In a recent published report, Kenneth Research has updated the market report for Wood Coating Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Wood Coating Market products.
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Further, the market is projected to grow on account of the growing trade in chemicals worldwide. The European Union recorded to be the largest exporter of chemical products around the globe in the year 2019. The region was also the second largest importer of chemical products after the United States in the same year. The exports of chemicals in Europe, according to the statistics by Eurostat, grew from USD 323.49 billion in 2010 to USD 504.83 billion in 2020. Moreover, the imports of chemicals in the region grew from USD 205.64 billion in 2010 to USD 285.91 billion in 2020.
“Final Report will add the analysis of the impact of COVID-19 on this industry.”
Global Wood Coating Market was valued at USD 9,889 Million in the year 2018. Global Wood Coating Market is further estimated to grow at a CAGR of 8.2% from 2019 to reach USD 17,230 Million by the year 2025. Asia-Pacific region holds the highest Market share in 2018 and Europe Market is considered as the fastest growing Market in the forecasted period. At a country level, developed Market like China holds the notable Market share in 2018 and it is projected to grow at a gradual rate in the coming years.
Segmentation done on the basis of Resin includes Polyester, Polyurethane, Nitrocellulose, and Acrylic of which the Acrylic segment is expected to hold the highest Market share during the forecast period. On the other hand, segmentation done on the basis of Technology include Solvent-borne, Water-borne, and UV-cure of which Water-Borne segment is expected to grow at the XX% CAGR during the forecast period.
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Major market players in Wood Coating Market are The Dow Chemical Company, Kansai Paint Co. Ltd., Helios Group, KAPCI Coatings, Benjamin Moore & Co., Drywood Coatings B.V., Diamond Vogel, Akzo Nobel N.V., The ICA Group, NIPPON PAINT Co. Ltd., and 9 more companies information is provided in the report.
SWOT Wood Coating Market
Strength:
Rising Infrastructural development
Weakness:
Government Regulation in different countries
Opportunities:
Growing demand for low VOC Coatings
Threats:
High price for affordability
Wood Coating Market Overview, By Product Type
*Shellacs
*Stains & Varnishes
*Lacquers
*Others
Wood Coating Market Overview, By Resin
*Polyester
*Polyurethane
*Nitrocellulose
*Acrylic
*Others
Wood Coating Market Overview, By Technology
*Solvent-borne
*Water-borne
*UV-cure
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Wood Coating Market Overview, By Application
*Decks and Cabinets
*Doors & Windows
*Furniture and fixtures
*Others
Wood Coating Market Overview, By Region
North America
*USA
*Canada
Europe
*Germany
*U.K.
*France
*Italy
*Rest of Europe
APAC
*China
*India
*Japan
*Rest of Asia-Pacific
RoW
*Latin America
*Middle East & Africa
Reasons to Purchase this Report
*Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
*Provision of market value (USD Billion) data for each segment and sub-segment
*Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
*Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
*Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions and acquisitions in the past five years of companies profiled
*Extensive company profiles comprising of company overview, company insights, product benchmarking and SWOT analysis for the major market players
*The current as well as future market outlook of the industry with respect to recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
*Includes an in-depth analysis of the market of various perspectives through Porter’s five forces analysis
*Provides insight into the market through Value Chain
*Market dynamics scenario, along with growth opportunities of the market in the years to come
*6-month post sales analyst support
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About Kenneth Research
Kenneth Research is a reselling agency providing market research solutions in different verticals such as Automotive and Transportation, Chemicals and Materials, Healthcare, Food & Beverage and Consumer Packaged Goods, Semiconductors, Electronics & ICT, Packaging, and Others. Our portfolio includes set of market research insights such as market sizing and market forecasting, market share analysis and key positioning of the players (manufacturers, deals and distributors, etc), understanding the competitive landscape and their business at a ground level and many more. Our research experts deliver the offerings efficiently and effectively within a stipulated time. The market study provided by Kenneth Research helps the Industry veterans/investors to think and to act wisely in their overall strategy formulation
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