The Wood coatings are chemical
interpretations commonly utilized for the wood processing. These coatings
deliver the greater quality on the wood surface and are utilized for the
variety of purposes, which involve the better hygiene, stabilization, and decoration
of wood. These coatings are broadly utilized for enhancing wood's shelf life
and aesthetic worth. They are utilized in the several industries such as food
packaging industry, building & infrastructure, furniture, and many others.
According to the report analysis, ‘Europe
Wood Coatings Market by Resin Type (Polyurethane, Nitrocellulose,
Acrylic, Unsaturated Polyester, and Others), Technology (Waterborne,
Conventional Solid Solvent Borne, High Solid Solvent Borne, Powder Coating,
Radiation Cured, and Others), and Application (Furniture, Joinery, Flooring,
and Others): Opportunity Analysis and Industry Forecast, 2019-2026’ states that
in the Europe wood coating market there are several corporates which recently
operating more effectively for leading the highest market growth and
registering the greatest value of the market share around the globe throughout
the near years while decreasing the linked prices, increasing the applications
of the wood coatings, implementing the profitable strategies, advancing the
specifications of the production technologies, spreading the awareness related
to the wood coatings, analyzing the strategies of the competitor’s, delivering
the better consumer satisfaction and employing the young work force includes
Akzo Nobel N.V., Axalta Coatings Systems, BASF SE, Jotun, Eastman Chemical
Company, Kansai Paint Co., Ltd., Wendel Group, PPG Industries Inc., Tikkurila
OYJ, Teknos Group and several others.
In addition, the Europe wood
coatings market was worth at USD 2.4 billion in 2018, and is projected to reach
USD 3.9 billion by 2026, increasing at a CAGR of 6.0% from 2019 to 2026. The
speedy growth of the building & construction industry is one of the
essential factors that propels the growth of the Europe wood coating market. Growth
in construction activities around the Europe fuels the requirement of the wood
coatings. German government is now aiming on modernization of prevailing
infrastructure and has laid down a new federal transport schedule that is
probable to be the biggest investment program on infrastructure across the
world. This massive investment for infrastructure modernization is projected to
propel the Europe wood coating market.
Wood coating can be engaged on
great scale as it is the most effectual, cost-effective, and environmentally
outgoing coating. Furthermore, augment in the disposable income of consumers
and increase in the standard of living fuel the requirement for the modern
furniture such as chairs, tables, shelves, bed frames, cupboards, and chests of
drawers across the Europe. This is further predicted to drive the requirement
for wood coatings.
However, the stringent
environmental regulation imposed by the European government & numerous
other regulatory bodies on the usage of volatile organic compounds (VOC) in the
establishment of wood coating is projected to restrict the growth of the Europe
wood coatings market. This is accredited to the fact that augmented the use of
VOCs in the production of wood coatings has destructive impact on the
environment.
In addition, the volatile raw
material prices detain the growth of the market. On the other hand, advancement
in the coatings technology and surge in usage of the radiation cure coatings
are some of the aspects that deliver the lucrative opportunities for the growth
of the Europe wood coating market. Therefore, in the near years, it is
predicted that the market of wood coating in Europe will increase around the
globe over the forthcoming duration.
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