Wood Coatings Market Growth Prospects, Size, Share, Demand and Current Trends Analysis
Global wood coating market is driven by the growth of housing industry across the globe. In addition, the rise in urbanization has increased demand for wood products, thereby, increasing the demand for wood coating.
On the other hand, volatility in prices of raw materials and harmful effects of volatile organic compounds (VOCs) restrict growth in the industry. Regulatory developments create new opportunities in the industry.
End users include into furniture, cabinet, siding, flooring, paneling, and others. As the housing industry grows, the demand for cabinets will increase.
The usage of resin types including polyurethane, nitrocellulose, acrylic, unsaturated polyester, and others play a crucial part in offering protection and improving appearance. Polyurethane has been used widely owing to high-performance finish and enhancement of the natural appearance of wood.
Geographically, the market is further divided into North America, Europe, Asia-Pacific, and LAMEA. Huge population base in Europe and Asia-Pacific is responsible for giving a boost to the industry.
North America region is also gaining traction with the regulatory scenario.
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Recently, United States Environmental Protection Agency (EPA) proposed that there will be no change in the existing emission limits. This proposal has given relief to market players operating in the global wood coating industry as it provides the stability and uniformity in employing their techniques.
EPA took this decision based on a residual risk and technology review conducted by its 2003 National Emissions Standards for Hazardous Air Pollutants (NESHAP) for facilities involved in a coating of wood products. There are few amendments such as the startup, shutdown, and malfunction (SSM) exemption has been removed from emissions limits, an...
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