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Wood Coating Resins Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024

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Wood coatings are used on wooden surfaces to enhance their appearance and increase durability. Wood coatings are commonly used for polishing and exhibit water repellent properties. Wood coatings play a vital role in furniture and wood processing industries. The global wood coating resins market has been expanding due to the environmentally-friendly properties, better coating systems, high durability, enhanced esthetics, and better performance of these coatings. Increase in usage of solvent free and water based coating resins and implementation of strict regulations on volatile organic compounds (VOC) are anticipated to drive the global wood coating resins market during the forecast period.

Rise in demand for solvent-borne coatings that do not emit VOCs, higher price of water based coatings, and preference of furniture manufacturers for various metal products and particle boards are expected to restrain the wood coating resins market in the near future. Increase in inclination of the people to opt for other substitutes for wood based furniture and decrease in demand in various applications such as utility poles and rail road products are also anticipated to hamper the wood coating resins market.

The wood coating resins market has been segmented based on resin type, technology, application, and region. Based on resin type, the market has been divided into acrylic, epoxy, nitrocellulose, polyester, alkyd, and others. Polyurethane resin type hold major share in wood coating resins Polyurethane wood coatings are versatile and offer exceptional physical and chemical resistance. These coatings helps produce hard surface topcoats with excellent properties. Polyurethane reinforces the properties of wood based materials by providing protection and color. It also provides several high performance properties for wood coating substrates such as superior chemical, long-lasting surface finish, resistance to UV light, scratch resistance, general wear and tear, quick drying, and excellent sanding.

In terms of on technology, the wood coating resins market has been segregated into water borne, solvent borne, radiation cure, high-solids, and powder. The water borne technology surpasses the application properties and performance of solvent borne wood coating resins. The technology provides significant performance properties such as print and block resistance, early chemical resistance, and hardness.

Based on application, the market has been divided into cabinets, furniture, doors & windows, decoration, flooring, and others. Different kinds of coatings are used in furniture (indoor and outdoor) depending upon its applications and functions. Pendulum hardness (higher resistance to dirt), is vital properties for the usage of wood coating resins in furniture (indoor and outdoor) applications. Rise in demand for traditional and modern types of furniture in end-users companies is anticipated to boost the demand for wood coating resins in the next few years.

Based on region, the wood coating resins market has been classified into North America, Latin America, Asia Pacific, Europe, and Middle East & Africa. Asia Pacific is one of the key regions in terms of consumption of wood coating resins across the globe. Changing consumer tastes, strong economic growth, increase in infrastructure, and improvement in lifestyle and standard of living of people are expected to drive the wood coating resins market in Asia Pacific in the near future. The wood coating resins market in Latin America is also anticipated to expand at a rapid pace, due to the rise in construction activities and improvement in standard of living of the people in the region. North America is also anticipated to account for major share of the wood coating resins market in the near future, led by the rise in number of infrastructure activities. Furthermore, increase in need of home decorators in Europe is projected to boost the demand for wood coating resins in the region. Stringent environmental pressures and regulations are major factor to drive the wood coating resins market in Europe.

Key players operating in the global wood coating resins market are Nuplex Industries Limited, Koninklijke, DSM N.V., Dynea AS, Akzo Nobel India Ltd., Polynt Spa, Kansai Paint Co. Ltd., SigmaKalon Group BV, Allnex S.à r.l., Valspar Corp., and BASF Coatings AG.

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

The study is a source of reliable data on:

  • Market segments and sub-segments
  • Market trends and dynamics
  • Supply and demand
  • Market size
  • Current trends/opportunities/challenges
  • Competitive landscape
  • Technological breakthroughs
  • Value chain and stakeholder analysis

The regional analysis covers:

  • North America (U.S. and Canada)
  • Latin America (Mexico, Brazil, Peru, Chile, and others)
  • Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
  • Eastern Europe (Poland and Russia)
  • Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
  • Middle East and Africa (GCC, Southern Africa, and North Africa)

The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.

A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.

Highlights of the report:

  • A complete backdrop analysis, which includes an assessment of the parent market
  • Important changes in market dynamics
  • Market segmentation up to the second or third level
  • Historical, current, and projected size of the market from the standpoint of both value and volume
  • Reporting and evaluation of recent industry developments
  • Market shares and strategies of key players
  • Emerging niche segments and regional markets
  • An objective assessment of the trajectory of the market
  • Recommendations to companies for strengthening their foothold in the market  

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