Increasing investment in the furniture industry is cited as a key factor driving the sales of wood preservative coatings. Moreover, rise in construction activities across the globe has also been influencing the demand for wood preservative coatings of late. Future Market Insights (FMI) delivers such vital information in its latest report on the global wood preservative coatings market. Over the years, application of wood preservative coatings has significantly increased in general industries, decorative, aerospace, coil packaging, auto refinish and special wood coating. The coatings industry is experiencing a shift towards adoption of new technologies such as UV and water-borne, thermosetting emulsion, powder coatings, high-solids, two component systems and colloidal dispersion. The arrival of eco-wood coating products is expected to further boost the global coatings market that was valued at US$ 125 Bn in 2016.
As per the FMI report titled “Wood Preservative Coatings: Global Industry Analysis and Opportunity Assessment, 2017-2027” the global wood preservative coatings market is predominantly contingent upon the performance of the construction and furniture industry. Currently, the market is at a stable position and is set to witness a healthy CAGR of 6.2% between 2017 and 2027 to reach a valuation of US$ 6,433,194 Mn. The report also cites that in future, preference for water-borne coatings will be higher due to their environmental advantages and adherence to VOC emission regulations.
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During this ten years of the forecast, the market for wood preservative coatings in Asia Pacific excluding Japan (APEJ) is expected to present lucrative opportunities for players. In addition, the region’s market is expected to witness an impressive CAGR over 2027. This growth is primarily attributed to the ongoing urbanisation in the APEJ region. Countries such as China and India are the major contributors to the region’s market both in terms of production and consumption. Availability of low-cost resource coupled with increasing investments in furniture industry propels the wood preservative coatings market in the region. In terms of market size, North America will continue to hold the top position through 2027.
Companies are looking to capitalise on opportunities in APEJ by offering cost effective and high solids type of wood coatings. Also, players who have recently entered or planning to initiate operations in the Asia region is likely to receive better consumer response if they offer wood preservative coatings with higher flexibility in application. FMI in its report has profiled some of leading companies operating in the global wood preservative market, which include Akzo Nobel N.V., BASF SE, The Dow Chemical Company, The Sherwin-Williams Company, PPG Industries, Inc, Valspar Corporation,
Industrias Quimicas Kupsa S.L., RPM International Inc., Lonza Group Ltd, KMG Chemicals, Inc.
Preview Analysis on Global Wood Preservative Coatings Market Segmentation By System Type – Solvent-borne, Water-borne; By Coating Type – Preservative (Water Repellent, Fire Retardant, Insect/Fungi Repellent), Stains, Varnishes, Shellacs, Others (Oil, Wax, etc.):
Segmentation analysis of the wood preservative coatings market
Volume share of water-borne wood preservative coatings is higher among all the regions. The increasing awareness about the benefits of water-borne coatings and strict environmental regulations is expected to boost the water-borne system type. However, currently the solvent borne system type dominates the wood preservative coatings market owing to its flexibility and technical advantages. The ongoing developments in the water-borne system type to increase its competitiveness is expected to drive the growth for water-borne system types.
For instance, Dow Chemical Company developed a water-borne type new alkyd composition coatings with excellent performance. Some of the advantages of water-borne system type wood preservative coatings, helping to drive the market in the region are low toxicity and flammability, low HAPs and VOCs emissions, reductions in air emissions and excellent adhesion.
Increasing awareness about environmental concerns because of low quality and harmful additive in the wood preservative coatings, the market in matured markets such as North America and Eastern Europe are turning towards adoption of sustainable wood preservative coatings. UV- curing and water-based wood preservative coatings are trending in the regions with the companies such as BASF SE, AkzoNoble N.V, the Dow Chemical company increasing its penetration of eco-friendly product portfolio.
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Key Segments Covered
The next section of the report includes analysis of the global wood preservative coatings market on the basis of region. The global wood preservative coatings market is segmented into seven key regions:
- North America
- Latin America
- Eastern Europe
- Western Europe
- Asia-Pacific Excluding Japan
- Middle East and Africa
The section that follows analyses the market on the basis of product type and presents the forecast in terms of volume and value for the next 10 years. System type of wood preservative coatings covered in the report are:
- Solvent borne
- Water borne
Another section included in the report is on the basis of coating type that analyses the market and presents the forecast in terms of volume and value for the next 10 years. Applications of wood preservative coatings covered in the report are:
- Water Repellant
- Fire Retardant
- Insect/Fungi Repellant
- Others (Oil, Wax, etc.)
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