Europe Wood Coatings Market: Segmemnted: by Technology Used(Radiation Cured, High Solid Solvent Borne, Waterborne, Conventional Solid Solvent Borne, Powder Coating, and Others); By End User Vertical (Cabinets, Siding,Joinery, Furniture, Flooring, and Others); and Region -Analysis of Market Size, Share & Trends for 2016 - 2019 and Forecasts to 2030
Europe Wood Coatings Market to surpass USD 937.1 Billion by 2030, which is valued at 491 million in 2019 at a compound annual growth rate of 6.40%
Wood coatings are chemical compounds commonly used in wood processing for various applications. The principal aim of these liquids is to provide the high quality desired on the wood surface. These coatings are also used for a wide range of applications including increased stability, hygiene and timber decoration. Wooden coatings are broadly used for moisture and thermal impact protection of wooden furniture surfaces. This improves wooden item longevity. It also increases the aesthetic appearance of the wooden object, keeping its shine, which has caused it to grow in sales. By the technology used for manufacturing and the purpose of use, different types of wood coverings are available on the market.
According to the report, the growing industry has mainly been driven by the growing construction and infrastructure industries, as well as furniture and food packaging industries. The safety it gives the wood from bacteria and other harmful agents is another significant factor for the growth of the wood coating industry. Various technologies and methods are used for this purpose; Ultraviolet curing wood coatings are one of the most important innovations in this field.
Europe's market has been segmented based on type, waste management method, and location. It has been further segmented by countries into UK, France, Italy, Spain, Germany, and others
The Furniture segment is anticipated to register XX% of the volume share.
Europe Wood CoatingsMarket is segmented by end-user vertical into Cabinets, Siding, Joinery, Furniture, Flooring, and Others In developed countries including Germany, France, and the UK, the rental of furniture is increasing. The market for wooden furniture in recent years has therefore increased particularly because of the people who often move because of their transferable jobs. In turn, this has increased the market for the wood coating to avoid environmental impacts and chemical and termite attacks from increasing mobilizations and to preserve the quality of wood. Moreover, the demand for smart houses with furnished interiors has risen tremendously due to an increase in consumers' disposable revenues and an increase in living standards in developed economies, which is anticipated to fuel the growth of the European wood coating market.
Conventional Solid Solvent Bornesegment accounted for XX% of the nation’s volume in 2019
Europe Wood Coatings market is segmented by technology used into Radiation Cured, High Solid Solvent Borne, Waterborne, Conventional Solid Solvent Borne, Powder Coating, and Others Conventional solid solvent-borne wood coatings are produced from crude oil-based hydrocarbon compounds. The core of this solution hydrocarbon contains all of the solids of the sheet, such as additives, binders, etc. Besides, the solvent offers a certain viscosity for wood coatings, making it possible for some products to quickly apply the coatings and enables rapid drying. It will increase the demand for traditional solid solvent-borne wood layers and will likely contribute to growth in the European wood layer industry.
Need for a sustainable wood
The safety wood coating gives to the wood from bacteria and other harmful agents is another significant factor for the growth of the wood coating industry. Various technologies and methods are used for this purpose, Ultraviolet curing wood coatings are one of the most important innovations in this field. This increases the life of wood and thus finds its application in various end-user industries and thus demand for long-lasting wood coatings is continuously increasing.
Transferable jobs leading to renting of furniture
In developed countries including Germany, France, and the UK, the rental of furniture is increasing. The market for wooden furniture in recent years has therefore increased particularly because of the people who often move because of their transferable jobs. In turn, this has increased the market for the wood coating to avoid environmental impacts and chemical and termite attacks from increasing mobilizations and to preserve the quality of wood.
The market growth is anticipated to be impaired by stringent government and environmental policies on the use of VOCs for wood coating production. The expansion of Europe's wood coating market is further hampered by high raw material prices. Furthermore, low quality or inferior coating tends to remove quickly when subjected to external environmental conditions that will hamper market growth.
In terms of value and volume, Germany accounted for 20% of the total market volume share in 2019
The growth of the automotive and construction industries fuels the demand for wood coatings. Germany contributed to the biggest European wood coating market share in 2019 in the European wood coating industry. Wood coatings from the automotive industry are used in automotive dashboards to provide the interior of the car a shiny finish and give an aesthetic look. Moreover, the demand for wood coverings will increase rapidly as construction is increasing, because they are widely used in furniture and enclosures to resist termite attacks and solvent involvements and improve wood's shelf life.
France is one of the fourth biggest heritage sites and one of the most popular tourist destinations. This has prompted the need for new hotels and restaurants to increase. Hotels are designed with various wooden features that would grant it a modern look, in which wood coatings are used widely. Likewise, the rest of the EU countries are the leading producers and exporters of wooden furniture and products, such as Holland, the Czech Republic, and Poland. The furniture must be secured against different environmental conditions and chemical reactions during export. This element would also possibly contribute to the demand for wood coatings.
Key players depend on national and local suppliers to expand their share and their worldwide economy reach. Mergers and acquisitions are one of the main approaches used in this market. Inorganic growth approaches are being implemented by businesses to meet rising competition in the main emerging markets, such as purchases of wood coating. These tactics helped businesses to build a wider base of customers and partners in the key markets. The needs of end-user segments for wood coating change constantly, making continuous investment in R&D and innovative solutions essential for manufacturers.
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