Global Wood Coatings Market 2018-2022
About Wood Coatings
Wood coatings enhance the esthetic appeal of wood and protect the surface from physical, mechanical, and chemical damages.
Technavio’s analysts forecast the global wood coatings market to grow at a CAGR of 6.42% during the period 2018-2022.
Covered in this report
The report covers the present scenario and the growth prospects of the global wood coatings market for 2018-2022. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Wood Coatings Market 2018-2022
Technavio recognizes the following companies as the key players in the global wood coatings market: Akzo Nobel, BASF, DowDuPont, PPG Industries, RPM International, and The Sherwin-Williams Company.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is increasing mergers and acquisitions. The rise in M&A in the global wood coatings market is an upcoming trend. Several global and regional vendors enter in to partnerships and collaborations to stay ahead of the competition and strengthen their global presence.”
According to the report, one driver in the market is growing preference for energy-efficient buildings. The demand for environment-friendly materials and the need to construct energy-efficient structures are increasing due to the growing focus of the construction sector to reduce the carbon dioxide emissions. This is encouraging them to focus on the construction of green buildings as they are energy-efficient, environment-friendly, and cause fewer carbon dioxide emissions.
Further, the report states that one challenge in the market is stringent regulations and policies. Manufacturers focus on using environmental-friendly materials that cause minimum or zero harmful emissions to ensure compliance with the stringent regulations imposed by the European Commission and federal government agencies.
Akzo Nobel, BASF, DowDuPont, PPG Industries, RPM International, and The Sherwin-Williams Company.