Wood coatings market: players bank on product differentiation to grow, finds TMR

Presence of numerous companies makes the global wood coatings market highly competitive. Prominent companies operating in the global wood coatings market show high degree of forward integration, which provides them with a decided competitive advantage. Apart from that, manufacturers are also seen focusing on product differentiation to entice more customers. Some of the key players in the market are BASF SE, PPG Industries Inc., the Asian Paints, Nippon Paints Holdings, the Dow Chemical Company, and Sherwin-Williams Company.

The top four companies, namely The Sherwin Williams Company, PPG Industries Inc., Akzo Novel N.V. and RPM International Inc. accounted for almost 60.0% share in the global wood coatings market in 2016. Of them, The Sherwin Williams Company led the market with a majority share of 21.3% in 2016.

Browse Market Research Report @ http://www.transparencymarketresearch.com/wood-coating-market.html

A noticeable trend in the global wood coatings market is the foray of small and medium manufacturers which has served to intensify the competition. Most of them are banking upon product differentiation to establish a foothold in the market.

A report by Transparency Market Research predicts the revenue in the global wood coating market to expand at a healthy CAGR of 8.3% from 2017 to 2025 to reach a value of US$17.595 bn by 2025 from US$8.625 bn in 2016. Volume-wise, it predicts the market to exhibit a CAGR of 7.5%.

Depending upon the type of resin, the global wood coatings market is segmented into polyurethane, acrylics, melamine formaldehyde, nitrocellulose, etc. Of them, the segment of polyurethane accounts for maximum market share and going forward too is expected to retain the share by registering a CAGR of 8.8% between 2017 and 2025. This is because polyurethane is scratch and humidity resistant.

Regionally, the segments of the global wood coatings market studied in the report are North America, Latin America, Asia Pacific, Europe, and the Middle East and Africa. Asia Pacific, among them, leads the market with maximum share powered by the densely populated emerging economies in the region. On account of the rising wealth of people in the region, the sales of furniture has increased and this has led to the growth in wood coatings market in Asia Pacific. The region is slated to grow its dominant share slightly by 2025 to 47.4%.

Make an Enquiry @ https://goo.gl/iX7Cwj

Booming Housing Construction Activities Stokes Growth

Majorly fuelling growth in the global wood coatings market are the growing number of housing construction activities worldwide and the increasing disposable incomes of people which has driven up sales of furniture. Environmental regulations placed on emission of volatile organic compounds (VOCs) is also providing headwinds to the market. As per the lead analyst of the TMR report, “Numerous initiatives for bringing down emission of VOCs have taken by industries and organizations. Growing awareness about coatings with low volatile organic compounds and implementation of safety regulations have resulted in the swift uptake of wooden coatings.”

Fluctuating Raw Material Prices Pose Challenge

Posing headwinds to the market for wood coatings, on the other hand, is the volatility in raw material prices. Acrylic and polyurethane are the primary raw materials used in the manufacture of wood coatings. Since they are dependent on the prices of crude oil, their prices get affected thereby posing a challenge to the market.

Global Wood Coatings Market, by Resin

Polyurethane

Acrylics

Melamine Formaldehyde

Nitrocellulose

Others

Global Wood Coatings Market, by Product

Stains & Varnishes

Shellacs

Lacquers

Others

Global Wood Coatings Market, by Technology Analysis

Oil based

Water based

Solvent based

This review is based on the findings of a TMR report, titled, “Wood Coatings Market (Resin – Polyurethane, Acrylics, Melamine Formaldehyde, and Nitrocellulose; Product - Stains and Varnishes, Shellacs, and Lacquers; Technology - Oil Based, Water Based, and Solvent Based; Application - Furniture, Cabinets, and Side and Deck) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 - 2025.”

Welding Products Market Growth in Wind Power Sector to Create Opportunities, TMR

The global welding products market is moderately fragmented with the key players such as Lincoln Electric, ESAB, and ITW leading in the market. These three players accounted for a collective share of 30% in 2013, states a new report by Transparency Market Research (TMR). This market is capital intensive and thus, local vendors find it difficult to compete with the larger players. Local players are unable to compete with large players on the basis of quality, services, functionalities, and features. Thus, these small players are entering into the market by introducing products that are low in price. Some of the players operating in the welding products market are: Voestalpine AG, Sonics & Materials Inc., Fronius International GmbH, Rofin-Sinar Technologies Inc., Arcon Welding, Bohler, Panasonic, Daihen Corp, and OBARA Co. In order to increase their production capacities and focus on innovations, companies are adopting the strategy of merging or acquiring other players. Acco

Rapid Prototyping Market - Rapidly Gaining Importance in Aerospace Sector, Research By 2024

Rapid prototyping is a technique in which the physical modeling of a design is done with the help of specialized machining technology. It was developed initially in the mid-1980s, the principle used in this technology is of solid modeling with the help of computer programs (i.e. CAD). Solid modeling makes use of computer aided-design (CAD) data to completely describe not just the external shape of parts or equipment, but its interior volume as well as the outside surfaces. The computer model is sliced into thin layers and the part of the product or commodity to be modelled or developed as per the requirement, is eventually fabricated by adding layers onto each other. Obtain Report Details @ http://www.transparencymarketresearch.com/rapid-prototyping-market.html The primary benefit of the system is that almost any shape can be manufactured using computerized programs. Time and money savings vary from 50% to 90% compared to conventional systems. Types of rapid prototypi

Oil and Gas Pipeline Leak Detection Equipment Market Driven by Stringent Government Regulations

Although renewable resources of energy have gained substantial popularity in the recent past, there is no foreseeable limitation to the escalating demand for oil and gas, with the growing population and rapid urbanization. Consequently, the demand in the global market for oil and gas pipeline leak detection equipment is projected for a robust CAGR of 6.8% during the forecast period of 2016 to 2024, according to a recent report by Transparency Market Research (TMR). As per the estimations of the TMR report, the global oil and gas pipeline leak detection equipment market will be worth US$3.65 bn by the end of 2024, significantly up from its evaluated valuation of US$2.02 bn in 2015. Some of the key factors augmenting the demand in the oil and gas pipeline leak detection equipment market are: development and expansion of existing pipelines and construction of new pipelines, increasing incidents of oil and gas leakages in pipeline and storage tanks at production facilities, and

Market Research Reports

Search This Blog