Wood Coatings Market in Europe 2015-2019
About Wood Coatings
Coatings used on wooden substrates are commonly called wood coatings. Wood coatings may be formulated using various types of resins such as acrylic, amino, polyester, polyurethane, and nitrocellulose. However, the market may be broadly classified into four based on coating technologies: solvent-borne, water-borne, radiation-cure, and powder coatings. Wood coatings are used on furniture, decking, flooring, and joinery.
Technavio's analysts forecast the wood coatings market in Europe to grow at a CAGR of 5.71% over the period 2014-2019.
Covered in this Report
This report covers the present scenario and the growth prospects of the wood coatings market in Europe for the period 2015-2019. To arrive at a ranking of the leading vendors of the market, and to calculate the market size, the report considers the revenue generated through the sales of wood coatings by vendors. It also presents the vendor landscape and a corresponding detailed analysis of the seven vendors in the wood coatings market in Europe. The report also provides data on the different segments of the market, which are based on the following criteria: technology (solvent-borne, water-borne, radiation-cure, and powder coatings) and applications (furniture, decking, joinery, siding, flooring, and other applications such as fencing, flat panels, and MDF).The scope of the report covers both the residential and non-residential end-users, products for DIY and professional use, and products for maintenance and repair. Radiation-cure wood coatings include UV-cure wood coatings and powder UV coatings. The report excludes wood preservatives.In addition, the report discusses the major drivers that influence the growth of the market. It also outlines the challenges faced by the vendors and the market at large, as well as the key trends that are emerging in the market.
Technavio's report, Wood Coatings Market in Europe 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts.
Technavio Announces the Publication of its Research Report – Wood Coatings Market in Europe 2015-2019
Technavio recognizes the following companies as the key players in the Wood Coatings Market in Europe: Akzo Nobel, DAW, Jotun, PPG Industries, Sniezka, Tikkurila Oyj and Valspar
Other Prominent Vendors in the market are: Benjamin Moore, Drywood Coatings, Feyco Treffert, Helios, ICA Group, IVM Chemicals, KAPCI Coatings, Renner, RPM International, Sherwin-Williams, Sirca and Weilburger Coatings
Commenting on the report, an analyst from Technavio’s team said: “Vendors in the chemical industry are making concerted efforts to employ sustainable processes that have minimal impact on the environment. Such activities include the development of eco-friendly products, which also help vendors gain a competitive edge. R&D of eco-friendly products is not a new concept in the industry; however, the sources used for developing these products provide new dimensions for the growth of vendors. The use of bio-based or renewable monomers, such as diols, is being explored in UV cured wood coatings for exterior applications.”
According to the report, MDF is a composite panel manufactured by combining wood fiber and resin. Many solvent-borne and water-borne MDF coatings are available in the market. However, recent technological advances have made it possible to use powder coating products on MDF. MDF vendors are increasingly opting for thermoset powder coatings over liquid-based alternatives as they offer better durability and design freedom. Additionally, life cycle assessment studies have found that powder-coated MDF has a lower carbon and ecological footprint than solvent-borne and water-borne coating systems. Powder-coated MDF products are used in end-use markets such as office furniture, institutional furniture, and kitchen cabinets.
Further, the report states that the lack of product focus in the market is hindering the market growth.
Akzo Nobel, DAW, Jotun, PPG Industries, Sniezka, Tikkurila Oyj, Valspar, Benjamin Moore, Drywood Coatings, Feyco Treffert, Helios, ICA Group, IVM Chemicals, KAPCI Coatings, Renner, RPM International, Sherwin-Williams, Sirca, Weilburger Coatings