Global Wood Coatings Market
Wood Coatings is a process of finishing wood products by protecting and decorating the wood. It unveils the natural beauty of the wood. The protection is from moisture, scratches, dirt and wear. Decoration of wood means exploring wood’s natural beauty through color, figure patterns, grain, and depth. It also enhances the wood’s appearance by hiding the defects.
The use of a resin coat for wood is widely used for construction material. The major demand is met for residential construction activities. The rising need for versatile resins as the coating has propelled the demand for Polyurethane in the construction industry.
Wood is one of the most needed materials for indoor and outdoor residential use. It needs Wood Coating and treatment to preserve its qualities and looks. Wood Coatings protect it from natural decay and daily wear and tear. The wood used for external purposes needs protection from rain, sun and freezing temperatures. Wood Coatings provides it with higher durability and resistance. The wood is protected from UV exposure, daily use and handling or damaging. The Wood Coating resins give high gloss and matte finish and with use of pigments can offer color options. These demands can act as factors for later market growth of wood coatings.
The use of volatile organic compounds is discouraged and eco-friendly Wood Coatings has gained mass demand. The continuous efforts, made by the industry to develop functionally advanced wood coatings are expected to create large lucrative avenues for vendors and manufacturers. Wood Coatings offers durability and is easier to use, it may be color or colorless.
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Key Players of Global Wood Coatings Market =>
The main players in the global Wood Coatings market are Sherwin-Williams Co., ICI Paints, PPG Industries Inc., Dow Coating Materials, Akzo Nobel Coatings NV, Kansai Paint Co. Ltd., DuPont Coatings and Color Technologies Group, The Valspar Corporation, RPM International Inc., Nippon Paint Co. Ltd., BASF Coatings AG, Hempel A/S, Ashland Inc., and Arkema SA.
The global Wood Coatings market can be segmented into resin types, Acrylic, Polyurethane, Nitrocellulose, Melamine Formaldehyde, and others. Acrylic paint dries fast and is made of pigment suspended in acrylic polymer emulsion. Polyurethane is thermosetting polymers and they do not melt when heated. Nitrocellulose is a mixture of nitric esters of cellulose; Melamine Formaldehyde is hard, scratch-free and resistant to shrinkage and heat.
The application is segmented into Cabinets, Side and Deck, Furniture, and others.
In terms of region, the global Wood Coatings market shows promising potential in Asia-Pacific (APAC), North America, Europe, South America, and the Middle East and Africa (MEA). The region-specific analysis also provides a better glimpse of the demographic challenges, which can be sorted in the future for better market results.
It is expected that during the forecast period North America and Europe will grow substantially. Both these regions have strong expenditure capabilities.
The increasing investment in the residential and commercial sector and government initiative to provide a home for all are driving the APAC market. During the forecast period, it is expected that the worldwide demand for Wood Coatings will increase at a significant pace. Owing to the increasing awareness of eco-friendly products, water-based coatings have a huge potential market in developing countries.
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