WOOD PROTECTION COATINGS MARKET ANALYSIS, GROWTH TO 2020: GRAND VIEW RESEARCH, INC.

Wood Protection Coatings Market Analysis, Growth To 2020: Grand View Research, Inc.

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Wood protection coatings market is expected to witness significant growth over the next six years on account of rising construction spending coupled with increasing demand for furniture, sliding and decking products. Increasing demand for wood products in luxury cars and cruises is expected to augment demand for protection coatings thereby increasing its market share. Growing demand for wood protection coatings in residential applications including cabinets and floorings is expected to propel market growth. Moreover, escalating demand for solvent-free epoxy coatings due to its higher coating thickness coupled with negligible shrinkage is expected to drive market growth.Furthermore, Brazil is expected to show substantial growth in the construction industry thereby driving demand for wood protection coatings. Increasing usage of alternative materials including plastics and wood-plastic composites is expected to restrain market growth over the forecast period. However, biodegradable coatings are expected to serve as market growth opportunity over the next six years owing to increasing consumer awareness towards environment protection.
Growing demand for coatings including paints, primers, stains and sealers in furniture & flooring, construction, art & decoration is expected to augment market growth. EPA recommendation to reduce use of chromate copper arsenate (CCA) in wood coatings owing to its adverse impact on the environment is expected to pose negative impact on market growth. Key market players include DuPont, AkzoNobel, Wacker Group, Sentinel Products Incorporated, BASF Coatings, PPG Industries, Sherwin-Williams, Dow Chemical Company, Ashland Inc. and Valspar Corporation. AkzoNobel introduced innovative wood coatings which possess high quality and are used in numerous applications including windows, door, wood crafting, saw mills and coating of terrace decking and garden wood. BASF introduced coatings which provide balance between coating properties and performance attributes including high transparency, early block resistance and good chemical and scratch protection.

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