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Wood Coating Resin Market worth $9.72 Billion by 2020
The report "Wood Coating Resin Market by Type (Amino, PU, Acrylic, Polyester, NC), Technology (Water, Solvent, High Solids, Powder, Radiation Cure), Application (Flooring, Siding & Decking, Fencing, Furniture, Windows & Doors, Cabinets)-Global Forecast to 2020”, report analyzes the global wood Coating market with respect to market drivers, restraints, and opportunities in different regions.
Browse 76 market data tables and 54 figures spread through 155 pages and in-depth TOC on “Wood Coating Resin Market by Type (Amino, PU, Acrylic, Polyester, NC), Technology (Water, Solvent, High Solids, Powder, Radiation Cure), Application (Flooring, Siding & Decking, Fencing, Furniture, Windows & Doors, Cabinets)-Global Forecast to 2020"
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The global wood coating resin market is successfully penetrating the construction and furniture industries. The end products are tailor-made as per the requirements of the end-user industries. The Asia-Pacific region is the fastest-growing segment of the global wood coating market, in terms of volume. This growth is mainly attributed by heavy investment across building & construction industries and the durability and protection benefits offered by wood coating. The Asia-Pacific and RoW markets are estimated to grow at a high CAGR in the next five years. The global wood coating market (2015–2020) is estimated to reach around $9.72 billion by 2020, signifying a CAGR of around 4.77% between 2015 and 2020.
R&D is a key part of this market. The manufacturing companies, associations, and end-product manufacturers infuse high investments for future advancements and technology modifications of wood coating applications to match the new demands coming from various types of applications.
Asia-Pacific is the largest market, both in terms of volume and value. The consumption of wood coating is growing at a higher rate in Asia-Pacific region as compared to Europe, due to growth of building and construction sector in these regions. The key players in this market are Akzonobel, Valspar Corporation, Asian Paints, Sayerlack, RPM International, Sherwin-Williams, Kelly-Moore Paint Company Incorporated, Katilac Coatings Inc., Ashoka Group, and Sterling Polymers and Chemicals among others.
Growth in end-user industries such as building and construction, and furniture industries, Governmental regulations and proposals for improvement of infrastructure, in emerging economies will drive the market. The wood coating demand, in terms of value and volume, depicts the current and future projections according to the parallel economic outlook. This analysis covers important developments, investments & expansions, agreements & partnerships, new product launches and joint ventures of the leading global companies.
The current market size of the wood coating in terms of value is estimated to be around 2.78 Million tons in 2015 and is projected to grow at a CAGR of 5.30% between 2015 and 2020.
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