Wood Sealer Market Prevalent Opportunities up to 2024
Wood Sealer Market Overview:
Wood, as a natural material, has many irregularities and pores on the surface that are usually filled with various oils, varnishes, and/or polymer resins such as epoxy and polyurethane. These materials which fill the pores on the surface (and in the wooden object) are known as wood sealers. Wood sealers not only make the surface more workable, but also improve the product life via protecting the wood from moisture, weathering, and microorganisms.
Research Methodology
The wood sealer market has been analyzed by utilizing the optimum combination of secondary sources and in-house methodology along with an irreplaceable blend of primary insights. The real-time assessment of the market is an integral part of our market sizing and forecasting methodology. Our industry experts and panel of primary participants have helped in compiling relevant aspects with realistic parametric estimations for a comprehensive study. The participation share of different categories of primary participants is given below:
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Key Market Insights
The traditional wood sealers, such as varnishes and oils, are cheap and readily available but have relatively lower efficacy and need periodic replenishment to perform the functions effectively. On the other hand, polymer resins have a longer life span and do not degrade easily. Even among these, epoxy resins have been more popular because of glossy aesthetics, high scratch resistance, and long durability. Polyurethane and acrylic urethane have been gaining momentum with the ease of application and environment-friendly water-based composition.
Globally, the US is the biggest market for wood sealer, although China is a close follower and both countries are leading the demand growth in their respective region. The two regional markets represent different extremes of the wood sealer consumption pattern. The Asian markets are largely gaining from the replacement of traditional oil and varnish sealers, while the growth in the North American market is coming from higher penetration of premium products, especially in Do It Yourself (DIY) segment. The European market growth is from higher penetration in the Eastern region along with favorable growth of environment-friendly products in the Western part.
The study of the global wood sealer market provides the market size information and industry trends along with the parameters and factors impacting it in both short- and long-term. The study also covers the competitive scenario of the market with respect to major players with their branding strategies and differentiating factors among others. The study ensures a 360° view, bringing out the complete key insights of the industry. These insights help the business decision makers to make better business plans and informed decisions for the future business. In addition, the study helps venture capitalists and investment professionals in understanding the companies better and take informed decisions.
According to Infoholic Research, the global wood sealer market is expected to grow at a CAGR of 8.1% during the forecast period to reach a value of $2.68 billion by 2024. Among applications, furniture is expected to maintain its dominance, while construction is expected to witness relatively higher growth. The crude oil price is expected to stabilize in the coming years while environmental factors are expected to play a critical role in the market growth.
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The competitive scenario is very fragmented, with a large number of players competing among each other in almost all segments. The healthy competition keeps the pricing for wood sealer in check, while the large economic factors such as raw material supply and sudden disruption in the demand–supply balance impact the profitability of the producers. Few of the prominent players in the global wood sealer market are BASF SE, Evonik Industries, Sika AG, Sherwin-Williams Company, and Arkema S.A.
Report Scope:
Types
Acrylic Urethane
Epoxy
Polyurethane
Others
Applications
Construction
Furniture
Sports Equipment
Others (wooden tools, decorative items, etc.)
Regions
Asia Pacific
Europe
North America
Rest of the World
- Industry outlook: Market trends, drivers, restraints, and opportunities
Report Description: https://www.trendsmarketresearch.com/report/analysis/IR/wood-sealer-market
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