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Wood Coating Resins Market Size To Witness A Phenomenal Growth

Author : Ronak Bora | Published Date : 2019-06-06 

Global Market Insights, Inc. has recently added a report on Wood Coating Resins Market size which provides a succinct analysis of the market size, revenue forecast, and the regional landscape of this industry. The report also highlights the major challenges and current growth strategies adopted by the prominent companies that are a part of the dynamic competitive spectrum of this business sphere.

Wood Coating Resins Market size is anticipated to grow at an exponential rate from 2017 to 2024. A positive outlook towards the construction industry across the globe will primarily drive the industry growth. Rising demand of these finishes due to maintenance activities of existing wood items will further escalate the product penetration. Enhanced living standards have led to proliferating demand for decorative varnishes, positively impacting the industry over the next eight years.

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Shifting consumer preference towards Do-it-Yourself methods in developed countries will provide stable growth prospects for the wood coating resins market. This can be attributed to the rising need to improve furniture aesthetics. Moreover, advanced UV protection covering and growth in upcoming eco-friendly products are other factors strengthening the product penetration over the coming years.

Wood coating resins market products segment includes acrylic, polyurethane, alkyd, polyester, nitrocellulose, and epoxy. Polyurethane resins are anticipated to dominate the industry over the next eight years. These resins result in the development of hard surface courts with enhanced properties. Provision of benefits such as exceptional chemical & physical resistance and versatility will further propel the industry growth till 2024.

The industry can be segmented based on technology into reactive, water borne, solvent borne, and dispersion. Waterborne is expected to grow rapidly owing to significant application properties as compared to its counterpart technologies. Provision of numerous advantages, including early chemical resistance, hardness, and print & block resistance will further strengthen the demand for this technology over the next eight years.

By end-users, wood coating resins market is segmented into cabinet, furniture, windows & doors, and flooring. Furniture segment is expected to hold maximum market share over the coming years. High product demand in indoor & outdoor furniture across the globe owing to a large range of functions will primarily drive the industry growth. The significant properties of these resins such as resistance to water, abrasion, and dirt are of utmost importance in furniture coatings. This is likely to result in high adoption of these resins, thereby supporting the industry dominance.

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North America wood coating resins market will grow rapidly owing to recovery of refinishing & cabinetry activities across the region. Favorable regulatory landscape and rising demand for more sustainable products will further support the industry region. The rising need of home decorators, along with environmental pressures will contribute significantly towards the Europe wood coating resins market till 2024.

Arkema Group, Helios Group, Nuplex, Royal DSM, Synthopol Chemie, Akzo Nobel, and Allnex are among the prominent participants in wood coating resins market size.

About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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