Research Report Insights (RRI) delivers key insights on the wood preservative coatings market in its latest report titled, “Wood Preservative Coatings Market by 2027”. According to the report, the global wood preservative coatings market is projected to expand at a healthy CAGR of 6.1% during the forecast period in terms of revenue. Wood preservative coatings are the coatings applied on the wood for its interior as well as exterior protection. Interior protection includes protection from decay and insect/fungi/mold and exterior protection includes protection from harsh weathering condition. The choice of wood preservative coatings depend on the type of wood and upon the biological hazards in to which the wood is to be exposed. In this report wood preservative coatings are considered as a whole for both internal as well as for external protection of wood products. The wood coatings are primarily based two types of systems (solvent-borne and water-borne) which can also be called as technology. When a solvent is used to disperse a resin (binder) it is called as solvent-borne and when water is a dispersing medium for a resin (binder) it is called as water-borne. Currently, the market is at a stable position and is set to witness a healthy CAGR of 6.2% between 2017 and 2027 to reach a valuation of US$ 6,433,194 Mn.
Volume share of water-borne wood preservative coatings is higher among all the regions. The increasing awareness about the benefits of water-borne coatings and strict environmental regulations is expected to boosts the water-borne system type. However, currently the solvent borne system type dominate the wood coatings market owing to its flexibility and technical advantages, the ongoing developments in the water-borne system type to increase its competitiveness will drive the growth for water-borne system types. For instance, Dow Chemical Company developed a water-borne type new alkyd composition coatings with excellent performance. Some of the advantages of water-borne system type, helping to drive the market in the region are low toxicity and flammability, low HAPs and VOCs emissions, reductions in air emissions and excellent adhesion
Increasing awareness about environmental concerns because of low quality and harmful additive in the wood coatings, the market in matured markets such as North America and Eastern Europe are turning towards adoption of sustainable wood preservative coatings. UV- curing and water-based coatings are trending in the regions with the companies such as BASF SE, AkzoNoble N.V, the Dow Chemical company increasing it penetration of eco-friendly product portfolio. For instance, in 2014, BASF SE developed UV dispersions for the furniture industry among others owing to demand for eco-friendly products.
Key driving factors identified in the global wood preservative coatings market include safety regulations and technical standards across regions, increasing investments of furniture and coating manufacturers, Green certifications in U.S etc.
Global wood preservative coatings market is segmented on the basis of system type, coating type and by region. The Key regions covered in the report are North America, Western Europe, Asia-Pacific excluding Japan, Eastern Europe, Middle East & Africa, Latin America and Japan.
The report analyses the global wood preservatives coatings market in terms of volume (Tons) and value (US$ Mn) by of system type and coating type, and provides insightful information regarding the value chain, market trends, competitive landscape, market dynamics and market estimations and forecast.
Key market participants covered in the report include Akzo Nobel N.V., BASF SE, The Dow Chemical Company, The Sherwin-Williams Company, PPG Industries, Inc, Valspar Corporation, Industrias Quimicas Kupsa S.L., RPM International Inc., Lonza Group Ltd, KMG Chemicals, Inc.