Market Trends of Furniture Wood Coatings Industry
This section covers the major market trends shaping the Furniture Wood Coatings Market according to our research experts:
Solvent-borne Coatings Segment is the Largest Segment
The solvent-borne coatings are available at economical prices when compared with other technologies, which is driving the segment’s growth. Solvent borne coatings are used primarily as protective layers in liquid form, which are applied to the surface of a material for corrosion prevention. They comprise of organic compounds, and as a result of the curing property of solvent-borne coatings, they exhibit more toughness than waterborne coatings, thereby proving to be a preferred choice as a corrosion control solution. Solvent-borne coatings also possess a relative advantage over waterborne coatings owing to the fact that they bring effective results when applied even in humid environments, where the latter does not cure effectively.
Considering the vital advantages and applications of solvent-borne coatings pertaining to harsh environmental conditions, the study of the solvent-borne coatings market becomes an important read.
Asia-Pacific is Expected to Witness the Highest Growth
The growing urbanization and rising purchasing power of consumers in the region, especially from China and India, are expected to drive the growth of the market in the region. China has the largest furniture sector across the world, which is thriving, owing to the increasing domestic and foreign demand. In India, both the furniture and construction sectors have been witnessing major growth in the recent times. Some of the key factors that are boosting this growth include the increasing investment in the residential and commercial sector and government initiatives. The entry of major furniture companies is also expected to boost the furniture industry growth. Additionally, there has been a major growth in the public and private investments in the construction sectors of ASEAN countries, in the recent times. These factors are likely to help the Asia-Pacific region to dominate the market, during the forecast period.
