Research Firm Releases Report on the Market for Wood Coatings
DUBLIN – Research and Markets has added a new report, Wood Coatings: Technologies and Application Markets, to its offering.
In the report, the global market for wood coatings technologies and applications is analyzed with data from 2017 and 2018. The study projects compound annual growth rates (CAGRs) through 2023 and analyzes the demand for wood coatings, which is driven by customer expectations regarding performance, ease of application, sustainability, quality, functionality and environmental properties. It characterizes and quantifies the market potential for wood coatings technologies by product type, application area, end-use industry and major geographical regions.
Hardwoods are used to manufacture furniture, and softwoods are used to manufacture stud partitions, external fences, doors and roofs. Both hardwoods and softwoods can be used for wooden flooring. Hardwoods are more expensive than softwoods, and both wood types have different features and aesthetics. Wood grains also differ by wood type. Every wooden structure is coated some type of coating to enhance the color and grain of the timber, making wood coatings essential to many manufacturing and building processes. Coatings also enhance the life of products made with wood.
Varnishes, shellacs, preservatives, dyes, repellents and lacquers are the most common types of coatings for wooden surfaces. Distinguishing features and durability are driving the demand for such products. In terms of coating techniques, wood product manufacturers use a variety of processes, including conventional spray, high-volume low-pressure spray, airless spray and electrostatic spray.
The demand for other wood surface coating techniques, such as rollers and brushes, is expected to rise with the increase in demand for wood products. Different coating techniques are used based on the size, shape and complexity of the product surface. The type of wood coating product used for a specific application depends on the exposure of the surface, with interior verses exterior applications of the product determining the types of coating to be applied.
The need for wood coatings solutions is directly related to the demand for wood products, and the report predicts that the rise in demand for household and commercial buildings will drive demand for wood products, including furniture, cabinets, flooring and decking, which in turn will drive the global wood coatings market during the forecast period.
According to the study, demand for cargo ships is expected to rise due to increased trade. The demand for passenger and cruise ships is further expected to increase due to a rise in disposable income globally. This demand for cargo and passenger ships will lead to an increasing need for wood to manufacture and decorate the interior of ships, which will lead to an increase in demand for wood coatings. The report also predicts that demand for moisture-resistant and UV-retardant wood coatings will increase among ship manufacturers as they protect ships from exposure to water and sunlight.
The study expects that demand for wood coatings for exterior fencing will also increase during the forecast period, as consumers prefer the appeal provided by wood fencing around buildings and other properties. The maintenance of antique wood structures and the process of coating specially designed handcrafts are other factors expected to drive the market for wood coatings during the forecast period.
For more information, visit https://www.researchandmarkets.com/r/hcelpz.