Research on Asia Pacific Industrial Wood Exterior Coatings Industry Strategy Analysis (Impact of Covid-19)

Length- 107 Pages | Published Date - 2023-04-05 | Report Id- 2982
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This report aims to provide a comprehensive presentation of the Asia Pacific market for Industrial Wood Exterior Coatings, with and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Industrial Wood Exterior Coatings.

The Industrial Wood Exterior Coatings market size considering 2022 as the base year, with history and forecast data for the period from 2018 to 2029. This report segments the Asia Pacific Industrial Wood Exterior Coatings market comprehensively. Regional market sizes, concerning products by type, by application and by players, are also provided.

For a more in-depth understanding of the market, the report provides profiles of the competitive landscape, key competitors, and their respective market ranks. The report also discusses technological trends and new product developments.
The report will help the Industrial Wood Exterior Coatings manufacturers, new entrants, and industry chain related companies in this market with information for the overall market and the sub-segments across the different segments, by company, by type, by application, and by regions.

The Asia Pacific Industrial Wood Exterior Coatings market size in 2022 is 1694.23 million US dollars, and it is expected to be 2487.55 million US dollars by 2029, with a compound annual growth rate of 5.64% expected in 2023-2029.

MARKET COMPETITIVE LANDSCAPE:
The main players in the Industrial Wood Exterior Coatings market include Nippon Paint, Akzo Nobel , PPG, Kansai Paint Co. Ltd, and Asian Paints Ltd.. The share of the top 3 players in the Industrial Wood Exterior Coatings market is 28.11%.

REGION SHARE:
The report covers the market size information of major regions/Countries around the world, including China, Japan, Korea, India, and etc.
---In the geographical distribution of Industrial Wood Exterior Coatings market in 2022, the China has the largest market size and its market share is about XX%, followed by Japan and its market share is about XX%.

SEGMENT OVERVIEW:
This report conducts segment analysis on type and application level. Type segment includes Water-based Coatings, Solvent-based Coatings, etc. Application segment includes Windows , Doors , etc.
---Solvent-based Coatings contributes approximately 62.83% share to the market in 2022.
---Decking contributes approximately 23.04% share to the market in 2022.

Market Trend:
Growing construction and infrastructure development: The APAC region is witnessing rapid urbanization and infrastructure development, leading to increased demand for industrial wood coatings. The construction industry”s growth, including residential, commercial, and public infrastructure projects, is driving the need for protective and decorative coatings for wood exteriors. The rising disposable incomes and changing lifestyles in emerging economies are further contributing to the demand for aesthetically appealing and durable wood coatings.

Shift towards environmentally friendly coatings: There is a growing emphasis on sustainable and eco-friendly coatings in the APAC region. Regulatory frameworks, consumer preferences, and corporate sustainability initiatives are driving the adoption of environmentally friendly coatings for wood exteriors. Low or zero volatile organic compound (VOC) coatings, water-based coatings, and other eco-friendly formulations are gaining popularity. Manufacturers are investing in research and development to develop coatings that offer high performance while minimizing environmental impact.

Increasing focus on durability and protection: Industrial wood coatings are expected to provide long-term durability and protection against harsh weather conditions, UV radiation, moisture, and fungal decay. The demand for high-performance coatings that can withstand extreme climates prevalent in the APAC region, such as high humidity, heavy rainfall, and intense sunlight, is driving the market. Manufacturers are developing advanced coatings with improved weather resistance, durability, and maintenance-free properties to meet these requirements.

Preference for natural wood finishes: Natural wood finishes that enhance the natural beauty and grain of wood are gaining popularity in the APAC region. Consumers are increasingly opting for coatings that provide a transparent or semi-transparent finish, allowing the wood”s texture and natural color to show through. These coatings offer a more natural and organic appearance, which is particularly desirable for outdoor applications such as decking, outdoor furniture, and facades.

Shift towards factory-applied coatings: There is a growing trend towards factory-applied coatings for wood exteriors in the APAC region. Prefinished wood products, where coatings are applied at the manufacturing facility before installation, offer several advantages such as uniform quality, controlled application conditions, reduced on-site labor, and improved efficiency. This trend is particularly prominent in the production of prefinished wood siding, flooring, and modular construction components.

Technological advancements and product innovations: The APAC industrial wood exterior coatings market is witnessing continuous technological advancements and product innovations. Manufacturers are investing in research and development to introduce coatings with enhanced properties such as self-cleaning, antimicrobial, and anti-graffiti capabilities. Additionally, the development of coatings with faster drying times, improved adhesion, and easier application techniques is gaining attention in the market.

Increased market competition and consolidation: The APAC market for industrial wood exterior coatings is becoming increasingly competitive, with the presence of both local and international manufacturers. The market is witnessing consolidation as larger coating companies acquire smaller players or form strategic partnerships to expand their market presence. This trend is driven by the need to leverage synergies, access new distribution channels, and enhance product portfolios to cater to diverse customer requirements.

Focus on after-sales services and technical support: Manufacturers are placing greater emphasis on providing after-sales services, technical support, and training to customers. This includes assistance in surface preparation, application techniques, maintenance recommendations, and troubleshooting. By offering comprehensive support, manufacturers aim to build long-term relationships with customers, ensure proper product performance, and differentiate themselves in the competitive market.

Highlights-Regions
China
Japan
Korea
India
Southeast Asia
Australia

Player list
Nippon Paint
Akzo Nobel
PPG
Kansai Paint Co. Ltd
Asian Paints Ltd.
Propan Raya
Sherwin-Williams
BASF
RPM International
Axalta
Others

Types list
Water-based Coatings
Solvent-based Coatings

Application list
Windows
Doors
Facades (non-wood)
Claddings
Wooden house/building
Decking
Garden Furniture
Playground equipment/structure
Exterior Fire retardant
Others

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