The global waterborne wood coatings market was worth $2.2 billion in 2018, says ResearchAndMarkets.com's latest report.
The report says the market for waterborne wood coatings is currently exhibiting a continuous growth. Catalyzed by growing urbanization in emerging economies across the Asia Pacific, Latin America, and Eastern Europe, there has been a significant rise in the demand of waterborne wood coatings. Growing urbanization has triggered a rise in the residential, commercial, and industrial infrastructure, creating a positive impact on the demand for wooden products in these regions.
Moreover, rising production of wooden items catalyzed by the growth of the global decor industry has also been driving the demand of these coatings. Looking forward, the market value is projected to reach $2.9 billion by 2024, exhibiting a CAGR of around 5% during 2019-2024. See the full report.
“The biggest trend in the way coatings are changing is being directed by the EPA – mostly lowering the VOC contents of a lot of coatings nowadays," says John Darroch, CEO and President with Apollo Sprayers International. "There's way less resistance to waterborne finishes now than there has been in the past. Spraying chemicals have changed so much; the formulations are a lot better than they used to be even five years ago."
At AWFS 2016, attendees struggled to distinguish differences between waterborne and solvent-based finishes.
Sherwin-Williams' Waterborne Challenge consisted of 14 panels finished in a variety of light and dark stains and paints. Participants were asked to identify which panels were finished with a waterborne topcoat and which with a solvent-based top coat. Of the 67 participants who took the challenge, only 51 percent of responses were correct. No participant reached 80 percent, with the highest scorer identifying only 11 correctly.
“With today’s waterborne advancements, it’s really tough to tell the difference between a quality waterborne finish and a traditional solvent-based finish,” said Joe Kujawski, Global Director of Marketing, Sherwin-Williams Industrial Wood Coatings. “The Waterborne Challenge puts this to the test.”
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