Global Wood Coatings Technologies and Application Markets to 2023 Featuring Arkema Asian Paints BASF Kansai Paint PPG Industries and Sherwin-Williams Co
08 Jun 2019
Global markets for wood coating technologies and applications analyses market trends with data from 2017 and 2018, and projections of compound annual growth rates (CAGRs) through 2023. It takes a look at the increased demand for wood coatings driven by customers' expectations in diverse areas such as performance, ease of application, sustainability, quality, functionality and environmental properties. Characterization and quantification of market potential for wood coating technologies by product type, application area, enduse industry, and major geographical regions.
Hardwoods are used to manufacture furniture, and softwoods are used to manufacture stud partitions, external fences, doors and roof traces. Both hardwoods and softwoods can be used for wooden floorings. Hardwoods are more expensive than softwoods. Both wood types have differentiated features and beauty. Wood grains also differ by wood type. Every wooden structure is coated with transparent or stain coatings to enhance the color and grains of the timber. Coatings are therefore essential and are used according to the applications of those structures by their manufacturers. The coating also enhances a product's life. Ultraviolet (UV)-retardant and moisture-resistant coatings are the most demanding features of wood coating solutions.
Varnishes, shellacs, preservatives, dyes, repellents and lacquers are the most common types of products used for coating wooden surfaces. Distinguishing features and durability are driving the demand for such products. Various coating techniques, such as conventional spray, high-volume low-pressure (HVLP) spray, airless spray and electrostatic spray, are the prevailing spraying solutions used by wood product manufacturers. The demand for other wood surface coating techniques (e.g., rollers, brush, vacuum, curtain) is further expected to rise with the increase in demand for wood products. Differentiated coating techniques are applied based on the size, shape and complexity of the product surface. The types of coating products to be applied depends on the exposure of the surface. Interior or exterior applications of wood products determine the types of the coat to be applied.
The demand for wood coating solutions is directly related to the demand for wood products, as those coating solutions have been developed for application solely on wooden surfaces. The rise in demand for household and commercial buildings is expected to create a demand for wood products, including furniture, cabinets, flooring and decking, which in turn is expected to drive the global wood coating technology market during the forecast period.
The demand for cargo ships is expected to rise due to the reduction of trade barriers and the latest global trade policies. The demand for passenger and cruise ships is further expected to rise due to the increasing amount of disposable income among the global population, which is expected to drive tourists to pursue royal travelling experiences. The increased demand for cargo and passenger ships will lead to the increased demand for wood for manufacturing and decorating ship interiors, which will surge wood coating applications among ship manufacturers.
Moisture-resistant and UV-retardant wood coats are expected to be in great demand among the ship manufacturers due to ships' exposure to water and sunlight. The demand for wood coats for exterior fencing is also expected to increase during the forecast period, as wood fencing adds a superior appearance to a building or premises. Maintenance of antique wood structures and the process of coating several newly designed handcrafts are factors expected to drive the wood coating technology market during the forecast period.
Discussion of research and development, and the demand for new products and new applications is also provided with details covering new developments taking place in the industry with respect to continuous improvements in environmental performance and patent review and new developments for wood coating technologies.
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