Wood Coatings Market Predicted Double-Digit Growth Rate by 2024

Wood Coatings Market Predicted Double-Digit Growth Rate by 2024

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Wood Coatings Market: Overview

To increase the durability and to enhance the appearance of the wooden surfaces wood coatings are used which are nothing but a range of chemicals. The most common wood coatings are the polishes and the water repellants which are widely used owing to their high effectiveness. The major industries that use the wood coatings as a crucial part are wood processing and the furniture industry. Water repellants, stains and varnishes and wood preservatives are the commonly used wood coatings. Brush coating, vacuum coating, roll coating and spray coating are the main mechanisms of applications of the wood coatings.

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Wood Coatings Market: Segmentation

The global wood coatings market is globally segmented into its type, application method, end-user industry and the regions. On the basis of the coatings type, the global market is segregated into shellac coating, water repellants, stains and varnishes, wood preservatives and others. Based on the application method, the global wood coatings market is categorized into vacuum coating, roll coating and brush coating, spray coating and others. On the basis of the end user, the global market is divided into cabinets, siding, furniture, flooring and decking and others. The global market is diversified into different regions such as Europe, North America, Asia Pacific and Rest of the World.

Wood Coatings Market: Growth Factors

The major drivers for the growth of the global wood coatings market are the increase in the constructional works which are both commercial and residential, increasing disposable income, recovery of the economy globally and the growth in the urbanized crowd. There are huge investments made in the infrastructure by the organizations which contributes to the market growth. In the recent years, the living standards of the people have increased tremendously and they are making huge investments on their houses and furnishing hence fueling the global market growth. New technologies have been developed such as the low-VOC coatings which are giving new opportunities in the market. The factors hampering the global market growth include the stringent regulations imposed, increasing competition in the market, availability of cheaper and quality options such as plastic wood and wood composite acts as hindrance to the global market growth.

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Wood Coatings Market: Regional Analysis

The largest market for the global wood coatings market is the Asia Pacific market, which is followed by the Europe and the North America. The key factor for the market growth in the Asia Pacific region is the increase in the constructional activities and the rise in the disposable income. The continuous demand from the emerging markets and the emerging economies demand will contribute to the growth of the global wood coatings market. India and China are holding a major market share in the Asia Pacific region.

Wood Coatings Market: Competitive Players

The key market players in the global wood coatings market are Akzo Nobel Coatings NV, Kansai Paint Co. Ltd., DuPont Coatings and Color Technologies Group, BASF Coatings AG, Hempel A/S, Ashland Inc., Arkema SA, Sherwin-Williams Co., ICI Paints, PPG Industries Inc., Dow Coating Materials, The Valspar Corporation, RPM International Inc. and Nippon Paint Co. Ltd.

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Wood Coatings Market: Regional Segment Analysis

North America(U.S.); Europe(UK, France, Germany); Asia-Pacific(China, Japan, India); Latin America(Brazil); The Middle East and Africa

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Shawn Morgan is an accomplished digital marketing professional. He tracks the most recent patterns and happenings in the advanced showcasing scene, additionally offering his feeling on their effect on organizations. He has involvement in both B2C and B2B markets. His side interests incorporate perusing books and voyaging.

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