The Universal Selection Source:
Coatings Ingredients
Industry News

Research and Markets Studies the Trends in the Asia Pacific Industrial Wood Coatings Market

Published on 2011-08-16. Author : SpecialChem

The research study elucidates the current and future trends in the Asia Pacific Industrial Wood Coatings Market, between 2005 and 2011. In this study, the base year is 2009, and the forecast period extends from 2010 to 2011. Wood coatings include industrial wood coatings used for in-factory coating of wooden surfaces, including wooden furniture, wooden flooring, and other wooden surfaces that need to be coated. Cellulose lacquers, thinners, binders, and so on are included in this category. They are usually transparent protective coatings. The market for wood coatings in Asia Pacific is booming as a result of the robust growth seen in this region's paints and coatings industry.

Research Overview

This report provides the current and future market trends. The market for wood coatings is booming as a result of the robust growth in this region's paints and coatings industry. In this research, expert analysts thoroughly examine the following products: water-borne coatings, solvent-borne coatings and high-solid wood.

Market Overview

Export of Wooden Furniture from Asia Pacific to the United States and Europe Drives the Asia Pacific Industrial Wood Coatings Market. The Asia Pacific industrial wood coatings market has been rising steadily over the last five years, thanks to buoyant economic conditions, growth in the wooden furniture industry, low labour and production costs, and the dominance of nitrocellulose coatings. The lax regulations in Asia Pacific compared to Europe have resulted in low market-penetration barriers, making it an attractive destination for entrants. China and Vietnam drive the industrial wood coating market in Asia Pacific due to substantial furniture export to the United States and the European nations, while facing competition from other Southeast Asian countries such as Thailand, Indonesia and Malaysia. While export revenues do shore up the market, coating manufacturers will do well to strategise for the rising costs of raw materials, competitive pricing of furniture and the presence of numerous unqualified coatings suppliers. Asian furniture manufacturers typically range from small-to-medium-sized companies and are not technologically advanced in the application process. As a result, coatings manufacturers face challenges in developing inexpensive, eco-friendly products.

"Asia Pacific countries are leading global exporters of wooden furniture and showed great increase in shipment in the years leading up to 2008, after which exports declined drastically due to the economic downturn," notes the analyst of this research service. "The market, being highly reliant on exports, was adversely affected when import demand from the Western regions started to decline in 2009." The market witnessed a reduction in volume growth, but managed a marginal growth of about 1-2 per cent in terms of value. Greater growth is forecast from value than volume.

The Dominant Solvent-based Coatings in the Wood Coating Segment Help the Market Rebound after the Economic Downturn

The market is expected to rebound in 2011, as the economic conditions in the region improve and domestic demand in Asia Pacific increases. Many furniture manufacturers in the region prefer solvent-borne coatings, which accounted for more than 80 per cent of the market in many Asia Pacific countries in 2009. "The Asia Pacific export market is limited to a few countries, and this heavy dependence on those countries is considered a restraint," explains the analyst. "Additionally, the significant presence of unqualified coatings suppliers leads to a highly fragmented market and limited investment in technology."

To counter the market fragmentation, it is vital for wood coatings companies to consider opportunities for export to other countries in the region, instead of restricting themselves to Asia Pacific. Companies that focus on a regional strategy, rather than a country-specific one, are likely to be better positioned to benefit from the opportunities that arise from this geographic expansion. "As the Asian furniture industry is export oriented, it is important for local and regional manufacturers of wood coatings to keep track of export trends," observes the analyst. "Coatings companies should continue to develop partnerships with the leading furniture manufacturers and participate in furniture exhibitions to sustain the furniture market and develop business."

About Research and Markets

Research and Markets are the leading source for international market research and market data. They hold '000's of major research publications from most of the leading publishers, consultants and analysts. They provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

Source: Research and Markets

Channel Alerts

Receive weekly digests on hot topics

Back to Top