This market research report presents a detailed segmentation of the global furniture wood coatings market by technology such as solvent-borne, water-borne, radiation cured, and powder coatings. It provides a market share analysis and projections of its key regions, including Americas, APAC, and EMEA. Key findings also include an industry analysis of the leading vendors such as AkzoNobel, BASF, PPG, Sherwin-Williams, and Valspar.
Technavio has released updated information on the coating market, with the publication of its new market research report, global furniture wood coatings market. The furniture wood coatings market is expected to grow at a CAGR of around 7% between 2015 and 2019, owing to high growth of the furniture industry and recovery of the housing market. APAC is expected to be the fastest growing region in the global market for furniture wood coatings due to increase in the export of furniture.
“Use of powder coatings are in great demand in the market due to their high solid content and low VOC emissions. Market vendors are developing such wood powder coatings that have a low baking temperature, to ensure negligible damage to the heat-sensitive wood. Also, UV cured powder coatings have gained prominence among consumers as they require a shorter process time and are cost-efficient. These UV cured water-borne coatings have found wider applications for on-site flooring, joinery and furniture,” says Sriram Mohan, Lead Analyst, Chemicals & Materials, Technavio Research.
The introduction of natural wood coatings by vendors is driving the demand for this market. For instance, Vermont Natural Coatings offers PolyWhey coatings, derived from recycled whey proteins. Besides, key vemdors in the market such as AkzoNobel, Sherwin-Williams, and Valspar are offering customized wood coatings that have application-specific solutions.
The leading vendors in the furniture wood coatings market are AkzoNobel, BASF, PPG, Sherwin-Williams, and Valspar. The market is highly fragmented with the presence of global and regional suppliers. The use of wood in diverse applications has spurred the growth of new domestic vendors. Providers in the market compete on the basis of price, innovation, quality and performance, and customer-centrism.
A more detailed analysis is available in the Technavio report Global Furniture Wood Coatings Market 2015-2019.
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