The global woodcoatings market features a highly competitive landscapeowing to the presence of a plethora of companies competing against one another,notes Transparency Market Research (TMR). Top players in the wood coatingsmarket increasingly resort to forward integration strategies to gainsubstantial competitive benefits, which may help them to retain theirstronghold over the assessment period. Several players are also focusing onproduct differentiations to attract more consumers and consolidate theirpositions in various regions. This is especially the trend among small- andmedium-scale manufacturers who find this a key strategy to gain a foothold inthe wood coatings market.
TMRfinds that the wood coatings market is also fairly consolidated as the top fourplayers held a combined share of nearly 60.0% in 2016. These companies are RPMInternational Inc., Akzo Novel N.V., PPG Industries Inc., and The SherwinWilliams Company. Of these, The Sherwin Williams Company alone accounted forthe leading share of 21.3% in 2016. Some of the other companies operating inthe global wood coatings market are the Dow Chemical Company, Nippon PaintsHoldings, the Asian Paints, and BASF SE.
Request PDF brochure
https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=12161
The globalwood coating market stood at US$8.625 billion in 2016 and is projected to riseat a promising 8.3% CAGR during 2017–2025. Rising at this pace, the globalmarket is anticipated to reach a worth of US$17.595 billion by the end of 2025.
Among thevarious types of resins, the polyurethane led the global wood coatings marketpresently. Rising at a robust CAGR of 8.8% from 2017–2025, the segment islikely to hold its sway throughout the forecast period. The growth is driven bythe use of these resins in the myriad applications, attributed to them beinglargely scratch- and humidity- resistant.
Of all thekey regional markets, Asia Pacific held the majority of share in the globalmarket for wood coatings. The growth is increasingly fueled by the burgeoningdemand for wood coating applications, largely from the sales of furnitureacross. The regional market is estimated to retain its dominant share that willrise to 47.4% by 2025 end.
More Trending Reports
Substantial Use in Range of Applicationsin Construction Materials drive demand for Wood Coatings
The globalwood coatings market is primarily driven by the substantially rising demand forthe resin coating for the wood used in a wide range of construction materials.The widespread demand is supported by the vast strides being taken by thebuilding and construction activities, world over. A large chunk of the demandcomes from the residential construction activities. The market growth is alsofueled by the burgeoning demand for wood coatings in a variety of furniture,especially those meant for residential purposes.
Buy Now
https://www.transparencymarketresearch.com/checkout.php?rep_id=12161<ype=S
Over thepast several years, environmental norms pertaining to discouraging the use ofvolatile organic compounds (VOCs) in various end-use industries has gainedmomentum in various parts of the world. Stringent implementations of such normsis fueled by the rising awareness about the use of low-VOC wood coatingscoatings. This is a notable factor catalyzing the expansion of the woodcoatings market.
Advent of Alternative Materialscrippling Wood Coatings Market Prospects
However,the notably growing use of non-wood materials in numerous applications inend-use industries is a discerning factor that has hampered the steady growthof the wood coatings market. The advent of alternative materials is emerging aspotential bottleneck in this regard. Moreover, the frequent fluctuations in theprices of key raw materials prices, particularly of acrylic and polyurethane,is a factor adversely affecting the prospects of the market.
Request Discount
https://www.transparencymarketresearch.com/sample/sample.php?flag=D&rep_id=12161
Nevertheless,the constant industry efforts to develop functionally-advanced wood coatingsare expected to create large lucrative avenues for vendors and manufacturers.The rising need for versatile resins as coatings has propelled the demand forpolyurethane in the construction industry.
AboutUs
TransparencyMarket Research is a next-generation market intelligence provider, offeringfact-based solutions to business leaders, consultants, and strategyprofessionals.
Our reportsare single-point solutions for businesses to grow, evolve, and mature. Ourreal-time data collection methods along with ability to track more than onemillion high growth niche products are aligned with your aims. The detailed andproprietary statistical models used by our analysts offer insights for makingright decision in the shortest span of time. For organizations that requirespecific but comprehensive information we offer customized solutions throughadhoc reports. These requests are delivered with the perfect combination ofright sense of fact-oriented problem solving methodologies and leveragingexisting data repositories.
TMRbelieves that unison of solutions for clients-specific problemswith right methodology of research is the key to helpenterprises reach right decision.”
Contact
TransparencyMarket Research
StateTower,
90 StateStreet,
Suite 700,
Albany NY -12207
UnitedStates
USA -Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Website: https://www.transparencymarketresearch.com
