Skip to main content

Wood Coatings Market to Reach USD 12,323.2 Million by 2027; Popularity of Eco-friendly Furniture to Bolster Business Opportunities, states Fortune Business Insights™

Written by Customer Service on . Posted in Mergers And Acquisitions.

Pune, India, March 18, 2021 (GLOBE NEWSWIRE) — The global wood coating market size is expected to reach USD 12,323.2 million by 2027, exhibiting a CAGR of 4.8% during the forecast period. The growing consumer inclination towards sustainable alternatives and eco-friendly furniture will bolster healthy growth of the market, states Fortune Business Insights, in a report, titled “Wood Coating Market Size, Share & Covid-19 Impact Analysis, By Resins (Polyurethane, Nitrocellulose, Acid-curing, Polyester, and Others), By Formulating Technology (Solvent-borne, Water-borne, UV-cured, and Others), By Application (Furniture, Cabinets, Siding, Flooring, and Others), and Regional Forecast, 2020-2027.” The market size stood at USD 8,656.6 million in 2019.The coronavirus incident has caused major damage to all the industries across the globe. The governments of several countries have instigated lockdown to thwart the spread of this deadly virus. Such plans have caused disturbances in the production and supply chain. But, with time and resolution, we will be able to combat this tough time and get back to normality. Our well-revised reports will help companies receive in-depth information about every market’s present scenario so that you can adopt the necessary strategies accordingly.
The Report Lists the Key Companies in the Wood Coatings Market:
Evonik (Essen, Germany)DSM (Heerlen, Netherlands)Dow (Michigan, U.S.)Akzo Nobel N.V. (Amsterdam, Netherlands)Asian Paints (Mumbai, India)BASF SE (Ludwigshafen, Germany)Kansai Nerolac Paints Limited (Osaka, Japan)  PPG Industries, Inc. (Pennsylvania, U.S.)RPM International Inc. (Ohio, U.S.)The Sherwin-Williams Company (Ohio, U.S.)  Teknos Group (Helsinki, Finland)Axalta Coating Systems (Pennsylvania, U.S.)Nippon Paint Holdings Co., Ltd (Osaka, Japan)Stahl Holdings (Waalwijk, Netherlands)Valspar (Minnesota, U.S.)IVM Group (Milan. Italy)Other Key Players
Get Sample PDF Brochure with Impact of COVID19:https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/wood-coating-market-104605 Key Market Driver:
Proclivity towards UV-Cured Coating to Amplify GrowthThe environmental regulations and restrictions associated with the use of coatings will consequently spur demand for eco-friendly products, which, in turn, will aid the growth of the market. The focus on sustainability and green energy boost the demand for petrochemical products in the wood coatings industry. The inclination towards water-borne and radcure systems owing to the solvent-free capabilities will promote the market’s growth during the forecast period. Water-borne coatings, high-solids, radcure coatings, and powder coatings are the technologies being used these days. The presence of any volatile organic compounds in the composition of coating makes it harmful to the environment and human health. Hence, the diminished demand for compounds such as formaldehyde, owing to its harmful effects, will consequently fuel demand for eco-friendly products.
Drastic Drop in Oil Prices to Hinder Market Amid CoronavirusThe dramatic drop in oil prices has added to the high cost of raw materials that are dependent on petrochemicals, thus impeding the market growth. Thirty per cent of the cost of raw materials is indirectly tied to the price of oil. The lockdown imposed by the governments has simultaneously has resulted in high price of petrochemicals, in turn, dampening the market growth. The disruption in the manufacturing and supply chain of the coatings industry has exerted tremendous pressure on manufacturers. Similarly, the shortage of skilled and unskilled labor has further retarded the development of the market amid COVID-19.
The wood coatings market report comprises of:All-inclusive scrutiny of the marketValuable data about key playersEmerging market trendsImportant insights into the competitive landscapeDominant regionsLatest drivers and restraints Browse Detailed Summary of Research Report with TOC:https://www.fortunebusinessinsights.com/wood-coating-market-104605
Competitive Landscape:Strategies Implemented by Companies to Fortify IndustryProminent players in the market are involved in mergers and acquisitions, developing infrastructure, expanding their manufacturing facilities, investing in research and development facilities. The prominent companies are adopting such strategies to remain at the forefront. Moreover, the many companies are looking for opportunities to integrate vertically across their value chainRegional Analysis:Evolving Working Styles to Accelerate Business in EuropeEurope is expected to experience a rapid growth rate during the forecast period owing to the presence of major manufacturers in the region. Europe is a major user of wood-based panels used in conjunction with wood-sliced veneers. The growing home office industry coupled with changing working styles will aid the growth of the market in the region. Besides, the rise in ownership of home computers can further spur growth opportunities for the market. Wood is gaining ground as ‘hidden’ personal computer (PC) storage is being customized to suit other household furniture. Moreover, the demand for high-quality wooden storage solutions as a substitute for low-cost metal and plastic can further promote the growth of the market in Europe.Key Development:April 2019: Jotun launched Ultra One, Ultra Lite and Primax Excel, enabling engineered wood to be protectively coated in powder, and these materials can also be applied to real wood for the first time.
Inquire Before Buying This Research Report:https://www.fortunebusinessinsights.com/enquiry/queries/wood-coating-market-104605
Detailed Table of Content:IntroductionResearch ScopeMarket SegmentationResearch MethodologyDefinitions and AssumptionsExecutive SummaryMarket DynamicsMarket DriversMarket RestraintsMarket OpportunitiesEmerging TrendsKey InsightsKey Emerging Trends – For Major CountriesIndustry SWOT AnalysisRegulatory AnalysisRecent Industry Developments – Policies, Partnerships, New Resins Launches, and Mergers & AcquisitionsQualitative Insights – Impact of COVID-19 on Global Wood Coating MarketSupply Chain ChallengesSteps taken by Government/Companies to overcome this impactPotential opportunities due to COVID-19 outbreakTOC Continued…!Have a Look at Related Research Insights:Nanocoatings Market Size, Share & COVID-19 Impact Analysis, By Type (Anti-Microbial, Self-Cleaning, Anti-Fingerprint, Anti-Corrosion, and Others), By Application (Building & Construction, Automotive, Aerospace, Electronics, Marine, and Others), and Regional Forecast, 2021-2028Titanium Dioxide Market Size, Share & COVID-19 Impact Analysis, By Process (Sulfate, and Chloride), By Application (Paints & coatings, Plastics, Paper, and Others), and Regional Forecast, 2020-2027Bio lubricants Market Size, Share & Covid-19 Impact Analysis, By Application (Hydraulic Fluids, Metalworking Fluids, Chainsaw Oils, Mold Release Agents, Two-Cycle Engine Oils, Gear Oils, Greases, and Others), By End-use Industry (Automotive and Other Transportation, Metalworking, Mining, Forestry, Marine, Engines, and Others), and Regional Forecast, 2020-2027Medical Coatings Market Size, Share & COVID-19 Impact Analysis, By Type (Hydrophilic Coatings, Antimicrobial Coatings, Antithrombogenic Coatings, and Others), By Material Type (Fluoropolymer, Silicone, Parylene, Metals, and Others), By Application (Medical Device, Medical Implants, Medical Equipment & Tools, and Others), and Regional Forecast, 2020-2027Coating Resins Market Size, Share & Covid-19 Impact Analysis, By Resins (Acrylic, Alkyd, Polyurethane, Epoxy, Polyester, and Others), By Formulating Technology (Water-based, Solvent-based, Powder, and Others), By End-use Industry (Architectural Coatings, General Industrial Coatings, Powder Coatings, Wood Coatings, Automotive OEM Coatings, Automotive Refinish Coatings, Protective Coatings, Packaging Coatings), and Regional Forecast, 2020-2027About Us:Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in. Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.  At Fortune Business Insights™, we aim at highlighting the most lucrative growth opportunities for our clients. We, therefore, offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.
Contact Us:Fortune Business Insights™ Pvt. Ltd.308, Supreme Headquarters,Survey No. 36, Baner,Pune-Bangalore Highway,Pune – 411045, Maharashtra, India.
Phone:US:+1 424 253 0390UK : +44 2071 939123APAC : +91 744 740 1245Email: sales@fortunebusinessinsights.com

Disclaimer & Cookie Notice

Welcome to GOLDEA services for Professionals

Before you continue, please confirm the following:

Professional advisers only

I am a professional adviser and would like to visit the GOLDEA CAPITAL for Professionals website.

Important Notice for Investors:

The services and products offered by Goldalea Capital Ltd. are intended exclusively for professional market participants as defined by applicable laws and regulations. This typically includes institutional investors, qualified investors, and high-net-worth individuals who have sufficient knowledge, experience, resources, and independence to assess the risks of trading on their own.

No Investment Advice:

The information, analyses, and market data provided are for general information purposes only and do not constitute individual investment advice. They should not be construed as a basis for investment decisions and do not take into account the specific investment objectives, financial situation, or individual needs of any recipient.

High Risks:

Trading in financial instruments is associated with significant risks and may result in the complete loss of the invested capital. Goldalea Capital Ltd. accepts no liability for losses incurred as a result of the use of the information provided or the execution of transactions.

Sole Responsibility:

The decision to invest or not to invest is solely the responsibility of the investor. Investors should obtain comprehensive information about the risks involved before making any investment decision and, if necessary, seek independent advice.

No Guarantees:

Goldalea Capital Ltd. makes no warranties or representations as to the accuracy, completeness, or timeliness of the information provided. Markets are subject to constant change, and past performance is not a reliable indicator of future results.

Regional Restrictions:

The services offered by Goldalea Capital Ltd. may not be available to all persons or in all countries. It is the responsibility of the investor to ensure that they are authorized to use the services offered.

Please note: This disclaimer is for general information purposes only and does not replace individual legal or tax advice.