The Wood Coatings Market deals with the development of coatings which are used for multiple functions in wood processing. Wood coating refers to a process of refining or protecting a wooden surface, especially in the production of furniture. These fluids are used to get a superior quality wood surface.
Basically, wood coatings are used for a variety of purposes which include better stabilization, hygiene and decoration of wood. The applications of wood coatings include interior wood, furniture, panels, tables, cupboards, chairs, doors, staircases and among many others. Furniture, decking, and siding are the three largest applications in value terms. However, smaller doors, windows and cabinet applications are expected to achieve faster growth in the near future.
Scope & Regional Forecast of the Wood Coatings Market
The major industries such as building and infrastructure, furniture and food packaging are the main factors that drive demand and growth for the Wood Coatings Market. Another important reason for the rise in industrial coatings is the in the demand for protective coatings that provide protection of the wood from bacteria and other harmful organisms. Rising construction activities across almost all regions couples with growing spending capacity of people are the other major factors that spur market growth.
Asia-Pacific is dominating the Wood Coatings Market, due to rising demand from the emerging economies such as India and China. Europe is leading to the next position, followed by North America. North America is expected to register significant growth due to rising demand from housing industry as the home-owners prefer wood finishes and wood coatings for their furniture and all wood materials. Rest of the World is expected to register healthy growth during the forecast period.
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Segmentations & Key Players Involved in the Wood Coatings Market
According to IndustryARC findings, the Wood Coatings Market can be broken down into various segmentations on the basis of –
Formulation: Water Based, Solvent-Based and Radiation Cured.
Types Of Coatings: Penetrating Finishes, Varnish (including polyurethane coating), Shellac, Lacquer and Others.
Coating Technique: Spray Coating, Roller Coating, Curtain Coating, Flow Coating, Vacuum Coating and Others.
Application: Food Packaging Industry, Building and Infrastructure, Furniture and Others.
Region: North America, Europe, Asia-Pacific and Rest of the World.
Some of the key players involved in the Wood Coatings Market according to IndustryARC are as follows:
The Dow Chemical Company
The Lubrizol Corporation
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