Sustained demand from developed markets and growing demand from emerging economies will continue to drive the wood coatings market. Non-residential and non-construction uses represent a much smaller market for wood protection products.
DUBAI, UNITED ARAB EMIRATES, Jan. 24, 2023 (GLOBE NEWSWIRE) — The global wood coatings market is expected to increase at a CAGR of 5.9% over the forecast period from 2022 to 2032. It is attributed to the growth of the housing market as spending on maintenance of roofs, fences and floors rises. and aligned. Moreover, stringent regulations, increasing competition, rise in unique formulations, and new product developments are some of the reasons driving the growth of the wood coating industry.
Rapid urbanization in response to increased development and population growth is expected to drive large-scale housing demand. As a result, the demand for furniture such as chairs, tables, mattresses, sofas, shelves, and cabinets has skyrocketed, leading to an increase in the demand for wood coatings.
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Although, the availability of lower cost and higher quality alternatives, such as wood composites and wood plastics, may limit the growth of the wood coatings market. Moreover, strict regulations, increasing competition, growth in unique formulations, and new product developments are some of the factors stimulating the growth of the wood coating market.
In addition, the availability of cheaper, higher quality alternatives such as wood composites and wood plastics is likely to hinder the growth of the wood coatings market. These alternatives are often more durable and require less maintenance compared to other wood products.
Although there are many alternatives available, wood is a primary choice for commercial and residential pure wood finishing due to its wide availability in the market. Wood clear coats account for most of the wood protection requirements of which paints and stains account for the largest number of stocks. In contrast, preservatives, which wood processing companies apply to wood, account for a smaller portion of the demand for wood protection.
Wood stain applications include interior wood, small furniture, paneling, tables, cabinets, chairs, office furniture, kitchen furniture, doors, stairs, and more. In general, there are three main types of wood coatings such as vaporization, reactive and coalescence.
It has often been observed that the color of wood changes by staining, bleaching, or other techniques. Once the surface of the wood has been prepared and stained, the paint is applied. It usually consists of several layers of shellac, drying oil, paint, wax or varnish.
In the final stages the surface may be smoothed with the help of wool, steel, rotted stone or other materials. It also depends on the luster desired by the customer. Additionally, a final coat of wax is applied to the finish to add a degree of protection. Polyurethane paint is also related to wood paint.
Furniture, decking, and siding are the three largest applications for wood stain in terms of value. However, smaller door, window and cabinet applications are expected to achieve faster growth in the near future.
Lacquer is a predominant wood coating product that is used on siding, windows, and doors, but compared to other products, stains and sealants are widely used on cabinets, decks, furniture, and floors. Polyurethane wood finish is mostly used in primers and sealants.
The residential end user is recognized as the largest market for wood protection products, driven by maintenance demand for various items such as fences, siding, and decks. Non-residential and non-construction uses represent a much smaller market for wood protection products.
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Major players in the global wood coatings market are focusing on launching new and innovative types of wood coatings in order to gain an edge on the global scene. The prominent players in the market are focusing on mergers and acquisitions to cater to a diversified client base. Moreover, technological advances make it possible to innovate new wood coating products to achieve better results in the future.
The main players
Akzo Nobel Coatings NV (Netherlands)
PPG Industries Inc. (United State)
Sherwin Williams Company (USA)
DuPont Coatings and Color Technologies Group (USA)
ICI Paints (UK)
BASF Coatings AG (Germany)
Valspar Corporation (USA)
More ideas aboutWood paint market
The North America region is expected to dominate the global wood coating market. The growth in the region has been attributed to increased demand for personalized home design products, as well as increased customer spending, which will be a major driver of the thick layer of translucent wood in North America.
The Asia Pacific region is currently recognized as the largest wood varnish market, followed by Europe. The expansion of the market is responsible for increasing sustained demand from developed markets and growing demand from emerging economies will continue to drive the wood coatings market. The wood coatings market is witnessing a significant shift of major market players from Europe and the United States to emerging economies of Asia Pacific, including China and India.
Depending on the application
Depending on the end use
Middle East and Africa
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