The growth of wood coatings market is expected to be primarily driven by the recent rebound in the North American housing industry and steady growth in furniture consumption.
Stringent environmental regulations to reduce VOC emissions in EU and NA are expected to drive demand for safe and sustainable products. This will lead to technological advancements, in terms of introducing high-performance and cost-efficient waterborne and radiation-cured coatings.
Although solvent-borne coatings currently dominate the market for use in residential applications in both EU and NA, its share is expected to gradually decrease by 2021 owing to robust growth in waterborne and UV-cured coating technologies.
Increasing share of wood plastic composites as a substitute for wood in residential construction is expected to affect the wood coatings market in NA and EU over the long term.
Reduced customer spending, especially new investment in housing, in Europe and the increasing demand from Do-It-Yourself (DIY) customers in North America, particularly for renovation, are likely to drive sales through the retail channel.
About this report
This research service analyzes the European and North American market for wood coatings and resins. The product segments covered are wood coatings by regions, technologies (solvent-borne, waterborne and UV-cured), applications (siding; decking; flooring; doors and windows; furniture and kitchen cabinetry) and resin chemistries (acrylic, polyurethane, nitrocellulose, polyester). Major industry drivers, restraints, regulatory trends and technology trends affecting the European and North American wood coatings resins market in the construction industry are also discussed. Unit shipment and revenue forecasts by region have been provided for the period 2011–2021. At the segment level, the analysis focuses on the dynamics in North America and Europe; regional-level vertical market discussion and splits have been provided for applications/technology/resin chemistries. Competitive structure and market share data have been provided for each segment. The base year is 2014, and the forecast period ends in 2021.
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