webcasts specific to companies operating in the market have also been referred for the report.
In-depth interviews and discussions with a wide range of key opinion leaders and industry participants were conducted to compile this research report. Primary research represents the bulk of research efforts, supplemented by extensive secondary research. Key players’ product literature, annual reports, press releases, and relevant documents were reviewed for competitive analysis and market understanding. This helped in validating and strengthening secondary research findings. Primary research further helped in developing the analysis team’s expertise and market understanding.
The global wood coatings market has been segmented as follows:
Global Wood Coatings Market, by Resin Analysis
Global Wood Coatings Market, by Product Analysis
Global Wood Coatings Market, by Technology Analysis
Global Wood Coatings Market, by Application Analysis
Global Wood Coatings Market, by Regional Analysis
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