Wood coatings refer to the process of protecting a wooden surface, particularly in the production of furniture. The expectation of superior quality wood surface has led to the invention of Wood Coatings. The basic functions of these coatings are better stabilization, hygiene and decoration of wood i.e. to modify the properties of the coating such as viscosity, gloss, impact resistance, foam, etc.
There are different technologies and materials used for achieving this purpose; UV curing wood coatings being one of the most important evolutions in this field. This segment is projected to be a potential unit in the coming few years for the Wood Coatings Market.
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Market Driving Factors:
The top most contributing driving factors of the Wood Coatings Market, as surveyed by IndustryARC’s research analysts are:
• The growth within the housing market is clearly the primary driver for the wood coatings market.
• Growing awareness among users and formulators about the benefits of wood coatings, and strong growth in end user markets is also leading market driver of the global sales of this industry.
• Building and infrastructure, furniture and food packaging industries are one among the top application segments propelling the global revenue of this market.
• Another important reason for the rise in wood coating industry is the protection of the wood from bacteria and other harmful organisms.
Geographical Study of the Market:
Asia Pacific is presently the biggest marketplace for wood coatings, followed by Europe, North America and rest of the world (RoW). Sustained demand from the developed markets and burgeoning demand from rising economies can still drive the wood coating market. The business is witnessing a serious shift of key market players from Europe and therefore the U.S. to the rising economies of Asia Pacific,...