Wood coating is a process done to protect the wooden surface in order to increase their utilization, wear resistance, and surface finish. They not only increase durability of wood but also enhances aesthetic look and feel. Wooden coating is done mostly to furniture“s, interiors, cabinets, flooring etc. The wood surfaced is first sandpapered by hand or scraping and then by wood filler and is then coated using different methods depending upon end use and ease of application. In addition, these coatings are fire and water resistant.
A major factor driving growth of the global wood coatings market is growing construction sector both commercial and residential. In addition, increasing demand for wooden flooring, cabinets, siding, fences, and decks by residential end user has created larger market as compared to commercial end user. Increasing demand from luxury car users to have wooden finish element, as a status symbol, is another factor driving growth of the global wood coatings market. Increasing disposable income and changing standards of living has further fueled growth of the wood coatings market globally.
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Disposing of chemically treated wooden products coupled with raising environmental concerns are major factors hampering growth of the global wood coatings market. In addition, high raw material price and availability of cheap and non-chemical substitutes are some other factors further hampering growth of the global wood coatings market.
The global market report has been segmented on the basis of coating type, application method, end user, and region.
North America dominates the global wood coatings market and is expected to maintain its dominance during the forecast period. This growth is attributed to presence of major vendors in this region. The market in Asia Pacific is projected to witness high and fast growth in terms of revenue during the forecast period due to growing construction sector in this region. The market in Europe is expected to witness considerable growth over the forecast period.
Key players in the global wood coatings market are: Akzo Nobel N.V., Axalta Coating Systems, BASF SE, DuPont, Valspar Corporation, Kansai paints Co. Ltd., Nippon Paint Holdings Co., Ltd., PPG industries Inc., The Sherwin-Williams Company, and NOROO Paints.
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