Rise in Number of New Housing Constructions in Asia Pacific to Drive the Furniture Coatings Market
Added: (Mon Jan 21 2019)
Pressbox (Press Release) -
Transparency Market Research (TMR) provides key insights on the furniture coatings market in its latest report titled “Furniture Coatings Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 – 2026.” According to the report, rise in number of new housing constructions in Asia Pacific is predicted to drive the furniture coatings market during the forecast period. The report states that the demand for furniture coatings is high in Asia Pacific owing to the high population, urban development, and new construction projects.
Furniture coatings are protective coatings that provide high gloss and long-lasting finish. Key properties of these coatings include resistance to climate change, corrosion, abrasion, and chemicals. The choice of binder has significant impact on furniture coatings. Furniture coatings exposed to high moisture areas are formulated to withstand high moisture level in order to maintain substrate adhesion. They also possess high scrubbing and stain resistance.
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The global furniture coatings market expanded moderately in 2017. This trend is expected to continue during the forecast period. Rapid urbanization is fuelling the furniture coatings market across the globe. Asia Pacific accounts for the largest and the fastest growing market. Increase in construction and renovation activities in Asia Pacific is driving the furniture coatings market. Availability of key resins such as polyurethane and acrylic is anticipated to significant boost the furniture coatings market, especially in China and India.
North America, especially the U.S., is a major region of the global furniture coatings market owing to the increase in renovation activities in the region. Germany and countries in Eastern Europe contribute significantly to the furniture coatings market. The market in Middle East & Africa and Latin America is estimated to expand in the near future due to the recent economic developments and growth in investments in construction projects.
Prominent manufacturers of furniture coatings are included in this report to give a better competitive analysis and these are Akzo Nobel N.V, The Sherwin-Williams Company, PPG Industries, Inc, and RPM International Inc.
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