London, 14 July 2015: Technavio, the independent tech-focused global research firm, has published a report on the wood coatings market in Europe 2015-2019, which is expected to grow at a CAGR of 5.71% during the period of 2014-2019.
Strong growth of the housing market is a major factor that propels growth in this market. In Western Europe, the rising demand for wood coatings for home improvement will propel the demand for wood coatings demand. Also, the introduction of customizable coatings and new products that have a unique mix of functionalities and properties are also expected to bolster market growth in this region.
“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,” says Faisal Ghaus, Vice President of Technavio.
“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.”
Key Market Drivers:
- Increase in Demand for Application on MDF.
- Innovations in Acrylic-based Wood Coatings.
- Strong Demand for UV-cure Wood Coatings.
- Emergence of Central and Eastern Europe.
- High Demand for Parquet Flooring Applications.
Key Market Trends:
- Introduction of Natural Wood Coatings.
- Focus on Products for Exterior Wood Applications.
- Unique Formulations.
- Increasing Research on Nanotechnology-based Products.
Key Market Vendors:
- Akzo Nobel NV
- DAW
- Jotun A/S
- PPG Industries Inc.
- Sniezka SA
- Tikkurila Oyj
- Valspar Corp.
To define the market circumstances in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges, and trends featuring data on product segmentations, vendor shares, growth rate by revenue, and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
