“Improved versions of acrylic-based wood coatings with
enhanced performance characteristics are driving the global;
furniture wood coatings market. For
instance, Dow offers self-crosslinking
acrylic and acrylic-polyurethane resins
for water-borne wood finishes. Water-borne self-crosslinking acrylic resins offer
key benefits such as chemical resistance,
high durability, low volatile organic compound (VOC) emissions, and quicker
release of coalescence on blending with
polyurethane dispersions. Owing to these
favorable market conditions, acrylic-based water-borne wood coatings are expected to post a CAGR of 6 percent over
the next four years,” said Piyush Mishra,
one of Technavio’s lead analysts for
paints, coatings, and pigments research.
“Vendors in the chemical industry are
making concerted efforts for employing
sustainable processes that have minimal
environmental impact. Such activities
include the development of eco-friendly
products, which helps vendors gain a competitive edge in the market. New entrants
that offer innovative and green solutions
are therefore expected to grow significantly in the market,” added Piyush.
The top three segments of the global
furniture wood coatings market by tech-
nology are solventborne, waterborne and
radiation-cured coatings
The global solventborne furniture
wood coatings market is expected to
grow steadily at a CAGR of close to 6
percent during the forecast period. As
few alternative technologies meet the
performance characteristics of solvent-
borne wood coatings, they are preferred
for many applications. These products
are also priced economically compared to
other technologies.
A growing focus by vendors on high
solid solventborne formulations that emit
lower VOCs is a major trend in the market.
Suppliers in the market are introducing
innovative raw materials for such formulations, and it is positively impacting the
global wood coatings market and prompting growth over the next four years.
Technavio’s researchers expect a
strong growth phase for the global wa-
terborne furniture wood coatings market
during the forecast period. Low VOC
content in these coatings has fostered
high adoption in developed regions where
stringent regulations encourage low emis-
sion levels.
An increase in consumer preference
for waterborne coatings in APAC is another emerging driver for this market. The
growth of the furniture industry in this
region is contributing to market expansion, with China being a leading consumer
of water-borne coatings for wood. Ease
of application of water-borne coatings
on wood, compared to radiation cured
coatings, and powder coatings is likely to
further increase its demand in upcoming
markets during the forecast period.
The radiation cured coatings segment is expected to be the fastest growing segment in the global furniture wood
coatings market because of its superior
performance characteristics in furniture applications as well as others such
as flooring and paneling. On account of
these factors, wood substrates currently
account for over 38 percent of the global ultra violet (UV) and radiation cured
coatings market. In addition, factors such
as cost and energy savings are also expected to result in higher adoption, and
it will therefore augment the demand for
radiation-cured coatings until 2019.
High Performance Anti-
Corrosion Coatings Market
to Account for $18.22
Billion in Revenue by 2023
Transparency Market Research has
published a new report titled “High
Performance Anti-corrosion Coatings
Market - Global Industry Analysis, Size,
Share, Growth, Trends and Forecast 2015
- 2023.” According to the report, the global high performance anti-corrosion coatings market was valued at $11.95 billion
in 2014 and is anticipated to reach $18.22
billion by 2023, expanding at a CAGR of
4. 8 percent between 2015 and 2023.
Rising demand for high performance
anti-corrosion coatings in oil and gas,
marine, power generation, construction,
and other industries is estimated to positively impact the market growth by 2023.
High performance anti-corrosion coatings
provide a barrier against corrosion for
substrates that are frequently subjected to
high temperature and harsh corrosive con-
ditions. The oil and gas industry is antici-
pated to be the major growth driver of the
high performance anti-corrosion coatings
market by the end of 2023. These coatings
are widely employed in the oil and gas in-
dustry, especially in coating applications
for oil rig components, drilling equipment
and machinery, offshore vessels, and trans-
mission pipelines. Tanks and pipes and
power generation are alternative grow-
ing end-user segments of the high perfor-
mance anti-corrosion coatings market.
Increase in population and disposable
income of consumers in developing countries such as China, India, and countries
in ASEAN and GCC are likely to boost
the development of oil and gas, marine,
and power generation sectors. This, in
turn, is expected to fuel demand for high
performance anti-corrosion coatings owing to their wide functionality in these
industrial sectors by 2023. Consumption
of high performance anti-corrosion coatings in key downstream markets in Asia
Pacific, especially in the construction of
steel and metal infrastructure for transport, is another major factor driving
demand for high performance anti-corrosion coatings. However, volatility in prices of crude oil and raw materials derived
from primary petrochemicals coupled
with strict governmental regulations on
VOC emissions in developed regions is
estimated to restrain the market growth
during the forecast period.
In terms of demand, epoxy coatings
was the largest product segment, accounting for more than 55 percent share of the
global high performance anti-corrosion
coatings market in 2014. However, acrylic
coatings are projected to boost the market
growth during the forecast period as it is
the fastest-growing product segment.
In terms of demand, Asia Pacific dominated the global high performance anti-corrosion coatings market in 2014. This
trend is expected to continue in the region
in the near future. Growth of key end-users such as oil and gas, construction, marine, and power generation is expected
to boost demand for high performance
anti-corrosion coatings in the next few
years. Demand for high performance
