Wood Coatings: Technologies and Application Markets
Report Scope: This report provides an updated review of the wood coatings market, focusing on its product types, technologies and end-user application. The report provides detailed analysis of key trends and opportunities impacting the market’s growth.
New York, June 27, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Wood Coatings: Technologies and Application Markets" - https://www.reportlinker.com/p05770104/?utm_source=GNW
It also analyzes the challenges faced by manufacturers of wood coatings and end-use application industries.
The report has a separate section highlighting the impact of COVID-19 on the wood coatings market at the global level.The section discusses COVID-19’s impact on wood coating supply and demand.
It also provides information on the impact of prices of wood coating products post-pandemic.
The market sizes and estimations are provided in terms of volume (kilotons) and value ($ millions), considering 2021 as base year, with a market forecast for the period of 2022 to 2027.Regional market sizes, with respect to product types, technology and end-user applications are also provided.
The impact of COVID-19 will be considered while estimating market sizes.
*Report Includes:*
- 114 data tables and 68 additional tables
- An up-to-date overview of the global markets for wood coatings, related products, technologies used for enabling coatings and end-use application areas
- Analyses of the global market trends, with data from 2021, estimates for 2022, and projections of compound annual growth rates (CAGRs) through 2027
- Understanding of opportunities and innovation-driven coatings for wood technologies and applications market highlights, and the major regions and countries involved in such developments
- Evaluation and forecast the wood coatings market size, projected growth trends, and corresponding market share analysis product type, technology, end-use application, and region
- Identification of the segments with high growth potential and to understand future applications of given segments
- Examination of key trends related to applications, types and pulse durations that shape and influence the wood coating industry
- 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
- In-depth information on R&D investment, key technology issues, industry specific challenges, major types of end-user markets, and impact on wood coatings product sales
- Review of the new developments in wood coatings industry, value chain analysis, competitive landscape in the global market, and COVID-19 implications on the marketplace
- A relevant patent data analysis
- Descriptive company profiles of the leading global players, including Arkema, BASF SE, PPG Industries Inc., RPM International and The Sherwin-Williams Co.
*Summary:*
The global market for wood coatings technologies and applications was valued at REDACTED in 2021, and it is expected to reach REDACTED by 2027, growing at a compound annualgrowth rate (CAGR) of REDACTED from 2022 to 2027.
Wood has been used formany centuries in household and commercial applications.Woods are used to enhance the aestheticbeauty of buildings, ships and vehicles. Wood’s durability is the key factor for its wide range of applications. There are two types ofwoods: hardwood and softwood. Beech, oak and mahogany are examples of hardwoods,whereas redwood, firand pine are examples of softwoods. Hardwoods are used to manufacture furniture, and softwoods are used tomanufacture stud partitions, external fences, doors, and roof trusses. Both hardwoods and softwoods can be used forwooden flooring.Hardwoods are more expensive than softwoods. Bothwood types have differentiated features and beauty.Wood grains also differbywood type. Everywooden structure is coatedwith transparent or stain coatings to enhance the color and grains of the timber. Coatings are therefore essentialand are used according to the applications of those structures by their manufacturers. The coating also enhances a product’s life. Ultraviolet (UV)-retardant andmoisture-resistant coatings are the most demanding features ofwood 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 drive the demand for such products.
Coatings are appliedwith the help of a wide range of tools and equipment, the demand for which is expected to increase furtherwith the increase in demand forwood coats and wood items.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 forotherwood surface coating techniques (e.g., rollers, brush, vacuum,
curtain) is furtherexpected to risewith the increase in demand forwood 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. Interiororexterior applications of wood products determine the types of the coating to be applied.
The demand for wood coating solutions is directly related to the demand forwood products, as those coating solutions have been developed for application solely onwooden surfaces.The rise in demand for household and commercial buildings is expected to create ademand for wood products, including for furniture, cabinets, flooring, and decking,which in turn is expected to drive the global wood coating technologymarket during the forecast period.
The demand forpassenger 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 a wide variety of traveling experiences.In 2022, there are many newcruise ships scheduled to set sail.
Many of these have amore modern interior and décor,moving away fromthe conventionalappearance of older cruise ships to a more fashionable design.The goal of such a design is to attract a youngerpopulation.
This evolution is necessary formaking cruise businesses more resilient in the future by drawing the next generation of cruise tourists. According to a recent survey, 37% of Generation Z andMillennials plan to travel internationally this year. In comparison, only 22% of those aged 35 and above expressed the same view, indicating that the younger generationmay be more likely to travel. In addition, cruising is also becoming increasingly popular among younger adults. The numberof Gen Z andMillennial respondents that generally take a cruise holiday climbed from17% to 21% worldwide, showing shifts in consumer choices.
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