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Global Wood Coatings Market Report 2020-2028: Applications, Growth Trends, Key Players, Competitive Strategies and Forecasts

Research and Markets
·4-min read

Dublin, Jan. 22, 2021 (GLOBE NEWSWIRE) -- The "Wood Coatings Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2020 To 2028" report has been added to ResearchAndMarkets.com's offering.

The wood coatings function in protecting the wood structures from interior to exterior. Prevention from moisture penetration and severe climatic conditions necessitates wood coatings to ensure long term durability for its wood products. The growth in the construction activities coupled with the increase in spending power on repair and remolding is expected to drive the global wood coatings market.

Among the system type, the solvent-borne segment accounted for a major value share in 2019 and expected to lose share gradually by 2028. This is attributed to harmful emissions through the use of organic solvents. However, the excellent finishing performance with technical advantages over others marks the solvent-borne wood coatings to still dominate in the market.

Geographically, the Asia Pacific region registered a more than 45% value share in 2019 and expected to cater a significant growth by 2028. The government investments for the infrastructural development and initiatives towards housing schemes in countries such as India, Vietnam, and ASEAN countries among others, is expected to propel the wood coatings market in the region. In China, the demand for water-borne wood coatings is on rising owing to the new tax reform on VOC emissions.

Some of the key players present in this market are Teknos Group Oy, BASF SE, Akzo Nobel N.V., The Sherwin-Williams Company, Valspar Corporation, Covestro AG, PPG Industries, Inc., Morrells Wood Finishes, Axalta Coating Systems, LLC, Katilac Coatings Inc. among others. Mergers/acquisition and new product launches, are some of the strategies the companies are undertaking to mark their robust presence in the global wood coatings market.

The increased development in residential construction benefit wood coatings market, primarily for furniture, flooring, and decking end user. The furniture segment accounted value share of more than 25% followed by the flooring segment in 2019. The growing demand for high-quality and durable furniture products coupled with hard-wearing surfaces propels the wood coatings market for the furniture segment.

The flooring and decking generally uses hardwood or engineered woods, which are the common choices for residential properties. The floorings are required to have slip resistance and durability for higher shelf life and thus drives the wood coating market for flooring and decking. However, the wood floorings are expensive, and their maintenance and replacements are also highly valued. Vinyl floor tiles with wooden floor styles are new substitutes in the market with much cheaper value than wood. Such a substitute for flooring & decking might impact the growth of the wood coating market.

Key Topics Covered:

Chapter 1 Preface
1.1 Report Description
1.2 Research Scope
1.3 Research Methodology

Chapter 2 Executive Summary
2.1 Market Snapshot: Global Wood Coatings Market Revenue (US$ Bn)
2.2 Global Wood Coatings Market Revenue (US$ Bn), by System Type
2.3 Global Wood Coatings Market Revenue (US$ Bn), by Coating Type
2.4 Global Wood Coatings Market Revenue (US$ Bn), by End User
2.5 Global Wood Coatings Market Revenue (US$ Bn), by Geography

Chapter 3 Global Wood Coatings Market Dynamics
3.1 Overview
3.2 Market Drivers
3.3 Challenges
3.4 Future Prospects
3.5 Attractive Investment Proposition by Geography, 2019
3.6 Market Positioning of Key Players

Chapter 4 Global Wood Coatings Market, by System Type
4.1 Overview
4.2 Solvent-borne
4.3 Water-borne
4.4 High-solids

Chapter 5 Global Wood Coatings Market, by Coating Type
5.1 Overview
5.2 Preservatives
5.3 Stains & Varnishes
5.4 Shellacs
5.5 Others

Chapter 6 Global Wood Coatings Market, by End User
6.1 Overview
6.2 Furniture
6.3 Flooring
6.4 Decking
6.5 Siding
6.6 Others

Chapter 7 Global Wood Coatings Market, by Geography
7.1 Overview
7.2 Global Wood Coatings Market Revenue Share, by Geography, 2019 & 2028 (Value %)

7.3 North America

7.4 Europe

7.5 Asia Pacific

7.6 Latin America

7.7 Middle East and Africa (MEA)

Chapter 8 Company Profiles
8.1 Teknos Group Oy
8.2 BASF SE
8.3 Akzo Nobel N.V.
8.4 The Sherwin-Williams Company
8.5 Valspar Corporation
8.6 Covestro AG
8.7 PPG Industries, Inc.
8.8 Morrells Wood Finishes

For more information about this report visit https://www.researchandmarkets.com/r/xr4eo

Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.

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