Global Wood Coatings Market Size, Share, Development, Growth and Demand Forecast to 2024 © Coherent market Insights. All Rights Reserved REPORT DESCRIPTION • Wood coatings are additives or mixtures that are added to the end wood product primarily to preserve the overall quality (durability, color and texture) of the finished item. The coating is applied after the wood surface is stained and prepared. The process of applying coating to a finished wood product is known as wood finishing. Finishing is the last step of the production process and provides desirable characteristics such as moisture resistance, heat resistance, increased durability, and enhanced appearance to the wood surface. Finishing also helps in keeping the end product sanitized and easier to maintain. • Manufacturers of wooden furniture and related furnishing resort to wood finishing to provide low-cost wood with an appearance and texture that makes it look like a higher end wood item. These products are mainly intended for sales in price-sensitive markets such as Asia Pacific and Latin America. According to a study conducted by Coherent Market Insights (2016), around 68% of the population in India is inclined towards buying low-priced wood items that look premium. These consumers do not lay emphasis on the quality of the wood and mainly focus on aesthetic appeal. © Coherent market Insights. All Rights Reserved Microspheres Materials Market Taxonomy • • • • • • • • • On the basis of product type, the global market is segmented into: Shellac Wood Preservatives Water Repellents Stains Linseed Oil Beeswax and Carnauba wax mixtures Acrylic Paint Others © Coherent market Insights. All Rights Reserved Market Segmentation • Growing construction sector coupled with increasing population is estimated to boost the global wood coatings market over the forecast period. According to a study conducted by Coherent Market Insights, the global construction industry is projected to be pegged at over US$ 15 trillion by 2024, with Asia Pacific positioned as the growth engine (the regional market is expected to witness a massive 30% CAGR over 2016– 2024). Growing population is a key factor towards the growth of the construction industry. Wood is one of the most widely used materials in the retail sector. Major retail players focus on effective merchandising of products at retail outlets. These products are usually propped up on wooden shelves and displays. Thus, rapid growth of retail industry is also fueling growth of the wood coatings market. Request a sample pdf Copy of report@ https://www.coherentmarketinsights.com/insight/request-sample/261 © Coherent market Insights. All Rights Reserved Key Strategies • Asia Pacific is expected to retain its dominance in the global wood coatings market throughout the forecast period. Conversely, health issues associated with the coating ingredients is one of the major restraining factors for the growth of the wood coatings industry. Coatings when in direct contact may lead to health issues such as skin and eye irritation and asthma. In addition, when in constant contact with air and sun the coatings may fade over time making the damage areas look yellowish. • Manufacturers are focusing on product innovation as a part of their business strategy to cater the rising demand of their customer base. For example, Premium Coatings And Chemicals Pvt Ltd., a specialized coatings manufacturer based in India, offers natural wood coatings for furniture’s and has also introduced silk wood sealer, glossy and matte that offer excellent adhesion, enhanced heat resistance and no yellowing features. Some of the major companies operating in the global wood coatings market are BASF SE, Arkema SA, Ashland Inc., RPM International Inc., Hempel A/S, AkzoNobel N.V., Premium Coatings and Chemicals Pvt Ltd. And Nippon Paint Co. Ltd. © Coherent market Insights. All Rights Reserved ABOUT COHERENT MARKET INSIGHTS ABOUT US Coherent Market Insights is a global market intelligence and consulting organization focused on assisting its plethora of clients achieve transformational growth by helping them make critical business decisions. We are headquartered in India, with an office at the global financial capital in the U.S. Our client base includes players from across all business verticals in over 150 countries worldwide. We are uniquely positioned to help businesses around the globe deliver practical and lasting results through various recommendations about operational improvements, technologies, emerging market trends and new working methods. 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